Zoom Video, Carnival, Peloton, Moderna: What to Watch When the Stock Market Opens Today

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Global markets are taking a hit on Black Friday amid worries about a new Covid-19 variant—but some familiar names are getting a boost. Here’s what we’re watching:

  • Covid-19 vaccine producers were jumping premarket as pandemic fears took hold of markets. Pfizer added 5.3% premarket,  Moderna climbed 8.3% and  Novavax gained 5%.
  • Investors appeared to be positioning for more nights in, with Netflix shares up 2.1% ahead of the bell and DoorDash adding 4.6%.
  • Peloton was also enjoying the prospect of more time spent at home, with its shares up 4.4% premarket.
  • Airlines and cruise operators were again absorbing the brunt of fears over potential new travel restrictions. Delta Air Lines was down 7.4%,  American Airlines shed 7% and  Southwest Airlines slipped 6.8%. Carnival dropped 11% and Royal Caribbean fell 10%.
  • Lodging companies were also suffering amid the gloom. Marriott International fell 7.2% and Airbnb was down 7.1%.
  • U.S.-traded shares of Chinese ride-hailing company Didi Global dropped 6.3% premarket. China’s regulators are asking the company to delist from the New York Stock Exchange, according to a Bloomberg News report.
  • Bitcoin’s dollar price was down 7% from Thursday, and crypto stocks were falling along with it. Coinbase fell 3.9%, and bitcoin miners  Marathon Digital and Hut 8 fell 9.3% and 6.2% respectively.
  • U.S. crude prices are down more than 6%, and energy producers are suffering steep declines. Occidental Petroleum slid 7.5%, Devon Energy fell 7% and Diamondback Energy dropped 7.2%.
  • Alibaba Group Holding Chief Executive Daniel Zhang is devolving power to the heads of the company’s business units to become more agile in tackling rising challenges and potentially open the way for spinoffs, people familiar with the matter said. U.S.-traded shares were down 3.3% premarket.
  • U.S.-listed Chinese e-commerce company  Pinduoduo  is reporting earnings on Friday.
Chart of the Day
  • Coronavirus flare-ups and a regulatory overhaul are clouding the long road to recovery for China’s gambling hub. Macau’s gaming stocks have lost between 23% and 56% since the start of 2021, as the second year of the pandemic has kept what used to be the world’s most lucrative gambling market largely closed off to outside visitors.

Write to James Willhite at james.willhite@wsj.com

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