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* Boeing surges on 737 MAX jet approval
* Pfizer gains on improved final vaccine trial data
* Lowe's slides after forecast disappoints
* Target, TJX rise after results beat
* Futures up: Dow 0.4%, S&P 0.2%, Nasdaq 0.1%
(Adds comments, details; updates prices)
By Shivani Kumaresan and Medha Singh
Nov 18 (Reuters) - Wall Street was set to open slightly
higher on Wednesday as fresh signs of a COVID-19 vaccine fueled
bets of faster economic revival next year, while Boeing surged
after it won U.S. approval to resume flights of its 737 MAX jet.
The planemaker's shares BA.N jumped about 6.5% in
premarket trading as it geared up to resume deliveries of the
jet after a 20-month grounding following two fatal crashes.
The news also lifted shares of airlines. American Airlines
AAL.O gained 1.9% and Southwest Airlines LUV.N added 2.5% as
the carriers laid out plans to fly the aircraft again.
Meanwhile, Pfizer Inc PFE.N said it would apply for
emergency U.S. authorization of its COVID-19 vaccine within days
and disclosed final results from a late-stage trial that showed
it was 95% effective. The drugmaker's shares rose 2.9%.
The announcement comes after Moderna Inc MRNA.O on Monday
released preliminary data for its COVID-19 vaccine, showing
similar effectiveness.
"With earnings announcements coming in better than expected
from the retail space and the positive news on Boeing, it should
drive interest in cyclicals," said Robert Pavlik, senior
portfolio manager at Dakota Wealth, New York.
"It is sort of a mad rush because the thinking is that the
economy is going to be in better shape six months to a year from
now."
Target Corp TGT.N rose 2.8% after the big-box retailer
blew past expectations for quarterly profit and sales, as its
quick delivery services boosted online shopping. Discount store operator TJX Companies Inc TJX.N rose about
4% after beating quarterly sales estimate. At 08:28 a.m. EST, Dow E-minis 1YMcv1 were up 0.39%, S&P
500 E-minis EScv1 were up 0.22% and Nasdaq 100 E-minis NQcv1
gained 0.13%.
The benchmark S&P 500 .SPX and the blue-chip Dow .DJI
retreated from all-time highs on Tuesday as glum U.S. retail
sales data, as well as the specter of fresh restrictions
dampened demand for risky assets.
The number of reported global daily deaths from the
coronavirus stood at its highest ever on Tuesday, as the virus's
global epicenter the United States entered winter. Lowe's Cos Inc LOW.N tumbled 6% as the home improvement
chain forecast holiday-quarter earnings largely below analysts'
estimates.