Here are the most important news, trends and analysis that investors need to start their trading day:
1. Nasdaq futures rise as 10-year Treasury yields decline
A man walks in front of the Nasdaq building in Times Square on March 10, 2021, in New York.
John Smith | Corbis News | Getty Images
The Nasdaq on Monday was set to build on Friday’s nearly 0.8% increase, as the 10-year Treasury yield started the new week by retreating from last week’s 14-month high. The rapid rise in Treasury yields this year has put pressure on growing stocks, many of them technology names, as higher interest rates erode the value of future earnings and put pressure on market valuations. The Dow Jones Industrial Average and the S&P 500, which lost ground on Friday, joined Nasdaq in negative territory last week. The Dow and S&P 500 last closed at record highs on Wednesday, while the Nasdaq closed with a record last time in February.
2. The AstraZeneca vaccine was found to be 79% effective in a trial in the USA
A vial marked with the AstraZeneca coronavirus vaccine (COVID-19) is seen in this illustration photo taken on March 19, 2021.
Given Ruvic | Reuters
AstraZeneca’s Covid vaccine was 79% effective in preventing symptomatic diseases, according to data published on Monday in a phase 3 study of more than 32,000 people in the United States and Latin America. The double vaccine has also shown 100% effectiveness in preventing serious illness and hospitalization. AstraZeneca plans to file with the FDA for emergency use authorization in April. The latest test data was released at a time when several European nations temporarily suspended the use of the AstraZeneca vaccine after reports of blood clots. AstraZeneca said on Monday that an independent board has not identified security concerns related to the company’s inoculation.
3. Accomplishing cases increase in 21 states as governors relax restrictions
The Walgreens team prepares vaccines for the educational staff at Kettering City schools to receive the Covid-19 vaccine as part of the Ohio Phase 1B vaccine distribution in Dayton, Ohio on February 10, 2021.
Megan Jelinger | AFP | Getty Images
Even as the rate of vaccination accelerates in the United States, Covid’s cases are increasing in 21 states and highly infectious variants are spreading as governors ease restrictions on business. Public health officials warn that while about 2.5 million people across the country receive vaccines every day, levels of infection have peaked this month. Across the country, new infections are holding about 54,000, on average, in the past seven days. It is a dramatic drop from the peak in January. Although fatalities are also much lower, an average of 1,000 people have died from Covid each day for the past seven days.
4. Canadian Pacific Railway to buy Kansas City Southern
A locomotive on the Kansas City Southern (KSC) railway passes the Knoche Yard in Kansas City, Missouri, on Tuesday, January 7, 2020.
Whitney Curtis | Bloomberg | Getty Images
Canadian Pacific Railway agreed to buy Kansas City Southern for $ 25 billion in a cash deal. The combination would create the first rail network connecting the USA, Mexico and Canada. After Sunday’s announcement, Kansas City Southern’s shares were up about 17% in the pre-market, while Canadian Pacific Railway’s shares were down about 2.5%. The deal comes at a time when hopes for the US-Mexico trade to rebound are rising, now that Joe Biden has replaced Donald Trump as president.
5. Cathie Wood’s Ark Invest sees Tesla reaching $ 3,000 per share in 2025
In this photo illustration, a Tesla logo displayed on a smartphone with the stock market graph in the background.
Omar Marques | LightRocket | Getty Images
Tesla’s shares rose 4% in Monday’s pre-market after Cathie Wood’s Ark Invest made a long-awaited and bold decision, projecting that the shares of the electric carmaker led by Elon Musk would more than quadruple by 2025 Last year, Ark Invest estimated that Tesla would reach $ 1,400 adjusted for its 5-by-1 stock split by 2024. The company now sees shares reaching $ 3,000 per share in 2025 in its base case and reaching US $ 4,000 per share in your bull case. The Wood Bear case is still estimated to reach $ 1,500 in 2025. Tesla, which closed at $ 654 per share on Friday, has risen 665% in the past 12 months. However, the stock in the last month and year so far has reached a difficult stage.
– Reuters contributed to this report. Get the latest pandemic news with CNBC coronavirus blog.