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5 issues to know earlier than the inventory market opens March 8, 2021

5 things to know before the stock market opens March 8, 2021

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

1. Nasdaq fell sharply after Friday’s comeback

Scaffolding across from the New York Stock Exchange (NYSE) in the financial district of New York on Friday, March 5, 2021.

Michael Nagle | Bloomberg | Getty Images

US stock futures were mostly lower on Monday, with a sharp drop in Nasdaq and tech names indicating that the new week should begin on Friday after the major turnaround. Tesla lost another 2% in the pre-market after closing below $ 600 per share for the first time since early December on Friday. The stock has lost a third of its value since its all-time high in late January.

The Dow Jones Industrial Average, S&P 500 and Nasdaq lost all three sessions on Friday with strong advances. During the week the Dow and S&P 500 rose 1.8% and 0.8%, respectively. However, the Nasdaq fell 2% last week. The Dow and S&P 500 are up nearly 3% and 2.3%, respectively, since the start of the year. The Nasdaq was just above breakeven before opening on Monday.

2. Government bond yields rise after Senate Covid bill is passed

U.S. Senate Majority Leader Senator Chuck Schumer (D-NY) speaks during a weekly press conference at the U.S. Capitol on March 2, 2021 in Washington, DC.

Alex Wong | Getty Images News | Getty Images

The Senate’s passage of the $ 1.9 trillion Covid Relief Act on Saturday was insufficient to move stocks into Green Monday as further economic stimulus in addition to an already recovering economy fueled inflation concerns . This translates into higher bond yields on Monday. The 10-year yield on government bonds is 1.6%, below Friday’s one-year high. The 10-year yield has risen rapidly since late January, gaining more than 0.5% in just over a month.

3. Biden Says Direct Payments will soon reach $ 1,400

United States President Joe Biden speaks during a roundtable meeting with Americans who will benefit from COVID-19 pandemic relief efforts, which are part of the U.S. rescue plan on March 5, 2021 in Washington, DC.

Samuel Corum | Getty Images

The Democratic House intends to pass the Senate-approved Covid stimulus package on Tuesday and then send it to President Joe Biden for signature. The bill passed in the Senate on Saturday provides for a lower compromise for federal unemployment benefits and without an increase in the federal minimum wage. Legislation provides for direct payments of up to $ 1,400 to most Americans, which Biden says could go out within two weeks on Saturday.

4. Stocks to watch: Disney, Comcast, GameStop, GE

An entrance area to Disneyland is empty on September 30, 2020 in Anaheim, California.

Mario Tama | Getty Images

Disney shares rose more than 1% on the Monday leading up to trading after California officials released theme parks on Friday to open with reduced capacity on April 1. They closed almost a year ago due to the pandemic. The contract includes Disneyland in the southern part of the state, Comcast’s Universal Studios Hollywood, and others. Disney World in Florida and Universal Studios Orlando opened with capacity restrictions in the summer. Comcast, the parent company of NBCUniversal and CNBC, fell ahead of the market.

A man watches GameStop on 6th Avenue in New York on February 25, 2021.

John Smith | Corbis News | Getty Images

GameStop’s shares rose about 12% on the Monday before entering the market after Bloomberg reported the company tapped board member Ryan Cohen to steer the video game retailer’s transition to an e-commerce business. Cohen, a major GameStop investor and founder of online pet retailer Chewy, will lead a board task force on digital change.

Larry Culp, CEO of General Electric

Scott Mlyn | CNBC

According to The Wall Street Journal, General Electric is on the verge of a $ 30 billion deal to combine its aircraft leasing business with Ireland’s AerCap Holdings. GE Capital Aviation Services is one of the world’s largest jet leasing companies, leasing passenger aircraft from companies such as Boeing and Airbus. GE shares rose about 2.5% on the Monday leading up to its IPO. The AerCap share gained 12%.

5. Oil prices rise after the attack on facilities in Saudi Arabia

Brent crude, the international oil benchmark, rose above $ 70 a barrel on Monday for the first time in more than a year. The surge came after Saudi Arabia said on Sunday that its facilities in Saudi Aramco were attacked by rockets and drones. Yemen’s Iranian-centric Houthi movement took responsibility for the attack. West Texas Intermediate Crude Oil, the US benchmark, also rose, trading above $ 66 on a nearly two-year high.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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

5 things to know before the stock market opens March 5, 2021

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

1. The Dow will rise after the steep sell-off on Thursday

Traders on the floor of the New York Stock Exchange.

Source: NYSE

The Dow futures initially fell lower and then rose higher on Friday after the government reported significantly better-than-expected job growth in February. Shares rebounded, although bond yields rose even further. Federal Reserve chairman Jerome Powell failed to reassure investors Thursday that the central bank would keep rising bond yields and inflation in check.

