| What to watch today: Stocks set to open lower after Trump's positive coronavirus test | | |  | FRI, OCT 02, 2020 | | | | AS OF FRI, OCT 02, 2020 • 08:19 ET | | Dow Jones Fut | | 27,816.90 | | Current: | 27,336.00 | | Change: | -353.00 | | Impl. Open: | -357.90 | | | S&P 500 Fut | | 3,380.80 | | Current: | 3,322.25 | | Change: | -45.50 | | Impl. Open: | -48.55 | | | NASDAQ 100 Fut | | 11,583.20 | | Current: | 11,340.50 | | Change: | -234.25 | | Impl. Open: | -231.70 | | | Russell 2000 Mini | | 1,531.20 | | Current: | 1,505.60 | | Change: | -21.80 | | Impl. Open: | -16.40 | | | U.S. stock futures were pointing to a sharply lower open, following the news that President Donald Trump tested positive for Covid-19. That comes after a generally positive stretch for Wall Street, with the Dow and S&P 500 poised to break four-week losing streaks and the Nasdaq on pace for its second straight positive week. | | | Although the president's positive test may be most impactful on the markets at the moment, investors will also focus on the September employment report, due out at 8:30 a.m. ET. Economists project the U.S. economy added 800,000 new nonfarm jobs in September, with the unemployment rate falling to 8.2% from August's 8.4%.
* September data last government monthly jobs report before the election (CNBC) | | | | Also on today's economic calendar is the University of Michigan's final September consumer sentiment index, out at at 10 a.m. ET. August factory orders are also out at 10 a.m. ET. There are no earnings reports set for release either this morning or after today's closing bell. | | The House approved a $2.2 trillion Democratic stimulus plan, but the bill is not likely to get through the Republican-led Senate. The House's narrow passage of the package Thursday, by a vote of 214-207, comes as House Speaker Nancy Pelosi, D-Calif., and Treasury Secretary Steven Mnuchin try to negotiate a bipartisan relief package. The pair were unable to come to agreement Thursday, but indicated talks will continue as they try to find compromise on issues such as state and local government aid. (CNBC) | | | | The House antitrust subcommittee's investigation into some of the largest technology companies in the world, Amazon (AMZN), Apple (AAPL), Facebook (FB) and Alphabet (GOOGL), is nearing its end, setting up the prospect of legislative proposals that could significantly change antitrust enforcement in the United States. The subcommittee, led by Rep. David Cicilline, D-R.I., held its seventh and final hearing Thursday. (CNBC) | | | | For the first time, Amazon released comprehensive data on how the coronavirus pandemic has impacted its employees. The e-commerce giant said 19,816 workers, or 1.44% of the total, were infected by the coronavirus this year. The count is across the roughly 1.37 million front-line employees at Amazon and Whole Foods in the U.S. Amazon had faced pressured from labor groups and other regulators had called on the company to disclose the figures. (CNBC) | | | | Walmart (WMT) is going to sell its British supermarket chain, Asda, to a group of investors in a deal that values the company at $8.8 billion. The Arkansas-based retail giant will retain a minority stake and a board seat. A little more than a year ago U.K. regulators opposed a deal from another supermarket chain to acquire Asda. (AP) | | Pool Corp. (POOL) will be replacing E-Trade Financial (ETFC) in the S&P 500, after the acquisition of E-Trade by Morgan Stanley (MS) is completed. Pool is the world's largest wholesaler of swimming pools and related products. | | | | Nelson Peltz's Trian Asset Management has acquired stakes in investment firms Janus Henderson (JHG) and Invesco (IVZ), according to multiple reports which say Trian has accumulated 9.9% stakes in both companies. Trian is said to be aiming for consolidation in the asset management industry and building another major player. | | | | Activision Blizzard (ATVI) is delaying the release of "World of Warcraft: Shadowlands" until later this year. The videogame publisher said the delay is pandemic-related, with the shift of employees to home-based work slowing the development process. | | | | Southwest Airlines (LUV) CEO Gary Kelly told workers in a video message that layoffs could be looming if no further aid to the airline industry is forthcoming from lawmakers. | | | | Academy Sports And Outdoors (ASO) will begin trading today on the Nasdaq after pricing its initial public offering at $13 per share, below the target range of $15-$17 per share. The sporting goods retailer is backed by private equity firm KKR (KKR). | | | | Twilio (TWLO) raised its forecast for the quarter that ended Sept. 30, with the cloud services company benefiting from the increase in remote working and education. Twilio is scheduled to release its earnings report for the quarter on Nov. 4. | | | | Marathon Oil (MRO) reinstated its quarterly dividend, after suspending it in May in the wake of falling crude oil prices. The dividend will be 3 cents per share, payable on Dec. 10 to shareholders of record as of Nov. 18. | | | | Universal Health Services (UHS) said its computer network is being restored after a malware attack shut down the hospital operator's systems earlier this week. The company has not commented on reports that its systems were attacked by ransomware. | |  | | |
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