Boeing, Pfizer, Lowe's: What to Watch When the Stock Market Opens Today
By Jem Bartholomew
Here's what we are watching as markets kick into gear
-- Pfizer and BioNTech said they would seek authorization for
use of their Covid-19 vaccine within days after it appeared 95%
effective in final trial results and showed signs of being safe.
Pfizer shares rose 2.9% premarket and BioNTech's U.S.-listed ADR
jumped almost 6%.
-- Their performance beat the rest of the market as stock
futures edged higher, with investors weighing the risks to the
economy from rising coronavirus-infection levels against the
prospect of vaccines that could halt the pandemic.
-- Futures tied to the S&P 500 ticked up 0.2%, with
contracts linked to the Dow Jones Industrial Average gaining 0.3%
and the Nasdaq-100 edging up 0.1%. Wall Street's fear gauge
dropped, with the CBOE Volatility Index down more than 3%. Read our
full market wrap here.
-- What's coming up. Jack in the Box, L Brands and Nvidia are
expected to report quarterly earnings after the closing bell.
Market Movers to Watch
-- Boeing jumped 6.2% ahead of the opening bell after the
Federal Aviation Administration approved the airline's 737 MAX jets
for passenger flights again after dual crashes took 346 lives,
helping to resolve the plane maker's biggest pre-pandemic
-- TJX climbed 3.5% ahead of the bell after posting quarterly
sales that beat analysts' predictions.
-- Lordstown Motors advanced over 5% premarket, building on
Tuesday's gains of 9.5% after the electric-vehicle maker said
production of its electric pickup truck Endurance is on track to
begin deliveries by September 2021.
-- NIO's U.S.-listed ADR dropped around 1.3% premarket despite
the Chinese electric vehicle company reporting its sales more than
doubled in the latest quarter. Our Heard on the Street colleagues
warn NIO's stock has been accelerating too fast.
-- Bitcoin extended its recent climb to punch above $18,000
-- Lowe's Companies dropped almost 7% premarket despite the
home-improvement retailer posting third-quarter sales that beat
Wall Street's expectations.
-- Target gained 1.9% before the bell after the company said
comparable sales, those from stores or digital channels operating
for at least 12 months, increased 20.7% in the quarter ended Oct.
-- Tesla kept climbing by 1.7% offhours. The electric-car maker
gained 8.2% Tuesday after news that it will be added to the
benchmark S&P 500 index on Dec. 21.
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(END) Dow Jones Newswires
November 18, 2020 09:15 ET (14:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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