Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

5 things to know before the stock market opens Friday

by
November 5, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

Here are the most important news, trends and analysis that investors need to start their trading day:

Wall Street looks higher ahead of jobs report, after more recordsHiring is expected to have picked up in October, wages tooPfizer says its Covid pill with HIV drug cuts risk of serious illnessPeloton shares sink on slow sales growth, wider quarterly lossBiden’s big spending bill on brink of House vote, but fights remain

1. Wall Street looks higher ahead of jobs report, after more records

Traders on the floor of the NYSE

Source: NYSE

U.S. stock futures were steady Friday, ahead of the Labor Department’s 8:30 a.m. ET release of its latest jobs report. The S&P 500 on Thursday closed at a record for the fifth straight session, extending its winning streak to six trading days. The Nasdaq also closed at a record for five straight sessions, riding a nine-trading day winning streak. The Dow Jones Industrial Average dipped slightly Thursday, ending its latest string of record closes at four sessions and its winning streak at five. All three stock benchmarks were tracking for strong weekly gains as investors took the Federal Reserve’s tapering plan for its massive Covid-era bond buying in stride and found solace in the central bank’s patient stance on raising interest rates.

2. Hiring is expected to have picked up in October, wages too

A Now Hiring sign hangs near the entrance to a Winn-Dixie Supermarket on September 21, 2021 in Hallandale, Florida.

Joe Raedle | Getty Images

Economists expect 450,000 nonfarm jobs were added last month, forecasting a pick up in hiring as new Covid cases receded and the economy improved. That would be up sharply from September’s disappointing 194,000. The nation’s unemployment rate is seen dipping to 4.7% in October. Hourly wages are expected to rise by 4.9% on a year-over-year basis. That would be up from September’s 4.6% advance. Wage inflation will be closely watched to see whether it remains elevated. The Fed said Wednesday it continues to view inflation as transitory. However, stronger wages could make the case for a rate increase sooner than expected. The futures market is pricing in the first Fed rate hike for July.

3. Pfizer says its Covid pill with HIV drug cuts risk of serious illness

People walk in front of Pfizer sign at Pfizer World Headquarters on March 23, 2021 in New York. The Food and Drug Administration (FDA) says Pfizer’s coronavirus vaccine can be stored in normal freezers for two weeks, instead of storage at ultra-cold temperatures.

VIEW press | Corbis News | Getty Images

Pfizer said Friday its oral Covid pill, administered in combination with a widely used HIV drug, cut the risk of hospitalization or death by 89% in high-risk adults who’ve been exposed to the coronavirus. The company’s shares jumped 11% in the premarket. The Pfizer candidate is now the second antiviral pill behind one from Merck to demonstrate strong effectiveness for treating Covid at the first sign of illness. Merck shares fell 9% in the premarket.

If cleared by U.S. health regulators, these pills would likely be game changers in the ongoing global pandemic fight. Pfizer plans to submit its data to the Food and Drug Administration “as soon as possible.” The antiviral pill made by Merck and Ridgeback Biotherapeutics was approved by Britain’s medicines regulator on Thursday. Later this month, U.S. regulators are set to evaluate Merck’s request for emergency use of its Covid drug.

4. Peloton shares sink on slow sales growth, wider quarterly loss

Exercise equipment and apparel for sale at the Peloton Interactive Inc. showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021.

Adam Glanzman | Bloomberg | Getty Images

Shares of Peloton plunged more than 30% in Friday’s premarket, the morning after the maker of connected exercise equipment reported weakening sales growth and a wider-than-expected loss in its fiscal first quarter. Peloton cut its outlook for the full fiscal year due to softening demand, ongoing supply chain challenges, and competition from other at-home fitness options and people going back to gyms like Planet Fitness. Peloton did count 2.49 million connected fitness subscribers at the end of the three-month period, up 87% year over year. Connected fitness subscribers are those who own a Peloton bike or treadmill and also pay a monthly fee to access the company’s digital workout content.

5. Biden’s big spending bill on brink of House vote, but fights remain

US President Joe Biden and Speaker of the House Nancy Pelosi depart following a meeting with the Democratic caucus at the US Capitol in Washington, DC, on October 28, 2021.

Nicholas Kamm | AFP | Getty Images

Democrats in the House appear on the verge of advancing President Joe Biden‘s $1.85 trillion-and-growing domestic policy package of social and climate spending, alongside a separate $1 trillion infrastructure bill, which was already passed in a bipartisan vote in the Senate. The House scrapped votes late Thursday but hoped to pass the bills Friday. House Speaker Nancy Pelosi, D-Calif., worked into the night at the Capitol, looking to lock down support. The nonpartisan Joint Committee on Taxation said Thursday its initial analysis of the bigger bill showed it would raise $1.48 trillion in revenue over a decade and be unlikely to add to the deficit long term.

— The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

ShareTweetPin

Related Posts

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

by
March 25, 2023
0

The world's biggest iPhone factory, located in China and run by Foxconn, faced disruptions in 2022. That is likely to...

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

by
March 25, 2023
0

CNBC's Jim Cramer said on Friday that this week was the latest example of the market gone crazy after a...

Biden says federal deposit insurance could be tapped further if banks fail

by
March 25, 2023
0

The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023. Al Drago | Bloomberg...

Foundation of China’s economic recovery not solid enough, party official says

by
March 25, 2023
0

A general view shows the skyline over the Central Business District in Beijing on February 28, 2023. Jade Gao |...

Jack Dorsey’s Wealth Tumbles $526 Million After Hindenburg Short

by
March 25, 2023
0

S&P 500 3,970.99 +22.27(+0.56%)   Dow 30 32,237.53 +132.28(+0.41%)   Nasdaq 11,823.96 +36.56(+0.31%)   Russell 2000 1,734.92 +14.63(+0.85%)   Crude...

Next Post

October Employment Report: 531 Thousand Jobs, 4.6% Unemployment Rate

Job creation roars back in October as payrolls rise by 531,000

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com