Dow Futures pulls back as markets remain focused on stimulus

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The minute of the Friday market

  • Global stocks are mixed as markets continue to focus on the worrying rise in coronavirus infections in Europe and the lack of a new fiscal stimulus deal from Washington.
  • U.S. stocks will attempt to break a three-day losing streak as lawmakers haggle over a new coronavirus relief bill, but hopes for a pre-election deal fade amid Republican fighting.
  • The World Health Organization has said treatment for Gilead Sciences’ coronavirus, remdesivir, has little impact on patients in a trial involving more than 11,000 patients.
  • Wall Street futures jump higher ahead of the opening bell after a stronger than expected September retail sales reading and an optimistic timeline for Pfizer’s vaccine development.

U.S. equity futures rose on Friday after Pfizer Inc. (PFE) – Get the report has said he may be ready to seek emergency use approval for his developing coronavirus vaccine as early as next month.

The bullish calendar may help Wall Street break through a three-day losing streak, as many of the concerns that have pressured markets this week, from the rise in coronavirus infections to the fading of hopes of a stimulus deal , continue to dampen investor sentiment.

Stocks were also boosted by a stronger-than-expected September retail sales reading, which rose 1.9% year-over-year compared to the street consensus forecast of a gain of 0.7%.



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