Here are the key news, trends and analyzes that investors need to start their trading day:
Stocks are relatively flat after another S&P 500 record high
People are being held on Wall St. seen outside the New York Stock Exchange (NYSE) in New York City, on March 19, 2021.
Brendan McDermid | Reuters
US stock futures were mixed on Friday, a day after moderate gains closed the S&P 500 to another close record and the Dow Jones industrial average within 24 points of Monday’s record. The Nasdaq was the real winner on Thursday and achieved a 1% increase in technology names. The Nasdaq was less than 2% from its record high in February. Federal Reserve Chairman Jerome Powell called the US economic recovery from the Covid pandemic Thursday unequal, saying temporary higher prices would not lead to worrying inflation. The remarks gave investors the assurance that the monetary policy of the Covid era will not change any time soon.
2. Treasury yields rise above producer prices
Ten-year treasury yields showed higher on Friday, but remained below 1.7% and March’s run of 14-month highs. The bond market was in conflict with the Fed this year, as traders raised yields from the belief that stronger economic growth and inflation would force central bankers to raise short-term interest rates and reduce massive asset purchases faster than forecast. The Labor Department announced its latest monthly survey on inflation in producer prices at 08:30 ET. But the report was delayed due to a website outage at the agency. Economists expect the producer price index to rise by 0.4% in March, with an increase in core nutrition and energy of 0.2%.
3. Covid cases in the US creep higher even as vaccinations increase
A member of the Maryland National Guard is handing out Post-It notes with numbers to people arriving without appointments at the Mass Coronavirus Vaccination Center at Hagerstown Premium Outlets on April 7, 2021 in Hagerstown, Maryland.
Chip Somodevilla | Getty Images
U.S. coronavirus cases are creeping up because infections are soaring in many parts of the world. Even with the U.S. vaccinating about 3 million people a day and nearly 20% of the U.S. population fully vaccinated, there were still daily new cases of Covid and deaths, averaging more than 66,000 and nearly 1,000. In a rapidly deteriorating situation in Brazil, the country became only third this week, after the US and Peru, which reported a 24-hour count of Covid deaths that were more than 4,000. In the state of Rio de Janeiro, emergency services are under the greatest pressure since the pandemic began.
4. Florida sues CDC to resume sailing in US
Royal Caribbean’s cruise ship Explorer of the Seas is docked at PortMiami on March 2, 2021 in Miami, Florida.
Joe Raedle | Getty Images
Florida’s Republican Gov. Ron DeSantis announced Thursday that the state will file a lawsuit against the Centers for Disease Control and Prevention and demand that cruise ships be allowed to resume U.S. shipping immediately. Richard Fain, CEO of Royal Caribbean, said he would like the cruise industry to be treated in a very similar way to the airlines, which are allowed to fly. However, Fain said he was optimistic about the possible resumption of US shipping in the second half of this year, citing President Joe Biden’s goal that society would return to normal by July 4.
5. Amazon lead increases in union vote in Alabama warehouse
A union representative from RWDSU is holding a sign outside the Amazon warehouse in the middle of a union on March 29, 2021 in Bessemer, Alabama.
Elijah Nouvelage | Getty Images
With about half the votes counted, Amazon has a leading position in the historic U.S. workers’ vote on whether to unite in one of the e-commerce giant’s Alabama warehouses. The count will resume on Friday. There were hundreds of disputed ballots, most of which were challenged by Amazon. About 55% of the eligible workers in Amazon’s Bessemer warehouse voted. Many unions have been talking quietly with Amazon workers about organization for many years. They faced major challenges in the US, where none of the company’s warehouses were organized. Trade unions are common among Amazon’s workers in Europe.
– The Associated Press contributed to this report. Follow all the market actions like a pro CNBC Pro. Get the latest pandemic information with CNBC’s coronavirus blog.