5 things to know before the stock market opens Friday, November 15

Here are five key things investors need to know to start the trading day:

Jerome Powell is taking his time. The Federal Reserve chair said in a speech to business leaders in Dallas on Thursday that the central bank doesn’t need to be “in a hurry” to reduce interest rates. He said strong U.S. economic growth means policymakers can take their time in deciding how far and how fast they should lower rates. He also noted that the unemployment rate has been rising but remains low by historical standards and that inflation has been running closer to the Fed’s 2% goal.

Shares of vaccine makers fell in late trading Thursday as President-elect Donald Trump nominated vaccine skeptic Robert F. Kennedy Jr. to head the Department of Health and Human Services. Shares of Moderna ended the day more than 5% lower, while Novavax‘s stock sank more than 7% and Pfizer‘s stock closed 2% lower. Investors are worried that elevating Kennedy could boost anti-vaccine rhetoric and lead to fewer Americans getting vaccinated, which would hurt those pharmaceutical companies. The nomination is subject to Senate approval.

Amazon‘s latest effort is taking on direct-to-consumer marketplaces such as Hims & Hers Health and Ro. The tech giant announced Thursday that Prime members will be able to get fixed pricing for treatment of conditions like erectile dysfunction and men’s hair loss. Shares of Hims & Hers plunged after the announcement, falling more than 24% for the company’s worst day on record. Amazon said members will have to pay for a consultation with a clinician and the medication, but there are no additional fees and the products would arrive in a regular Amazon box.

The great bag tie-up is off. Luxury houses Capri and Tapestry mutually called off their planned merger, citing regulatory hurdles, after the Federal Trade Commission sued to block the megadeal. The $8.5 billion acquisition would have seen six fashion brands, including Kate Spade, Michael Kors and Coach, housed under one roof. But Tapestry is abandoning its appeal after losing its case in court last month, saying it can continue to grow on its own. Tapestry said it will reimburse Capri around $45 million for its expenses.

— CNBC’s Brian Evans, Jeff Cox, Annika Kim Constantino, Dan Mangan, Ashley Capoot and Gabrielle Fonrouge contributed to this report.