Here are the most important news, trends and analyzes that investors need to start their trading day:
1. Dow futures jump after early Tuesday gains fall and reverse
Traders on the floor of the New York Stock Exchange
Source: NYSE
The Dow is set to rise 200 points on Wednesday, after late-day sales reversed strong gains earlier in Tuesday’s session. Coming from the best days of November, the 30-share average fell 0.5% on Tuesday, and the Nasdaq fell 1.7% as technology stocks retreated. The S&P 500 was down 0.8%, one day after June’s biggest one-day advance.
The latest ADP report on private sector employment is released at 8:30 AM ET, one hour before Wall Street opens. US companies are expected to add 225,000 new jobs in February compared to January, gaining 174,000 jobs. ADP has not been the best predictor of the government’s monthly employment report, which came out on Friday.
2. The Senate will soon begin the debate on the $ 1.9 trillion Covid aid bill
US Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters in the Senate reception hall on the second day of Trump’s second removal from Washington, February 10, 2021.
Brandon Bell | Swimming pool | Reuters
The Senate is expected to begin debates as soon as Wednesday on the $ 1.9 trillion proposed by the House on the Covid aid bill. However, it excludes raising the federal minimum wage to $ 15 per hour. President Joe Biden on Tuesday urged Democrats to remain united and approve the move, even as some party moderates sought to form part of the package. Democrats, with the lowest margins in the Senate, are using special rules that would allow them to pass the bill without GOP support.
3. The US will have enough Covid vaccines for “every adult” by the end of May
A member of the US Armed Forces administers a COVID-19 vaccine to a police officer at a FEMA Community Vaccination Center on March 2, 2021 in Philadelphia, Pennsylvania.
Mark Makela | Getty Images
The United States will have a large enough amount of coronavirus vaccines to inoculate “every adult in America” by the end of May, two months earlier than previously expected, Biden said at the White House on Tuesday. The announcement came as the administration is working to increase production of a single-shot vaccine recently eliminated by Johnson & Johnson, and rival Merck agrees to run.
Republican governors in Texas and Mississippi announced Tuesday that they are lifting mask mandates in their states and allowing businesses to reopen at full capacity even as the decline of new daily cases of Covid-19 slows. CDC Director Dr. Rochelle Walensky warned states on Monday against lifting public health restrictions too quickly.
4. The largest American companies press the path to citizenship for “Dreamers”
Protesters gather in U.S. Supreme Court as judges are scheduled to hear oral arguments in consolidating three lawsuits in court over the Trump administration’s offer to end Washington’s Deferred Childhood Arrangement Program (DACA). USA, November 12, 2019.
Jonathan Ernst | Reuters
5. Stocks to watch: Missile companies, Las Vegas Sands, Oscar Health
Rocket companies fell 6% in Wednesday’s premarket trading, after doubling in the last three sessions. On Tuesday, Father Quicken Loans and Rocket Mortgage rose by more than 71% without any apparent news. Sharply shortened shares appear to have gained little interest from day traders on Reddit’s WallStreetBets forum.
Casino operator Las Vegas Sands said Wednesday it will sell its real estate and operations in Vegas to private equity giant Apollo Global Management for about $ 6.25 billion. Properties include Venetian Resort Las Vegas and Sands Expo and Convention Center. Shares of Las Vegas Sands rose nearly 3% in the premarket. Apollo fell by almost 1%.
Oscar Health is set to debut on the New York Stock Exchange on Wednesday. The health insurance startup supported by Alphabet, the father of Google, priced its initial public offer on Tuesday night at $ 39 per share, over the already high range of $ 36-38. The IPO offers Oscar Health a market value of $ 7.7 billion before trading.
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