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5 things to know before the stock market opens Thursday

Here are the most important news, trends and analysis that investors need to start their trading day:

  • Wall Street set to start another mixed session
  • 10 Republicans vote for Trump impeachment
  • Biden to unveil Covid mitigation plan
  • J&J’s one-shot coronavirus vaccine safe
  • Petco, Poshmark set to debut on Nasdaq

1. Wall Street set to start another mixed session

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Traders on the floor of the New York Stock Exchange.

Dow and S&P 500 futures rose but Nasdaq futures fell Thursday, a day after a mixed session left all three stock benchmarks less than 1% away from their record highs. Shortly after Wednesday’s market close, the House impeached President Donald Trump for inciting an insurrection at the Capitol last week. Premarket stock reaction was relatively muted because the House vote was widely expected. Investors will also focus on the Labor Department’s weekly jobless claims data at 8:30 a.m. ET. Economists are calling for a rise to 800,000 in new unemployment benefits filings for the week ending Jan. 9. Delta Air Lines cut in half its cash burn and narrowed its losses in the fourth quarter as the coronavirus pandemic drove the carrier to its worst year ever. Shares in the premarket rose more than 1%.

2. 10 Republicans vote for Trump impeachment

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U.S. House Speaker Nancy Pelosi (D-CA) shows the article of impeachment against U.S. President Donald Trump after signing it in an engrossment ceremony, at the U.S. Capitol in Washington January 13, 2021.

Ten Republicans joined all of the House Democrats in a 232-197 vote to impeach Trump. GOP Sen. Mitch McConnell, majority leader until Georgia certifies the Democrats’ two runoff election wins, said the Senate won’t start Trump’s trial until Tuesday. That’s one day before President-elect Joe Biden‘s inauguration, which is expected to be locked down with unprecedented security. In a video released Wednesday, Trump sent his clearest condemnation yet of last week’s Capitol riot. However, he took no responsibility and made no mention of impeachment.

3. Biden to unveil Covid mitigation plan

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President-elect Joe Biden puts on a mask after receiving his second dose of the Pfizer/BioNTech COVID-19 vaccination at ChristianaCare Christiana Hospital on January 11, 2021 in Newark, Delaware.

Biden is expected to unveil Thursday a coronavirus action plan, centering on a mass vaccination program and closer coordination among all levels of government. The Biden plan comes as the U.S. battles another surge in Covid-19 cases and deaths.

Mainland China on Thursday reported its first Covid death since May as authorities try to control a spike in cases just outside of Beijing. The Covid flare-up there unfolds as a WHO team arrives in Wuhan, where the novel coronavirus was first discovered in late 2019, to investigate the origins of the virus alongside Chinese scientists.

4. J&J’s one-shot coronavirus vaccine safe

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Johnson & Johnson Coronavirus vaccine illustration

Johnson & Johnson’s one-dose Covid vaccine is safe, and it appears to generate a promising immune response in both young and elderly volunteers, according to trial data published in the New England Journal of Medicine. J&J is expected to release results from its 45,000-person phase three trial later this month, which could then lead to a third vaccine approved for emergency use in the U.S. by the FDA. J&J is using the same technologies behind its Ebola vaccine where as Pfizer and Moderna employed a new approach for their respective two-shot vaccines.

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5. Petco, Poshmark set to debut on Nasdaq

Two initial public offering are set to debut on the Nasdaq on Thursday. Petco priced its IPO at $18 per share, above the expected range of $14 to $17, valuing the pet products retailer at nearly $4 billion. Poshmark, also Wednesday evening, priced its IPO at $42 per share, above the expected range of $35 to $39. The offering gives the online secondhand goods seller an initial valuation of more than $3 billion.

— The Associated Press and Reuters contributed to this report. Follow all the developments on Wall Street in real time with CNBC Pro’s live markets blog. Get the latest on the pandemic with our coronavirus blog.

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