Here are the most important news, trends and analysis investors need to start their trading day:
1. Stock futures rise after S&P 500, Nasdaq broke 3-day loss streaks
Traders work on the floor of the New York Stock Exchange (NYSE), October 12, 2021.
Brendan McDermid | Reuters
2. Wholesale inflation data, jobless claims before the bell
The government released two key economic reports ahead of Wall Street’s opening on Thursday: the September producer price index and the first jobless claims. Initial claims for unemployment benefits fell to a Covid-era low of 293,000 for the week ending October 9, fewer claims than expected. The overall PPI and the core PPI, which exclude the food and energy sectors, rose 8.6% and 5.9% from a year ago, respectively, similar year-over-year increases in August. Thursday’s wholesale inflation came after Wednesday’s high consumer inflation data. With price pressures mounting, Social Security’s cost of living adjustment next year will be 5.9%, the biggest increase in about 40 years.
3. Banks and companies in the health sector see their shares increase thanks to good results
The pace of the earnings season picked up on Thursday, with a slew of banks reporting quarterly earnings ahead of the bell and their shares increasing in pre-market trading.
Dow UnitedHealth and Walgreens Boots Alliance shares also reported better than expected earnings and income. These stocks jumped into the pre-market.
4. FDA Vaccine Panel Prepares to Consider Moderna, J&J Boosters
A registered nurse applies a dose of the Moderna COVID-19 vaccine to Larry Hammers, 62, a Sarasota hospital employee at the Sarasota Memorial Hospital in Sarasota, Fla. On September 24, 2021.
Shannon Stapleton | Reuters
The FDA’s vaccine advisory group meets on Thursday to consider a booster for Moderna’s two-shot Covid diet. FDA scientists on Tuesday refused to take a position. The agency’s panel then meets on Friday to consider a booster of Johnson & Johnson’s single-dose vaccine and mixed vaccine data. A long-awaited NIH study, released Wednesday, suggests that J&J beneficiaries had better receive a recall from Pfizer or Moderna. Also on Wednesday, the FDA said data provided by J&J suggests recipients may benefit from an additional dose. A booster of Pfizer’s two-shot vaccine was approved for some groups of people last month.
5. Foreclosures increase as Covid mortgage bailouts expire
fstop123 | E + | Getty Images
Foreclosures are starting to jump as government and private sector programs designed to help homeowners cope with the economic fallout from the Covid pandemic have begun to expire. Mortgage lenders began the process of foreclosing on 25,209 properties in the third quarter, an increase of 32% from the second quarter. Year over year, this is a 67% increase from the third quarter of 2020, according to Attom, a mortgage data company. The states with the most new seizures were California, Texas, Florida, New York and Illinois.
– Follow all market actions like a pro on CNBC Pro. Get the latest pandemic news with CNBC’s coronavirus coverage.