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Apple, Eli Lilly, Pfizer, Facebook: What to Watch When the Stock Market Opens Today

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Here’s what we are watching as markets kick into gear Tuesday.

S&P 500 futures wobbled, on concern about elevated Covid-19 infection levels, muted stimulus expectations and caution about the timing of vaccines. That tempered the exuberance that left the benchmark hovering near a record high by the close on Monday. Read our full market wrap here.

What’s coming up. Apple will host an event at 1 p.m. ET centered around its nearly 40-year-old Mac. That is because the Mac lineup is set to get its biggest jolt in years with the expected introduction of laptops with Apple’s own microchips.

Eli Lilly shares climbed after the drugmaker won approval for use of its antibody drug in treating some Covid-19 patients.

Eli Lilly shares climbed after the drugmaker won approval for use of its antibody drug in treating some Covid-19 patients.

Photo: mike blake/Reuters

Market Movers to Watch

Eli Lilly
gained almost 4% in offhours trading after health officials authorized use of its antibody drug as a treatment for people with earlier-stage Covid-19 who aren’t hospitalized.

The largest tech stocks—
Apple,
Alphabet,
Amazon.com,
Facebook
and
Microsoft
—continued their slide lower. Those companies that had driven much of this year’s market rally, but have fallen out of favor this week as investors turned instead to banks, travel and energy companies on a bet that the economic recovery will accelerate.

Pfizer
continued its rally overnight, gaining almost 4% premarket. The stock gained over 7% Monday after the drugmaker said its Covid-19 vaccine candidate was proving to be more effective than people had expected.

Simon Property Group
slid 3% before the opening bell. The mall operator’s earnings were below Wall Street’s expectations for the latest quarter. The stock closed Monday up 28%, as investors revived bets on banking, finance and real-estate sectors.

RingCentral
advanced 4.9% offhours after the cloud-communications provider reported third-quarter earnings ahead of analysts’ expectations.

Neurocrine Biosciences
dropped 9% before the opening bell. The company’s third-quarter results disappointed investors.

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