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Dow Futures is down as markets remain focused on stimulus



The market report on Friday

  • Global stocks mix 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. actions will attempt to trigger a three-day losing streak as lawmakers debate a new coronavirus relief bill, but hopes for a pre-election deal are fading amid Republican fighting.
  • The World Health Organization says Gilead Sciences’ coronavirus treatment remdesivir had little impact on patients in a study of more than 11,000 patients.
  • Wall Street futures climb higher in the opening bell after a stronger-than-expected September retail sales reading and an optimistic timeline for Pfizer̵
    7;s vaccine development.

U.S. stock futures rose Friday after Pfizer Inc. (PFE) – Get report said it may be ready to apply for emergency use approval of its developing coronavirus vaccine as early as next month.

The optimistic timeline could help Wall Street trigger a three-day losing streak as many of the concerns that have put pressure on the markets this week, from rising coronavirus infections to faded hopes of a stimulus deal, continue to dampen the investor sentiment.

The shares were also underpinned by a stronger-than-expected September retail sales reading, which rose 1.9% from last year versus Street’s consensus forecast of a 0.7% rise.

President Donald Trump’s offer to increase the amount of supply in a Republican-led stimulus bill beyond the current $ 1.8 trillion level yesterday gave equities a boost in late session yesterday, but that rally took place. exhausted when Senate leader Mitch McConnell said he would not take him to his word, citing concerns both about the level of spending it would contain and the policies it would support.




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