Here are five things you must know for Tuesday, Oct. 13:
1. — Stock Futures Waver After J&J Vaccine Trial Pause
Stock futures fluctuated Tuesday following a setback in a coronavirus vaccine trial being conducted by Johnson & Johnson (JNJ) – Get Report and as Wall Street prepared for the start of earnings season.
Contracts linked to the Dow Jones Industrial Average fell 106 points, S&P 500 futures slipped 9 points and Nasdaq futures rose 29 points.
Johnson & Johnson paused its trial of a vaccine for Covid-19, the disease caused by the coronavirus, following an unexplained illness in a patient.
The healthcare giant said the trial participant’s illness was being reviewed and evaluated.
“We are committed to providing transparent updates throughout the clinical development process of our vaccine candidate, in compliance with regulatory standards and our own high ethical and scientific principles,” J&J said in a statement.
“Adverse events – illnesses, accidents, etc. – even those that are serious, are an expected part of any clinical study, especially large studies,” the company added.
Shares of J&J declined 2.53% to $148 in premarket trading.The company also will be reporting quarterly earnings Tuesday.
Stocks closed higher Monday, with the S&P 500 rising 1.64% and the Nasdaq jumping 2.56% on strong gains in such technology giants as Apple (AAPL) – Get Report, Amazon.com (AMZN) – Get Report and Microsoft (MSFT) – Get Report.
2. — JPMorgan Chase, Citigroup and Delta Report Earnings
In addition to Johnson & Johnson, earnings reports are expected Tuesday from JPMorgan Chase (JPM) – Get Report, Citigroup (C) – Get Report, Delta Air Lines (DAL) – Get Report and BlackRock (BLK) – Get Report.