Tag: Friday

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5 issues to know earlier than the inventory market opens Friday

Earnings reports, the Fed will test the market rally in the week ahead

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow futures rise as stocks head for winning week

A Wall Street sign is seen near the New York Stock Exchange (NYSE) in New York City, May 4, 2021.

Brendan McDermid | Reuters

Futures contracts for the Dow Jones Industrial Average jumped more than 150 points on Friday morning, leading the way as Wall Street looked to head into Memorial Day weekend with a winning week. The Nasdaq Composite has been the best performer this week, rising nearly 2%, while the S&P 500 and Dow have added roughly 1.1% and 0.7%, respectively. For the month, the S&P 500 and Dow are positive while the Nasdaq is down 1.6%.

Dow futures were helped by Salesforce, which rose more than 4% in premarket trading after a stronger-than-expected first-quarter report.

2. Meme stocks surging again

People wear face masks as they walk by a movie theater during the coronavirus disease (COVID-19) pandemic in Newport, New Jersey, April 2, 2021.

Eduardo Munoz | Reuters

The renewed surge in so-called meme stocks that are popular on Reddit showed no signs of slowing on Friday morning. Shares of movie theater chain AMC jumped more than 20% in premarket trading, while GameStop was up nearly 5%.

AMC’s stock price has more than doubled over the past week, while GameStop could open at its highest level since March.

3. Biden to unveil $5 trillion spending proposal

U.S. President Joe Biden delivers remarks on the economy during a visit to Cuyahoga Community College in Cleveland, Ohio, May 27, 2021.

Evelyn Hockstein | Reuters

President Joe Biden is set to release a proposal that calls for $5 trillion in additional spending over the next decade, a source familiar with the proposal tells CNBC. The proposal also includes raising $3.6 trillion in spending over that time frame, leaving an additional net deficit of $1.4 trillion.

The new spending is for Biden’s proposals to boost and extend the economic recovery: the American Jobs Plan and the American Families Plan.

The plan calls for $300 billion of that spending to be included in the 2022 fiscal year budget, which would push the total spending to $6 trillion for that period, according to the source.

4. Microsoft warns that the SolarWinds hackers are back

The Russian hackers thought to be responsible for the SolarWinds cyberattack have launched another assault, this time using emails from the U.S. Agency for International Development, according to Microsoft. The group, known as Nobelium, sent phishing emails to more than 3,000 accounts using a marketing email address from the platform Constant Contact used by the aid industry, Microsoft said in a blog post. The attack has target organizations across at least 24 countries, and at least a quarter of those organizations are involved in international development, humanitarian, and human rights work, Microsoft said.

5. Cathie Wood downplays inflation

Cathy Wood

Crystal Mercedes | CNBC

Don’t count Ark Invest’s Cathie Wood among the major investors worried about inflation. The star fund manager said Thursday during a conference that deflation was actually a bigger concern, predicting that prices for commodities and key industrial inputs would fall later in the year once the demand crush of the economic reopening normalizes.

A deflationary environment would be good innovation tech stocks and bitcoin, Wood said. She is a long-time bull of both asset classes.

— Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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Health

5 issues to know earlier than the inventory market opens Friday, Could 21

5 things to know before the stock market opens Friday, May 21

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks bet on more profits after stopping their three-day losing streak

Traders working on the New York Stock Exchange (NYSE) on May 19, 2021.

NYSE

US stock futures pointed to a second straight day of gains on Wall Street, the day after a rebound rally halted a three-session loss. The Nasdaq rose nearly 1.8% on Thursday, dragging the tech-heavy index into positive territory for the week. Prior to Friday’s trading, the Dow Jones Industrial Average and S&P 500 were still lower for the week, despite progressing more than 0.5% and 1% respectively on Thursday. Tesla, chip stocks, and other speculative names that had great success in the previous session rebounded on Thursday as bitcoin prices rebounded.

2. Bitcoin is hovering above $ 40,000 after a wild week

A representation of the virtual currency Bitcoin can be seen in this illustration from May 19, 2021 in front of a stock graph.

Given Ruvic | Reuters

Bitcoin was trading above $ 40,000 on Friday as the rebound of the world’s largest cryptocurrency by market value stabilized to a three-month low near $ 30,000 after its collapse on Wednesday. Limiting concerns about U.S. demands for stricter cryptocurrency compliance with the IRS has been a concern to keep profits under control. The Treasury Department announced steps Thursday to require that transfers of $ 10,000 or more be reported to the IRS. At this week’s lows, Bitcoin fell more than 50% from April’s all-time highs near $ 65,000.