The Dow closed 345 points, or 1.1%, lower Thursday in a wild session that saw the average of the 30 stocks more than double what it was on any notch. The S&P 500 fell 1.3%. The Nasdaq was the big loser that day, falling more than 2% to close nearly 10% of its record high on February 12th. The index also turned negative over the course of the year. At the close of trading on Thursday, the Dow and S&P 500 held on to weak gains of 2021.

2. Employers created more than expected jobs in February

The Department of Labor reported Friday morning that the U.S. economy created 379,000 new jobs in February, well above projections of 210,000 non-farm pay hikes. The unemployment rate fell to 6.2% and was thus slightly below the estimate of 6.3%. Almost all of the last month’s job gains came from the ailing leisure and hospitality sector, which added 355,000 jobs as some states began easing restaurants in Covid.

3. The yield on 10-year government bonds hit a new 1-year high

Federal Reserve Chairman Jerome Powell speaks during a Senate Banking Committee hearing on Capitol Hill in Washington on December 1, 2020.

Al Drago | Pool | Reuters

The 10-year government bond yield rose higher on Friday, trading above 1.62% and hitting a new one-year high before pulling back a little. Yields have risen rapidly since late January, fueling inflation fears. Powell has done little to address these concerns, admitting that he sees some inflationary pressures ahead. However, he also said rising prices are unlikely to be enough to spur the Fed to hike rates. The market had been looking for Powell to more directly address the recent surge in bond yields, with a possible hint of an adjustment to the Fed’s asset purchase program.

4th Senate Approaches Covid Relief Bill Votes After GOP Delay

Members of the National Guard gather outside the U.S. Capitol in Washington, DC, United States on Thursday, March 4, 2021.

Stefani Reynolds | Bloomberg | Getty Images

Senate debate over the Democrats’ $ 1.9 trillion coronavirus bailout continues as lawmakers seek to break a deadline to prevent a surge in federal unemployment benefits from draining. The Senate voted on Thursday to begin the bailout debate and set the stage for its approval this weekend under rules that allow it to be passed by a simple majority. Vice President Kamala Harris had to break a 50:50 tie after a party line in the evenly divided chamber. Once the Senate considered the bill, Senator Ron Johnson, R-Wis., Forced the Chamber’s staff to read the entire 628-page move aloud.

5. Connecticut among states easing some virus-related restrictions

Pharmacist Madeline Acquilano vaccinates public school safety officer Victor Rodriguez with the Johnson & Johnson Covid-19 vaccine at Hartford Hospital in Hartford, Connecticut on March 3, 2021.

Joseph Precious | AFP | Getty Images

Connecticut will relax many Covid abatement restrictions for businesses, theaters, churches, and travel in two weeks. But Democratic Governor Ned Lamont said Thursday the nationwide mask mandate would remain in place. Connecticut is among many states easing virus restrictions, despite repeated warnings from health officials that opening too quickly could risk another deadly wave in the US. This week, the Republican governors of Mississippi and Texas went a step further and ended all Covid restrictions, including mask mandates.

– The Associated Press contributed to this report. Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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Business

5 issues to know earlier than the inventory market opens March 4, 2021

5 things to know before the stock market opens March 4, 2021

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

1. Stock futures indicate more weakness

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Futures linked to major US stock indices were lower, pointing to Wall Street for the third day in a row.

Futures contracts linked to the Dow Jones Industrial Average indicated a loss of around 50 points on opening. S&P 500 futures fell 0.2% and Nasdaq 100 futures lost 0.2%. Big Tech, badly hit in the previous session due to rising bond yields, continued to trade in the red on the pre-market. Apple, Microsoft, Facebook, Alphabet and Netflix all fell slightly in early trading.

Stocks posted heavy losses during Wednesday’s regular trading as rising bond yields frightened investors. The S&P 500 fell 1.3% while the DJIA was down 119 points, or 0.38%. The Nasdaq Composite was the relative underperformer, falling 2.7% as tech names fell.

Among the market-moving events on Thursday was the speech by Federal Reserve Chairman Jerome Powell at the Wall Street Journal’s Jobs Summit.

2. Unemployment claims on deck

Married couple Renne Alva, 37, and Travis Wasicek, 43, sit among their belongings on Seawall Boulevard and hug to keep warm after record breaking winter temperatures in Galveston, Texas on February 18, 2021. The couple said they were last left homeless a year after losing their jobs due to the economic fallout from the global coronavirus (COVID-19) pandemic.

Adrees Latif | Reuters

Investors will also be informed of the pace of the labor market recovery when unemployment claims data is first released for the week ending February 27. Economists polled by Dow Jones forecast 750,000 first-time applicants.

