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* Pfizer up on plans to submit U.S. EUA for COVID-19 vaccine
* Ross Stores, Foot Locker gain after results
* Futures: Dow down 0.2%, S&P off 0.1%, Nasdaq up 0.1%
(Adds comment, details; Updates prices)
By Shivani Kumaresan and Medha Singh
Nov 20 (Reuters) - The S&P 500 and the Dow were set to open
slightly lower on Friday as fears grew over fading stimulus and
the blow to the economy from increasing coronavirus infections.
The tech-heavy Nasdaq was on track for a slightly higher
open as investors returned to stocks that have shown resilience
during the pandemic. Netflix Inc NFLX.O , Amazon.com Inc
AMZN.O and Microsoft Corp MSFT.O edged higher premarket.
In a surprise move on Thursday, U.S. Treasury Secretary
Steven Mnuchin said key COVID-19 pandemic lending programs at
the Federal Reserve to support businesses and local governments
would expire by the end of the year. The decision to end the program, which was deemed essential
by the central bank, comes as data showed a rise in jobless
claims last week as new business restrictions to control
spiraling COVID-19 infections likely unleashed a fresh wave of
layoffs. California and Ohio imposed nightly curfews on Thursday,
joining 20 U.S. states to have adopted new mandates to fight the
spread of the virus this month. "I don't think we will go through a full-blown contraction
or a complete shutdown, but as the vaccine starts to roll out
there is potential for tremendous economic improvement next
year," said Scott Brown, chief economist at Raymond James in St.
Petersburg, Florida.
U.S. Senate Democratic leader Chuck Schumer and Republican
Majority Leader Mitch McConnell decided to resume COVID-19
relief talks on Thursday. The S&P 500 and the Dow were little changed over this week
following two strong weeks of gains, as investors juggled
between growing optimism over an effective coronavirus vaccine
and near-term economic damage from the surging virus infections.
Major banks have upgraded their stock market forecasts for
2021 after recent promising data from COVID-19 vaccine trials.
At 08:21 a.m. ET, Dow E-minis 1YMcv1 were down 0.16% and
S&P 500 E-minis EScv1 were down 0.08%. Nasdaq 100 E-minis
NQcv1 were up 0.1%.
Pfizer Inc PFE.N rose 1.8% as the company said it has
applied to U.S. health regulators for emergency use
authorization of its COVID-19 vaccine. Foot Locker Inc FL.N jumped 5.7% after the shoes and
apparel retailer saw an increase in its quarterly same-store
sales, while apparel and home fashion retailer Ross Stores Inc
ROST.O gained 3.4% after its quarterly sales topped
expectations. Gilead Sciences Inc GILD.O fell 1.5% as a World Health
Organization panel advised against the use of remdesivir for
patients hospitalized with COVID-19 as there is no evidence the
drug improves survival or reduces the need for ventilation.