Here are the most important news, trends and analyzes that investors need to start their trading day:
1. Stocks will rise after the big sale on Tuesday
People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, March 19, 2021.
Brendan McDermid | Reuters
2. Yellen, Powell set for Day 2 of the economic testimony
Federal Reserve Chairman Janet Yellen (L) congratulates Fed Governor Jerome Powell at the inauguration of a new term on the Fed’s board of directors in Washington, in this photo taken and published on June 16, 2014.
US Federal Reserve Reuters
Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are set to offer parliamentarians a second day of economic testimony, as required quarterly by the March 2020 Covid bailout. They will appear remotely before the Banking Committee. of the Senate at 10 ET. On Tuesday, they told the House Financial Services Committee that high valuations of assets in market pockets are not yet a cause for alarm. Yellen and Powell also said they were confident in the stability of the financial sector, as the US economy continues to recover from the pandemic.
3. GameStop sinks after confirming a possible sale of shares
A man is talking on the phone in front of GameStop on 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
Shares of GameStop fell 12% in the premarket on Wednesday, after the company admitted in a file that it is considering the sale of additional capital shares. The stock rose more than 2,400% in the commercial frenzy fueled by Reddit in January before it collapsed. He returned at the end of February and at the beginning of this month on the hopes of a digital transformation. However, stocks in recent days have declined. After Tuesday’s closing bell, GameStop missed the top and bottom lines with quarterly results. But he saw e-commerce sales up 175 percent for the quarter. The company also named former Amazon and Google executive Jenna Owens as its new chief operating officer.
4. Intel will build new chip factories; Amazon is appointing a new cloud chief
Pat Gelsinger, Intel CEO, speaks in Santa Monica, California, on March 9, 2017, in a photo taken when he was CEO of VMware.
Patrick T. Fallon | Bloomberg | Getty Images
Intel’s Dow stock rose about 4 percent in premarket trading after the company said late Tuesday it would spend $ 20 billion to build two new semiconductor plants in Arizona. The announcement, which coincides with new CEO Pat Gelsinger’s first public remarks since taking office, indicates that Intel will continue to focus on production during industry changes, which have led competitors to increasingly separate chip design and manufacturing. .
Andy Jassy, CEO of Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, California, October 25, 2016.
Mike Blake | Reuters
Andy Jassy, CEO of Amazon, the company’s head of cloud business for the past 15 years, revealed his successor to Amazon Web Services in a note to employees. Adam Selipsky, a former Amazon executive and currently CEO of Salesforce-owned data visualization software maker Tableau, has been elected to lead the AWS division.
5. Elon Musk says people can now buy a Tesla with bitcoin
Tesla, led by Elon Musk, confirmed that it bought about $ 1.5 billion in bitcoin in January and expects to start accepting it as payment in the future.
Artur Widak NurPhoto | Getty Images
Elon Musk announced late Tuesday that it is now possible to buy Tesla vehicles in the US with bitcoin. “Now you can buy a Tesla with Bitcoin,” CEO Musk wrote on Twitter, who was officially made “Tesla Technology” this month. People outside the United States will be able to buy a Tesla with bitcoin “later this year,” Musk said, without specifying which countries. The electric carmaker in February revealed that it had bought bitcoin worth $ 1.5 billion. At the time, Tesla said it would soon begin accepting the world’s largest and most popular cryptocurrency as a form of payment.
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