| What to watch today: Dow set to fall despite U.K. Covid vaccine approval | | |  | WED, DEC 02, 2020 | | | | AS OF WED, DEC 02, 2020 • 08:44 ET | | Dow Jones Fut | | 29,823.92 | | Current: | 29,676.00 | | Change: | -128.00 | | Impl. Open: | -123.92 | | | S&P 500 Fut | | 3,662.45 | | Current: | 3,649.75 | | Change: | -10.75 | | Impl. Open: | -10.70 | | | NASDAQ 100 Fut | | 12,455.33 | | Current: | 12,399.00 | | Change: | -53.25 | | Impl. Open: | -54.33 | | | Russell 2000 Mini | | 1,836.05 | | Current: | 1,826.90 | | Change: | -8.60 | | Impl. Open: | -7.95 | | Stock futures indicated a lower open, after Wall Street started December on a strong note Tuesday. Dow futures implied an opening decline of almost 120 points. S&P 500 and Nasdaq futures also were lower. The S&P 500 and tech-heavy Nasdaq posted record closing highs Tuesday, rising 1.1% and 1.3%, respectively. The 30-stock Dow gained 185 points, or 0.6%, hitting an intraday high during the session. (CNBC)
* European markets dip slightly, tracking mixed global sentiment; G4S up 8% (CNBC)
The U.K. granted approval to Pfizer (PFE) and German partner BioNTech's (BNTX) Covid-19 vaccine, a significant milestone in the effort to end the devastating coronavirus pandemic. Rollout of the vaccine is set to begin next week, the British government said, with health-care workers and elderly people in long-term care facilities set to be first in line to receive the shot. (CNBC) | | | | ADP's monthly report on private sector jobs showed that a fewer-than-expected 307,000 new positions were added at U.S. companies last month, the slowest pace of growth since July. The ADP data comes ahead of the government's weekly jobless claims report Thursday and its monthly employment report for November on Friday. (CNBC) | | | | Discount retailer Five Below (FIVE), Calvin Klein-owner PVH (PVH), and cybersecurity firm CrowdStrike (CRWD) are among the companies set to report earnings today. (CNBC) | | | | Mortgage applications to buy a home rose 9% last week compared with the prior week, according to the Mortgage Bankers Association's seasonally and holiday adjusted index. Applications to purchase a house were a stunning 28% higher from a year earlier. (CNBC) | | Senate Majority Leader Mitch McConnell, R-KY., shot down a proposed bipartisan coronavirus stimulus package, as the months-long stalemate over additional pandemic relief in Washington persists. The roughly $908 billion plan, assembled by bipartisan members of the Republican-led Senate and Democratic-held House, included funds for small business aid and a $300 per week supplemental unemployment. McConnell said he wanted to approve a "targeted relief bill" this year. (CNBC) | | | | A Morgan Stanley analyst downgraded Palantir Technologies (PLTR) to "underweight" from "equal weight," noting that "the risk/reward paradigm shifts decidedly negative for the shares" after surging since its IPO "with very little change in the fundamental story." Palantir shares dropped 10% in the premarket. | | | | Thermo Fisher (TMO) was initiated by Goldman Sachs with a "buy" rating, with the bank calling the company "a core, long term holding due to a durable growth algorithm driven by sector leading exposure to the fast-growing BioPharma and Clinical/Diagnostics end markets and a revenue mix that is over 75% recurring." | | | | Verizon (VZ) shares rose 0.6% after MoffettNathanson upgraded them to "buy" from "neutral," citing the potential for higher average revenue per user in 2021. The firm also raised its price target on Verizon to $66 per share, up from $59 per share. The new target implies a 12-month upside of 9%. | | | | An analyst at Citi hiked his 12-month price target on Disney (DIS) to a Street high of $175 per share, implying a 17% upside from Tuesday's close of 149.44 per share. "We continue to expect a measured recovery within Disney's core businesses At the same time, given the continued momentum of Disney's streaming apps, we are raising our outlook for the firm's DTC segment," the analyst said. | | At long last, it is game day for the Pittsburgh Steelers and Baltimore Ravens after their Week 12 matchup had been pushed back three times due to Covid-19 cases. Kickoff between the undefeated Steelers and Ravens is set for 3:40 p.m. in Pittsburgh. The game was originally supposed to be played nearly a week ago on Thanksgiving. (AP) | | |
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