Here are the most important news, trends and analysis that investors need to start their trading day:
1. Wall Street is waiting for the Fed’s decision after another record day
Traders on the NYSE
US stock futures remained largely unchanged on Wednesday ahead of the end of the two-day November meeting of the Federal Reserve System. Central banks will almost certainly announce that they are cutting back on the number of bonds they buy each month. The Fed’s unusual monetary policy during the Covid era also includes near-zero interest rates, and investors will look for signals of when the cost of borrowing may rise.
2. Lots of big premarket promotions: LYFT, BBBY, ZG, CAR.
Signs offering COVID-19 vaccination are visible outside the CVS pharmacy in Washington DC on May 7, 2021.
Mandel Ngan | AFP | Getty Images
On Wednesday, CVS Health surpassed expectations for third-quarter earnings and revenues. The pharmacy chain has been encouraged by an increase in the number of prescriptions and vaccines against Covid. CVS raised its forecast for the year. However, before the adjustments were made, this forecast was revised downward, and shares fell by almost 1% in the premarket. As of the end of Tuesday, CVS shares reached a 52-week high and surged around 33% in 2021. The company has a market value of over $ 120 billion.
4. The CDC finally approves the Pfizer Covid vaccine for children 5 to 11 years old.
Children aged 5 to 11 can receive The Covid-19 vaccine after the CDC approved Pfizer doses for young children on Tuesday night, letting many U.S. parents breathe a sigh of relief. Vaccinations of young children are expected to begin immediately. The FDA granted an emergency clearance for the shots on Friday. The White House said Monday that it has begun the process of moving 15 million doses from Pfizer’s freezers and facilities to distribution centers.
5. Tough night for Democrats in Virginia and possibly New Jersey.
Republican Governor’s nominee Virginia Glenn Youngkin speaks at an election night party at a hotel in Chantilly, Virginia, USA, November 3, 2021.
Jonathan Ernst | Reuters
Glenn Youngkin, wealthy Republican businessman, won the hotly contested election for governor of Virginia, beating Democrat player and former governor Terry McAuliffe in a race that attracted nationwide attention, according to NBC News forecast.
- Potentially even more worried about DemocratsThe New Jersey gubernatorial race between incumbent President Phil Murphy and Republican Jack Chiattarelli was still too close to be called.
- Democrat Eric Adams, a former police captain, was elected mayor of New York. He will be the city’s second black mayor.
– NBC News, Associated Press and Reuters contributed to this report. Follow all market activities like a pro CNBC Pro… Get the latest news on the pandemic with CNBC Coronavirus Coverage…