3. The US proposes a global minimum corporate tax rate of 15%

Treasury Secretary Janet Yellen speaks during a daily press conference in the James Brady Press Briefing Room of the White House on May 7th in Washington, DC.

Alex Wong | Getty Images

The Biden government is proposing a minimum global corporate tax rate of 15%. However, Treasury said Thursday that the final rate could be even higher, citing 15% a “floor”, and discussions should continue to be ambitious and increase that rate. Treasury Secretary Janet Yellen, who was Jerome Powell’s predecessor as chairman of the Federal Reserve, said setting a global minimum rate would help halt the “race to the bottom” for tax rates around the world.

4. Tim Cook, Apple’s CEO, wants to testify in the Epic Games case

CEO Tim Cook speaks at an Apple event at corporate headquarters in Cupertino, California on September 10, 2019.

Stephen Lam | Reuters

Tim Cook, Apple’s CEO, will take the stand on Friday to defend the company’s app store against allegations that have become an illegal monopoly. Apple relies on Cook’s appearance to complete the company’s defense against antitrust proceedings by Fortnite manufacturer Epic Games. Epic claims Apple’s App Store has turned into a budget vehicle that earns 15% to 30% commissions from in-app transactions and prevents apps from offering other payment alternatives.

5. Tesla is raising prices for the fifth time in recent months

Tesla’s Model Y compact crossover vehicles in a showroom in Shanghai, China on Jan. 18, 2021.

VCG | Visual China Group | Getty Images

According to EV news site Electrek, Tesla has raised prices for its 3 and Y models for the fifth time in the past few months. The Model 3 Standard Range Plus and Model 3 Long Range AWD rose by $ 500 and now started at $ 39,490 and $ 48,490, respectively. The Y Long Range AWD model also rose $ 500 and now started at $ 51,490. No reason was given for the increases. The prices for the Model 3 Performance and Model Y Performance vehicles have not been increased.

– The Associated Press contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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Health

5 issues to know earlier than the inventory market opens Friday, Could 7

5 things to know before the stock market opens Friday, May 7

Here are the top news, trends, and analysis investors need to get their trading day started:

1. Dow futures fell on poor jobs report

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dow futures turned negative and 10-year government bond yields briefly fell below 1.5% after the government’s April employment report fell well below estimates. The economy hired only 266,000 non-agricultural workers last month, the Labor Department said on Friday morning. It is estimated that 1 million new additions were required. The Nasdaq, which recently moved in the opposite direction from bond yields, should open significantly higher.

The Dow Jones Industrial Average rose nearly 1% on Thursday to another record high. A similar rise in the S&P 500 resulted in the index falling within 10 points of last month’s record close. The Nasdaq rose 0.4%, breaking a four-session loss but still more than 3.5% from the record close of April. Ahead of Friday’s Wall Street opening, the tech-heavy Nasdaq fell over 2.3% for the week. The Dow and S&P 500 rose nearly 2% and nearly 0.5%, respectively, over the week.

Pfizer’s shares were unchanged, while BioNTech rose 5% on the Friday before entering the market after the two companies announced they would file for full approval of their Covid vaccine in the United States. Full approval would allow companies to market the two-shot regimen directly to consumers. The FDA granted emergency approval status in late December.

April 2nd jobs really win the mark

Server Adrian Almanza brings appetizers to a table at the Satay Thai Bistro and Bar in Las Vegas, Nevada, March 28, 2021.

Bridget Bennett | Reuters

The hiring of staff in April was a huge disappointment. The number of non-farm workers rose much less than expected and the country’s unemployment rate rose to 6.1% as business reopenings struggled with an escalating shortage of available labor. The originally estimated 916,000 new jobs in March have been revised significantly to 770,000, despite a sharp upward revision to 536,000 in February.

Investors are watching these employment numbers closely as the Federal Reserve has pledged to maintain its extraordinarily simple monetary policy, including near zero interest rates, until the job market heals and inflation picks up. However, many traders believe that inflation will quickly become a problem and the Fed may need to rethink its highly accommodative stance and make adjustments earlier than forecast.

3. The Fed warns of possible “significant declines” in asset prices

The Federal Reserve building can be seen in Washington, DC on March 19, 2021.

