Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stock futures start new month on a high after liquidation at the end of February
The Wall Street sign is seen outside the New York Stock Exchange (NYSE) in New York, February 16, 2021.
Brendan McDermid | Reuters
U.S. stock futures started the new month higher on Monday, with the Dow Jones Industrial Average, S&P 500 and Nasdaq indicated to rise more than 1% each, trying to reduce the fall of late February. While the rapid rise in bond yields put pressure on stocks last week, the 10-year Treasury yield fell on Monday from a year-high, trading at around 1.43%. The Dow fell 1.8% and the S&P 500 fell almost 2.5% in the week. Nasdaq suffered the most with the sale of technology, with a weekly loss of 4.9%. The strong start in February, however, was enough to take the Dow, S&P 500 and Nasdaq up by almost 3.2%, 2.6% and almost 1%, respectively, for the month.
Investing activist Jeff Ubben will join Exxon Mobil’s board of directors, sources told CNBC’s David Faber. Mike Angelakis, president and CEO of Atairos and former CFO of Comcast, is also joining the board, the sources said. The changes come as Exxon faces pressure from shareholders to reorganize its board due to the weakening of the company’s share price. Exxon made a jump of 4% during the pre-market negotiations.
2. USA gets third vaccine to fight Covid
A healthcare professional fills a syringe from a vial with a dose of Johnson & Johnson vaccine against the coronavirus COVID-19 as South Africa continues its inoculation campaign at Klerksdorp Hospital on February 18, 2021.
Phill Magakoe | AFP | Getty Images
The CDC approved Johnson & Johnson’s Covid-19 one-shot vaccine for people aged 18 and over, while the federal government is preparing to send millions of doses this week. The FDA gave the J&J vaccine, which has shown 72% effectiveness in the U.S., emergency use authorization on Saturday. While the two other vaccines approved in the U.S. – Pfizer and Moderna two-dose regimens – each showed more than 90% effectiveness, the White House chief medical advisor, Dr. Anthony Fauci, said on Sunday that all three are ” really really good “. He told NBC’s “Meet the Press” program that Americans should get any vaccine they could get.
3. $ 1.9 trillion pandemic relief bill goes to the Senate
Service industry workers speak in support of the introduction of the Raise the Wage Act, which includes a $ 15 minimum wage for tipped workers, on January 26, 2021 in Washington.
Countess Jemal | Getty Images Entertainment | Getty Images
The House passed a $ 1.9 trillion economic stimulus bill defended by President Joe Biden early on Saturday. It included direct payments of $ 1,400 to individuals, increased federal unemployment by $ 400 a week through the end of August, and billions of dollars to distribute coronavirus vaccines and help schools and local governments. The move goes to the Senate, where a provision to raise the federal minimum wage is likely to be lifted. But, as NBC News points out, the rest of the package appeared to be in good shape, as Democrats plan to use a process that does not require Republican support.
4. ‘Never bet against America’, says Buffett in an annual letter
Warren Buffett during an interview with CNBC’s Becky Quick on February 24, 2020. It ended up being another year during which the billionaire investor dodged revolutionary acquisitions in an expensive market, even after a sudden cash market and his company balance of huge box.
Gerald Miller | CNBC
Warren Buffett, the 90-year-old “Omaha Oracle”, remains a staunch believer in the United States, saying in Saturday’s publication of his annual letter to Berkshire Hathaway shareholders that he “never bet against the United States”. In the markets, Buffett said that ultra-low interest rates around the world have diminished the bond’s appeal. Buffett also said that Berkshire’s annual meeting on May 1 will be held in Los Angeles, for the first time outside Omaha, Nebraska. Vice President Charlie Munger, who lives in Los Angeles, missed the 2020 meeting due to the pandemic’s travel restrictions. Munger, 97, is expected to join Buffett this year.
5. Buffett bets on Berkshire, Apple continues to lead
While the aftermath of Covid clouded the markets in 2020, Buffett said in his letter that Berkshire repurchased about $ 9 billion worth of shares in the fourth quarter, bringing last year’s total repurchases to a record $ 24.7 billion. . Apple is still classified as the conglomerate’s largest common stock investment, which played an important role in offsetting the pandemic damage to Berkshire’s rail and insurance business in 2020. The letter contained no update on the succession or details on what Buffett could make more than $ 138 billion in cash in late 2020.
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