5 things to know before the stock market opens Wednesday, Oct. 20

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

1. Wall Street looks steady after S&P 500, Nasdaq saw 5-day win streaks

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 13, 2021.

Brendan McDermid | Reuters

2. Bitcoin inches toward a record high after first bitcoin ETF debuted

3. Netflix beats on subscribers; United reports smaller loss

4. Novavax plunges on reports of Covid vaccine manufacturing problems

Novavax’s stock lost about a quarter of its value in Wednesday’s premarket trading following a Politico report saying the biotech company was having trouble meeting FDA quality standards for its Covid vaccine. Novavax said that in response to a recent news article citing anonymous sources that it confirms its confidence in its ability to deliver its vaccine. In June, Novavax said its coronavirus vaccine was shown to be safe and 90.4% effective overall in a phase three clinical trial of nearly 30,000 participants across the United States and Mexico.

5. New York City workers face expanded Covid vaccine mandate

New York City announced Wednesday an expansion of its Covid vaccine mandate to all public employees, taking away the option to test out. Democratic Mayor Bill de Blasio said in a statement the order applies to more than 160,000 city workers, including police officers and firefighters. It requires workers to have at least one shot by Nov. 1 or be placed on unpaid leave. About 71% of them are already at least partially vaccinated. The numbers are a bit lower in the police and fire departments. The city previously mandated vaccines for public school teachers and the state has previously mandated vaccines for hospital workers.

— The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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