5 things to know before the stock market opens on March 8, 2021

Here are the most important news, trends and analyzes that investors need to start their trading day:

US futures were largely lower on Monday, with a sharp drop in the Nasdaq and technology names indicated the start of the new week after the big change on Friday. Tesla took another 2% in the premarket after closing below $ 600 per share on Friday for the first time since early December. The stock lost a third of its value from its intraday high at the end of January.

The Dow Jones Industrial Average, S&P 500 and Nasdaq broke all three-session losses on Friday, with strong progress. For the week, the Dow and S&P 500 gained 1.8% and 0.8%, respectively. However, the Nasdaq fell 2% last week. The Dow and S&P 500 have risen nearly 3% and 2.3%, respectively, since the beginning of the year. The Nasdaq was just over equal before Monday’s opening.

The Senate’s approval of the $ 1.9 trillion Covid exemption bill on Saturday was not enough to put shares on the green market Monday, as more economic stimulus on an already recovering economy continued to raise inflation concerns. That pushes bond yields higher on Monday, with the 10-year Treasury yield trading at around 1.6%, shy compared to Friday’s one-year high. The 10-year yield has increased rapidly since the end of January, adding over 0.5% in just over a month.

The House of Commons plans to adopt the Senate-approved Covid stimulus package on Tuesday and then send it to President Joe Biden for signature. The bill passed in the Senate on Saturday comes with a smaller increase, compromising federal unemployment benefits and no increase in the federal minimum wage. The legislation includes direct payments of up to $ 1,400 to most Americans, which Biden said could be released within two weeks on Saturday.

Disney shares rose more than 1 percent in Monday’s premarket trading after California officials removed theme parks on Friday to open at low capacity on April 1. They closed almost a year ago because of the pandemic. The order includes Disneyland in the southern part of the state, Comcast’s Universal Studios Hollywood and others. Disney World in Florida and Universal Studios Orlando opened with capacity limits during the summer. Shares of Comcast, the parent company of NBCUniversal and CNBC, fell in the premarket.

GameStop shares rose about 12% in Monday’s premarket, after Bloomberg reported that the company turned to board member Ryan Cohen to guide the video game retailer’s transition to an e-commerce business. Cohen, a major GameStop investor and founder of online pet retailer Chewy, will lead a digital change board working group.

General Electric is approaching a $ 30 billion deal to combine its aircraft leasing business with AerCap Holdings of Ireland, according to The Wall Street Journal. GE Capital Aviation Services is one of the largest leasing companies in the world and leases passenger aircraft made by companies, including Boeing and Airbus. GE shares rose about 2.5% in Monday’s premarket. AerCap shares rose 12%.

Brent crude, the international oil benchmark, rose more than $ 70 a barrel on Monday for the first time in more than a year. The increase came after Saudi Arabia said on Sunday that its Saudi Aramco facilities were targeted by missiles and drones. The Houthi movement, aligned with Iran, claimed responsibility for the attack. Also, West Texas Intermediate crude oil, a US benchmark, moved higher, trading above $ 66, at a maximum level of almost two years.

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