Here’s what we are watching as markets kick into gear Monday.
—Stock futures surged, with the Dow poised to open almost 1,800 points higher. That would take the blue-chips gauge just short of the 30,000-point milestone. Progress toward a crucial Covid-19 vaccine gave markets fresh impetus at the start of the week. Read our full market wrap here.
—What’s coming up. Cleveland Fed President Loretta Mester will speak at a virtual Philadelphia Fed fintech conference at 1:30 p.m. ET. China’s consumer- and producer-price indexes for October are due out at 8:30 p.m.
Market Movers to Watch
Pfizer surged over 12% and BioNTech ‘s ADRs rose 24% in offhours trading. The drugmakers’ Covid-19 vaccine candidate proved better than expected at protecting people from Covid-19 in a pivotal study.Airlines and travel stocks surged higher on the vaccine news, which marks a milestone in the hunt for shots that can stop the global pandemic. United Airlines Holdings , Delta Air Lines and Southwest Airlines all jumped over 15%. Royal Caribbean Group and Lyft were also among the biggest winners in early trading.
McDonald’s advanced almost 5% premarket after reporting third-quarter earnings that surpassed Wall Street’s expectations.