Dow futures rise on Disney, vaccine optimism

FAN Editor

U.S. stock futures moved higher on Friday, helped by better-than-expected earnings and vaccine optimism.

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DOW FUTURES RISE 200+ POINTS 

Dow Futures tacked on more than 200 points, with shares of Disney fueling some of the gains up 3% in the early session after reporting better-than-expected quarterly results, even with the negative impact of the pandemic.

DISNEY+ SILVER LINING IN PANDEMIC PLAGUED QUARTER

Ticker Security Last Change Change %
DIS WALT DISNEY COMPANY 135.52 -2.30 -1.67%

Other stocks to watch this morning include Pfizer, BioNTech and Eli Lilly, which are all expected to open higher.

Ticker Security Last Change Change %
PFE PFIZER INC. 37.55 -0.95 -2.47%
BNTX BIONTECH SE 101.63 -7.82 -7.14%
LLY ELI LILLY & COMPANY 141.03 -3.73 -2.58%

DOW AND S&P 500 ON PACE FOR WEEKLY GAINS

Any gains on Friday will extend the Dow’s weekly rise of nearly 3% and a more modest 0.8% for the S&P 500. The Nasdaq is pacing for a 1.6% drop as investors rotated out of large-cap take for several sessions.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 29080.17 -317.46 -1.08%
SP500 S&P 500 3537.01 -35.65 -1.00%
I:COMP NASDAQ COMPOSITE INDEX 11709.588657 -76.84 -0.65%

Stocks slipped Thursday after Fed Chair Jerome Powell warned on rising COVID-19 cases. “With the virus spreading now it could be a challenging two months,” he said during a Q&A session at the European Central Bank Forum.

OIL SLIPS LOWER

Oil trended down to the $40 per barrel level as investors debate how much demand may rebound when a vaccine hits the market.

ECONOMIC DATA

As for economic data, the Producer Price Index rose 0.5% year-over-year slightly higher than estimates tracked by Refinitiv. Excluding the volatile food and energy component, prices rose 1.1% year-over-year.

In other reports, the University of Michigan’s preliminary index of consumer sentiment for November is due at 10 a.m. EST. It’s expected to inch up to 82.0 from October’s final reading of 81.8, which was the highest since March. This represents a real-time sentiment picture vs. other lagging indicators.

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