Stock futures were pointing higher on Friday, Nov. 13.
Stocks finished lower Thursday as a resurgence of the coronavirus had Wall Street worried that new restrictions aimed at curbing the pandemic will lead to a halt in any economic recovery.
Federal Reserve Chairman Jerome Powell warned at a European Central Bank forum that even if a vaccine is developed by the end of the year there will be serious economic challenges ahead. Powell added the “the main risk we see” to an economic recovery “is clearly the further spread of the disease here in the United States.”
Jim Cramer is going live to discuss what’s driving the markets at 10:30 A.M. ET on Friday, Nov. 13, including the coronavirus, President Trump, Elon Musk, Ford (F) – Get Report, Palantir (PLTR) – Get Report, Disney (DIS) – Get Report and more:
In California, coronavirus cases surpassed 1 million, according to Johns Hopkins University. New York City Mayor Bill de Blasio could shut down the city’s school system, the nation’s largest, by Thanksgiving or earlier. Chicago Mayor Lori Lightfoot issued a 30-day stay-at-home advisory, asking the city’s residents to cancel Thanksgiving plans and stay at home.