Daniel Slim | AFP | Getty Images

Rising asset prices in stock markets and elsewhere pose a growing threat to the financial system, the Fed warned. In its semi-annual financial stability report, the central bank said the danger lurks on Thursday should market sentiment change. “High asset prices reflect in part the persistently low levels of government bond yields. However, valuations of some assets are elevated from historical norms even when measures are applied that take government bond yields into account,” the report warns. “In this environment, asset prices may be vulnerable to significant declines should appetite decline.”

4. India reports more than 400,000 new daily cases for the third time in a week

Health care workers and health care workers transport a woman out of an ambulance for treatment at a COVID-19 care facility amid the spread of coronavirus disease (COVID-19) in Mumbai, India on May 4, 2021.

Niharika Kulkarni | Reuters

Daily India has seen new cases of Covid in India for the third time this month as the South Asian country battled a devastating second wave. Health ministry data released on Friday showed 414,188 new Covid infections over a 24-hour period, in which at least 3,915 died from the disease. However, reports of overwhelmed crematoriums and cemeteries, as well as a growing number of obituaries in newspapers, suggest that the official numbers underestimate the real death toll. Many places have tightened covid containment measures despite the Indian government resisting a national lockdown.

5. Peloton hits $ 165 million as a result of a recall of its treadmills

A monitor displays the signage of Peloton Interactive Inc. during the company’s IPO across the Nasdaq MarketSite in New York, the United States, on Thursday, September 26, 2019.

Michael Nagle | Bloomberg | Getty Images

Peloton anticipates fiscal fourth quarter revenue to decrease $ 165 million due to a recall of its treadmills. Peloton’s shares fell nearly 15% on Wednesday after the company announced a voluntary recall after a child died and dozens were injured in accidents involving the Tread + machine. The stock rose 1.4% on Thursday.

Shares rose nearly 7% on the Friday before going public, the morning after the fitness equipment company reported third-quarter sales up 141% to a better-than-expected $ 1.26 billion. Demand for cycles, which make up most of the business, remained strong. Peloton’s adjusted loss per share of 3 cents for the third quarter of fiscal year was well below estimates.

– Follow all market action like a pro on CNBC Pro. Get the latest information on the pandemic with CNBC’s coronavirus coverage.

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Business

5 issues to know earlier than the inventory market opens Friday, April 30

5 things to know before the stock market opens Friday, April 30

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks falling, big tech and big oil gains in focus

Traders working on the New York Stock Exchange (NYSE) today, Wednesday, April 21, 2021.

Source: NYSE

US stock futures fell Friday, despite the fact that Amazon stocks rose 2% in the pre-market a day after the e-commerce and cloud giant reported quarterly blowout results. The government’s release of personal income data at 8:30 a.m. ET in March is also on investor radar. The last round of Covid stimulus checks is likely to have increased income by 20% last month.

The S&P 500 rose 0.7% on Thursday to close on a record high. The Dow Jones Industrial Average saw similar gains but remained slightly below its record high earlier this month. The Nasdaq lagged behind with a plus of 0.2% and also just ended the record on Monday. With one day left in April, the Nasdaq and S&P 500 rose more than 6% for the month. The Dow’s monthly profit was just over half.

2. Amazon’s results dazzle when Twitter’s business falters

Jeff Bezos, CEO of Amazon

Alex Wong | Getty Images

Late Thursday, Amazon reported record earnings for the fourth straight quarter with earnings of $ 15.79 per share. Revenue of $ 108.52 billion for the first quarter also beat forecasts. The company showed strength in all business areas. Amazon also said it doesn’t expect the Covid-triggered boom in online shopping to wear off once the pandemic recedes.

Jack Dorsey, CEO of Twitter, testifies during a video hearing held by subcommittees of the US House of Representatives’ Energy and Trade Committee on “The Role of Social Media in Promoting Extremism and Misinformation” on March 25, 2021 in Washington .

CNBC

Twitter warned of soaring costs and a possible slowdown in user growth late Thursday, sending stocks in premarket trading down more than 12%. The social media network beat estimates, however, with adjusted earnings per share of 16 cents in the first quarter. Revenue of $ 1.04 billion and monetizable daily active users of 199 million were largely in line with analysts’ forecasts.

3. According to the EU, the Apple App Store violates competition rules

CEO Tim Cook speaks at an Apple event at corporate headquarters in Cupertino, California on September 10, 2019.

