Here are the most important news, trends and analysis that investors need to start their trading day:
1. Dow is expected to rise after Friday’s strong job report
Traders on the New York Stock Exchange.
Source: NYSE
2. Yellen will push for global minimum tax for companies
Treasury Secretary Janet Yellen attends an economic meeting with US President Joe Biden in the Roosevelt Room at the White House in Washington, March 5, 2021.
Tom Brenner | Reuters
Treasury Secretary Janet Yellen on Monday morning will ask for a minimum tax for companies around the world in an effort to prevent companies from moving to find lower rates. “We are working with the G20 countries to agree on a global minimum corporate tax rate that could prevent the race to the bottom,” Yellen said at a conference held by the Chicago Global Affairs Council, according to a report by the Axios confirmed by CNBC. The comments came at a time when President Joe Biden is looking to increase the corporate tax rate in the U.S. as a way to pay for a $ 2 trillion infrastructure improvement plan.
3. GOP’s opposition to Biden’s infrastructure plan aligns
Senator Roy Blunt (R-MO) asks questions during a joint hearing on Homeland Security and Government Affairs and Senate Rules and Senate Administration to discuss the January 6 attack on the US Capitol on March 3, 2021 in Washington, A.D.
Greg Nash | Getty Images
Republican Sen. Roy Blunt of Missouri asked Sunday that the president reduce his infrastructure plan to about $ 615 billion and focus on rebuilding physical infrastructure, such as roads and bridges. The fourth Republican senator argued on “Fox News Sunday” that only 30% of Biden’s proposal focuses on traditional infrastructure. Blunt said the price cut would allow the White House to approve the bill in both chambers of Congress. Senate minority leader Mitch McConnell, R-Ky., Said last week that the $ 2 trillion package would not receive Republican support.
4. GameStop tanks in the stock sale plan; Tesla jumps in record deliveries
A man speaks on the phone in front of the GameStop on 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
GameStop fell 13% in Monday’s pre-market after announcing plans to sell up to 3.5 million shares, as the video game retailer plans to take advantage of the increase in its shares after a trading frenzy led by Reddit in the earlier this year. GameStop said it will use the profits to accelerate the change in its business model for e-commerce. GameStop closed Thursday at $ 191 per share. It was traded at $ 483 in late January. Before the Reddit trading took place, the shares started the year below $ 20.
A Tesla logo on a Model S is photographed inside a Tesla dealership in New York.
Lucas Jackson | Reuters
Tesla’s shares jumped more than 7% in the pre-market after the electric carmaker said Friday that it delivered nearly 185,000 vehicles during the first quarter. It is a record for the company led by Elon Musk and above the estimated 168,000 deliveries. All vehicles produced during 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, it delivered 2,020 Model S and Model X vehicles from stock.
5. The US puts J&J in charge of the plant that spoiled Covid’s vaccine
The external view of the Emergent BioSolutions plant on April 1, 2021 in Baltimore, Maryland. At this Baltimore Laboratory, 15 million doses of the Johnson & Johnson vaccine were destroyed, which will delay shipments of the vaccine to the United States.
Katopodis Tasos | Getty Images
The United States has placed Johnson & Johnson in charge of the Emergent BioSolutions plant that destroyed 15 million doses of the drugmaker’s Covid single-dose vaccine, a senior health official said on Saturday. The government also banned AstraZeneca from using the facilities. Emergent BioSolutions workers at the plant in question mixed ingredients for the J&J and AstraZeneca vaccines, according to The New York Times. AstraZeneca, whose vaccine has not been approved in the United States, said it will work with the Biden administration to find an alternative production site.
– The Associated Press and Reuters contributed to this report. Get the latest pandemic news with CNBC coronavirus blog.