Here are the most important news, trends and analysis investors need to start their trading day:
1. Stock Futures Rise After S&P and Dow Set New Records
A Wall Street street sign is displayed outside the New York Stock Exchange (NYSE) in New York, the United States on Thursday, February 11, 2021.
Bloomberg | Getty Images
U.S. equity futures were higher on Tuesday morning, as Wall Street looked to build on Monday’s record close for the Dow Jones Industrial Average and S&P 500. The Nasdaq outperformed Monday, up 0. 9%, up from Tesla’s strong session. The technology index finished 1.15% off its record. The Dow blue chip has risen in four of its last five sessions, while the large S&P has posted eight positive sessions in its last nine.
The yield on the benchmark 10-year Treasury index edged down on Tuesday morning, trading around 1.618%. On Monday, the 10-year yield hit 1.673%, but fell slightly above 1.63%.
It’s a busy week for tech earnings, including after the market close on Tuesday, when Alphabet and Microsoft heavyweights are expected to report. Advanced Micro Devices, which may provide insight into the global semiconductor shortage, and Twitter are also linked after the bell.
2. Facebook Stocks Gain After Profits Are Beaten
Tom Weller | DeFodi Pictures | Getty Images
Actions of Facebook rose about 2% in pre-market trading, as investors applauded the social media company’s better-than-expected third-quarter profits and its decision to add $ 50 billion to its buyout plan. ‘actions. While Facebook’s earnings fell short of estimates, earnings per share of $ 3.22 exceeded projections by $ 3.19, according to Refinitiv.
Facebook’s quarterly results come against the backdrop of a major ongoing document dump from whistleblower Frances Haugen, the company’s former product manager. In recent days, several news outlets have published articles on the documents, showing how Facebook is failing or struggling to cope with the damage it knows its apps and services can cause. However, Facebook CEO Mark Zuckerberg defended the social media platform during Monday’s earnings call, saying the leak portrays “a false image of our company.”
3. Tesla Reaches $ 1 Trillion Market Cap For The First Time
A Tesla store in Beijing, China on July 4, 2021.
Costphoto | Barcroft Media | Getty Images
Tesla hit $ 1,000 billion in market capitalization on Monday, after shares of the electric vehicle maker jumped 12.66% to close at $ 1,024.86. The stock was down less than 1% in Tuesday’s pre-market. Monday’s big move follows news that car rental company Hertz is ordering 100,000 vehicles from Tesla by the end of 2022. It also came after Morgan Stanley auto analyst Adam Jonas , increased its price target on Tesla to $ 1,200 from $ 900.
Tesla, by far the world’s most valuable automaker, joins Apple, Amazon and Microsoft in the $ 1,000 billion market capitalization club.
4. Biden institutes new Covid rules for international visitors when travel restrictions lift
MIAMI, FLORIDA – SEPTEMBER 03: Travelers pass through Miami International Airport before starting Labor Day weekend on September 03, 2021 in Miami, Florida. The Centers for Disease Control and Prevention has recommended that people not vaccinated against the Covid-19 virus not to travel this weekend. Those who are must wear their masks and take precautions due to the high level of transmission of Covid-19 in the country. (Photo by Joe Raedle / Getty Images)
Joe Raedle | Getty Images News | Getty Images
The Biden administration on Monday released new details of its Covid rules that will take effect on November 8, when the United States removes restrictions on international travel that had been in place since the early days of the coronavirus pandemic in 2020. Airlines will be required to verify the vaccination status of passengers traveling to the United States and collect information that can be used for contact tracing.
Additionally, unvaccinated Americans and adult travelers who are exempted from the vaccine requirement must now test negative within one day of travel; previously it was within three days of leaving for the United States Children under 18 are exempt from the vaccine requirement, the White House said.
5. Democrats scramble to reach agreement on Biden’s social spending plan
US President Joe Biden speaks in the South Court auditorium on the White House campus October 14, 2021 in Washington, DC.
drew anger | Getty Images
Congressional Democrats and the White House are scrambling to reach agreement on their domestic spending program, possibly before President Joe Biden travels to Europe on Thursday for a series of meetings. Should Democrats agree on a scaled-down version of the spending plan, House Speaker Nancy Pelosi would then put the bipartisan infrastructure bill that has already passed the Senate to a vote. If the House approves the legislation, Biden could sign it later this week.
The domestic spending envelope is expected to be between $ 1.5 trillion and $ 2000 billion, down from the original $ 3.5 trillion, as Democrats respond to concerns of two centrist members, Joe Sense Penguin from West Virginia and Kyrsten Sinema from Arizona. Their support is crucial for the plan to pass by the Senate, which is split 50-50 between Democrats and Republicans.
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