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5 issues to know earlier than the inventory market opens Thursday, April 15

5 things to know before the stock market opens Thursday, April 15

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

1. Stocks are likely to burst on strong earnings reports

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. Covid Stimulus Checks Could Really Boost Retail Sales

People shop on 5th Avenue in New York during the coronavirus disease (COVID-19) pandemic on February 17, 2021.

Brendan McDermid | Reuters

The trading department reported Thursday that retail sales rose 9.8% in March, well above estimates for a 6.1% increase. A new series of Covid Stimulus Checks boosted consumer purchases last month as the U.S. economy continued to receive support from aggressive Congressional spending. Retail sales in February were revised up slightly, falling 2.7%.

The Department of Labor reported 576,000 initial jobless claims Thursday last week, well below expectations for 710,000 new registrations. This was certainly the lowest level since the pandemic began and was a sharp drop from the previous week’s revised upward of 769,000.

3. The BofA exceeds estimates for strong investment banking

Signage outside a Bank of America branch in San Francisco, California, the United States, on Thursday, Jan. 14, 2021.

David Paul Morris | Bloomberg | Getty Images

Bank of America’s profits exceeded estimates on strong investment banking and trading results and risk release releases as fewer consumers faced loan defaults. Like other banking competitors, BofA has benefited greatly from the improving US economic outlook in recent months.

Citigroup’s results exceeded analysts’ estimates for first quarter earnings with strong investment banking revenues and an above-expected loan loss provision release. The company also said it is closing retail banking operations in 13 countries in Asia and parts of Europe to focus more on wealth management outside of the US

4. Coinbase is set to jump after a strong but volatile debut

Monitors display Coinbase signage during the company’s IPO on April 14, 2021 on the Nasdaq marketplace in New York City.

Robert Nickelsberg | Getty Images

Coinbase Global shares rose another 8% on the Thursday before going public, a day after the cryptocurrency exchange debuted with a market value of nearly $ 86 billion. Nasdaq announced a reference price of $ 250 per share for Coinbase’s direct listing late Tuesday. In one volatile session, the stock opened at $ 381 and quickly rose to $ 429, for a market cap of $ 100 billion. It fell back below its debut price at one point, hitting a low of around $ 310. It closed at $ 328. Coinbase hit the public market when a record amount of cash was flowing into bitcoin and cryptocurrencies.

5. The CDC Panel is delaying the decision on J&J Covid’s vaccination break

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 Advisory Committee on Immunization Practices has decided to postpone a decision on Johnson & Johnson’s Covid-19 vaccine while investigating cases of six women developing a rare but serious bleeding disorder, one person dead and one other is in critical condition. The panel met Wednesday, the day after the FDA called on states to temporarily stop using J & J’s vaccine “out of caution”. Moving the panel means the pause for J & J’s vaccine will continue to apply. The CDC committee unanimously voted for a reunion in a week.

– 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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5 issues to know earlier than the inventory market opens Monday, April 12

5 things to know before the stock market opens Monday, April 12

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

1. Stocks will fall after record deals for the Dow and S&P 500

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dara Khosrowshahi, CEO of Uber, speaks at a product launch event in San Francisco, California on September 26, 2019.

Philip Pacheco | AFP via Getty Images

Uber posted record gross bookings for March on Monday, suggesting a pickup in demand for hail drives. The tech giant’s amusement ride was hit hard by pandemic lockdowns last year. However, Uber benefited from a boom in food delivery that helped contain losses in 2020. Uber’s shares rose 2% on the Monday ahead of the market.

2. Powell says it is “highly unlikely” that the Fed will raise rates this year

Federal Reserve Chairman Jerome Powell speaks at a virtual press conference in Tiskilwa, Illinois on December 16, 2020.

Daniel Acker | Bloomberg | Getty Images

Federal Reserve chairman Jerome Powell reiterated the central bank’s commitment to maintaining loose monetary policy despite seeing a rapidly recovering economy from the depths of the pandemic. “I think it is highly unlikely that we will raise interest rates this year,” Powell said in an interview that aired on Sunday on “60 minutes”. “I am able to guarantee that the Fed will do whatever it takes to support the economy for as long as it takes to complete the recovery,” he added. This support includes near-zero short-term lending rates and $ 120 billion monthly bond purchases.

3. The Covid variant evades a certain vaccination protection

A health worker delivers a dose of the Pfizer-BioNtech COVID-19 coronavirus vaccine at a mobile clinic near Moshav Dalton, northern Israel, on February 22, 2021.

