| What to watch today: Wall Street looks steady ahead of expected Fed pivot | | |  | WED, DEC 15, 2021 | | | | AS OF WED, DEC 15, 2021 • 08:53 ET | | Dow Jones Fut | | 35,544.18 | | Current: | 35,420.00 | | Change: | -28.00 | | Impl. Open: | -24.18 | | | S&P 500 Fut | | 4,634.09 | | Current: | 4,628.00 | | Change: | UNCH | | Impl. Open: | UNCH | | | NASDAQ 100 Fut | | 15,914.90 | | Current: | 15,914.25 | | Change: | -8.00 | | Impl. Open: | -.65 | | | Russell 2000 Mini | | 2,159.65 | | Current: | 2,159.50 | | Change: | 2.00 | | Impl. Open: | 5.85 | | | Retail sales are the last major economic report as central bankers head into the final day of their two-day December meeting. The Fed's expected accelerated tapering could set the stage for its first hike in Covid-era near-zero interest rates. The central bank is also likely to provide a new description of how it views inflation, acknowledging it no longer sees inflation as transitory. (CNBC) | | House Democrats passed a debt ceiling increase with one Republican vote, sending the measure to President Joe Biden early Wednesday. The Senate, also controlled by Democrats, approved the increase to the nation's borrowing limit along party lines Tuesday afternoon. Once signed, the resolution would raise the debt ceiling by $2.5 trillion, probably enough to get through next year's midterm election. (CNBC) | | | The Covid omicron variant, first detected in southern Africa about a month ago, now makes up about 3% of cases sequenced in the U.S., according to CDC data. While delta remains the dominant strain in the U.S., the agency said that the highly mutated omicron variant is spreading quickly. (CNBC)
Responding to a Washington Post report about a possible "massive wave" of omicron infections as soon as January, the CDC said in a statement that the scenario described was among several discussed at a regularly scheduled meeting with public health officials. | | | | Lowe's (LOW) shares fell Wednesday after the company's sales outlook disappointed investors and raised concerns that the pandemic-fueled boom in do-it-yourself and decorating projects is cooling. Shares were down about 2% in premarket trading. (CNBC) | | | | Eli Lilly (LLY) raised its 2022 profit and revenue forecast ahead of today's meeting with the investment community, noting it's on track to meet its goal of delivering 20 new treatments in the 10-year period through 2023. Lilly rose 4.7% in the premarket. (Reuters) | | | | Vir Biotechnology (VIR) rallied 4.3% in the premarket, putting it in position to rise for a fifth straight day. The drugmaker announced further data showing that its Covid antibody therapy, developed in partnership with GlaxoSmithKline (GSK), was effective against the omicron variant. (Reuters) |  | Toyota (TM) gained 2.2% in premarket trading, after announcing it would produce a record 800,000 vehicles in January. Toyota is ramping up output to make up for prior production lost to parts shortages. | | | | RR Donnelley (RRD) agreed to be acquired by Chatham Asset Management, the printing company's top shareholder, for about $897 million. Donnelley terminated an earlier buyout deal it reached with private equity firm Atlas Holdings after determining that Chatham's bid was a "superior proposal." The stock fell 2.8% in the premarket. | | | | CMC Materials (CCMP) agreed to be acquired by rival Entegris (ENTG) in a cash-and-stock deal. Based on Tuesday's closing prices, the transaction is worth $197.53 per CMC share, compared with CMC's Tuesday close of $145.97. CMC rose more than 25% and Entegris fell 3% in the premarket. | | |
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