To Know About the Stock Market Before Monday
1. Nasdaq futures rise as 10-year Treasury yield declines
Stock Exchange , Nasdaq ; On Monday, the 10-year Treasury yield started the new week with a pullback from last week’s 14-month high; It will build on Friday’s roughly 0.8% gain. The rapid rise in Treasury yields this year is putting pressure on growth stocks, many of which are tech names, as higher interest rates erode the value of future profits and squeeze market valuations. losing ground on Friday; The Dow Jones Industrial Average and S&P 500 joined the Nasdaq in negative territory last week. While Dow and S&P 500 last closed at record levels on Wednesday; The Nasdaq last closed in February with a record
2. AstraZeneca vaccine found to be 79% effective in US trial
More than 32,000 people in the U.S. and Latin America from the phase 3 trial; AstraZeneca’s Covid vaccine was 79% effective at preventing symptomatic illness, according to data released on Monday. But the Two-shot vaccine also showed 100% effectiveness in preventing serious illness and hospitalization. AstraZeneca plans to apply to the FDA for emergency use authorization in April. And the most recent trial data came as a number of European countries temporarily suspended the use of AstraZeneca’s vaccine following reports of blood clots. AstraZeneca said Monday that an independent board has identified no safety concerns regarding the firm’s vaccination.
3.Covid cases rise in 21 states as governors loosen restrictions
Cases of vaccines and Covid are increasing in 21 states in the US, and as governors loosen restrictions on businesses; highly contagious variants are spreading. Public health officials say the infection is on the rise as nearly 2.5 million people nationwide receive the vaccine each day. Nationwide, new infections average around 54,000 over the past seven days. This is a dramatic drop from the January peak. While deaths are also much lower, an average of 1,000 people have died from Covid each day in the past seven days.
4. Canadian Pacific Railroad to buy Southern Kansas City
Canadian Pacific Railway, Kansas City Southern in a cash and stock deal; He agreed to buy it for $25 billion. The combination would create the first rail network linking the USA, Mexico and Canada. Following Sunday’s announcement, Kansas City Southern said; Shares of the Canadian Pacific Railway fell about 2.5%, while shares in the front market were up about 17%. The deal means that US-Mexico trade is now under President Donald Trump with Joe Biden; came with increasing hopes that it would increase with his replacement.
5.Cathie Wood’s Ark Invest sees Tesla reach $3,000 per share by 2025
Cathie Wood’s Ark Invest; Tesla’s shares, after the long-awaited, bold call and predicted that the electric car maker, led by Elon Musk, would more than quadruple by 2025 likewise up 4% on Monday’s pre-sale market. It is set for a 5-for-1 share split by 2024. Meanwhile, the Firm currently sees the stock reach $3,000 per share by 2025, and $4,000 per share in case of a bull. Wood’s bear case still sees it reach $1,500 by 2025. Tesla, which closed at $654 per share on Friday, is up 665% in the last 12 months. However, the stock has been on a rough patch since the past month and the beginning of the year.