The previous week, unemployment claims reached 730,000, well below the Dow Jones estimate of 845,000. The ongoing claims hit a new low in the pandemic-era just over 4.42 million.

3. Biden agrees to curb $ 1,400 of stimulus checks

United States President Joe Biden speaks during a virtual meeting with the House Democratic Caucus at the Eisenhower Executive Office Building in Washington, DC on Wednesday, March 3, 2021.

Yuri Gripas | Abaca | Bloomberg | Getty Images

President Joe Biden has endorsed a plan to lower income caps for Americans to receive stimulus checks under the $ 1.9 trillion coronavirus aid package due to be passed in the coming days, a Democratic said Source on Wednesday with.

The structure would lower the House-approved ceilings on direct payments income. According to the lower chamber’s bill, individuals earning up to $ 100,000 (and joint applicants earning up to $ 200,000) would have received some amount. Under the new plan, the stimulus exam exit levels would be $ 1,400, $ 75,000 for single applicants, $ 112,500 for heads of household, and $ 150,000 for joint applicants.

The House is expected to approve the Senate version of the bill next week.

4. Melvin Capital gained more than 20% in February

This illustrative photo shows a person checking GameStop inventory on a smartphone in Los Angeles on February 17, 2021 while the Reddit, Citadel, Robinhood and Melvin Capital logos appear before the virtual hearing with GameStop inventories in the background.

Chris Delmas | AFP | Getty Images

5. The SpaceX Starship prototype rocket explodes after a successful landing

Starship’s SN10 prototype rocket is on the launchpad at the company’s Boca Chica, Texas facility.

SpaceX

SpaceX’s spaceship prototype exploded shortly after landing for the first time after a high-altitude flight test.

The cause of Wednesday’s explosion or whether it was intentional was not immediately clear. Elon Musk alternatively refers to explosions as “RUDs” or “Rapid Unscheduled Disassembly”.

The company test flew with the Starship rocket Serial Number 10 or SN10. SpaceX wanted to launch the prototype to an altitude of 10 kilometers or an altitude of 32,800 feet. There were no passengers on board the rocket, which is a development vehicle and flies autonomously.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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Business

5 issues to know earlier than the inventory market opens March 3, 2021

5 things to know before the stock market opens March 3, 2021

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

1. Dow futures turn negative, giving up previous gains of 200 points

Traders on the floor of the New York Stock Exchange

Source: NYSE

The Dow is expected to fall on Wednesday with the futures wiping out previous gains of 200 points. Late-session selling also reversed a strong rally on Tuesday. The average of the 30 stocks fell 0.5% and the Nasdaq 1.7% on Tuesday as technology stocks pulled back. The S&P 500 was down 0.8% one day after its largest one-day gain since June.

US companies created a disappointing 117,000 new jobs in February, according to the latest ADP private sector employment report. Economists had expected an increase of 225,000 positions. The January additions have been revised up to 195,000. The ADP hasn’t been the best predictor of the government’s monthly job report lately, which comes out on Friday.

2. The Senate will soon begin debating the $ 1.9 trillion Covid Relief Act

Senate Majority Leader Chuck Schumer (D-NY) speaks on the second day of Trump’s second impeachment trial in Washington on February 10, 2021 with reporters in the Senate reception room.

Brandon Bell | Pool | Reuters

The Senate is expected to begin debating its version of the US $ 1.9 trillion Covid Relief Bill passed by the House of Representatives as early as Wednesday. However, it rules out raising the federal minimum wage to $ 15 an hour. President Joe Biden on Tuesday called on Democrats to come to an agreement and approve the measure, even as some party moderators attempted to recall parts of the package. Lowest margin Democrats in the Senate apply special rules that would allow them to pass the bill without the support of the GOP.

3. The US will have enough Covid vaccines for “every adult” by the end of May

A member of the U.S. Armed Forces administers a COVID-19 vaccine to a police officer at a FEMA vaccination center on March 2, 2021 in Philadelphia, Pennsylvania.

Mark Makela | Getty Images

The US will have sufficient supplies of coronavirus vaccines to vaccinate every adult in America by the end of May, two months earlier than expected, Biden said Tuesday. The announcement came as the government is working to ramp up production of Johnson & Johnson’s newly approved single vaccine, and rival Merck agrees to participate.

Republican governors of Texas and Mississippi announced Tuesday that they were lifting mask mandates in their states and allowing companies to reopen at full capacity even as the decline in new daily Covid cases slows. CDC director Dr. Rochelle Walensky warned states Monday not to lift public health restrictions too quickly.

