Gerri Willis on Johnson & Johnson vaccine<\/p>\n
U.S. stock futures were lower Tuesday after the U.S. Food and Drug Administration recommended Johnson & Johnson’s COVID-19 vaccine be paused amid blood-clotting concerns. <\/p>\n
Dow Jones Industrial Average futures were trading down 136 points, or 0.4%, while S&P 500 futures and Nasdaq futures were weaker by 0.23% and 0.05%, respectively. <\/p>\n
"We are recommending a pause in the use of this vaccine out of an abundance of caution," the FDA tweeted. <\/p>\n
The recommendation comes after a rare and severe blood clot was discovered in six recipients. More than 6.8 million doses of the vaccine have been administered.<\/p>\n
Shares of J&J were down more than 2.5% in premarket trading.<\/p>\n
Travel stocks, including American Airlines Group Inc., Carnival Corp. and Marriott International Inc. were under pressure amid concerns a pause in the administration of Johnson & Johnson’s single-shot vaccine would stunt the reopening of the economy. <\/p>\n
As traders sold reopening names, they put money to work in stay-at-home plays like Peloton Interactive Inc. and Zoom Video Communications Inc. <\/p>\n
In earnings, construction equipment maker Fastenal Co. reported profit and sales that missed Wall Street estimates. <\/p>\n
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo & Co. will report their quarterly results ahead of Wednesday’s opening bell. <\/p>\n
In commodities, West Texas Intermediate crude oil climbed 30 cents to $60 per barrel and gold fell $5 to $1,728.30 an ounce. <\/p>\n