Here are the most important news, trends and analyzes that investors need to start their trading day:
1. Stocks will rise after Thursday’s sale
Traders are working on the floor of the New York Stock Exchange.
NYSE
US futures returned on Friday after the Treasury’s high yields rung its technology stocks again on Thursday, causing the Nasdaq to fall 3%. The S&P 500, which also has a heavy technological weight, fell by almost 1.5% compared to its previous close. Both stock benchmarks had the worst days in almost a month. The Dow Jones industrial average fared much better, but fell further by almost 0.5% from its previous close. The Nasdaq and S&P 500, at Thursday’s close, were lower for the week, while the Dow was higher for the week.
2. The bond market is revolting as it adjusts to the Fed’s inflation policy
Federal Reserve Chairman Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill, Washington, USA, December 1, 2020.
Al Drago | Reuters
The 10-year Treasury yield retreated on Friday, a day after reaching a 14-month high of 1.754%. Traders were outraged by the Federal Reserve’s willingness to let the economy and inflation heat up as the labor market recovers. Yields barely moved on Wednesday afternoon after the Fed session ended, initially responding to rate hike forecasts by 2023. The rapid rise in yields is driven by concerns that more stimulus Covid in addition to an already recovering economy will trigger inflation worrying. The 10-year yield started the year at less than 1%.
3. Nike sales miss estimates; FedEx revenues exceed
The Nike logo is seen in the Nike store on February 22, 2021 in New York.
John Smith | Corbis News | Getty Images
The Dow Nike stock fell nearly 2% in the premarket on Friday morning after the athletic footwear and apparel maker reported third-quarter tax revenue that missed estimates. Sales growth of 2.5% to $ 10.36 billion has been affected by large-scale congestion in US ports and the continued closure of stores in Europe. Nike also warned about the prospects. However, the company exceeded estimates by 14 cents, with a profit in the third quarter of 90 cents per share.
Boxes containing the Modern COVID-19 vaccine are ready to be shipped to the McKesson Distribution Center in Olive Branch, Mississippi, USA December 20, 2020.
Paul Sancya | Reuters
FedEx, a component of the Dow Jones moving average, rose 5% in Friday’s premarket. The post-campaign delivery giant reported three-quarter earnings of $ 3.47 per share on Thursday, 24 cents better than expected. Revenues rose 23% to $ 21.51 billion, easily exceeding estimates. High holiday sales offset the severe weather in February, which affected operations at some of Fedex’s largest hubs.
4. The CDC says the United States has administered more than 100 million Covid photos
US President Joe Biden talks about the state of vaccinations during a coronavirus response event (COVID-19) in the East Room of the White House in Washington, March 18, 2021.
Carlos Barria | Reuters
The CDC’s vaccine tracking tool, updated last night, showed Friday morning that 115.7 million doses of Covid vaccine were administered in the United States, reaching 100 million initial photos of President Joe Biden in the first 100 days in office before of term. Last week, Biden said it expected to reach the target on day 60. It happened on day 57. With vaccinations in the U.S. in progress, the Biden administration on Thursday unveiled the outlines of a loan plan for a limited number of vaccine doses in Canada. and Mexico. .
5. The first US-China meeting under Biden begins with a rocky start
US Secretary of State Antony Blinken speaks with Yang Jiechi, director of the Bureau of the Central Foreign Affairs Commission, and Wang Yi, China’s foreign minister, at the opening session of the US-China talks at the Captain Hotel Cook from Anchorage, Alaska, on March 18. , 2021.
Frederic J. Brown | AFP | Getty Images
The first high-level meeting of US and Chinese officials under the Biden administration began with a series of insults at a press event ahead of the Alaska meeting on Thursday. The planned four-minute photo session for officials to address reporters lasted an hour and 15 minutes due to foam exchanges, according to NBC News. Expectations for the two-day talks, which are due to end on Friday, were already low.
– The Associated Press contributed to this report. Get the latest pandemic news with CNBC’s coronavirus blog.