4. America’s Biggest Firms Pushing the Road to Citizenship for “Dreamers”

Protesters gather in front of the U.S. Supreme Court as the judges make oral arguments to consolidate three cases in court over the Trump administration’s offer to end the DACA (Deferred Action for Childhood Arrivals) program in Washington, United States, on Dec. November 2019.

Jonathan Ernst | Reuters

5. Stocks to watch: Rocket Companies, Las Vegas Sands, Oscar Health

Rocket Companies fell 6% in the pre-market on Wednesday after more than doubling in the past three sessions. On Tuesday, Quicken Loans and Rocket Mortgage parent company rose over 71% with no discernible news. The sharply cut stock appears to have piqued bullish interest from day traders on Reddit’s WallStreetBets forum.

Casino operator Las Vegas Sands announced Wednesday that it will sell its Vegas real estate and operations to private equity giant Apollo Global Management for approximately $ 6.25 billion. Accommodations include the Venetian Resort Las Vegas and the Sands Expo and Convention Center. Las Vegas Sands shares rose nearly 3% in the pre-market. Apollo fell nearly 1%.

Oscar Health will debut on the New York Stock Exchange on Wednesday. The health insurance start-up, backed by Google parents Alphabet, valued its IPO at $ 39 per share on Tuesday evening, above the already raised expected range of $ 36 to $ 38. The initial public offering gives Oscar Health a market value of $ 7.7 billion prior to trading.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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5 issues to know earlier than the inventory market opens Feb. 26, 2021

5 things to know before the stock market opens Feb. 26, 2021

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

1. Stocks try to bounce off the tech-driven router on Thursday

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

NYSE

US stock futures were troubled as tech stocks rebounded from Thursday’s price, which dragged the Nasdaq down 3.5% for its worst one-day performance since October. Tesla fell slightly again in the pre-market on Friday, a day after falling 8% in a brutal week. The Dow Jones Industrial Average fell 559 points, or 1.8%, on Thursday from a record high in the previous session. The Dow had its worst day in nearly a month and the S&P 500 was down nearly 2.5%. The sell-off was due to the rapid rise in bond yields.

All three stock benchmarks tracked weekly losses. Before the last day of trading in February, the Nasdaq held onto a profit for the month, which started off strong. The Nasdaq fell nearly 7% from its record high February 12. The Dow and S&P 500 remained solidly in the green all month. However, the S&P 500 was nearly 2.7% below its last record high, also on February 12.

2. The yield on 10-year government bonds has fallen slightly from the high for the year

The 10-year government bond yield fell on Friday morning but remained above 1.4% after rising to 1.6% in the previous session, its highest level since February 2020 and more than 0.5% since late January was. The rise in 10-year return, which serves as the benchmark for mortgage rates and auto loans, was driven by expectations of an improvement in economic conditions with coronavirus vaccine adoption, as well as fears of higher inflation.

A new round of government business reviews approved in December brought personal income to its largest monthly gain since April 2020, despite inflation remaining low. The Commerce Department reported Friday morning that January personal income rose 10%, slightly exceeding expectations. Personal consumption expenditure inflation was in line with estimates of 1.5%.

3rd house to hand over Covid bill; Senate official says no minimum wage

Service workers will vote in Washington on January 26, 2021, for the introduction of the wage increase law, which includes a minimum wage of $ 15 for workers with tips.

Ever Countess | Getty Images Entertainment | Getty Images

Inflation concerns are being fueled by the thought that the $ 1.9 trillion Covid economy, which will be passed on Friday, could overheat the economy in addition to accelerating growth. Democrats on Capitol Hill are trying to enforce their relief efforts, including raising the federal minimum wage to $ 15 an hour, without support from the GOP. However, a key impartial official, the Senate MP, ruled that Democrats cannot include the minimum wage increase in the bill. The decision means the Senate will likely pass a different version of the legislation than the House, and officials will have to approve the plan a second time.

4. FDA panel votes on J & J’s single-shot Covid vaccine

A health care worker fills a syringe from a vial with a dose of the Johnson & Johnson vaccine against the COVID-19 coronavirus as South Africa continues its vaccination campaign at Klerksdorp Hospital on February 18, 2021.

Phill Magakoe | AFP | Getty Images

A key advisory body to the Food and Drug Administration will vote on Friday on whether to recommend approval of Johnson & Johnson’s single-shot Covid vaccine for use in an emergency. This would pave the way for a third preventive treatment in the US while the full FDA doesn’t – I don’t have to follow the recommendation of the vaccines committee, it often does. On similar requests from Pfizer and Moderna for vaccines, the FDA approved these companies’ two-shot regulations a day after the panel of external medical advisors endorsed the emergency approval.

