Here’s what we are watching as markets kick into gear Friday.
—Stock futures are wavering, putting the S&P 500 on track to snap a three-week winning streak. Money managers say stocks are likely to lack clear direction in the coming weeks as they avoid placing big bets ahead of the Nov. 3 election. Read our full market wrap here.
—What’s coming up. Investors may get fresh insights into the pace of recovery in the manufacturing and services sectors from surveys of purchasing managers, due to be released at 9:45 a.m. ET. The data is likely to show that the economy is continuing to grow, albeit at a slower pace.
Market Movers To Watch
plunged 9.6% in offhours trading after third-quarter earnings were hit by consumers gravitating to cheaper laptops and data-center sales softening. The results pointed to the work-from-home boost fading for the chip giant.
jumped 4.1% before the opening bell. The Food and Drug Administration granted full approval for remdesivir, making it the first Covid-19 treatment deemed safe and effective by the regulator.
slid 1.5% premarket. The ride-hailing company and
must comply with an order that requires them to reclassify their drivers as employees, a California appeals court said. The ruling threatens to upend the companies’ business models.
edged down 1.5% in offhours trading.
rose over 8% ahead of the opening bell after Barbie emerged as one of the pandemic’s biggest winners. The flagship doll posted a 29% sales increase in the third quarter, the largest quarterly increase for Barbie going back at least two decades.
dropped 3% premarket after its third-quarter profit didn’t meet Wall Street’s expectations.
dropped 3.5% after the disk-drive maker’s revenue fell more than Wall Street had expected.
Capital One Financial
rose 4.5% premarket after third-quarter profit and sales beat analysts’ expectations.
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