Wednesday, December 2, 2020
Home Economy Salesforce.com, Pfizer, BioNTech: What to Watch When the Stock Market Opens Today

Salesforce.com, Pfizer, BioNTech: What to Watch When the Stock Market Opens Today

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

U.S. stock futures are down, suggesting that the major indexes will take a breather after climbing to record highs. Futures tied to the S&P 500 ticked down 0.2%, a day after the benchmark set its 27th closing record of the year. Contracts linked to the technology-heavy Nasdaq-100 index edged 0.1% lower. Read our full markets wrap here.

What’s Coming Up

PayPal,
Lyft,
Microsoft
and Zoom are all presenting at a
Credit Suisse
tech conference.
Costco Wholesale
reports monthly sales after the bell. Meanwhile, the Federal Reserve’s beige book report, due at 2 p.m., will contain business anecdotes across Fed districts, giving insight into how companies view the economy’s prospects.

Market Movers to Watch

Shares in
Pfizer
rose 3% in premarket trading after the U.K. became the first Western nation to grant emergency-use authorization for the Covid-19 vaccine developed by the company and Germany’s
BioNTech SE.
BioNTech’s shares were up 7% pre-market.


Salesforce.com
shares fell premarket. The company confirmed Tuesday that it would buy collaboration platform provider
Slack Technologies
in a $27.7 billion transaction. Later Tuesday, the company said President and Chief Financial Officer Mark Hawkins intends to retire from his role, effective Jan. 31. Shares fell 4.4% premarket.

A bicyclist cycles past a Slack logo outside its headquarters on December 1, 2020 in San Francisco, California.

A bicyclist cycles past a Slack logo outside its headquarters on December 1, 2020 in San Francisco, California.

Photo: Stephen Lam/Getty Images

Bitcoin continued to edge down from a recent record high, with one bitcoin buying $19,162.63 Wednesday, according to CoinDesk. A wave of new investors have helped to push demand higher.

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