Jalaa Marey | AFP | Getty Images

According to a new Israeli study, the coronavirus variant discovered in South Africa may evade some of the protection provided by the two-shot vaccine manufactured by Pfizer-BioNTech. The researchers found that the prevalence of the strain in patients who received both doses of the vaccine was about eight times higher than in patients who were not vaccinated.

View of Regeneron Pharmaceuticals corporate, research and development headquarters on Old Saw Mill River Road in Tarrytown, New York.

Lev Radin | LightRocket | Getty Images

Regeneron plans to ask the FDA to approve the use of Covid antibody therapy as a preventive treatment. In a Phase 3 clinical trial, the company announced that the drug cocktail reduced the risk of symptomatic infections in individuals by 81%. The therapy was given to then-President Donald Trump shortly after he was diagnosed with coronavirus last year.

4. CEOs Meet for White House Chip Summit; Biden meets legislators on infrastructure

President Joe Biden speaks as he announces gun violence prevention measures in the Rose Garden of the White House in Washington on April 8, 2021.

Kevin Lamarque | Reuters

5. Microsoft in advanced talks to buy Nuance for approximately $ 16 billion

Satya Nadella, CEO of Microsoft, speaks during the Future Decoded Tech Summit on February 25, 2020 in Bengaluru, India.

Samyukta Lakshmi | Bloomberg | Getty Images

Microsoft is in advanced talks to buy voice recognition company Nuance Communications, a person familiar with the discussions told CNBC. A transaction could be announced as early as Monday, the person said, adding that Microsoft is ready to pay about $ 56 per share. Nuance’s shares rose nearly 24% to over $ 56 on the Monday leading up to its IPO. By purchasing Nuance, Microsoft’s speech software capabilities can be expanded. After purchasing LinkedIn for $ 27 billion in 2016, Nuance would be Microsoft’s second-largest acquisition at $ 16 billion. Microsoft’s stocks haven’t changed much.

– 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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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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Business

5 issues to know earlier than the inventory market opens Thursday, April 8

5 things to know before the stock market opens Feb 17, 2021

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.

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Business

5 issues to know earlier than the inventory market opens Wednesday, April 7

5 things to know before the stock market opens Wednesday, April 7

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

1. Dow set to steady open after falling from previous record

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. Jamie Dimon’s Annual Letter offers an upbeat look at markets and the economy

Jamie Dimon, CEO of JP Morgan Chase, will appear on CNBC’s Squawk Box on January 22nd, 2020 at the 2020 World Economic Forum in Davos, Switzerland.

Adam Galica | CNBC

Jamie Dimon, CEO of JPMorgan Chase, sees strong growth in the US economy in the near future, thanks to the government’s response to the coronavirus pandemic that has left many consumers with savings. This emerges from his annual letter to shareholders published on Wednesday. While labeling stock market valuations “pretty high,” he said a multi-year boom could justify current levels as markets price in economic growth and excessive savings that find their way into stocks. While optimistic about the immediate future of the economy, Dimon said the US is facing major challenges due to political and societal dysfunction.

3. Morgan Stanley sold $ 5 billion in Archegos stock before the massive fire sale

The signage is displayed outside the Morgan Stanley & Co. headquarters in Times Square, New York.

Michael Nagle | Bloomberg | Getty Images

The night before Archegos Capital’s story became public late last month, the fund’s largest prime broker silently discharged some of its risky positions, CNBC aficionados told CNBC. Morgan Stanley sold approximately $ 5 billion worth of shares in Archegos’ doomed bets on US media and Chinese tech names to a small group of hedge funds who had asked for anonymity to openly ended March 25th talk about the transaction. Some of the clients felt betrayed by Morgan Stanley for not receiving this crucial context, according to one of the people familiar with the craft.

4. Jeff Bezos supports corporate tax increases to finance infrastructure

Jeff Bezos, CEO of Amazon

Alex Wong | Getty Images

Jeff Bezos advocated raising the US corporate tax rate to help finance infrastructure spending. But Amazon’s founder stopped saying he supported President Joe Biden’s plan for the increase on Tuesday. Bezos’ support for a corporate tax hike is noteworthy given that Amazon has undergone a review of its own tax records, including by Biden. Last May, when Biden was still a Democratic presidential candidate, he told CNBC that Amazon “should start paying their taxes”.

