Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stocks expected to rise after the S&P 500 closes at another record high
Traders on the floor of the New York Stock Exchange.
U.S. equity futures rose on Wednesday, a day after the modest gain in the S&P 500 pushed the index to yet another record close. The Nasdaq jumped 1% on Tuesday, moving it within 1% of February’s record close. The late afternoon return of the Dow Jones Industrial Average stalled and reversed, resulting in its second straight decline from Friday’s record arrival. The trades reopened came under pressure on Tuesday after the FDA recommended a break in the one shot Covid vaccine from Johnson & Johnson after reporting rare cases of blood clotting.
2. Bank profits exceeded estimates, topping last year
People pass the JP Morgan Chase & amp; Co. Headquarters in the Manhattan neighborhood of New York.
Mike Segar | Reuters
3. Coinbase gets a benchmark price of $ 250 per share before direct listing
The Coinbase logo displayed on a smartphone.
Chris Delmas | TUSEN via Getty Images
The Nasdaq gave Coinbase Global a benchmark price of $ 250 per share ahead of the scheduled direct listing on Wednesday. That would value the cryptocurrency exchange at around $ 65 billion, nearly eight times its valuation of $ 8 billion in its last private fundraiser in 2018. Bitcoin has been rising in recent sessions, before the debut of Coinbase. Early Wednesday, bitcoin hit new highs near $ 65,000. The world’s largest cryptocurrency has more than doubled this year.
4. CDC to Convene J&J Covid Vaccine Advisory Group
Zenobia Brown, MD, of Northwell Health’s home visiting program, prepares a dose of the Johnson & Johnson coronavirus (COVID-19) vaccine in the Astoria neighborhood of the Queens Borough on April 7, 2021 in New York City.
Michael M. Santiago | Getty Images
The CDC is set to call a meeting of the Advisory Committee on Immunization Practices on Wednesday to examine in more detail the six cases of rare but serious blood clotting problems that are leading federal regulators to recommend suspension of J & J’s Covid vaccine. . All six cases occurred in women aged 18 to 48, with symptoms developing six to 13 days after receiving the vaccine. One of the women died. Another is in critical condition.
5. Moderna publishes data on its Covid vaccine in six months
Walmart pharmacist Carmine Pascarella administers a Moderna coronavirus disease (COVID-19) vaccine for local resident Jeff Stone at a Walmart department store as Walmart and other major U.S. pharmacies participate in the federal retail pharmacy program, for increase vaccinations in the United States in West Haven, Connecticut, February 17, 2021.
Mike Segar | Reuters
Moderna, citing updated test data, said its two-dose Covid-19 vaccine was over 90% effective in protecting against Covid and over 95% effective against serious illness for up to six months afterwards. the second dose. Earlier this month, Pfizer said its vaccine, which uses technology similar to Moderna’s, was around 91% over the same period. The two vaccines from Pfizer-BioNTech and Moderna, as well as J & J’s, are the three that have been approved for emergency use in the United States.
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