By Jem Bartholomew Close Jem Bartholomew Updated Oct. 2, 2020 9:04 am ET Here’s what we are watching as markets kick into gear Friday. —U.S. stock futures dropped sharply Friday after President Trump and first lady Melania Trump tested positive for Covid-19, adding to the political uncertainty in the final weeks before the election. The Dow Jones Industrial Average is poised to open over 450 points lower. Oil prices are getting hammered for a second day. Read our full market wrap here. —Breaking news. Job creation slowed to 661,000 with 7.9% unemployment last month, suggesting labor-market improvements from the coronavirus downturn are moderating as employers confront a prolonged period of uncertainty. —IPOs to watch. Academy Sports and Outdoors, C4 Therapeutics, Immunome and Oncorus are among the companies that will make their trading debuts on U.S. exchanges. An array of blank-check companiesincluding Apollo Strategic Growth Capital and Atlantic Street Acquisition will also begin trading, continuing the boom in special purpose acquisition companies. Tesla shares dropped in premarket trading. The stock was snubbed once again by the S&P 500 index. Photo: Ben Margot/Associated Press Market Movers to Watch Tesla dropped almost 5% ahead of the market open. The stock was rebuffed once again by the S&P 500 index, which on Thursday said it would add Pool and take out E*Trade Financial. Separately, vehicle deliveries hit a new record in the most recent quarter, accelerating the Silicon Valley car maker’s recovery. Amazon.com shed 2.2% in offhours trading, leading a number of market heavyweights lower. Uber Technologies dropped 3% ahead of the opening bell. The ride-hailing app is selling a stake in its Uber Freight truck brokerage arm for $500 million to investors in a funding round led by Greenbriar Equity Group LP. That will pump fresh cash into a business that has been growing rapidly while also losing money at a fast clip. Walmart edged down 1.4% premarket. The world’s largest retailer agreed to sell its U.K. grocery-store chain Asda Group to a private investment group in a deal that values the company at about $8.8 billion. Walmart is reorganizing its international businesses in favor of bets on the growth of online services. Twilio gained 9% in offhours trading. Two analysts said the stock could reach $315-$320 apiece in coming months. It closed Thursday at roughly $256. Gilead Sciences was largely flat in early trading. The U.S. government is relinquishing control over supplies of remdesivir, the Covid-19 drug made by the company that had been in shortage since it was authorized for emergency use in May. Must Reads Since You Went to Bed After Record U.S. Corporate-Bond Sales, Slowdown Expected Shale Companies Had Lousy Returns. Their CEOs Got Paid Anyway. Moody’s downgrades New York State, New York City Credit Ratings Tokyo Stock Exchange Resumes Trading After Daylong Shutdown Trian Takes Stakes in Invesco, Janus Henderson With Eye on Deals Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
PieGG was started with a common goal of serving the finance community while they make transitions. All our team members bring to table their unique expertise and experience of stock market which they would like to pass on to future investors.
Stay Connected
contact
US Office
39843 Cedar Blvd, Newark, CA, 94560, United States
:+1 408 444 7337
info@piegg.com