5 things to know before the stock market opens Tuesday, Nov. 2

Listed below are an important information, tendencies and evaluation that traders want to begin their buying and selling day:

U.S. inventory futures were relatively flat Tuesday, someday after the Dow Jones Industrial Average, the S&P 500 and the Nasdaq all rallied to more record closes to begin November. Traders are ready to see whether or not the Federal Reserve proclaims the beginning of tapering its bond purchases following its two-day assembly, which begins Tuesday. The Fed’s choice may take a look at Wall Avenue’s bullish pattern heading into the seasonably sturdy year-end stretch for the market. Thus far in 2021, as of Monday’s shut, the Dow was up 17.3%; the S&P 500 was up 22.8%; and the Nasdaq was up 21%.

Pfizer rose practically 3% in Tuesday’s premarket after better-than-expected quarterly earnings and income. The American drugmaker raised its full-year sales outlook for its Covid vaccine by 7.5% to $36 billion. Pfizer and its German associate BioNTech hope that Tuesday’s meeting of an advisory panel to the Facilities for Illness Management and Prevention would be the subsequent cease on the highway to full CDC approval for his or her Covid vaccine for teenagers 5-11. The Meals and Drug Administration cleared smaller-dose photographs for the youthful kids Friday. Pfizer’s two-shot vaccine has already been approved to be used in older kids and adults.

Tesla CEO Elon Musk stated Monday night time that his electrical car firm has yet to sign a contract with rental automotive firm Hertz. The tweet from Musk seemingly contradicted a previous announcement and commercial launched by Hertz final week. Tesla hit a $1 trillion market cap for the primary time on Oct. 25 after Hertz stated it could develop its fleet of battery EVs with “an preliminary order of 100,000 Teslas by the top of 2022.” Individually, Tesla is recalling practically 12,000 U.S. automobiles bought since 2017 due to an error which will trigger a false forward-collision warning or surprising activation of the automated emergency braking system. Tesla shares dropped greater than 4% within the premarket.

The Environmental Safety Company on Tuesday will propose guidelines to plug methane gasoline leaks at a whole lot of 1000’s of oil and gasoline wells within the U.S., marking its most aggressive motion but to curb climate-warming greenhouse gasoline emissions. President Joe Biden will formally announce the proposals throughout the second day of the COP26 local weather summit in Glasgow, Scotland. At house, Biden faces extra uncertainty round his social spending invoice. Centrist Democrat Sen. Joe Manchin on Monday demanded more time to guage the $1.75 trillion bundle.

Voters in Virginia go to the polls Tuesday to resolve a detailed off-year race between former Democratic Gov. Terry McAuliffe and Republican Glenn Youngkin, former CEO of personal fairness large The Carlyle Group. Roughly a fifth of Virginia’s 5.9 million voters forged early ballots, practically six occasions greater than in 2017. Biden and former President Barack Obama campaigned for McAuliffe. In contrast, Youngkin eschewed just about all public marketing campaign visits from well-known Republicans, together with former President Donald Trump. The Virginia governor’s race has been a dependable bellwether forward of midterm elections.

— The Related Press and Reuters contributed to this report. Observe all of the market motion like a professional on CNBC Pro. Get the most recent on the pandemic with CNBC’s coronavirus coverage.