Stephen Lam | Reuters

Apple shares fell 1% in premarket trading after the European Commission announced on Friday that the US tech giant had “abused its dominant position in the distribution of streaming music apps through its app store.” The European Commission, the EU’s executive branch, launched an antitrust investigation into the App Store last year after the music streaming platform Spotify complained about Apple’s licensing agreements in 2019. Apple was not immediately available to respond to CNBC’s request for comment.

4. Chevron profit decline; Exxon swings to profit

A sign stands outside a Chevron gas station on July 31, 2020 in Novato, California.

Justin Sullivan | Getty Images

Dow’s Chevron fell about 2.5% in the pre-market on Friday, shortly after the US oil major reported an adjusted earnings per share decline of over 30% to 90 cents in the first quarter. The decline was in line with estimates, but sales of $ 32.03 billion exceeded expectations. Chevron’s earnings declined due to lost production in winter storms, weaker margins, and the lack of assets and tax items that benefited last year’s profit.

A pigeon flies over an Exxon Mobil gas station in Gutenberg, New Jersey on October 25, 2018.

I have Betancur | Corbis News | Getty Images

Energy rival Exxon posted its first $ 2.7 billion profit in five quarters on Friday as higher oil and gas prices offset the cost of a February freeze. The adjusted earnings per share of 65 cents in the first quarter exceeded the estimates and the previous year’s period of 53 cents. Revenue of $ 59.15 billion also exceeded forecasts. The stocks in the pre-market were stable.

5. Disneyland reopens after unprecedented 13 months of closure

Visitors walk between plexiglass as they step on Touch of Disney at Disney California Adventure in Anaheim, California on Thursday, March 18, 2021.

MediaNews Group / Orange County Register | Getty Images

Disneyland, California, will reopen on Friday after an unprecedented 13-month closure. The hope of tourism officials is a sign of the state’s recovery from the pandemic. Currently, the park only allows in-state visitors who have limited capacity. Comcast’s own Universal Studios Hollywood reopened two weeks ago. In Florida, a state with fewer virus restrictions, Universal Orlando and Disney World reopened with limited capacity in June and July.

– Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. Reuters and The Associated Press contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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5 issues to know earlier than the inventory market opens Friday, April 23

5 things to know before the stock market opens Friday, April 23

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks expected to bounce back after Biden capital gains hit Wall Street

Trader on the New York Stock Exchange.

Source: NYSEa

2. Bitcoin and other cryptos are sinking, saving US $ 200 billion from the world market

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

Bitcoin and other cryptocurrencies plummeted Friday as concerns over Biden’s raising U.S. capital gains taxes on the rich sparked a sell-off. Bitcoin, which hit an all-time high of $ 65,000 on April 14, fell 6.5% to below $ 50,000. That’s a 23% drop in just over a week. The crypto market value, half of which is Bitcoin, fell $ 200 billion in one day. Bitcoin fell below $ 1 trillion when the global crypto universe slipped below $ 2 trillion, according to price tracking website CoinMarketCap.

3. Intel shares fall as sales, earnings slightly year over year

Pat Gelsinger, CEO of Intel, speaks in a photo taken as CEO of VMware on March 9, 2017 in Santa Monica, California.

Patrick T. Fallon | Bloomberg | Getty Images

Intel posted essentially flat first-quarter sales and a decline in earnings in its first earnings report late Thursday under new CEO Pat Gelsinger. Dow shares were down more than 2% in premarket trading, despite Intel’s earnings and sales per share beating estimates. Gelsinger, who took over the company in February, announced a plan earlier this month to invest $ 20 billion in new microchip manufacturing facilities. The Dow components American Express and Honeywell delivered quarterly results on Friday morning. Amex beat slightly in profit but missed out on sales. The shares fell nearly 4%. Honeywell hit on both, though its stock was also lower.

4. The CDC is considering two more cases while the advisory panel on the paused J&J vaccine meets

Johnson & Johnson’s Janssen COVID-19 vaccine will be stored in Chicago, Illinois for use with United Airlines employees at the United Clinic at O’Hare International Airport on March 9, 2021.

