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* Gilead up as remdesivir wins approval for treating COVID
* Intel slumps as quarterly margins fall
* American Express falls as profit falls short of estimates
* Futures up: Dow and S&P 0.3%, Nasdaq 0.2%
Oct 23 (Reuters) - Wall Street's main indexes were set for a
higher open on Friday, with investors anticipating progress in
bipartisan talks over the next coronavirus aid bill as the Nov.
3 presidential election gets closer.
White House Chief of Staff Mark Meadows late on Thursday
said that negotiations with lawmakers on a coronavirus relief
package, now totaling $1.9 trillion, have entered a new phase
with congressional committee chairs meeting and the two sides
trading technical language.
"The stimulus talks are continuing so the market is happy
about that even though we probably won't get anything done
before the election," said Thomas Hayes, managing member at
Great Hill Capital LLC in New York.
U.S. House Speaker Nancy Pelosi said on Thursday there was
progress in negotiations with the White House, but Senate
Republicans remained skeptical of a possible deal costing
trillions of dollars.
Uncertainly over the timeline of the relief legislature has
been weighing on Wall Street's major indexes, which were set to
end a choppy week slightly lower.
Meanwhile, a record 47 million Americans cast ballots,
eclipsing total early voting from the 2016 election. President
Donald Trump and Democratic rival Joe Biden debated on Thursday
for the last time to persuade the few remaining undecided voters
12 days before their contest.
Heading into the debate, Trump trailed former vice president
Biden in national polls, but the contest is much tighter in some
battleground states where the election will likely be decided.
At 08:08 a.m. ET, Dow E-minis were up 0.31% at
28,355 points, S&P 500 E-minis rose 0.28% to 3,458.75
points and Nasdaq 100 E-minis gained 0.19% to 11,673.5
Third-quarter earnings season chugged along with 126 S&P 500
firms having reported so far. About 84% of them have topped
quarterly profit estimates, according to Refinitiv data.
Chipmaker Intel Corp tumbled nearly 10% in
premarket trading after it reported that margins fell as
consumers bought cheaper laptops and pandemic-stricken
businesses and governments clamped down on data center spending.
Gilead Sciences Inc jumped 4% as its antiviral drug
remdesivir became the first and only drug approved for treating
patients hospitalized with COVID-19 in the United States.
American Express Co dropped 2.8% as it missed
third-quarter profit estimates after its customers spent less
during the COVID-19 fueled economic slowdown and it set aside
money for potential payment defaults.
(Reporting by Medha Singh and Shivani Kumaresan in Bengaluru;
Editing by Arun Koyyur, Bernard Orr)