Here are the top news, trends and analysis that investors need to start their trading day:
1. Equity futures mixed after Dow, S&P 500 closed at record highs again
Traders work on the floor of the New York Stock Exchange.
NYSE
2. Fed to handle weak February retail sales at this week’s meeting
Federal Reserve Chairman Jerome Powell speaks at a Senate Banking Committee hearing on Capitol Hill, Washington, Dec. 1, 2020.
Al Drago | Swimming pool | Reuters
The Federal Reserve, which opens its two-day meeting in March on Tuesday, will monitor bond yields and the latest reading on retail sales. The Department of Commerce said before the bell that retail sales fell 3% in February, a surprisingly weak number. Estimates required an increase of 0.4%. However, January’s value was revised higher to a strong 7.6%, which was bumped by December’s Covid package. As the Fed’s extraordinarily easy monetary measures come under scrutiny at Covid, the country’s central bank will release new economic and interest rate forecasts on Wednesday afternoon, along with its policy statement.
3. Moderna is studying the Covid vaccine in children; more countries are stopping AstraZeneca
Moderna has begun testing the Covid vaccine in children aged 6 months to less than 12 years. The mid to late stage study aims to enroll approximately 6,750 children in the US and Canada. In a separate study, which began in December, Moderna is also testing its vaccine in adolescents between 12 and 18 years old. The dual vaccine is already approved for emergency use in Americans 18 and older.
Sweden and Latvia joined a burgeoning list of European countries on Tuesday that are suspending use of AstraZeneca’s Covid vaccine as health regulators continue to re-evaluate its side effects following reports of blood clots. Germany, France, Italy and Spain said on Monday they would all stop managing it. However, the World Health Organization and the European Drug Regulator have recommended that countries continue to use the AstraZeneca dual regimen.
4. Regulators Investigating ‘Violent’ Tesla Crash; Autopilot has not yet been ruled out
A driver drives a Tesla Motors Inc. hands-free. Model S vehicle equipped with New York Autopilot hardware and software.
Christopher Goodney | Bloomberg | Getty images
The National Highway Traffic Safety Administration is investigating a “violent” crash involving a Tesla sedan and tractor trailer in Detroit last week. Authorities have not yet said whether the electric vehicle manufacturer’s Autopilot, Full Self-Driving or FSD beta may have contributed to the accident. The NHTSA has previously started probing more than a dozen crashes that involved Tesla’s advanced driver assistance systems.
5. OxyContin maker Purdue proposes a $ 10 billion plan to get out of bankruptcy
OxyContin 80 mg pills.
Liz O. Baylen | Getty images
OxyContin maker Purdue Pharma proposes a $ 10 billion plan to get out of bankruptcy protection. Those efforts would include a significant boost, more than $ 4 billion, from members of the Sackler family who own the Connecticut-based company. Court documents show that Purdue officials continued to push to maintain the sale of OxyContin even as it became clear that the drug was being misused. Complicated lawsuits are playing out before courts across the country in attempts to hold the pharmaceutical industry accountable for the country’s opioid crisis.
– Reuters and The Associated Press contributed to this report. Get the latest news about the pandemic with CNBC’s coronavirus blog