BY THE NUMBERS

Dow futures fell about 200 points Wednesday as investors get ready for a slew of economic numbers, while grappling with earnings misses that crushed shares of Gap and Nordstrom in the premarket and Covid concerns in Europe, with Germany set to decide on tighter mitigation measures, including a possible full lockdown and a vaccine mandate. (CNBC)

The Nasdaq on Tuesday fell 0.5%, its second straight down day. The Dow's gain of 194 points, or nearly 0.6%, put the 30-stock average on a two-session winning streak. The S&P 500's 0.17% advance snapped a two-day slide. The Nasdaq and the Dow were less than 2% from their record high closes on Nov. 19 and Nov. 8, respectively. The S&P 500 was 0.3% shy of its Nov. 18 record close. (CNBC)

* Cathie Wood says her firm is testing a more aggressive strategy that would be 'ARK on steroids' (CNBC)
* Cathie Wood says her funds should quadruple over the next 5 years (CNBC Pro)
* Cathie Wood explains why she bought a ton more Zoom Video on the dip (CNBC Pro)

The economic calendar is overflowing Wednesday, one day before the market closes for Thanksgiving Day. One hour before the opening bell, the government said initial jobless claims fell to 199,000, the first time below 200,000 during Covid and a number not seen since Nov. 15, 1969, when claims totaled 197,000. A revised third-quarter GDP advance of 2.1% was slightly above the previous reading, but it was slightly below estimates. October durable goods orders fell 0.5%. Economists had expected a 0.3% increase. (CNBC)

At 10 a.m. ET, investors get prints on October personal income and spending as well as the Federal Reserve's favorite inflation indicator: the core personal consumption expenditures price index. October new home sales and final November consumer sentiment numbers are also due. The stock market closes early Friday. "Morning Squawk" returns on Monday.

* Not since post-World War II-era has inflation run through the economy like now (CNBC)