Stocks futures were slightly lower early Friday as rising new coronavirus cases cast doubt on a swift economic recovery.
Futures for the Dow Jones Industrials faded 34 points, or 0.1%, to 29,409.
Futures for the S&P 500 let go of two points, or 0.1%, at 3,578.
Futures for the NASDAQ Composite gained 16.75 points, or 0.1%, to 12,004.
On the bullish side, markets got more good news on the vaccine front with Pfizer and BioNTech saying they will apply for an emergency use authorization for their vaccine from the Food and Drug Administration on Friday. The companies said they can be ready to ship the vaccine within hours after FDA approves the authorization.
California Gov. Gavin Newsom on Thursday issued a “Limited Stay at Home Order” on a majority of the state’s residents, requiring non-essential work and gatherings to cease between 10 p.m. and 5 a.m. Meanwhile, the Centers for Disease Control and Prevention advised Americans against traveling for Thanksgiving.
President-elect Joe Biden said Thursday he will not order a national shutdown as the country heads into a tough holiday season, calling the measure “counter-productive.” Biden, incidentally, turns 78 today, making him the oldest occupant of the White House in history.
Meanwhile, Treasury Secretary Steven Mnuchin is seeking to end a handful of the Fed facilities that bought corporate bonds as well as the Main Street Lending Program targeted towards small- and medium-sized businesses. The move has drawn pushback from the central bank, which said the programs continue to serve an important role to support the vulnerable economy.
Also weighing on sentiment was a disagreement between the Treasury Department and the Federal Reserve over the continuation of funding for some of the emergency programs implemented during the recession.
Overseas, in Japan, the Nikkei 225 index eased back 0.4% Friday, while in Hong Kong, the Hang Seng index gained 0.4%.
Oil prices hiked 26 cents to $42.00 U.S. a barrel.
Gold prices grew $4.30 to $1,865.80 U.S.