5. Biden Postpones Deadline For States To Open Covid Admission To All Adults In The United States

United States President Joe Biden speaks about the state of vaccinations against coronavirus disease (COVID-19) in the State Dining Room of the White House in Washington, DC on April 6, 2021.

Kevin Lamarque | Reuters

Biden urges states to allow Covid vaccine appointments to all adults in the United States by April 19, extending his original deadline by nearly two weeks. Biden urged Americans to continue to practice pandemic security measures, saying the US was not “there” yet. The president also said the US had taken 150 million shots in his first 75 days in office. He is pushing to have 200 million weapons within his first 100 days in office.

– 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 Monday, April 5

5 things to know before the stock market opens Monday, April 5

Trader on the New York Stock Exchange.

Source: NYSE

1. Dow futures rose more than 200 points on Monday following Friday’s blowout job report. While the US stock market was closed on Good Friday, the government continued to release its monthly employment data. The number of non-farm workers rose 916,000 last month, a much stronger number than expected and the highest number since the 1.58 million added in August 2020, as states expanded their economies a year after the pandemic and Covid vaccinations began further opened. The 10-year government bond yield rose higher on Monday but stayed below its recent 14-month high. On Thursday, the S&P 500 rose 1.2% to close above 4,000 for the first time. The Dow Jones Industrial Average rose 0.5% but did not hit the record high. The tech-heavy Nasdaq rose 1.8% and was within 4.6% of its record high in February.

2. Treasury Secretary Janet Yellen on Monday will call for a minimum tax for businesses around the world to keep businesses from moving to find lower tax rates. “We are working with the G20 countries to agree on a global minimum tax rate for companies that can stop the race to the bottom,” Yellen will report on Monday morning at a conference of the Chicago Council on Global Affairs. This comes from a confirmed report by Axios from CNBC. The remarks come as President Joe Biden tries to raise the corporate tax rate to fund a $ 2 trillion infrastructure improvement plan.

3. Missouri Republican Senator Roy Blunt on Sunday called on the president to cut his infrastructure plan to around $ 615 billion and focus on rebuilding physical infrastructure such as roads and bridges. The fourth-placed GOP Senator argued on Fox News Sunday that only 30% of Biden’s proposal focused on traditional infrastructure. Blunt said a price cut would allow the White House to run the bill through both houses of Congress. Senate Minority Chairman Mitch McConnell, R-Ky., Said last week the $ 2 trillion package will not receive Republican support.

4. GameStop fell 14% on the Monday leading up to its IPO after it announced it would sell up to 3.5 million shares as the video game retailer plans to capitalize on its share surge after a trading frenzy sparked by Reddit earlier this year. GameStop announced that it would use the proceeds from the share offering to accelerate the transition of its business model to e-commerce. This plan is led by a top shareholder and board member, Ryan Cohen, co-founder of online pet dealer Chewy. GameStop closed at $ 191 per share on Thursday. It traded up to $ 483 in late January. Before Reddit trading hit, the stock started the year under $ 20.

Tesla shares rose more than 7% in the pre-market after the electric automaker announced on Friday that it had shipped nearly 185,000 vehicles in the first quarter. This is a record for the Elon Musk-run company and above estimates for 168,000 deliveries. All vehicles produced in the quarter were Model 3 sedans and Model Y crossover SUVs. Tesla did not produce any of its more expensive Model S sedans and Model X SUVs. However, 2,020 Model S and X vehicles were delivered from inventory. Tesla’s most recent shipments were up more than 100% over the same period last year.

5. The US hired Johnson & Johnson to build the Emergent BioSolutions facility, which ruined 15 million doses of the drug maker’s unique Covid vaccine, a senior health official said Saturday. The government also banned AstraZeneca from using the facility. According to the New York Times, Emergent BioSolutions employees at the facility in question mixed mixed ingredients for the J&J and AstraZeneca vaccines. AstraZeneca, whose vaccine has not been approved in the US, said it will work with the Biden administration to find an alternative manufacturing location.

– Associated Press and Reuters contributed to this report. 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 Thursday, April 1

5 things to know before the stock market opens Thursday, April 1

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

1. Stocks rise after Dow, S&P 500 had its best month since November

Traders on the floor of the New York Stock Exchange.

Source: CNBC

US stock futures started higher in April after the S&P 500 closed its best month since November, up 4.2%. The index hit an all-time high during the day on Wednesday, but failed to close at a record high.

