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Stock market opens Friday   The S&P 500 showed slight gains and U.S. equity futures fell on Friday, the day after the two-session losing skid was cut. The S&P 500 and Dow futures are down about 0.4%, while the Nasdaq futures are down about 0.25%. The 30-share Dow is on a three-day continuation and has been at its worst weekly pace since June. The Nasdaq, which rose 0.1% on Thursday, is on its way to the worst week since May.

 Stock market opens Friday  Among the factors putting pressure on Wall Street this week are concerns about the possibility of the Federal Reserve reducing its asset purchases and the pace of economic recovery in the face of rising Covid cases. The benchmark 10-year Treasury yield was 1.235% on Friday morning, down nearly one basis point.

2. Joaquin Duato replaces Alex Gorski as J&J CEO
Joaquin Duato, Executive Vice President and Global Chairman of Pharmaceuticals, Johnson & Johnson, Tuesday, January 31, 2017.
Joaquin Duato, Executive Vice President and Global Chairman of Pharmaceuticals, Johnson & Johnson, Tuesday, January 31, 2017.
Andrew Haller | Bloomberg | Getty Images
Joaquin Duato was announced Thursday, January 3, as the chief executive of Johnson & Johnson on behalf of Alex Gorsky, a pharmaceutical giant. Dow component shares fell slightly in pre-market trading on Friday as investors processed the news. Duato, currently the vice chairman of the executive committee, will also be promoted to the J&J board of directors. Gorski, chairman and CEO, will step down as executive chairman in 2012. Gorsky has led the company in tackling multiple legal issues related to torso-based baby powder and other products, as well as the opioid crisis.

3. China approves major data protection laws
Chinese flag
Chinese flag
Russell Monk | Image Bank | Getty Images
According to state media, China’s legislature on Friday approved a major data protection law. This follows a strict regulatory approach for Beijing’s technology companies in recent weeks. The final version of the Personal Data Protection Act has not yet been announced, but it is said that companies have strict rules regarding the collection and storage of users’ personal information. According to Reuters, the law will take effect on November 1 and could add rules that companies doing business in the country must comply with.

Investors have become more skeptical of Chinese companies since the government cracked down on Didi and other industry, ride-healing giants in early July. On Thursday, Star Money manager Kathy Wood told CNBC that they believe these recent events, particularly related to the online education industry, “have long been our memories.” “It can happen in any industry,” he added.

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