5 issues it’s best to know earlier than the inventory market opens on March 9, 2021
Here are the top news, trends, and analysis investors need to get their trading day started:
1. Nasdaq will rebound while Dow will rally for three days
Traders on the floor of the New York Stock Exchange.
2. Tesla shares bounce back after five sessions, 21% sell-off
In this photo illustration, a Tesla logo is displayed on a smartphone with the stock market graphic in the background.
Omar Marques | LightRocket | Getty Images
Tesla’s shares rose about 5% on the Tuesday before going public, after falling 21% for five consecutive days. The stock, which is still up 300% over the past 12 months, was more than 36% below its record high from January. Elon Musk’s electric car maker, no stranger to wild fluctuations, saw the bear market decline in both March and September 2020. Ark Investment Management’s founder, Cathie Wood, a major Tesla investor and believer, told CNBC on Monday that they were not worried about the recent decline in their funds and the fact that the bull market for stocks is simply reliant on more strategies like that expands the value.
3. GameStop is rising again, with a focus on e-commerce
A man is on the phone in front of GameStop on 6th Avenue in New York on February 25, 2021.
John Smith | Corbis News | Getty Images
GameStop stock rose another 11% on Tuesday ahead of the market after closing 41% at $ 194 each. Monday’s strong rally came after Ryan Cohen, a major GameStop shareholder and board member, was won over to convert the video game retailer to e-commerce. Cohen, also co-founder of online pet dealer Chewy, invested in GameStop last year, which helped kick off the stock’s wild Reddit ride earlier this year. The Senate Banking Committee will hold a hearing on the GameStop saga on Tuesday morning.
4th House to vote on Democrats’ $ 1.9 trillion Covid incentive
Senate Majority Leader Chuck Schumer (D-NY) speaks about the US Senate’s recent Coronavirus Disease (COVID-19) Act during a press conference in Manhattan, New York on March 8, 2021 has passed.
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Parliament plans to pass the $ 1.9 trillion law to ease the coronavirus this week after being approved by the Senate on Saturday. President Joe Biden is expected to sign the legislation before federal unemployment programs expire on Sunday. The plan includes additional unemployment benefits, rental benefits, Covid vaccination grants, and direct payments of up to $ 1,400 to most Americans expected to go out this month. When the House passed a different version of the plan last month, no Republicans backed it and two Democrats opposed it.
5. CDC issues initial guidelines for fully vaccinated individuals
90-year-old Barbara Comer received her second Pfizer BioNTech COVID-19 vaccine shoot from CVS pharmacist Sheila Esgro on Wednesday during a clinic at The Watermark in Bellingham, East Goshen.
Pete Bannan | MediaNews Group | Getty Images
The CDC released its first guidelines for people fully vaccinated against Covid, saying those immunized can safely visit other vaccinated people around the house without wearing a mask or social distancing. Vaccinated people can also visit some unvaccinated people without masks or social distancing. However, the CDC said everyone should refrain from traveling. Someone is considered fully vaccinated two weeks after a single shot of the newly approved Johnson & Johnson vaccine, or two weeks after the second shot of the Moderna or Pfizer two-dose regimen.
– Get the latest on the Covid pandemic using CNBC’s coronavirus blog.