The Dow, which closed at record levels on Monday, posted its second modest decline in a row on Wednesday. But the 30-stock average, like the S&P 500, had its best month since November, gaining 6.6% in March. In the first quarter, the blue-chip Dow and S&P 500 rose 7.8% and 5.8%, respectively, for the fourth consecutive year.

The Nasdaq broke a two-session loss on Wednesday, up 1.5%. Tech-intensive Nasdaq has underperformed recently as technology stocks are particularly sensitive to rising market rates as they depend on cheap borrowing to invest in future growth. In March the index gained only 0.4%. For the quarter it was up 2.8%.

2. The yield on 10-year government bonds falls below 1.7% according to information on unemployment claims

A woman walks into a store in New York City on February 22, 2021.

John Smith | Corbis News | Getty Images

The previous week was cut to 658,000 initial jobless claims, the lowest level in over a year. The Ministry of Labor will publish its monthly employment report on Friday despite the stock exchange closing on Good Friday.

3. Pfizer Covid Vaccine 91% Effective in Updated Study Data

A person walks past the Pfizer building in New York City on March 2, 2021.

Carlo Allegri | Reuters

Pfizer and BioNTech announced Thursday that their two-shot Covid vaccine is 91% effective. They cited updated study data, which included people who were vaccinated for up to six months. The vaccine was also 100% effective among study participants in South Africa, where a new variant dominates. However, the number of these South African participants was relatively small at 800.

While the new overall effectiveness rate is lower than the 95% originally reported in November, a number of variants have since spread around the world. Pfizer and BioNTech shares rose in the pre-market.

4th AP: Company at the center of J & J’s Covid vaccination problems has a number of quotes

Johnson & Johnson Covid-19 vaccine at a vaccination center set up at the Hilton Chicago O’Hare Airport hotel in Chicago, Illinois on March 5, 2021.

Kamil Krzaczynski | AFP | Getty Images

Shares in Emergent BioSolutions, the company at the center of the troubles that caused Johnson & Johnson to ditch an unknown amount of its Covid vaccine, fell 7% in the pre-market on Thursday. According to records obtained by The Associated Press under the Freedom of Information Act, Emergent has received a number of citations from U.S. health officials about quality control issues. The records include inspections at emergent facilities since 2017.

Although it is unclear how many doses were ruined, J&J plans on Wednesday to dispense 100 million doses of its one-shot vaccine by the end of June. J & J’s shares fell in premarket trading.

5. After announcing the infrastructure, Biden holds the first cabinet meeting

President Joe Biden is expected to hold his first cabinet meeting on Thursday. The time comes a week after Biden’s full cabinet was confirmed and a day after the president released his long-awaited infrastructure package that would spend approximately $ 2 trillion over eight years. A rise in the tax rate for US corporations to 28% would fund the sweeping plan.

Biden said he would reveal the second part of his recovery package “in a couple of weeks”. Wednesday’s announcements kicked off Biden’s second major initiative following the adoption and signing of a $ 1.9 trillion coronavirus relief plan earlier this month.

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

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Business

5 issues to know earlier than the inventory market opens Wednesday, March 31

5 things to know before the stock market opens Wednesday, March 31

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

1. Shares open mixed after Dow fell from record high

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

NYSE

US stock futures were mixed on Wednesday, the day after the Dow Jones Industrial Average fell 0.3%. The S&P 500 and Nasdaq also fell slightly as technology stocks came under pressure after 10-year government bond yields hit a fresh 14-month high of 1.776% on Tuesday.

On the way to the last day of March, the Dow and S&P 500 saw solid gains over the month and throughout the first quarter. The Nasdaq tracked a loss in March but a modest quarterly gain. The 10-year government bond yield rose 18% in March and 88% in the quarter.

2. 10-year yield on government bonds according to report on private ADP jobs

ADP LLC signage appears when job seekers stand in line during TechFair LA job fair in Los Angeles, California.

Patrick T. Fallon | Bloomberg | Getty Images

The 10-year Treasury yield fell but was around 1.72% on Wednesday morning after the ADP’s monthly look at US corporate employment trends showed that 517,000 jobs were added in March. While slightly below estimates, it was the fastest pace since September and well above the disappointing 176,000 in February.

So far, the ADP report has not been a good indicator of what the government’s monthly employment data might be showing. The job report for March is to be published on Friday despite the closing of the stock exchange on Good Friday.

3. Pfizer says the Covid vaccine is 100% effective in children ages 12-15

People walk in front of the Pfizer sign at Pfizer headquarters on March 23, 2021 in New York. The Food and Drug Administration (FDA) says Pfizer’s coronavirus vaccine can be stored in regular freezers for two weeks rather than in ultra-cold temperatures.