Scott Olson | Getty Images

The CDC Vaccination Advisory Board will meet on Friday to clarify whether to lift the hiatus on Johnson & Johnson’s one-shot Covid vaccine. In addition to six women who had rare but severe blood clotting problems after receiving the vaccine, the CDC is investigating two other possible cases: a deceased woman from Oregon and a hospitalized woman from Texas. Of the original six, one died and one became seriously ill. According to CDC data, over 8 million people in the US have received the J&J vaccine

5. SpaceX launches its third crew in less than a year and flies a reused rocket

A SpaceX Falcon 9 rocket carrying the astronauts from the Crew 2 mission will launch on April 23, 2021 at the Kennedy Space Center in Florida from Launch Complex 39A.

Gregg Newton | AFP | Getty Images

SpaceX launched four astronauts from NASA’s Kennedy Space Center in Florida on Friday morning using a recycled rocket and capsule. It is the third crewed flight in less than a year for Elon Musk’s privately owned space company. The astronauts from the US, Japan and France were scheduled to arrive at the International Space Station early Saturday after a 23-hour journey in the same capsule used by the SpaceX debut crew last May.

– Reuters and The Associated Press contributed to this story. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

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World News

Fauci Expects Choice on Utilizing Johnson & Johnson Vaccine Friday

Fauci Expects Decision on Using Johnson & Johnson Vaccine Friday

A decision to resume administration of Johnson & Johnson’s coronavirus vaccine should be made this Friday when a panel of experts advising the Centers for Disease Control and Prevention says Dr. Anthony S. Fauci, the country’s leading infectious disease expert, is to meet.

“I think we will make a decision by then,” said Dr. Fauci on Sunday on CNN’s State of the Union program.

“I don’t want to be one step ahead of the CDC, the FDA and the Advisory Committee,” he added, but said he expected experts to recommend “some kind of warning or restriction” on using the vaccine.

Federal health officials recommended suspending vaccine injections Tuesday while investigating whether this was related to a rare bleeding disorder. All 50 states except Washington, DC and Puerto Rico have stopped giving the vaccine.

The unusual disorder includes blood clots in the brain combined with low levels of platelets, blood cells that typically promote clotting. The combination, which can lead to coagulation and bleeding at the same time, was initially documented in six women between the ages of 18 and 48 who had received the vaccine one to three weeks earlier. One of the women died and another was hospitalized in critical condition.

This pattern has raised questions about whether vaccinations could be resumed in men or in the elderly. However, with women filling more healthcare positions for which vaccination has been prioritized, it is not clear how the problem could affect men as well. Two more cases of the coagulation disorder were identified on Wednesday, including one in a man who received the vaccine in a clinical trial.

Of the 129.5 million people in the United States who received at least one dose of a Covid-19 vaccine, more than seven million have received Johnson & Johnson’s. If there is a link between the vaccine and the coagulation disorder, the risk remains extremely low, according to experts.

“It is an extremely rare occurrence,” said Dr. Fauci on the ABC program “This Week”. The break should give experts time to gather more information and warn doctors about the clotting disorder so they can make more informed treatment decisions, said Dr. Fauci, who appeared on four television news programs on Sunday morning.

European regulators have investigated similar cases of the unusual coagulation disorder in people who received the AstraZeneca vaccine. Some European countries have now stopped giving this vaccine completely, while others have restricted its use in younger people.

Dr. Fauci also expressed frustration that “a worryingly large segment of Republicans” who have criticized many of the coronavirus restrictions have expressed reluctance to vaccinate. “It’s almost paradoxical,” he said. “On the one hand, they want to be released from the restrictions, on the other hand, they don’t want to be vaccinated. It just makes almost no sense. “

Dr. Fauci said he expects all students to be eligible for a vaccination before school starts in the fall, with younger children being eligible by Q1 2022 at the latest.

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Health

5 issues to know earlier than the inventory market opens Friday, April 16

5 things to know before the stock market opens Friday, April 16

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Dow will rise after closing above 34,000 for the first time

People walk past the New York Stock Exchange in New York City on April 15, 2021.

Spencer Platt | Getty Images

2. Housing construction in March is strong

Contractors install floor joists on the foundation of a home under construction in Lehi, Utah, December 16, 2020.

George Frey | Bloomberg | Getty Images

Thursday’s March retail sales helped raise stocks – and on Friday, investors took a look at the glowing housing market. The Commerce Department said housing starts rose 19.4% in March, beating estimates. Building permits rose 2.7% and fell short of expectations. Privately owned residential completions in March rose 16.6%. Builders have been ramping up construction lately, and new government covid incentives could fuel that trend.

