Here are five key things investors need to know to start the trading day:
1. A presidential surge
Stocks rallied Wednesday morning as former president Donald Trump defeated Vice President Kamala Harris to win 2024 presidential election, NBC News projects. Futures on the Dow Jones Industrial Average leaped 1,254 points, or about 2.9%, the first time the Dow has jumped more than 1,000 points in a single day since November 2022. S&P 500 futures soared 2.4% and Nasdaq 100 futures rallied 1.8%. Follow live market updates.
2. Trump projected to win presidency
3. CVS earnings
CVS Health on Wednesday reported mixed third-quarter results as higher medical costs put pressure on its performance. While adjusted earnings per share were $1.09, below the $1.51 a share analysts surveyed by LSEG expected, growth in its pharmacy business and insurance unit pushed sales to $95.43 billion, up 6.3% from the same period a year ago. CVS also named Steve Nelson, former CEO of …