Here’s what we’re watching as markets kick into gear Thursday:
—U.S. stock futures edged lower as new restrictions imposed to curb rising coronavirus infection levels weighed on the economic outlook.
More than a quarter million Americans have died from Covid-19, and the timing of vaccine production remains an open question. Futures tied to the S&P 500 and the Dow Jones Industrial Average both ticked down 0.2%. Contracts linked to the tech-heavy Nasdaq-100 dropped 0.3%.
Read our full market wrap here.
—U.S. jobless claims, due at 8:30 a.m. ET, likely held relatively steady last week, indicating continued challenges for the U.S. economic recovery. Economists surveyed by The Wall Street Journal forecast that new unemployment claims came in at a seasonally adjusted 710,000 last week, up slightly from the 709,000 filed a week earlier.
—U.S. existing-home sales come out at 10 a.m, with some economists expecting gains could moderate in October, and heading deeper into the fall, as the supply of for-sale homes dwindles and asking prices rise.
—Olema Pharmaceuticals, which works on therapies for women’s cancers, is expected to begin trading after pricing its IPO at $19 a share. Chinese cosmetics company Yatsen Holding is also expected to start trading today after pricing its American depositary shares at $10.50 apiece.
Market Movers to Watch
Simon Property Group
fell 2.8% in premarket trade. The company yesterday priced an upsized public offering of stock at $72.50 per share.
Bank of New York Mellon
fell 1.5% after Keefe, Bruyette & Woods cuts its rating on the stock.
—Coronavirus-vaccine developers Moderna and
were both rising more than 1% ahead of the bell.