5. DoorDash stock falls after the company dropped its first results since going public

A DoorDash Inc. delivery bag lies on the floor of Chef Geoff’s restaurant in Washington, DC

Andrew Harrer | Bloomberg | Getty Images

As more Americans get vaccinated and the economy continues to open fully, companies like DoorDash that have benefited from home trading could be hurt. In its first public company report, the grocery delivery company announced to shareholders that it expects some of the tailwinds it has experienced on home orders in the US to reverse once the country gets the virus under control. Shares were down 10% on the Friday before going public. Even with that drop, DoorDash would have been up nearly 50% from its offering price of $ 102 per share in December. While DoorDash posted fourth quarter revenue of $ 970 million late Thursday, beating estimates, it also recorded an adjusted loss per share of $ 2.67.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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5 issues to know earlier than the inventory market opens Feb. 23, 2021

5 things to know before the stock market opens Feb. 23, 2021

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

1. Nasdaq will fall again while Big Tech will slide again

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

NYSE

US stock futures were mostly lower on Tuesday, pointing to a 1.8% decline in the Nasdaq, a day after the index fell nearly 2.5% in its worst one-day decline in nearly a month . Tech stocks continued to decline in the premarket on Tuesday, with Apple falling 2% after falling nearly 3% on Monday.

Dow’s Home Depot share fell 2% in premarket trading amid fears that sales growth in the Covid pandemic will not last. A share decline of this magnitude would severely detract from modest year-to-date earnings.

The S&P 500 fell nearly 0.8% on Monday, a fifth straight decline, its worst in nearly a year. The Dow Jones Industrial Averaged bucked the downtrend on Monday and closed a little higher. It’s that time again on Tuesday morning. All three equity benchmarks remained stronger over the month.

2. Bond yields rose this week ahead of Powell’s statement

Federal Reserve Chairman Jerome Powell speaks during a virtual press conference in Tiskilwa, Illinois, United States on Wednesday, December 16, 2020.

Daniel Acker | Bloomberg | Getty Images

Federal Reserve Chairman Jerome Powell travels to Capitol Hill twice this week to appear before the Senate Finance Committee on Tuesday and the House Financial Services Committee on Wednesday. Rising bond yields and accompanying inflation fears are adding to the growing concern about Powell’s remarks. The yield on 10-year government bonds, which is reversing the price, was a little lower on Tuesday morning. But it’s been up lately, trading around 1.36%. On Monday it was 1.39%, the highest level in about a year.

3. Bitcoin drops below $ 50,000; Tesla stocks are falling again

Costfoto | Barcroft Media | Getty Images

Bitcoin fell 9% on Tuesday morning and fell below $ 50,000. The world’s largest digital currency, which is still up 60% this year, hit an all-time high of over $ 58,000 on Sunday. Price fluctuations of more than 10% are not uncommon in crypto markets. Bitcoin soared to nearly $ 20,000 once in 2017 before losing 80% the following year. Treasury Secretary Janet Yellen warned of these wild swings on Monday.

Elon Musk, CEO of Tesla, speaks at a delivery ceremony for the Tesla China-made Model 3 in Shanghai, east China, on Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

Tesla shares, which revealed an investment in Bitcoin earlier this month, fell another 4.5% on the Tuesday ahead of the IPO. The stock fell more than 8.5% on Monday, the biggest drop since late September. Of course, other tech stocks also suffered heavy losses on Monday. Elon Musk’s electric car maker shares rose just 1.25% this year ahead of Tuesday’s trading. However, in the past 12 months, Tesla rose nearly 300%.

4. Home Depot, Macy’s Report Better Than Expected Quarterly Results

A Home Depot store can be seen in Washington, DC on August 18, 2020.

NICHOLAS COMB | AFP | Getty Images

Home Depot’s profits and sales rose above expectations in the fourth quarter as consumers poured more money into home improvement due to the pandemic and strength of the real estate market. However, shares fell on comments from Home Depot’s CFO asking how long the pandemic would last and how that could affect consumer spending.

People wear face masks as they walk through Herald Square in New York City on January 8, 2021.

Angela Weiss | AFP | Getty Images

Macy’s shares rose more than 1% in the pre-market after the retailer reported its first quarterly profit in a year. Fourth quarter sales also beat estimates as the company’s efforts to reduce inventory levels during the holiday quarter and rely less on deep discounting pay off. Ahead of Tuesday’s trading, Macy’s shares rose 35% this year despite struggling for the past 12 months.

5. Electric car manufacturer led by a former Tesla engineer to go public

The Lucid Air sedan, which is slated to go into production at a facility in Arizona next year.

