Here are the most important news, trends and analyzes that investors need to start their trading day:
1. Nasdaq futures increase as the 10-year treasury yield retreats
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
Monday’s Nasdaq was set to rise by almost 0.8% on Friday, as the 10-year Treasury yield began the new week to fall from a 14-month high last week. The rapid rise in Treasury yields this year has put pressure on growth stocks, many of them called technologies, as higher interest rates erode the value of future profits and reduce market values. The Dow Jones industrial average and the S&P 500, which lost ground on Friday, joined the Nasdaq in negative territory last week. The Dow and S&P 500 last closed at a record high on Wednesday, while the Nasdaq closed at a record high in February.
2. The AstraZeneca vaccine has been shown to be 79% effective in US studies
A vial labeled with the AstraZeneca coronavirus vaccine (COVID-19) is seen in this illustrated image taken on March 19, 2021.
Dat Ruvic | Reuters
AstraZeneca’s Covid vaccine was 79% effective in preventing symptomatic disease, according to data released Monday in a phase 3 study of more than 32,000 people in the United States and Latin America. The two-shot vaccine has also been shown to be 100% effective in preventing severe disease and hospitalization. AstraZeneca intends to submit its emergency use authorization to the FDA in April. The latest data from the study comes when a number of European nations temporarily suspended the use of the AstraZeneca vaccine following reports of blood clots. AstraZeneca said on Monday that an independent council had not identified safety issues related to the company’s inoculation.
3. Covid cases growing in 21 states as governors relax restrictions
Walgreens staff is preparing vaccines for educational staff in schools in the city of Kettering to receive the Covid-19 vaccine as part of the distribution of the phase 1B vaccine from Ohio in Dayton, Ohio, on February 10, 2021.
Megan Jelinger | AFP | Getty Images
Even though the pace of vaccinations is accelerating in the US, Covid cases are on the rise in 21 states and highly infectious variants are spreading as governors relax business restrictions. Public health officials warn that while about 2.5 million people across the country receive gunshots every day, infection levels have flattened this month. Nationally, new infections have averaged about 54,000 in the last 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 Railway will buy Kansas City Southern
A Kansas City Southern Railroad (KSC) locomotive passes through Knoche Yard in Kansas City, Missouri, on Tuesday, January 7, 2020.
Whitney Curtis | Bloomberg | Getty Images
The Canadian Pacific Railway has agreed to buy Kansas City Southern for $ 25 billion in a cash and stock transaction. The combination would create the first rail network connecting the US, Mexico and Canada. Following Sunday’s announcement, Kansas City Southern shares rose about 17% in the premarket, while Canadian Pacific Railway shares fell about 2.5%. The deal comes as hope grows that US-Mexico trade will grow now, after Joe Biden replaced Donald Trump as president.
5. Cathie Wood’s Ark Invest sees Tesla reach $ 3,000 a share by 2025
In this photo illustration, a Tesla logo seen displayed on a smartphone with the stock chart in the background.
Omar Marques | LightRocket | Getty Images
Tesla shares rose 4% in Monday’s premarket after Cathie Wood’s Ark Invest made a long-awaited, bold call, projecting that the shares of electric car maker led by Elon Musk will quadruple by 2025. Last year, Ark Invest has estimated that Tesla will reach $ 1,400 adjusted for its 5-for-1 split shares by 2024. The company now sees shares reaching $ 3,000 per share by 2025 in its base case and reaching $ 4,000 per share in his case bull. Wood’s bear case still sees it reach $ 1,500 by 2025. Tesla, which closed Friday at $ 654 a share, has risen 665 percent in the past 12 months. However, the stock in the last month and year so far has hit a bit hard.
– Reuters contributed to this report. Get the latest pandemic news with CNBC’s coronavirus blog.