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Uber, Lyft, Apple, Facebook, Amazon.com: 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 turned higher after late-reporting votes in the still-uncertain election came in for Joe Biden. Bets on the market’s most enduring winners—technology stocks—are particularly popular. Read our full market wrap here.

What’s coming up. The counting of mailed-in ballots is likely to continue for some days, with the focus remaining on key battleground states.

Lyft and Uber surged higher after California voted to exempt the companies from a state law classifying their drivers as employees.

Lyft and Uber surged higher after California voted to exempt the companies from a state law classifying their drivers as employees.

Photo: Richard Vogel/Associated Press

Market Movers to Watch

Technology stocks rallied strongly overnight, led by market-heavyweights
Apple,
Microsoft,
Amazon.com,
Alphabet,
and
Facebook.
Some investors said they were seeking refuge in the stocks that have driven the rally this year.

Lyft
surged over 17% ahead of the New York open, while rival
Uber Technologies
gained almost 13%. Overnight, California voters exempted the two companies from reclassifying their drivers as employees, according to the Associated Press.

Tesla, which has been another market darling this year, climbed almost 3% premarket. It has rallied 407% this year.

Investors showed little love for big bank and financial stocks.
JPMorgan Chase
and
Bank of America
bucked the market trend to edge lower in offhours trading.

Must Reads Since You Went to Bed

What Markets Are Telling Us as Election Results Roll In

California Voters Exempt Uber, Lyft, DoorDash From Reclassifying Drivers

The Election Leaves Markets—and the Country—in Suspended Animation

Cold Weather Thaws Natural-Gas Prices

This Election Highlights How Divided the Nation Remains

A Global Asset Management Seoul Korea Magazine

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