Clear

Electric vehicle maker Lucid Motors plans to bring a combined equity valuation of $ 11.75 billion to the stock market through a reverse merger with a blank check company. The deal between Lucid of California and Churchill Capital Corp IV is the largest in a series of such collaborations involving EV companies and special-purpose acquisition companies. CCIV’s shares fell more than 30% in the pre-market. Speculation about the deal drove SPAC shares up 470% this year alone. Lucid is run by ex-Tesla engineer and automotive veteran Peter Rawlinson.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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5 issues to know earlier than the inventory market opens Feb. 18, 2021

5 things to know before the stock market opens Feb. 18, 2021

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

1. Dow to fall as Walmart slips on disappointing earnings

Traders on the floor of the New York Stock Exchange

Source: The New York Stock Exchange

US stock futures fell Thursday after Dow stock Walmart fell more than 4.5% in the pre-market on disappointing gains. Wednesday’s Dow Jones Industrial Average offset a loss of 180 points and ended up 90 points higher, which is another record close. The S&P 500 and the Nasdaq closed slightly lower for the second year in a row. The S&P 500 reduced losses after minutes from the Fed’s last meeting, signaling longer monetary policy as the economy was nowhere near pre-coronavirus levels.

The Department of Labor reported 861,000 new jobless claims for the past week Thursday morning, nearly 90,000 more than expected. The previous week’s initial unemployment claims display has been increased by 55,000 to 848,000. The four-week moving average was 833,250.

2. Walmart Misses Revenue, Beats Revenue; CEO to increase wages

A worker wearing a protective mask arranges shopping carts outside a Walmart store in Duarte, California, the United States, on Thursday, November 12, 2020.

David Swanson | Bloomberg | Getty Images

Walmart reported adjusted earnings of $ 1.39 per share for the fourth quarter, which was below estimates. Revenue rose 7.3% to a better than expected $ 152.1 billion. The big box retailer’s US e-commerce sales increased 69% and sales in the same store in the US increased 8.6%. Doug McMillon, CEO of Walmart, said the company will raise US workers’ wages and raise the average hourly employee to over $ 15 an hour.

3. What to Expect from the GameStop Hearing with Robinhood, Citadel and Reddit CEOs

Jakub Porzycki / NurPhoto via Getty Images

The heads of Robinhood, Reddit, Citadel and Melvin Capital will be in Washington for the highly anticipated GameStop hearing on Thursday, scheduled to begin on the House Financial Services Committee at 12 p.m. ET. In prepared remarks, Reddit CEO Steve Huffman said that no significant activity at WallStreetBets was carried out by bots or foreign agents in the past month. Keith Gill, the Reddit and YouTube trading star known as “Roaring Kitty,” plans to defend his social media posts that helped spark a mania in GameStop stocks.

4. How the Texas power grid went down and what could stop it from happening again

Pike Electric Service Trucks line up in Fort Worth, Texas, after a snow storm on February 16, 2021. Winter Storm Uri has historically brought cold weather and power outages to Texas as storms with a mixture of freezing temperatures and precipitation swept across 26 states.

Ron Jenkins | Getty Images

More than 500,000 households in Texas are still without power on Thursday morning after the historic Sunday night cold and snow that caused the state’s worst blackouts in decades, according to poweroutage.us. Millions of people have been in the dark at the height of the crisis caused by a confluence of factors. Officials are already calling for an investigation. Experts said Texas can take a number of steps to combat future problems, including weathering equipment and increasing the oversupply needed to meet peak electricity needs.

5. US life expectancy falls by a year in a pandemic, worst since World War II

Cemetery worker Keith Yatcko was preparing a grave for a burial at State Veterans Cemetery when the coronavirus disease (COVID-19) outbreak broke out in Middletown, Connecticut, United States on May 13, 2020.

Brian Snyder | Reuters

Life expectancy in the US dropped an amazing year in the first half of 2020 as the pandemic caused the first wave of coronavirus deaths. The minorities had the greatest influence, with black Americans losing nearly three years and Hispanics nearly two years on Thursday, according to preliminary CDC estimates. “You have to go back to World War II, the 1940s, to find such a drop,” said Robert Anderson, who oversees the numbers for the CDC. It is already known that 2020 was the deadliest year in US history. For the first time, more than 3 million people were killed.

– The Associated Press contributed to this report. Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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5 issues to know earlier than the inventory market opens Feb 17, 2021

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. Stocks open flat after Dow closed 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

US stock futures remained stable on Wednesday as Wall Street remained on track for its best monthly performance since November. In a mixed session on Tuesday, the Dow Jones Industrial Average closed with another record. The S&P 500 and Nasdaq broke their two-day winning streak with small losses and fell from the record closings of the previous session.

