5 things to know before the stock market opens on Friday, November 15
Here are five important things investors need to know to start their trading day:
1. Still have room to run?
2. Powell weighs in
Federal Reserve Chairman Jerome Powell speaks in Dallas on November 14, 2024.
Ann Saphir | Reuters
Jerome Powell is taking his time. the Chairman of the Federal Reserve said in a speech to business leaders in Dallas on Thursday that the central bank does not need to “rush” to lower interest rates. He said strong U.S. economic growth means policymakers can take their time deciding how far and how quickly they should lower interest rates. He also noted that unemployment is rising but remains low by historical standards and inflation is moving closer to the Fed’s 2% target.
3. Vaccine manufacturers fail
Robert F. Kennedy Jr. and Republican presidential candidate and former U.S. President Donald Trump attend a campaign event sponsored by conservative group Turning Point USA, in Duluth, Georgia, U.S., October 23, 2024.
Carlos Barria | Reuters
Shares of Vaccine manufacturers fall late in trading Thursday as President-elect Donald Trump nominated vaccine skeptics Robert F. Kennedy Jr. head of the Department of Health and Human Services. Shares of modern ended the day down more than 5%, while NovavaxIts shares fell more than 7% and PfizerShares closed down 2%. Investors worry that Kennedy’s elevation could fuel anti-vaccine rhetoric and lead to fewer Americans getting vaccinated, which would hurt those pharmaceutical companies. The nomination must be approved by the Senate.
4. Amazon Health
A worker assembles boxes for delivery at an Amazon fulfillment center in Baltimore, Maryland, U.S., April 30, 2019.
Clodagh Kilcoyne | Reuters
AmazonIts latest endeavor is to enter direct-to-consumer sales markets such as Hims & Hers Health and Ro. The tech giant announced Thursday that Prime members will be able to get it Fixed prices for treating diseases such as erectile dysfunction and hair loss in men. Hims & Hers shares plummeted after the announcement, falling more than 24% in the company’s worst day on record. Amazon says members will pay for consultations with clinicians and medications, but there are no additional fees and products will arrive in a regular Amazon box.
5. The deal is packaged
Close-up detail of Coach’s green quilted leather bag, outside Coach, during New York Fashion Week, on February 12, 2024 in New York City.
Edward Berthelot | Getty Images
The great bag tying is off. Luxury house Capri And Carpet mutual cancel their merger plansciting legal hurdles, after the Federal Trade Commission sued to block the megadeal. The $8.5 billion acquisition will bring six fashion brands, including Kate Spade, Michael Kors and Coach, under one roof. But Tapestry is abandoning its appeal after losing a court case last month, saying it can continue to grow on its own. Tapestry said it will reimburse Capri about $45 million in costs.
– CNBC’s Brian Evans, Jeff Cox, Annika Kim Constantino, Dan Mangan, Ashley Capoot and Gabrielle Fonrouge contributed to this report.
