Here are the most important news, trends and analyzes that investors need to start their trading day:
1. The Dow opens below after the FDA discontinued the J&J Covid vaccine
New York Stock Exchange traders.
Source: NYSE
Futures of the Dow fell on Tuesday, after the FDA and CDC recommended a break in the use of the Johnson & Johnson single-injection Covid vaccine. Federal health agencies said they were examining the reports of six recipients who had rare and severe blood clotting problems. Dow J&J shares fell 2.5% in premarket trading.
The Dow and S&P 500 started the week lower, breaking the three-session winning series and breaking Friday’s records. Nasdaq broke a series of victories in two sessions. The technological index, at the end of Monday, was 1.7% compared to the closing of the record in February.
2. J&J says it works with federal regulators
A box of Johnson & Johnson Janssen COVID-19 vaccine doses is pictured at Grubb’s Pharmacy on Capitol Hill on Monday, April 12, 2021.
Tom Williams | CQ-Roll Call, Inc. | Getty Images
In a statement, J&J said there was “no clear causal link” between the rare blood clotting events and the Covid vaccine. The US drug giant also said it was working with regulators. All six cases occurred in women between the ages of 18 and 48, with symptoms occurring six to 13 days after receiving the shot. The CDC will convene a meeting of the Immunization Practices Advisory Committee on Wednesday to further review the cases, federal health regulators said Tuesday. The FDA is also investigating the cases.
3. Consumer prices are coming in stronger than expected
A number of shoppers are waiting to enter the BJ’s Wholesale Club market at the Palisades Center during the coronavirus outbreak in West Nyack, New York, March 14, 2020.
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Treasury yields rose on Tuesday after the release of a key inflation report came in stronger than expected. The government said consumer prices rose 0.6%, with the ex-food rate and energy rising 0.3%. Year-on-year consumer prices increased by 2.6%, the highest since August 2018, gaining momentum through a strong economic recovery. The yield on the 10-year Treasury traded at around 1.68%.
4. Bitcoin reaches a new historical level before the debut of Coinbase
This illustration shows a representation of the Bitcoin virtual currency.
Dat Ruvic | Reuters
Bitcoin hit a record high of $ 63,000 on Tuesday as investors waited for the highly anticipated debut of the Coinbase cryptocurrency exchange on the stock market. Coinbase will go public on Wednesday through a direct listing that could value the company at up to $ 100 billion – more than major trading venue operators such as the Intercontinental Exchange, the owner of the New York Stock Exchange. Crypto investors welcome the company’s debut on the stock market as a major milestone for the industry after years of skepticism from Wall Street and regulators.
5. Grab agrees to go public on the largest SPAC merger in the world
Grab Holdings Inc. is displayed on a smartphone in an arranged photo taken in Singapore on Friday, September 25, 2020.
Ore Huiying | Bloomberg | Getty Images
The Southeast Asian giant Grab will go public with a record SPAC merger with Altimeter Growth Corp., valued at nearly $ 40 billion. Grab, backed by Softbank, will receive about $ 4.5 billion in cash, which includes $ 4 billion in a private investment in public equity agreements. Grab, ranked 16th on last year’s CNBC Disruptor 50 list, offers a range of digital services such as transportation, food delivery, hotel reservations, online banking, mobile payments and insurance services from its app.
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