Pfizer, Gilead, Ross: What to Watch When the Stock Market Opens Today
By Jem Bartholomew
Here's what we're watching as markets kick into gear Friday.
-- Stock futures wavered near the flatline, putting Wall Street
on track to end a choppy week with muted losses. Futures tied to
the S&P 500 edged up less than 0.1%, while Dow Jones Industrial
Average futures fell 0.1%. Read our full market wrap here.
-- What's coming up. Foot Locker reports earnings this morning.
A measure of European consumer confidence is due at 10 a.m. ET, and
the Baker Hughes rig count, a proxy for drilling activity in the
oil industry, is expected at 1 p.m.
-- IPOs to watch. Maravai LifeSciences Holdings and Sotera
Health are expected to begin trading Friday.
-- Pfizer said it plans to ask U.S. health regulators on Friday
to permit use of its Covid-19 vaccine, a milepost in months of
frantic efforts to find a medicine that could beat back a rampaging
pandemic. It could put the vaccine on track for distribution in
December if cleared quickly. The pharmaceutical company's shares
climbed 1.8% in offhours trading.
Market Movers to Watch
-- Gilead Sciences fell 2.3% before the bell after the World
Health Organization recommended against the use of antiviral drug
remdesivir for Covid-19.
-- Moderna, another company in the race for a coronavirus
vaccine, saw its shares climb premarket more than 4%.
-- Ross Stores surged 4.4% offhours after the retailer posted
third-quarter earnings that beat analysts' predictions.
-- Workday dropped 4% premarket after the cloud-software company
warned of lingering Covid-19 effects, despite reporting profit and
revenue that topped Wall Street's expectations.
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(END) Dow Jones Newswires
November 20, 2020 07:17 ET (12:17 GMT)
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