Here’s what we are watching as markets kick into gear Tuesday.
U.S. stock futures are up, suggesting major indexes could hit fresh records after the market opens. Futures linked to the S&P 500 climbed 1%, putting the gauge on track to extend its November rally after it ended last week at its 26th all-time high of the year. Futures tied to the Dow rose 1.1%. Nasdaq 100 futures rose 0.8%. Read our full markets wrap here.
What’s Coming Up
Tech stocks are on the agenda. Shopify , Intel , Micron, Square and IBM are all expected to present at a Credit Suisse technology conference today. Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin will appear before the Senate Banking Committee at 10 a.m. to present a quarterly report to Congress. A survey of U.S. purchasing managers, due at 9.:45 a.m., is expected to show continued, but slower, growth in the manufacturing sector in November. The Institute for Supply Management releases its index of manufacturing activity at 10 a.m.
Market Movers to Watch
—Moderna jumped more than 13% in premarket trade. The drug maker rose 20% yesterday after saying it would ask U.S. and European health regulators to authorize use of its Covid-19 vaccine.
—Shares in Pfizer rose in off-hours trading after the company and partner BioNTech said they were seeking approval from the European Union for their coronavirus vaccine. Pfizer climbed 2.5%.