3. The Chinese economy grew 18.3% in Covid in the first quarter

China reported gross domestic product slightly below expectations in the first quarter as industrial production disappointed but retail sales exceeded estimates. The GDP rose in the first three months of the year by 18.3% compared to the previous year, the Chinese statistical office announced on Friday. In the first quarter of last year, the economy contracted 6.8% – during the peak of the domestic Covid outbreak.

4. WHO chief: Covid case rate is approaching the highest level ever

A physical therapist fits an oxygen mask on a patient with coronavirus disease (COVID-19) in the intensive care unit of the Parelheiros Municipal Hospital in Sao Paulo, Brazil, on April 8, 2021.

Amanda Perobelli | Reuters

The head of the World Health Organization said on Friday that an alarming trend of rising Covid cases had caused infections around the world to reach their highest ever level. In the US, weekly cases are well below their all-time highs, but are in line with levels seen during the summer surge. Albert Bourla, CEO of Pfizer, said people will likely need a booster dose of a Covid vaccine within 12 months of being fully vaccinated. Bourla said it is possible that annual vaccinations against the coronavirus will also be necessary.

5. The death of a gunman shoots at least 8 people in the FedEx facility in Indianapolis and kills himself

At least eight people died after a gunman opened fire at a FedEx facility in Indianapolis late Thursday and then killed himself, city police said. FedEx said in a statement: “We are deeply shocked and saddened by the loss of our team members. … We are fully cooperating with law enforcement agencies.” Last week, President Joe Biden announced a series of executive measures aimed at tackling what he calls the national gun violence epidemic. In March alone, 18 people were killed in two mass shootings in the Atlanta and Boulder, Colorado area.

– NBC News 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.

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Health

5 issues to know earlier than the inventory market opens Friday, April 9

5 things to know before the stock market opens Wednesday, March 24

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks relatively flat after another S&P 500 record high

People are seen on Wall Street in front of the New York Stock Exchange (NYSE) in New York City on March 19, 2021.

Brendan McDermid | Reuters

US stock futures were mixed on Friday, the day after modest gains pushed the S&P 500 to another closing record and the Dow Jones Industrial Average within 24 points of Monday’s record close. The Nasdaq was the real winner on Thursday, posting gains of 1% in technical names. The Nasdaq was less than 2% from its record high in February. Federal Reserve Chairman Jerome Powell backed stocks Thursday, calling the US economy’s recovery from the Covid pandemic “uneven”. Temporarily higher prices would not lead to worrying inflation. These comments reassured investors that the highly accommodative monetary policy of the Covid era is not going to change anytime soon.

2. The yields on government bonds rise according to the data on producer prices

The 10-year government bond yield rose but stayed below 1.7%, hitting a 14-month high in March. The Labor Department reported Friday morning that producer prices rose 1% in March, with core inflation excluding food and energy rising 0.5%. Both were stronger than expected. A website outage at the Department of Labor delayed the normal 8:30 a.m.CET by about 25 minutes. The bond market has been at odds with the Fed this year as traders pushed yields higher, believing that stronger economic growth and inflation will force central bankers to hike short-term interest rates near zero and the massive ones Decrease asset purchases earlier than forecast.

3. Covid cases in the US are on the rise even as vaccinations go up

A member of the Maryland National Guard hands out post-it notes with numbers to people who arrive without an appointment at the mass coronavirus vaccination center at Hagerstown Premium Outlets on April 7, 2021 in Hagerstown, Maryland.

Chip Somodevilla | Getty Images

U.S. coronavirus cases are on the rise as infections skyrocket in many parts of the world. Even if the US vaccinates about 3 million people every day and nearly 20% of the American population is fully vaccinated, the average daily Covid cases and deaths averaged over 66,000 and nearly 1,000, respectively. In a rapidly deteriorating situation in Brazil, that country was only the third country after the US and Peru to report a 24-hour list of Covid deaths with more than 4,000 deaths. In the state of Rio de Janeiro, the emergency services have been the most strained since the beginning of the pandemic.

4. Florida is suing CDC for cruises to resume US crossings

Royal Caribbean’s Explorer of the Seas cruise ship docks in Miami, Florida, in Port Miami on March 2, 2021.

Joe Raedle | Getty Images

Florida Republican Governor Ron DeSantis announced Thursday that the state would file a lawsuit against the Centers for Disease Control and Prevention. He demanded that cruise ships be allowed to resume US voyages immediately. Richard Fain, CEO of Royal Caribbean, said he would like the cruise industry to be “treated very much like the airlines” that have been allowed to fly. However, Fain was optimistic about the possible resumption of U.S. crossings in the second half of this year, citing President Joe Biden’s goal for society to return to normal appearances by July 4th.

