Here’s what we are watching as markets kick into gear Wednesday.U.S. stock futures edged higher, with major indexes set to erase tepid losses from a day earlier and extend their recent rally. The stock indexes ended Tuesday with small declines after Senate Majority Leader Mitch McConnell blocked an effort to hold a vote on sending bigger stimulus checks to many Americans. Read our full market wrap here.

What’s Coming Up

The National Association of Realtors will release pending home sales data for November at 10 a.m. ET. While the housing market was a strong spot for the economy in the spring and summer, pending home sales dropped in October and are expected to fall again in November, by 0.3% from the prior month, amid rising home prices and low inventory.

Moderna said it will offer its Covid-19 vaccine to its own employees and to contractors.

Moderna said it will offer its Covid-19 vaccine to its own employees and to contractors.

Photo: joseph prezioso/Agence France-Presse/Getty Images

Market Movers to Watch

shares rose 2.5% premarket, building on yesterday’s gains. The company said it will offer its new Covid-19 vaccine to its own employees, contractors and board members.

Emergent BioSolutions
rose 2.6%, having earlier gained more than 8% after the company and Mount Sinai Health System announced the start of a clinical program to evaluate whether a therapy could help protect individuals following exposure to Covid-19.

Osmotica Pharmaceuticals
fell 25%. The company on Tuesday received a letter from the FDA suggesting it conduct a new study to provide evidence of the efficacy of a multiple sclerosis treatment.

Market Fact

The Stoxx Europe 600 yesterday rose for its fifth consecutive day. That is its longest winning streak since Thursday, Nov. 5.

Chart of the Day

Companies raised $167.2 billion through 454 offerings on U.S. exchanges this year through Dec. 24, compared with the previous full-year record of $107.9 billion at the height of the dot-com boom in 1999, according to Dealogic.

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