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Dow futures fellInvestors are preparing for all kinds of economic data, and grappling with the earnings misses that have decimated shares by a staggering 150 points Gap NordstromEurope’s premarket and Covid concern, including Germany set to decideOn tighter mitigation measures including possible total lockdowns and mandates for vaccines

• It NasdaqOn Tuesday, it fell 0.5%. This was its second consecutive down day. tech stocks came under pressure again.
• It DowThe 30-stock average gained 194 points (or nearly 0.6%) during the second session.
• It S&P 500The 0.17% increase in the price of oil halted a slide that lasted two days.
• Both the Dow and Nasdaq were less than 2 points from record-setting closes of Nov. 19, 19 and 8, respectively. The S&P 500 was 0.3% shy of its Nov. 18 record close.

It economic calendarIt is full Wednesday morning, just one day before Thanksgiving Day. Friday is the stock market’s last day. The stock market closes at 8:30 AM ET. One hour prior to Wednesday’s open bell, ET will see data from the government on weekly initial jobless claims and October durable goods orders. The revised third quarter gross domestic product will also be released by ET. 10.30 a.m. ET: Investors will receive printouts on the October spending and personal income as well as the ET. Federal ReserveThe core personal consumption expenditures price indicator is the most popular inflation indicator. Also due are November’s consumer sentiment figures and October’s new homes sales.

Gap shares dropped 20% on Wednesday’s premarket. Nordstrom shares plummeted 25% after Nordstrom reported disappointing earnings. Gap cut its full-year outlookThird quarter results suffered from Covid-related factory closings, which caused significant product delay. Nordstrom labor costs ate into quarterly profitsNordstrom Rack’s sales, and even its Nordstrom Rack business have struggled to recover to pre-pandemic levels. Although Macy’s was boosting its forecasts, Kohl’s maintained the department store’s full-year revenue outlook.

TeslaPremarket prices dropped by 1% on Wednesday, just one day after regulators reported that the CEO had been fired. Elon MuskThe electric car maker exercised the option to purchase 2.15 million shares. sold 934,091 sharesIt is worth more than $1 billion Musk sold 9.2 million stock shares in a Twitter poll that he conducted on Nov. 6 asking him whether or not he should buy more stock. The total value of his unloaded stock has reached $9.9 Billion. Most people in the survey agreed that he should sell. Tesla shares, which were hit by a severe downturn earlier in the month, more than doubled over the last year. Tesla shares remained over $1 trillion in market value.

President Joe BidenShalanda Young will be appointed director of White House Office of Management and Budget. according to media reports. Young, currently acting OMB director must be confirmed by Senate to hold the position. Biden’s choice for the first time. Neera TandenAfter she was attacked for tweets which upset legislators,, pulled out of consideration. Young, who was formerly a Capitol Hill staffer would be the first Black woman leader of the budget department.

— Reuters contributed to this report. All market action can be followed like a pro. CNBC Pro. Find the most recent information about the pandemic here CNBC’s coronavirus coverage.