On Wednesday’s economic calendar, the Department of Commerce’s January retail sales report showed a 5.3% increase, defeating estimates of a 1.2% increase. A month after Congress approved an additional $ 900 billion Covid stimulus package on top of the $ 2.2 trillion it approved in early 2020, buyers were armed with $ 600 checks to give them a Variety of goods bought.

Regardless of this, the labor ministry’s producer price index rose by 1.3% in January, again well above the estimates that had called for an increase of 0.4%.

The 10-year government bond yield rose over 1.3% on Wednesday after strong retail sales and January PPI heightened fears of possible inflation during the post-Covid economic recovery.

2. Bitcoin hits a new high, topping $ 51,000 for the first time

Omar Marques | LightRocket | Getty Images

Bitcoin cracked $ 51,000 to hit a new all-time high on Wednesday. Big financial companies seem to be getting excited about Bitcoin after Tesla and other companies showed support for the cryptocurrency. Bitcoin’s recent rally recalls its massive surge to nearly $ 20,000 in 2017, which was followed by an 80% plunge the following year. However, the world’s largest cryptocurrency has since seen a violent comeback, more than quadrupling in 2020 and gaining over 70% this year.

3. Here are Warren Buffett-led Berkshire stock moves for the past quarter

Warren Buffett

Gerry Miller | CNBC

Warren Buffett’s Berkshire Hathaway bought $ 4.1 billion in Chevron and $ 8.6 billion in Verizon shares in the fourth quarter, according to the conglomerate’s most recent 13-F filing with the SEC . Berkshire also sold its stakes in drug companies Pfizer and JPMorgan Chase, while reducing its position in Wells Fargo. Apple is still the largest holding, but Berkshire has further scaled back its lucrative position in the company, slashing it by about 6%.

4. Elon Musk’s SpaceX valuation jumps to around $ 74 billion

SpaceX CEO Elon Musk stands at the base of a prototype Starship rocket at the company’s facility in Boca Chica, Texas.

Steve Jurvetson on flickr

SpaceX closed another large round of equity financing last week for $ 850 million, the financing people told CNBC. The company’s valuation rose 60% from the previous round in August to around $ 74 billion. Elon Musk, who also co-founded Tesla, saw insiders and existing investors in his commercial space company selling an additional $ 750 million in a secondary transaction, one respondent said. SpaceX did not immediately respond to CNBC’s request for comment.

5. Millions in Texas are still without power as new storms strike

Pike Electric Service Trucks line up after a snow storm in Fort Worth, Texas on February 16, 2021. Winter Storm Uri has historically brought cold weather and power outages to Texas as storms with a mixture of freezing temperatures and precipitation swept across 26 states.

Ron Jenkins | Getty Images

Millions of Texas residents were still in the dark Wednesday with no indication of when their service might return when another winter storm hit the southern portion of the nation. A total of 2 to 3 million customers in the US energy capital were without electricity two days after the historic snowfall, and the single-digit temperatures led to an increase in the demand for electricity for heating.

The wholesale prices for electricity and natural gas have risen in the last few days. However, natural gas futures fell early Wednesday. U.S. oil prices continued their spike on Wednesday, gaining more than 1%, rising to over $ 61 a barrel, a level not seen since the beginning of the coronavirus pandemic.

– The Associated Press contributed to this report. Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

Categories
Health

5 issues to know earlier than the inventory market opens February 16, 2021

5 things to know before the stock market opens February 16, 2021

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

1. Dow, S&P 500 and Nasdaq aim to hit record highs

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

NYSE

US stock futures rose Tuesday, adding to the record close on Friday for the Dow Jones Industrial Average, S&P 500, and Nasdaq. The US stock market was closed Monday for Presidents Day. All three stock benchmarks rose last week, continuing February’s strength. At the close of trading on Friday, the Dow, S&P 500 and Nasdaq were up nearly 2.8%, 4.8% and 9.4%, respectively.

The 30-year Treasury yield was above 2% early Tuesday as investors responded to progress on President Joe Biden’s proposed $ 1.9 trillion Covid stimulus package on Capitol Hill and calls for a broader one Coronavirus vaccine spread in the US waited more than 1.26%.

CVS Health reported quarterly earnings of $ 1.30 per share, 6 cents above estimates. The revenue also exceeded Wall Street projections, aided in part by Covid-19 testing and vaccinations at pharmacies.

2. Bitcoin hits a new high of over $ 50,000

In this photo illustration, a visual representation of the digital cryptocurrency, Bitcoin can be seen in Paris, France on February 9, 2021, ahead of the Bitcoin rate graph.