VIEW press | Corbis News | Getty Images

Pfizer said Wednesday a new study shows its coronavirus vaccine was 100% effective in teenagers ages 12-15. The US drug giant, which developed the two-shot regime in collaboration with German BioNTech, plans to submit the new data to the FDA “as” as soon as possible, “said CEO Albert Bourla in a statement. Children in this Age group could be eligible for the vaccine before the new school year in the fall.

Pfizer’s vaccine has already been approved for use in the United States for use in people aged 16 and over. The other two Covid vaccines approved in the US, Moderna’s two-shot vaccine and Johnson & Johnson’s one-shot vaccine, have been approved for ages 18 and over.

4. Biden will unveil its $ 2 trillion infrastructure plan

United States President Joe Biden and Vice President Kamala Harris comment on the coronavirus disease (COVID-19) pandemic and vaccination status on the White House campus in Washington on March 29, 2021 after meeting with his COVID-19 response team .

Jonathan Ernst | Reuters

President Joe Biden will unveil an infrastructure and economic recovery package worth more than $ 2 trillion on Wednesday. The plan aims to revitalize US transportation infrastructure, water systems, broadband networks and manufacturing, among other things. A rise in the corporate tax rate to 28% and measures to prevent profits from being offshored will fund the spending, according to the White House. Biden hopes the package will create manufacturing jobs and save the flawed American infrastructure as the country tries to get out of the shadow of Covid.

5. The case of compensation for university athletes will be heard by the Supreme Court

A general view of the March Madness logo before the game between Syracuse Orange and Houston Cougars in the Sweet Sixteen of the 2021 NCAA tournament at Hinkle Fieldhouse.

Aaron Doster | USA TODAY Sports | Reuters

The Supreme Court will hear arguments from the National Collegiate Athletic Association on Wednesday to determine whether the organization can limit educational benefits for college athletes. With the NCAA men’s and women’s basketball tournaments in mind, there is a wider debate about athlete compensation. Some March Madness games players have attempted to pressurize the NCAA using the hashtag #NotNCAAProperty.

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

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Business

5 issues to know earlier than the inventory market opens Tuesday, March 30, 2021

5 things to know before the stock market opens Monday, March 29

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

1. Stock futures fall after the Dow record when yields rise

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. The yield on 10-year government bonds hits the 14-month high

The yield on 10-year government bonds stood at 1.77% early Tuesday, hitting another high from January 2020 as the introduction of Covid vaccines and planned infrastructure spending raised hopes for a broad recovery in the US economy. However, the move also fueled inflation fears and put pressure on growth stocks, including many tech names, as higher interest rates undermine the value of future earnings and depress market valuations.

3. How Goldman and Morgan Stanley Avoided Archegos Loss

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

In the Archegos meltdown sparked by the decline in ViacomCBS and other stocks last week, Goldman Sachs avoided losses as a result, CNBC’s Hugh Son reported. When Swiss Credit Suisse and Japanese Nomura said early Monday that they had discharged positions on behalf of Archegos, Goldman and Wall Street rival Morgan Stanley had already discharged their positions, according to knowledgeable people. Archegos is a family office founded by Bill Hwang, a former equity analyst at Julian Robertsons Tiger Management.

4. CDC chief warns that the US is heading towards fate in the fight against Covid

Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention.

Chip Somodevilla | Getty Images

The US is facing “impending doom” as daily Covid cases increase again, warned CDC Director Dr. Rochelle Walensky. “We can look forward to so much, so much promise and potential where we are, and so much reason to hope, but right now I’m scared,” she said in an emotional, sincere moment during the press conference on Monday morning. Even if vaccinations accelerate across the country, coronavirus hospital admissions will also rise and the death toll will begin to rise. Walensky urged the Americans to “hold out just a little longer”.

5. Biden instructs states to reintroduce coronavirus mask mandates

President Joe Biden speaks about the coronavirus disease (COVID-19) pandemic and vaccination status on the White House campus in Washington, United States, March 29, 2021 after meeting his COVID-19 response team.

Jonathan Ernst | Reuters

President Joe Biden followed his CDC director’s comments by calling on governors and local leaders to drop full mask mandates in order to reinstate orders. While pointing out that some states should wait to reopen their economies, he also condemned “reckless behavior” that is likely to cause more infections.

