Here are the top news, trends and analysis that investors need to start their trading day:
1. Nasdaq is recovering as Dow goes for a three-day rally
Traders on the trading floor of the New York Stock Exchange.
Source: NYSE
2. Tesla stock bounces after five sessions, 21% selloff
In this photo illustration a Tesla logo displayed on a smartphone with the stock market image in the background.
Omar Marques | LightRocket | Getty images
Shares of Tesla were up about 5% in Tuesday’s premarket after falling 21% for five consecutive days. The stock, which was still up 300% over the past 12 months, was more than 36% lower than the record highs in January. Elon Musk’s electric carmaker, no stranger to wild swings, saw the bear market’s span plummet in both March and September 2020. Ark Investment Management founder Cathie Wood, a major Tesla investor and believer, told CNBC on Monday that she has no is concerned about the recent decline in its funds and that the rising stock market is simply expanding with more strategies, such as value.
3. GameStop is on the rise again with the focus on shifting to e-commerce
A man talks to his phone in front of GameStop on 6th Avenue on Feb. 25, 2021 in New York.
John Smith | Corbis News | Getty images
GameStop shares added an additional 11% in Tuesday’s premarket after closing 41% at $ 194 each. Monday’s strong rally came after Ryan Cohen, a major GameStop shareholder and board member, was called upon to lead the video game store’s shift to e-commerce. Cohen, also co-founder of online pet store Chewy, invested in GameStop last year, sparking the wild Reddit ride earlier this year. The Senate banking committee will hold a hearing on the GameStop saga on Tuesday morning.
4. House to vote on the Democrats’ $ 1.9 trillion Covid stimulus
Majority leader in the US Senate Chuck Schumer (D-NY) speaks about the emergency response legislation for coronavirus disease (COVID-19) recently passed by the US Senate at a press conference in Manhattan in New York, March 8, 2021.
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The House plans to pass the Democrats’ coronavirus control bill this week, following Senate approval 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 assistance, Covid vaccination funds, and direct payments of up to $ 1,400 to most Americans, starting this month. When the House approved a different version of the plan last month, no Republicans supported it and two Democrats were against it.
5. CDC issues initial guidelines for fully vaccinated people
Barbara Comer, 90, will receive her second shot of the Pfizer BioNTech COVID-19 vaccine from CFS pharmacist Sheila Esgro at a clinic at The Watermark in Bellingham in East Goshen Wednesday.
Pete Bannan | MediaNews Group | Getty images
The CDC published its first guideline for people fully vaccinated against Covid, saying that those immunized can safely visit other vaccinated people indoors without wearing a mask or taking social distance. Vaccinated people can visit some unvaccinated people without masks or social aloofness. However, the CDC said everyone shouldn’t be traveling. A person is considered fully vaccinated two weeks after either a single injection of Johnson & Johnson’s newly authorized vaccine or two weeks after their second injection of Moderna’s or Pfizer’s two-dose regimens.
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