Home Economy Pfizer, Gilead, Ross: What to Watch When the Stock Market Opens Today

Pfizer, Gilead, Ross: What to Watch When the Stock Market Opens Today

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Here’s what we’re watching as markets kick into gear Friday.

Stock futures slipped, putting Wall Street on track to end a choppy week with muted losses. Futures tied to the S&P 500 and the Dow Jones Industrial Average both fell 0.2%. Read our full market wrap here.

What’s coming up. A measure of European consumer confidence is due at 10 a.m. ET, and the
Baker Hughes
rig count, a proxy for drilling activity in the oil industry, is expected at 1 p.m.

IPOs to watch.
Maravai LifeSciences Holdings
and
Sotera Health
are expected to begin trading Friday.


Pfizer
said it plans to ask U.S. health regulators on Friday to permit use of its Covid-19 vaccine, a milepost in months of frantic efforts to find a medicine that could beat back a rampaging pandemic. It could put the vaccine on track for distribution in December if cleared quickly. The pharmaceutical company’s shares climbed 1.5% in offhours trading.

Pfizer's experimental coronavirus vaccine proved 95% effective in Phase 3 testing.

Pfizer’s experimental coronavirus vaccine proved 95% effective in Phase 3 testing.

Photo: G. Ronald Lopez/Zuma Press

Market Movers to Watch


Gilead Sciences
fell 1.6% before the bell after the World Health Organization recommended against the use of antiviral drug remdesivir for Covid-19.


Moderna,
another company in the race for a coronavirus vaccine, saw its shares climb premarket over 3%.


Ross Stores
gained 4.4% offhours after the retailer posted third-quarter earnings that beat analysts’ predictions.


Workday
dropped 3.4% premarket after the cloud-software company warned of lingering Covid-19 effects, despite reporting profit and revenue that topped Wall Street’s expectations.


Foot Locker
advanced 2.8% premarket after the shoe retailer posted quarterly earnings that beat analysts’ expectations.


Occidental Petroleum
jumped 2.5% before the market opened after
Susquehanna Community Financial
said the oil company’s share price would rise to $18 a share. Occidental closed Thursday at $13.36.

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