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Nvidia, Simon Property Group, BNY Mellon: What to Watch When the Stock Market Opens Today

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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, Nasdaq-100 and the Dow Jones Industrial Average all ticked down 0.1%.

Read our full market wrap here.

What’s coming up. TurboTax maker
Intuit Inc.
and cloud-software company Workday will report quarterly earnings after markets close.

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

Spectators watch Nvidia launch small intelligent robots at the 2020 Global Conference on Artificial Intelligence. Hangzhou, China, Oct. 16, 2020.

Spectators watch Nvidia launch small intelligent robots at the 2020 Global Conference on Artificial Intelligence. Hangzhou, China, Oct. 16, 2020.

Photo: Costfoto/Barcroft Media/Getty Images

Macy’s fell 3.3% after the retailer said net sales fell more than 20% in the third quarter, and reported its third quarterly loss in a row.


Simon Property Group
fell 2% in premarket trade. The company yesterday priced an upsized public offering of stock at $72.50 per share.

—Chip maker
Nvidia
fell 1.6% despite reporting better-than-expected revenue and earnings after market close yesterday.


Bank of New York Mellon
fell 0.5% after Keefe, Bruyette & Woods cuts its rating on the stock.

—Coronavirus-vaccine developers Moderna and
Pfizer
were both rising more than 1% ahead of the bell.

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