Good morning moomooers! These are today's top things to know before the bell.

• The Dow is set to jump 200 points as vaccine market rally stretches to a third day

• Stocks making the biggest moves premarket: Alibaba, Lyft, Aurora Cannabis, FuboTV, Tencent Music

• While NBC News projects Joe Biden will defeat incumbent Donald Trump, the results of the presidential election won’t be finalized until January.

• Global Stocks Are Higher, but Technology Stocks Tumbled Again in China

Market Snapshot

The Dow is set to jump 200 points as vaccine market rally stretches to a third day

U.S. equity futures rose on Wednesday with the Dow Jones Industrial average set to gain for a third day after news of an effective Pfizer Covid-19 vaccine earlier this week sparked hopes of a return to normal economic activity.

Dow futures added 209 points, or 0.7%. The move implied an opening gain of about 200 points. S&P 500 futures were up 0.7%.

What was different on Wednesday was that technology stocks were bouncing back. Nasdaq 100 futures were up 0.9%. Alphabet and Microsoft both traded 1% higher in the premarket. Apple gained 0.9%. Netflix climbed 0.6%. Facebook and Amazon rose 0.7% each.

The Dow was coming off two back-to-back strong sessions, jumping 262 points on Tuesday and surging more than 800 points on Monday following Pfizer and BioNTech’s announcement about their more than 90% effective Covid-19 vaccine.

Premovers

Stocks making the biggest moves premarket: Alibaba, Lyft, Aurora Cannabis, FuboTV, Tencent Music

$Alibaba Group Holding Ltd(BABA.US)$ – Alibaba shares are under pressure, amid concerns about tighter regulation of big tech firms by the Chinese government.  The decline in Alibaba shares comes despite an upbeat start to the e-commerce giant’s annual 「Singles Day」 event, with more than $56 billion in orders as of this morning. The stock fell 1.7% in premarket trading as of 7:33 a.m. ET.

$Lyft Inc(LYFT.US)$ – Lyft lost more than $280 million during the third quarter, more than double the loss it reported in the same quarter a year ago.  However, Lyft reported better than expected revenue for the quarter and also said it was working on developing a new food delivery service. The shares rose 5% in premarket trading as of 7:33 a.m. ET.

$Aurora Cannabis Inc(ACB.US)$ – The cannabis producer announced plans to raise $125 million through a secondary stock offering.  Under terms of the offering, each share would be priced at $7.50 and the buyer would receive a warrant to purchase another share at $9 within 40 months. The stock dropped 15% in premarket trading as of 7:33 a.m. ET.

$FuboTV Inc(FUBO.US)$ – The streaming TV service did report a larger than expected loss for its latest quarter, but revenue exceeded forecasts and the company also gave an upbeat current quarter outlook.  It expects to end the year with 500,000 to 510,000 subscribers, which would be up 58% to 62% compared to a year earlier. The shares gained 30% in premarket trading as of 7:33 a.m. ET.

$Tencent Music(TME.US)$ – Tencent Music reported better than expected profit and revenue for its latest quarter, boosted by growth in paying users for its music streaming service.  Tencent said it is seeing a continued improvement in the retention rate of paying users. The shares added 4% in premarket trading as of 7:33 a.m. ET.

Top News

Here’s when the results of the 2020 election will be finalized

• While NBC News projects Joe Biden will defeat incumbent Donald Trump, the results of the presidential election won’t be finalized until January.

• States certify election results, the Electoral College casts electoral votes, and Congress counts electoral votes.

• Each state has its own timeline for certifying election results.

Global Stocks Are Higher, but Technology Stocks Tumbled Again in China

Big Chinese technology names took a hit on Wednesday on concerns over a new law aimed at curbing their powers. That is as global equities moved mostly higher, with even signs of a bounce for the Nasdaq Composite.

Shares of Alibabaslid 9%, with sharp losses for Tencent and JD.comas well in Shanghai, in a second day of selling for big-name Asian technology stocks over proposed regulations aimed at the sector. That follows last week’s Hong Kong-Shanghai planned dual listing for Ant Group that was suspended by authorities.

The China CSI 300 dropped 0.9% and the Shanghai Composite fell 0.5%.

DeepMind would have ‘probably failed’ without Google, says early investor

• Founding DeepMind investor Humayun Sheikh told CNBC that the London AI lab would have 「probably failed」 if Google hadn’t bought it.

• Google paid a reported $600 million for DeepMind in 2014.

• While Google has found uses for DeepMind’s AI, its technology has not been widely applied elsewhere and the company costs Alphabet hundreds of millions of dollars a year.

Opinions

Nobel laureate Paul Krugman says Trump ‘will be looming over’ U.S. politics, Republican Party for some time

President Donald Trump may have lost the presidential election but Trumpism is here to stay, according to Nobel-Prize winning economist Paul Krugman and historian Niall Ferguson.

Trump will be looming over his party and the U.S. political scene.

-Paul Krugman, an economics professor at City University of New York’s Graduate Center, told CNBC’s Steve Sedgwickat the virtual Abu Dhabi International Exhibition & Conference