Here are the top news, trends, and analysis investors need to get their trading day started:
1. S&P futures rise after index closes on another record
The Wall Street sign can be seen in front of the New York Stock Exchange (NYSE) in New York on February 16, 2021.
Brendan McDermid | Reuters
2. The weekly initial jobless claims are expected to decrease
A woman walks outside a store in New York City on February 22, 2021.
John Smith | Corbis News | Getty Images
The Department of Labor will release its weekly look at unemployment claims a week before Wall Street’s opening bell at 8:30 a.m. ET. Economists expect 694,000 new claims for unemployment benefits last week. That would be 25,000 less than in the previous week. While these numbers remain extraordinarily high compared to pre-pandemic records, they continue to decline as the economy continues to reopen and the U.S. is giving 3 million Covid vaccinations a day.
3. Biden reveals actions on guns, including new ATF director
President Joe Biden speaks during an American employment plan event at the South Court Auditorium on the White House campus on Wednesday, April 7, 2021 in Washington.
Evan Vucci | AP
President Joe Biden is expected to unveil a series of law enforcement actions against gun violence on Thursday following a spate of mass shootings. While taking his first major steps in the fight against firearms since taking office, the president will also appoint gun control attorney and ex-federal agent David Chipman as ATF director, according to senior government officials von Biden. These officials said the Justice Department will issue a new proposed rule requiring buyers of homemade weapons – often made from parts and without a serial number – to undergo a background check.
4. Biden is open to negotiating a corporate tax increase
Workers operate a front loader while they make infrastructure repairs in San Francisco, California on April 7, 2021.
Justin Sullivan | Getty Images
Biden said Wednesday he was ready to negotiate a proposed increase in the corporate tax rate to 28% to help fund his infrastructure plan of more than $ 2 trillion. “I am ready to listen,” said the President. However, Biden is under pressure from Democratic Senator Joe Manchin, who has already spoken out against a 28% corporate rate. In a 50:50 Senate, Manchin’s vote could make all the difference. West Virginia lawmakers said Wednesday they opposed a process that makes it easier to pass bills without Republican support.
5. Amazon Union Drive in Alabama sees 55% turnout
People protest in Los Angeles, California on March 22, 2021 to support workers’ union efforts in the Alabama Amazon.
Lucy Nicholson | Reuters
Voting in a high-level vote on whether to unionize any of Amazon’s Alabama warehouses could begin as early as Thursday. More than 3,200 votes were cast, representing a turnout of around 55%, above the estimate originally estimated by the Retail, Wholesale and Department Stores Union. The vote in Bessemer was closely watched inside and outside Amazon as it could create the first union in one of the e-commerce giant’s warehouses in the United States. Amazon workers in many European countries are already unionized.
– Associated Press and Reuters contributed to this report. Follow all market action like a pro on CNBC Pro. Get the latest information on the pandemic on CNBC’s coronavirus blog.
