Here are the most important news, trends and analysis that investors need to start their trading day:
1. Dow Expected to Increase After Friday’s Strong Jobs Report
Traders on the New York Stock Exchange.
Treasury Secretary Janet Yellen attends an economic briefing with U.S. President Joe Biden in the Roosevelt Room of the White House in Washington on March 5, 2021.
Tom Brenner | Reuters
secretary of the treasury Janet Yellen will call on Monday for a minimum corporate tax around the world in an attempt to prevent businesses from moving to find lower rates. “We are working with the G-20 countries to agree on a minimum global corporate tax rate that can stop the race to the bottom,” Yellen said at a conference hosted by the Chicago Council on Global Affairs , according to an Axios report confirmed by CNBC. President Joe Biden is seeking to raise the corporate tax rate in the United States to fund a $ 2 trillion infrastructure improvement plan.
3. GOP opposition to Biden’s infrastructure plan aligns
Senator Roy Blunt (R-MO) asks questions during a joint Senate hearing on Homeland Security and Government Affairs and Senate Rules and Administration to discuss the January 6 attack on the U.S. Capitol on March 3, 2021 in Washington, DC.
Greg Nash | Getty Images
Republican Sen. Roy Blunt of Missouri is urging the president to cut his infrastructure plan to about $ 615 billion and focus on rebuilding physical infrastructure such as roads and bridges. The fourth-ranking GOP senator said in “Fox News Sunday” that only 30% of Biden’s proposal focuses on traditional infrastructure. Blunt said the price reduction would allow the White House to pass the bill through both houses of Congress. Senate Minority Leader Mitch McConnell, R-Ky., Said last week that the $ 2 trillion package would not receive Republican support.
4. GameStop tanks on the inventory sales plan; Tesla jumps on record deliveries
A man talks by his phone outside GameStop at 6th Avenue on February 25, 2021 in New York City.
John Smith | Corbis News | Getty Images
GameStop fell 13% on Monday’s pre-release after announcing plans to sell up to 3.5 million shares as the video game retailer looks to profit from its stock market surge following a Reddit-related shopping spree earlier this year. GameStop said it will use the profits to speed up the transition of its business model to e-commerce. GameStop closed Thursday at $ 191 per share. It traded up to $ 483 at the end of January. Before Reddit trading took hold, the stock started the year below $ 20.
A Tesla logo on a Model S is pictured inside a Tesla dealership in New York City.
Lucas Jackson | Reuters
Tesla shares jumped more than 7% in the pre-market after the electric automaker said Friday it delivered nearly 185,000 vehicles in the first quarter. This is a record for the company and higher estimates for 168,000 deliveries. All vehicles produced during the quarter were Model 3 sedans and Model Y crossover SUVs. Tesla did not produce any of its more expensive Model S sedans and Model X SUVs. However, it delivered 2,020 Model S and Model X vehicles from inventory.
5. The United States gives J&J responsibility for the factory that botched the Covid vaccine
The exterior view of the Emergent BioSolutions plant on April 01, 2021 in Baltimore, Maryland. In this Baltimore lab, 15 million doses of Johnson & Johnson vaccine were destroyed, which will delay shipments of the vaccine to the United States.
Tasos Katopodis | Getty Images
The United States has put Johnson & Johnson in charge of the Emergent BioSolutions plant that ruined 15 million doses of the Covid vaccine at a stroke from the drugmaker, a senior health official said. The government has also banned AstraZeneca from using the facility. According to the New York Times, up-and-coming BioSolutions workers at the plant in question have mixed ingredients for the J&J and AstraZeneca vaccines. AstraZeneca, whose vaccine has not been approved in the United States, said it will work with the Biden administration to find another production site.
The Associated Press and Reuters contributed to this report. Get the latest pandemic news with CNBC Coronavirus Blog.
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
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