“We’re giving up hard-fought, hard-won profits,” said Biden in the press conference on Monday afternoon. “As much as we do in America, it’s time to do more.” He said failure to take the virus seriously “is exactly what got us into this mess in the first place” and could lead to more infections and deaths.

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

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Business

5 issues to know earlier than the inventory market opens Monday, March 29

5 things to know before the stock market opens Monday, March 29

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

1. US futures tumble after Friday’s records for the Dow, S & P 500

Traders on the floor of the New York Stock Exchange.

Source: NYSE

US stock futures fell Monday after a late Friday rally the Dow Jones Industrial Average and S&P 500 rose over 1.4% and nearly 1.7%, respectively, as stocks reopened from a successful reopening benefited from Covid, achieved an outperformance. The Dow and S&P 500, both closing at record highs, posted weekly gains roughly in line with Friday’s progress. Dow’s Boeing stock rose 3% in the pre-market on Monday after Southwest Airlines placed a huge aircraft order. Southwest’s shares rose slightly.

The Nasdaq offset a loss of nearly 1% on Friday and closed 1.2%. However, the tech-heavy index still fell 0.6% over the course of the week. With just three days left in March, the Nasdaq posted a slight monthly loss while the Dow and S&P 500 stood ready to post solid gains for the month.

The 10-year government bond yield remained stable on Monday, trading below its most recent 14-month high. The rapid surge in yields this year has been problematic for growth stocks, including many technical names, as higher interest rates undermine the value of future earnings and depress market valuations.

2. Credit Suisse and Nomura are affected by the fallout from the US hedge fund

Credit Suisse Bank.

NurPhoto | NurPhoto | Getty Images

Credit Suisse warned Monday of a “highly significant” slump in its first quarter results after the Swiss-based bank began exiting positions in a large US hedge fund that collapsed on margin calls last week. Japanese company Nomura is currently evaluating a potential loss of an estimated $ 2 billion. The shares of Nomura and Credit Suisse were added on the Monday before the IPO.

The hedge fund at the center of the fallout is Archegos Capital Management, which was forced to liquidate positions late last week. The moves of the multi-billion dollar US family office founded by former Tiger stock analyst Bill Hwang sparked a wave of selling pressure on US media stocks and Chinese Internet ADRs on Friday.

3. The cargo ship ever to block the Suez Canal is partially floating

A view shows the Ever Given container ship in the Suez Canal in this satellite image from Maxar Technologies captured on March 28, 2021.

Maxar Technologies | Reuters

The giant container ship Ever Given, which blocked the Suez Canal, was partially floated again early Monday, days after the ship got stuck and halted a major global trade route. The Suez Canal Authority said the ship’s course has been corrected by 80% and further maneuvers will continue if the water level rises later in the day. It remains unclear when the waterway will be opened to traffic again as hundreds of ships waited to enter the Suez. Maritime data showed that at least 10 tankers and container ships changed course to avoid the congestion, including U.S. ships carrying natural gas for Cheniere and Shell / BG Group.

4. Biden to advance infrastructure before health and family care

President Joe Biden will hold his first formal press conference in the East Room of the White House in Washington, USA on March 25, 2021.

Leah Millis | Reuters

President Joe Biden will split his sweeping plan to improve the nation’s infrastructure into two parts. Biden will unveil the first part of his plan on Wednesday, which will focus on issues such as rebuilding roads and railways. The second part – including childcare and health care reforms, aspects of infrastructure sometimes referred to as social infrastructure – will be released “in just a few weeks,” White House press secretary Jen Psaki said Sunday. Overall, the legislation is expected to cost more than $ 3 trillion.

5. Fauci only warns the USA “on the corner” of the Covid pandemic

Anthony Fauci, director of the National Institute for Allergies and Infectious Diseases at the NIH, speaks about the daily press conference at the White House in Washington on January 21, 2021.

Jonathan Ernst | Reuters

With the possibility of safe summer barbecues in just a few months and the promise of widespread supplies of Covid vaccines in the US by the end of May, many Americans may feel that the nation has finally taken action against the pandemic. The Chief Medical Officer of the White House, Dr. Anthony Fauci, however, warned that America was really only “on the corner”.

According to a CNBC analysis of the Johns Hopkins University data, daily daily US cases rose 12% in the past seven days, despite being well below their January high. Almost half of people aged 65 and over have taken all the necessary recordings, according to CDC data. However, only 20% of the adult population are considered fully vaccinated.

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