Here are the most important news, trends, and analyses that investors need to start a trading day:
1. Nasdaq futures sink as rising bonds spawn slum technology
The NASDAQ logo will appear on the NASDAQ Markets site in New York on September 2, 2015.
US stocks fell in the premarket on Tuesday, showing a loss in September with just three days left in one of the weakest months in history.
Nasdaq futures fell 250 points or 1.7%. S&P futures were down nearly 1%. Dow futures fell about 0.5%. The Nasdaq and S&P 500 fell Monday. The Dow Jones Industrial Average rose moderately. The divergence on Monday occurred as government bond yields rose.
- The 10-year Treasury yield, which rose on economic optimism and inflation concerns, remained above 1.5% on Tuesday, returning to levels not seen since June. Higher bond yields moving in the opposite direction to prices can put pressure on technology stocks by exposing their high valuations.
- However, energy stocks rose in pre-market trading as US oil prices rose about 1% to about $76 a barrel, peaking at nearly three years. US oil prices rose 77% this year as Covid’s confused business activity continued to recover.
2. Fed Powell Allows Inflation to Take Longer
Federal Reserve Board Chairman Jerome Powell testifies during a hearing of the Oversight and Reform Subcommittee of the US House of Representatives on the Coronavirus crisis on June 22, 2021, in Capitol Hill, Washington, US.
Federal Reserve Board Chairman Jerome Powell said in a statement prepared for a Senate Banking Committee hearing on Tuesday that the cause of the recent rise in inflation could be taking longer than expected. warned the person. Central bank governors said economic growth “continued to pick up”, but they faced upward pressure on prices due to supply chain bottlenecks and other factors. This statement is part of Powell’s mandatory testimony to Congress regarding the Fed’s financial response to the Covid pandemic. He will go to the House Financial Services Commission on Thursday.
3. Pfizer Asks FDA to Release Covid Vaccine for Children Ages 5-11
Pfizer-BioNTech Covid-19 Vaccine Vials will be available on August 23, 2021 at the Pop-up Vaccine Clinic in the Arleta District of Los Angeles, California.
Robin Beck | AFP | Getty Images
Pfizer announced Tuesday that it has requested the FDA to release the Covid vaccine for children ages 5 to 11 for emergency use. Last week, US-based Pfizer and its German partner BioNTech said a smaller, double dose was safe and produced a “strong” immune response in clinical trials in children of this age group. Said it was made. According to data from the American Academy of Pediatrics, filing with U.S. health regulators will occur when infectious diseases in young children increase and peak in early September.
4. Senate Republicans Block Government Funding Bills and Suspend Debt Restrictions
Senate Leader Mitch McConnell (R-KY) answers questions at the United States Capitol after a Republican policy lunch in Washington, DC on September 21, 2021.
Win McNamee | Getty Images
The Republican Senate Party has blocked a bill passed in the House of Representatives to prevent the shutdown of the federal government and the possibility of US default. Parliamentarians must pass spending laws by Thursday to avoid closures, and debt limits must be suspended or increased in the coming weeks to avoid defaults. Democrats could be forced to self-suspend their debt limits, possibly as part of a fiscal adjustment bill of up to $3.5 trillion.
5. Ford, SK Innovation Spends $11 Billion on New US Plant
Released on September 27, 2021, for the artist’s production, a construction plan was opened in 2025 by US automaker Ford Motor Company and Korean battery partner SK Innovation in Kentucky.
Ford Motor Co., Ltd. | Handouts | Via Reuters
Ford shares closed 2.7% Monday, adding another 3.5% in the premarket. SK Innovation, a US automaker, and South Korea-based battery supplier, has announced plans to invest more than $11.4 billion in a new US facility that will create approximately 11,000 jobs for the production of electric vehicles and batteries. bottom. According to CEO Jim Farley, Ford does not expect to incur additional debt to fund the project. He said the move that was part of his turnaround plan at Ford would be funded from the company’s profits.