Here are the most important news, trends and analyzes that investors need to start their trading day:
1. Stock futures, one day after returning to Wall Street
Traders working on the New York Stock Exchange (NYSE), today, Wednesday, April 21, 2021.
US futures fell slightly on Thursday after Wall Street bounced back from a two-session loss. The Dow Jones industrial average gained 316 points or 0.9% on Wednesday. The S&P 500 rose 0.9%. The Nasdaq jumped 1.2%. The Dow and the S&P 500 were fractionally feared to close on Friday. The Nasdaq was 1% behind the February record high. The 10-year Treasury yield, which rose to a 14-month high in March and dampened technology stocks, fell early Thursday and remained below 1.6%.
The Department of Labor will report weekly on unemployment claims at 8:30 AM ET, one hour before the opening bell. Economists expect 603,000 new unemployment benefits to be filed last week. The initial requests of 576,000 from the previous week were easily the best number since the beginning of the Covid pandemic. It was the first reading below 600,000 out of the 256,000 reported for the week ending March 14, 2020.
2. Southwest, US equities rise after quarterly results
Passengers wearing protective masks cross a street outside a Southwest Airlines Co. check-in area. from Oakland International Airport in Oakland, California, USA, Monday, October 19, 2020.
David Paul Morris | Bloomberg | Getty Images
Southwest Airlines said on Thursday that leisure travel bookings continue to grow and cash flow is expected to be equal to or better by June. The Dallas-based airline posted first-quarter net income of $ 116 million, compared to a loss of $ 94 million a year ago. Its first-quarter profit was the result of more than $ 1 billion in federal aid, which offset its labor costs. $ 2.1 billion in revenue fell nearly 52 percent from a year ago. Shares rose 1.5% in the premarket.
American Airlines posted a net loss of $ 1.25 billion, the fifth consecutive quarterly loss. The carrier, like its big rivals, Delta and United, was forced to make ends meet without much of the long-term income from business and international travel. US revenues have reached just over $ 4 billion, down nearly 53 percent from $ 8.5 billion a year ago. Shares rose 2.3%.
3. Credit Suisse announces quarterly losses following the Archegos scandal
A Credit Suisse logo in the window of a Credit Suisse Group AG bank branch in Zurich, Switzerland.
Bloomberg | Bloomberg | Getty Images
Credit Suisse reported a net loss of $ 275 million in the first quarter on Thursday, after warning of large losses earlier this month following the melting of US hedge fund Archegos Capital. The Swiss bank that trades on Wall Street fell by about 7% in premarket trading. However, this loss was lower than expected. If it weren’t for Archegos, Credit Suisse CEO Thomas Gottstein told CNBC on Thursday that Q1 was “one of our best quarters in the bank’s history.” “Definitely the best quarter in 10 years,” he added, while considering the losses in Archegos unacceptable.
4. Biden promises a sharp reduction in greenhouse gas emissions by 2030
US President Joe Biden remarks on combating climate change before signing executive action in the state living room of the White House in Washington, January 27, 2021.
Kevin Lamarque | Reuters
President Joe Biden is committed to halving US greenhouse gas emissions by 2030, the White House said before hosting a global climate summit on Thursday and Friday. This target roughly doubles America’s previous commitment under the 2015 Paris climate agreement. All 40 Biden world leaders invited to the virtual assembly, including those from China and India, will attend. The summit is a chance for the United States to join global climate efforts after the Trump administration withdrew from the Paris agreement.
5. India reports global registration of new Covid cases in one day
A patient with breathing problems is seen inside an ambulance waiting to enter a COVID-19 hospital for treatment, amid the spread of coronavirus disease (COVID-19) in Ahmedabad, India, April 20, 2021.
Amit Dave | Reuters
India reported a record number of daily cases of Covid on Thursday, as the country’s second wave of coronavirus shows no signs of slowing down. There were 314,835 new cases over a 24-hour period. This exceeded the highest single-day growth in the world, held by the United States in January. There is also growing concern about the double mutation of a Covid variant that was discovered in India, which could make the virus more contagious. India ranks second in America in the most common infections among nations, with nearly 16 million, about half of the US total and about 2 million more than Brazil’s No. 3. However, unlike India and Brazil, which are on the rise, new daily cases in the US have been on a smaller trend.
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