Nvidia, Simon Property Group, BNY Mellon: What to Watch When the Stock Market Opens Today
Here's what we're watching as markets kick into gear
-- U.S. stock futures edged lower as new restrictions imposed to
curb rising coronavirus infection levels weighed on the economic
More than a quarter million Americans have died from Covid-19,
and the timing of vaccine production remains an open question.
Futures tied to the S&P 500 and the Dow Jones Industrial
Average both ticked down 0.2%. Contracts linked to the tech-heavy
Nasdaq-100 dropped 0.3%.
Read our full market wrap here.
-- What's coming up. Macy's will report earnings premarket.
TurboTax maker Intuit Inc. and cloud-software company Workday will
update investors after markets close.
-- U.S. jobless claims, due at 8:30 a.m. ET, likely held
relatively steady last week, indicating continued challenges for
the U.S. economic recovery. Economists surveyed by The Wall Street
Journal forecast that new unemployment claims came in at a
seasonally adjusted 710,000 last week, up slightly from the 709,000
filed a week earlier.
-- U.S. existing-home sales come out at 10 a.m, with some
economists expecting gains could moderate in October, and heading
deeper into the fall, as the supply of for-sale homes dwindles and
asking prices rise. -- Olema Pharmaceuticals, which works on
therapies for women's cancers, is expected to begin trading after
pricing its IPO at $19 a share. Chinese cosmetics company Yatsen
Holding is also expected to start trading today after pricing its
American depositary shares at $10.50 apiece.
Market Movers to Watch
-- Simon Property Group fell 2.8% in premarket trade. The
company yesterday priced an upsized public offering of stock at
$72.50 per share.
-- Chip maker Nvidia fell 1.7% despite reporting
better-than-expected revenue and earnings after market close
-- Bank of New York Mellon fell 1.5% after Keefe, Bruyette &
Woods cuts its rating on the stock.
-- Coronavirus-vaccine developers Moderna and Pfizer were both
rising more than 1% ahead of the bell.
Must Reads Since You Went to Bed
Oxford, AstraZeneca Coronavirus Vaccine's Strong Response in
Elderly Confirmed in Review
Large Chinese Broker Faces Probe After State Owned Coal Miner's
Car Maker Notes Attract Investors Seeking Short Term Yield
Retail Entrepreneurs Buy Twice Bankrupt Radioshack with Plans for
Online RevivalChina Borrows at Negative Rates for the First
Ahold Delhaize Buys Majority of Delivery Company FreshDirect
(END) Dow Jones Newswires
November 19, 2020 07:18 ET (12:18 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.