Chesnot | Getty Images

Bitcoin hit a new record high on Tuesday, rising above $ 50,000 per unit for the first time before reducing some of those gains. Big companies announced support for digital currencies last week. Tesla announced that it had purchased $ 1.5 billion worth of Bitcoin. Mastercard announced on Thursday that it would support certain cryptocurrencies later this year, while BNY Mellon announced the following day that it would open its custody services to digital assets. Bitcoin more than quadrupled in 2020 and is up over 60% this year.

3. Freezing in Texas causes massive energy crisis

Cattle shelter from the cold wind on the side of a pump jack array Saturday February 13, 2021 in Midland, Texas.

Eli Hartman. | Odessa American | AP

More than 3.8 million households in Texas were in the dark Tuesday morning as record temperatures spiked electricity needs for heat, pushing the state’s power grid to its limits. Texas has imposed rolling power outages that typically occur on 100-degree summer days.

  • The power shortage was so great that spot prices for wholesale power in the Texas power grid rose by more than 10,000% on Monday.
  • Natural gas futures rose more than 6% on Tuesday morning. However, RBC analysts said, “Certain regional spot prices for natural gas have increased 10 to 100 times in a matter of days.”
  • U.S. oil prices also surged to a pandemic high of over $ 60 a barrel as wells and refineries shut down due to the cold.

The cold weather was part of a massive winter explosion that brought snow, sleet, and freezing rain to the southern plains across parts of the Ohio Valley and the northeast.

4th Congress to establish a Capitol Insurrection Commission

House Speaker Nancy Pelosi (D-CA) speaks about instigating the fatal attack on the U.S. Capitol in Washington during a press conference with the House’s impeachment managers on the fifth day of the impeachment trial of former U.S. President Donald Trump. USA, February 13, 2021.

Al Drago | Reuters

House spokeswoman Nancy Pelosi said Monday that Congress will set up an independent 9/11-style commission to deal with last month’s deadly riot in the U.S. Capitol. The investigation into the riots was already planned. The Senate hearings in the Regulatory Committee are scheduled for later this month.

The House impeachment officials, who spoke out in favor of Donald Trump’s conviction of inciting the attack, said Sunday they had proven their case. Democrats also railed against Senate GOP leader Mitch McConnell and other Republicans, saying they tried “both” by finding the former president not guilty while acknowledging that he had instigated the insurgency.

5. Biden to make first official domestic trips

President Joe Biden speaks about his Covid-19 relief plan during a meeting with a non-partisan group of governors and mayors on February 12, 2021 in the Oval Office of the White House in Washington, DC.

Almond Ngan | AFP | Getty Images

Biden is trying to move beyond Trump’s impeachment acquittal last week and plans to keep a busy coronavirus schedule for the coming week. Biden will make his first official domestic tours of his presidency, beginning at a CNN city hall in Wisconsin on Tuesday, to speak to Americans affected by the pandemic. Biden visits a Pfizer Covid vaccine facility in Michigan on Thursday as the drugmaker’s and Moderna’s two-shot regimen hit pharmacies across the country.

– Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

Categories
World News

French Mayor Opens Museums, Defying Coronavirus Orders

French Mayor Opens Museums, Defying Coronavirus Orders

France, like most of Europe, saw an increase in coronavirus cases in winter as new variants spread across the continent. Now the number of cases seems to be stabilizing, partly thanks to a curfew at 6 p.m., but remains high. There were 21,063 new cases and 360 deaths as of Thursday. As of Friday morning, France had recorded nearly 81,000 deaths related to the virus.

However, the different numbers of cases have not ceased to oppose the limitations of cultural life.

France’s bookstores led the charges and a handful refused to close when the lockdown was ordered in October. Florence Kammermann, the owner of the Autour d’un Livre store in Cannes, which stayed open for several weeks despite the order, said in a telephone interview that the police had visited their store four times and fined them. But she didn’t regret her decision, she said.

She was completely against the National Rally Party and its policies, she added, but she supported Aliot in reopening museums. Many in France complained that the country’s lockdown rules were illogical, she added, “but they don’t have the courage to do so.”

French theaters have also held protests against their forced closure. In December, several venues symbolically reopened their doors to let actors and fans into their entrance rooms, although they were closed again after the action.

Jean-François Chougnet, president of the Museum of Civilizations of Europe and the Mediterranean in Marseille, said in a telephone interview that the French museum directors would like to accept all the conditions if they would allow them to reopen their doors. “Just tell us,” said Chougnet. “We are open to everything.”

On Monday, French Culture Minister Roselyne Bachelot launched a zoom call with the heads of several museums, including the Louvre, to discuss how they could safely reopen. She told attendees that museums would be the first cultural institutions to reopen once the virus was under control, said Emma Lavigne, president of the Palais de Tokyo, who was on the call.