5. Amazon leadership expands in Alabama warehouse union vote

A RWDSU union representative holds a sign outside the Amazon fulfillment warehouse at the center of a union action on March 29, 2021 in Bessemer, Alabama.

Elijah Nouvelage | Getty Images

With roughly half the ballots counted, Amazon had a dominant lead in US workers’ historic union formation vote in one of the e-commerce giant’s warehouses in Alabama. The count continues on Friday. There were hundreds of contested ballots, most of which were challenged by Amazon. Approximately 55% of eligible workers in Amazon’s Bessemer warehouse voted. For many years, major unions have been quietly talking to Amazon workers about the organization. You faced major challenges in the United States, where none of the company’s warehouses are organized. Unions are widespread among Amazon employees in Europe.

– The Associated Press 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.

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Health

5 issues to know earlier than the inventory market opens Friday, March 26

5 things to know before the stock market opens Friday, March 26

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Dow to complement Thursday’s late session comeback

Traders work on the trading floor of the New York Stock Exchange.

NYSE

Pedestrians wearing protective masks carry shopping bags in San Francisco, California on Wednesday, February 17, 2021.

David Paul Morris | Bloomberg | Getty Images

The trading department reported Friday morning that personal income fell 7.1% in February, which was roughly in line with expectations. Personal savings fell 1% last month, which is also broadly in line with estimates. Both income and savings numbers were strong in January as Americans received approved Covid stimulus checks in December. Another round of direct payments to many Americans approved in March could appear in the data in the coming months.

2. The office sharing company WeWork signs a new deal to go public

A guest attends the opening ceremony of WeWork Hong Kong’s flagship facility in Hong Kong, China, on Feb.23, 2017.

Bobby Yip | Reuters

WeWork, which went public in 2019 after a dwindling valuation and the resignation of co-founder Adam Neumann, has hit a new deal to go public. The office sharing company agreed on Friday to partner with acquisition company BowX Acquisition Corp. to merge. The transaction values ​​WeWork at $ 9 billion, a fraction of its one-time valuation of approximately $ 47 billion. According to the announcement, BowX’s shares rose 2.5% on the Friday before going public.

3. GameStop stocks open higher after rising above 50%

A man is on the phone in front of GameStop on 6th Avenue in New York on February 25, 2021.

John Smith | Corbis News | Getty Images

GameStop shares rose roughly 10% on the Friday before entering the market, the morning after a five-time losing streak and up 52%. There was no obvious news on Thursday. GameStop was the most famous “meme stock” that was popular with retailers on Reddit and other social media platforms. The stock lost about a third of its value on Wednesday after the video game retailer delivered disappointing fourth quarter results, failed to detail its digital turnaround plans and confirmed it was considering selling more shares.

4. Tesla ordered Elon Musk to delete anti-union tweet

Elon Musk, founder of SpaceX and chief executive officer of Tesla, waves as he arrives for a discussion at the Satellite 2020 conference in Washington, DC on Monday, March 9, 2020.

Andrew Harrer | Bloomberg | Getty Images

The National Labor Relations Board urged Tesla to get Elon Musk to delete a tweet that was viewed as a threat to work organizers at the company. The independent federal agency also ordered Tesla to reinstate a laid-off employee, Richard Ortiz, a union attorney. Tesla must also compensate Ortiz for lost earnings, benefits, and adverse tax consequences resulting from his termination. The NLRB’s decision largely corresponded to the decision of an administrative judge in 2019, which Tesla had appealed to the full board.

5. Delays in blocking the Suez Canal estimated at $ 400 million an hour in goods

The stranded container ship Ever Given, one of the largest container ships in the world, ran aground in the Suez Canal in Egypt on March 25, 2021.

Suez Canal Authority | Reuters

The Ever Given, a stranded mega-container ship in the Suez Canal, trades an estimated $ 400 million an hour based on the approximate value of goods transported daily through the key waterway. That’s according to shipping data and news company Lloyd’s List. Lloyd’s estimates traffic to the west of the Canal at around $ 5.1 billion per day and traffic to the east at around $ 4.5 billion per day. The Suez Canal, which separates Africa from Asia, is one of the busiest trade routes in the world.

