Here’s what we’re watching ahead of Tuesday’s opening bell.
- U.S. stock futures slipped after authorities recommended pausing use of Johnson & Johnson’s Covid vaccine and ahead of fresh data that is expected to show consumer prices climbed sharply in March.
- Futures tied to the S&P 500 edged 0.3% lower, after holding steady in the European morning. Futures on the technology-heavy Nasdaq-100 ticked down 0.1%. Read our full market wrap.
What’s Coming Up
- The U.S. consumer-price index for March, due at 8:30 a.m. ET, is expected to rise 0.5% from one month earlier and 2.5% from one year earlier. Excluding food and energy, CPI is forecast to rise 0.2% and 1.5%.
- Federal Reserve speakers: Philadelphia’s Patrick Harker on the economic outlook at 12 p.m., Richmond’s Thomas Barkin to the Economic Roundtable of the Ohio Valley at 12 p.m., and the Minneapolis Fed hosts an event on racism and the economy with Kansas City’s Esther George at 12 p.m., San Francisco’s Mary Daly at 1:15 p.m., and Atlanta’s Raphael Bostic, Cleveland’s Loretta Mester and Boston’s Eric Rosengren at 2:50 p.m.
Market Movers to Watch
— Johnson & Johnson shares dropped 3% ahead of the bell. U.S. health authorities recommended pausing the use of its one-shot Covid-19 vaccine to investigate rare but severe cases of blood clots.
—Shares of other vaccine makers gained. Pfizer was up 1.3% and Moderna jumped 7.3%.
— NovoCure shares shot 44% higher premarket after the developer of treatments for tumors gave an update on a phase 3 trial of a treatment for non-small cell lung cancer.
— Fastenal shares dropped 3.5% premarket after it released its latest earnings report.
