Here are the most important news, trends and analysis that investors need to start their trading day:
1. Nasdaq set to rebound as Dow goes for three-day rally
Traders on the floor of the New York Stock Exchange.
Source: NYSE
In this photo illustration a Tesla logo seen displayed on a smartphone with the stock market graphic in the background.
Omar Marques | LightRocket | Getty Images
Shares of Tesla rose about 5% in Tuesday’s premarket after falling 21% over five straight down days. The stock, still up 300% over the past 12 months, was off more than 36% from January’s all-time record highs. Elon Musk’s electric auto maker, no stranger to wild swings, did see spans of bear market declines in both March and September 2020. Ark Investment Management founder Cathie Wood, a major Tesla investor and believer, told CNBC on Monday that she’s not worried about the recent drop in her funds and that the bull market in stocks is simply broadening out to include more strategies, such as value.
3. GameStop surges again with shift to e-commerce in focus
A man talks by his phone in front of GameStop at 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
GameStop shares added another 11% in Tuesday’s premarket after closing up 41% at $194 each. Monday’s strong rally came after Ryan Cohen, a major GameStop shareholder and board member, was tapped to lead the video game retailer’s shift to e-commerce. Cohen, also co-founder of online pet retailer Chewy, invested in GameStop last year, which helped spark the stock’s wild Reddit-fueled ride earlier this year. The Senate Banking Committee is set to hold a hearing on the GameStop saga Tuesday morning.
4. House set to vote on Democrats’ $1.9 trillion Covid stimulus
U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks about the coronavirus disease (COVID-19) relief legislation recently passed by the U.S. Senate during a news conference in Manhattan in New York, March 8, 2021.
Mike Segar | Reuters
The House plans to pass Democrats’ $1.9 trillion coronavirus relief bill this week, following Senate approval Saturday. President Joe Biden is expected to sign the legislation before federal unemployment programs expire Sunday. The plan includes extra jobless benefits, rental assistance, Covid vaccination funds and direct payments of up to $1,400 to most Americans, which are set to start going out this month. When the House passed a different version of the plan last month, no Republicans supported it and two Democrats opposed it.
5. CDC issues first guidelines for fully vaccinated people
Barbara Comer, 90, gets her second shoot of the Pfizer BioNTech COVID-19 vaccine from CVS Pharmacist Sheila Esgro during a clinic at The Watermark at Bellingham in East Goshen Wednesday.
Pete Bannan | MediaNews Group | Getty Images
Releasing its first guidance for people who have been fully vaccinated against Covid, the CDC said those immunized can safely visit other vaccinated people indoors without wearing a mask or social distancing. Vaccinated people can visit some unvaccinated people without masks or social distancing as well. However, the CDC said everyone should refrain from traveling. Someone is considered fully vaccinated two weeks following either a single shot of Johnson & Johnson’s newly authorized vaccine or two weeks after their second shot of Moderna’s or Pfizer’s two-dose regimens.
— Get the latest on the Covid pandemic with CNBC’s coronavirus blog.
Source by www.cnbc.com
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