Here are the top news, trends, and analysis investors need to start their trading day:
1. Shares will fall after record deals for the Dow and S&P 500
Traders on the floor of the New York Stock Exchange.
Dara Khosrowshahi, CEO of Uber, speaks at a product launch event in San Francisco, California on September 26, 2019.
Philip Pacheco | AFP via Getty Images
Uber posted record gross bookings for March on Monday, suggesting a pickup in demand for hail drives. The tech giant’s amusement ride was hit hard by pandemic lockdowns last year. However, Uber benefited from a boom in food delivery that helped contain losses in 2020. Uber’s shares rose 2% on the Monday ahead of the market.
2. Powell says the Fed is “highly unlikely” to raise rates this year
Federal Reserve Chairman Jerome Powell speaks at a virtual press conference in Tiskilwa, Illinois on December 16, 2020.
Daniel Acker | Bloomberg | Getty Images
Federal Reserve chairman Jerome Powell reiterated the central bank’s commitment to maintaining loose monetary policy, despite seeing a rapidly recovering economy from the depths of the pandemic. “I think it is highly unlikely that we will raise interest rates this year,” Powell said in an interview that aired on Sunday on “60 minutes”. “I am able to guarantee that the Fed will do whatever it takes to support the economy for as long as it takes to complete the recovery,” he added. This support includes near-zero short-term lending rates and $ 120 billion monthly bond purchases.
3. The Covid variant evades a certain vaccination protection
A health worker delivers a dose of the Pfizer-BioNtech COVID-19 coronavirus vaccine at a mobile clinic near Moshav Dalton, northern Israel, on February 22, 2021.
Jalaa Marey | AFP | Getty Images
According to a new Israeli study, the coronavirus variant discovered in South Africa may elude some of the protection provided by the two-shot vaccine manufactured by Pfizer-BioNTech. The researchers found that the prevalence of the strain in patients who received both doses of the vaccine was about eight times higher than in patients who were not vaccinated.
View of Regeneron Pharmaceuticals corporate and research and development headquarters on Old Saw Mill River Road in Tarrytown, New York.
Lev Radin | LightRocket | Getty Images
Regeneron plans to ask the FDA to approve the use of Covid antibody therapy as a preventive treatment. In a Phase 3 clinical trial, the company announced that the drug cocktail reduced the risk of symptomatic infections in individuals by 81%. The therapy was given to then-President Donald Trump shortly after he was diagnosed with coronavirus last year.
4. CEOs Meet for White House Chip Summit; Biden meets legislators on infrastructure
President Joe Biden speaks as he announces gun violence prevention measures in the Rose Garden of the White House in Washington on April 8, 2021.
Kevin Lamarque | Reuters
5. Microsoft buys $ 16 billion worth of Nuance
Satya Nadella, CEO of Microsoft, speaks during the Future Decoded Tech Summit on February 25, 2020 in Bengaluru, India.
Samyukta Lakshmi | Bloomberg | Getty Images
Microsoft has agreed to buy Nuance Communications, a speech recognition company valued at $ 16 billion. Nuance’s shares rose nearly 19% on the Monday leading up to its IPO. The purchase of Nuance expands Microsoft’s speech software capabilities. After purchasing LinkedIn for $ 27 billion in 2016, Nuance would be Microsoft’s second-largest acquisition at $ 16 billion. Microsoft’s stocks haven’t changed much.
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