Stock Groups

5 things to know before the stock market opens Friday, Nov. 5


These are the top news, trends, and analyses that traders need in order to get started with trading.

1. Wall Street is looking higher after the latest jobs report.

Traders in the NYSE Floor

Source: NYSE

U.S. stock futuresThe Friday numbers were solid ahead of Labor Department’s 8:30 a.m. ET release of its most recent jobs report. The S&P 500On Thursday, the office will be closed at noon record for the fifth straight sessionIt extended its winning streak of six trading days. The NasdaqThe record-breaking closing session was also achieved for five sessions straight, thanks to a winning streak of nine trading days. This is the Dow Jones Industrial AverageThe stock index fell slightly on Thursday to end its fourth consecutive session of records closes and ended its five-year winning streak. Strong weekly gains were recorded by all three benchmark stock stocks as investors took in the Federal Reserve’s tapering plan to its huge Covid-era bond purchases in stride. They also found comfort in the bank’s patience in raising interest rates.

2. Expect to see an increase in hiring and wages by October

Near the Hallandale Winn Dixie Supermarket entrance, a sign advertising Now Hiring hangs. It was placed on September 21, 2021.

Joe Raedle | Getty Images

Economists expectLast month saw the addition of 450,000 jobs nonfarm. This was in anticipation of a rise in hiring, as Covid cases are withdrawn and the economy improves. It would rise sharply over September’s disappointing 194,000. According to the latest data, October’s unemployment rate was 4.7%. On a year-overyear basis, hourly wages will rise by 4.9%. It would surpass September’s 4.6% increase. To see if wage inflation remains high, it will be closely monitored. The Fed indicated Wednesday that it still considers inflation temporary. But, higher wages may make it possible to raise the rate sooner than anticipated. Futures markets are pricing in July’s first Fed rate increase.

3. Pfizer asserts that the Covid pill with HIV medication reduces risk of severe illness

Pfizer World Headquarters in New York, March 23, 2021. People walk past the Pfizer signs. According to the Food and Drug Administration, Pfizer’s Coronavirus vaccine can now be kept in regular freezers for up to two weeks instead of being stored at extreme temperatures.

Getty Images| Corbis News | Getty Images

PfizerFriday, the oral Covid pill of Covid was approved by FDA. This drug is used in conjunction with widely-used HIV drugs. cut the risk of hospitalization or death by 89%High-risk adult who have been exposed to this substance. coronavirus. Premarket, the company saw a 11% increase in shares. Pfizer now has the antiviral drug candidate, which is one behind that of MerckCovid was found to have a strong effect on treating the patient at first symptoms. Merck shares plunged 9% at the premarket

The pills, if approved by U.S. Health regulators would be an important step in the fight against global pandemics. Pfizer intends to provide its data to Food and Drug Administration as soon as possible. Merck and Ridgeback Biotherapeutics made the antiviral pills was approvedBy Britain’s Medicines Regulator on Thursday. U.S. regulators are expected to follow suit later this month. are setMerck requested emergency treatment of Covid.

4. Peloton stock shares drop due to slow sales growth.

Peloton Interactive Inc. in Dedham (Massachusetts, USA) will be selling exercise equipment and clothing on Wednesday, February 3, 2021.

Adam Glanzman | Bloomberg | Getty Images

The shares of PelotonPremarket plunges more than 30% Friday morning, after the manufacturer of exercise equipment connected reported weakening sales growthThe company also reported a greater-than-expected loss for its fiscal second quarter. Peloton reduced its outlook for full-year fiscal due to weakening demand, continuing supply chain challenges and competition from other at home fitness options as well as people returning to gyms such as Planet Fitness. Peloton recorded 2.49million connected members at the conclusion of its three-month period. That’s an 87% rise year-over year. Peloton subscribers who are connected to their fitness content pay an annual fee and own a Peloton treadmill or bicycle.

5. Biden’s big spending bill on brink of House vote, but fights remain

Following a meeting at the US Capitol in Washington DC on October 28, 2021 between Joe Biden the US President and Nancy Pelosi the Speaker of the House, Nancy Pelosi left.

Nicholas Kamm | AFP | Getty Images

Democrats in Congress appear on the vergeThe President is advancing Joe BidenThe House’s growing domestic policy package, consisting of climate and social spending as well as a $1 trillion bill for infrastructure, is $1.85 trillion. It was passed in a Senate bipartisan vote. Votes were withdrawn by the House late on Thursday. hoped to pass the bills Friday. House Speaker Nancy PelosiD-Calif., worked late at night to secure support. Nonpartisan Joint Committee on Taxation announced Thursday that it had its initial analysis of the bigger billThe results showed that the company would generate $1.48 trillion in revenues over a decade, and it is unlikely to increase the deficit long-term.

— The Associated Press contributed to this report. All market activity should be followed like a professional. CNBC ProYou can read more. The latest information on pandemics is available here CNBC’s coronavirus coverage

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.