– Get the latest on the pandemic using CNBC’s coronavirus blog.

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5 issues to know earlier than the inventory market opens Friday, March 19

5 things to know before the stock market opens Friday, March 19

Here are the top news, trends, and analysis investors need to get their trading day started:

1. Single stock futures reduced profits after Thursday’s sale

Traders work on the trading floor of the New York Stock Exchange.

NYSE

US stock futures cut profits after the Federal Reserve refused on Friday to extend a pandemic rule that eased the amount of capital banks had to hold against treasuries and other holdings. The move could boost bond yields further. Rising government bond yields weighed on technology stocks again on Thursday, causing the Nasdaq to fall 3%. The S&P 500, which also has a high tech weighting, fell almost 1.5% from its previous record close. Both stock benchmarks had their worst days in nearly a month. The Dow Jones Industrial Average fared much better, but was still down nearly 0.5% from its previous record close. The Nasdaq and S&P 500 were lower for the week at Thursday’s close, while the Dow was higher for the week.

2. The bond market rebels when it adjusts to the Fed’s inflation policy

Federal Reserve Chairman Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill, Washington, the United States, on Dec. 1, 2020.

Al Drago | Reuters

The 10-year government bond yield pulled back slightly on Friday, a day after hitting a 14-month high of 1.754%. Traders were outraged by the Federal Reserve’s willingness to let the economy and inflation heat up when the job market rebounds. Yields barely moved on Wednesday afternoon after the Fed’s meeting ended, initially responding to the forecast that there should be no rate hikes until 2023. The rapid rise in yields is due to fears that further Covid stimuli, on top of an already recovering economy, could trigger worrying inflation. The 10 year return started the year at less than 1%.

3. Nike Sales Miss Estimates; Beat FedEx Revenue

The Nike logo can be seen in the Nike Store in New York City on February 22, 2021.

John Smith | Corbis News | Getty Images

Dow stock Nike fell 2.5% in the pre-market on Friday the morning after the athletic footwear and apparel maker reported third-quarter sales that missed estimates. Sales growth of 2.5% to $ 10.36 billion was negatively impacted by widespread congestion in US ports and ongoing store closures in Europe. Nike also provided a sub-consensus forecast. However, the company beat estimates by 14 cents on earnings of 90 cents per share for the third quarter.

Boxes containing the Moderna COVID-19 vaccine are being prepared for shipment at the McKesson distribution center in Olive Branch, Mississippi, United States, on December 20, 2020.

Paul Sancya | Reuters

FedEx, a component of the Dow Jones Transportation Average, rose 5% on the Friday ahead of the market. The delivery giant after the bell on Thursday reported earnings of $ 3.47 per share for the third quarter, 24 cents better than expected. Revenue rose 23% to $ 21.51 billion, also significantly beating estimates. Large Christmas sales made up for storms in February that affected operations at several of Fedex’s largest hubs.

4. The US has administered over 100 million Covid shots, according to the CDC

United States President Joe Biden speaks on vaccination status during a coronavirus disease (COVID-19) response in the East Room of the White House in Washington on March 18, 2021.

Carlos Barria | Reuters

The CDC’s nightly updated vaccine tracker showed Friday morning that 115.7 million Covid vaccine doses had been administered in the U.S. and hit President Joe Biden’s first 100 million shots in his first 100 days in office well ahead of schedule. Last week, Biden said he expected to hit the goal on day 60. It happened on Day 57. As vaccinations progressed in the US, the Biden government on Thursday revealed the outline of a plan to distribute limited doses of vaccine to Canada and Mexico.

5. The first US-China meeting under Biden got off to a rocky start

US Secretary of State Antony Blinken speaks to Yang Jiechi, Director of the Central Commission’s Office for Foreign Affairs and Wang Yi, China’s Foreign Secretary 2021, at the opening session of the US-China Talks on March 18 at the Captain Cook Hotel in Anchorage, Alaska .

Frederic J. Brown | AFP | Getty Images

The first high-level meeting of U.S. and Chinese officials under the Biden administration began with a series of insults at a press briefing ahead of the meeting in Alaska on Thursday. The planned four-minute photo session for officers to address reporters lasted an hour and 15 minutes, according to NBC News due to the foamy exchange. The expectations for the two-day talks, which should be concluded on Friday, were already low.

– The Associated Press contributed to this report. Get the latest information on the pandemic on CNBC’s coronavirus blog.