Here are the key news, trends and analyzes that investors need to start their trading day:
1. Stocks will bounce after Thursday’s sale
Traders work on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures bounced off Friday after Treasury yields plummeted again Thursday, lowering the Nasdaq by 3%. The S&P 500, which also carries a heavy technological weight, dropped almost 1.5% from the previous record. Both of their stock positions had their worst days in almost a month. The Dow Jones industrial average performed much better, but dropped nearly 0.5% from the previous record. The Nasdaq and S&P 500 were lower during the week from the end of Thursday, while the Dow was higher for the week.
2. Bond market rebels as it adjusts to Fed inflation policy
Federal Reserve Chairman Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill, Washington, USA, on December 1, 2020.
Al Drago | Reuters
The ten-year treasury yield retreated on Friday, one day after hitting a 14.5-month high of 1.754%. Traders have revolted over the willingness of the Federal Reserve to keep the economy and inflation warm as the labor market recovers. Yields barely moved on Wednesday afternoon after the Fed’s meeting closed, initially responding to the forecast for no interest rate hikes until 2023. The rapid rise in yields is driven by concerns that more Covid stimulus on top of an already recovering economy is worrying inflation will cause. The ten-year yield started the year with less than 1%.
3. Nike sales miss estimates; FedEx Revenue Beats
The Nike logo will be seen in the Nike store on February 22, 2021 in New York City.
John Smith | Corbis News | Getty Images
Nike’s inventory fell nearly 2% in the futures market on Friday, the morning after the sports shoe and clothing manufacturer reported fiscal revenue from the third quarter. Sales growth of 2.5% to $ 10.36 billion was hampered by the wide congestion of US ports and the ongoing closure of stores in Europe. Nike also warned about prospects. However, the company exceeded estimates by 14 cents with a third-quarter earnings of 90 cents per share.
Boxes of the Modern COVID-19 vaccine are being prepared for dispatch to the McKesson Distribution Center in Olive Branch, Mississippi, USA December 20, 2020.
Paul Sancya | Reuters
FedEx, part of the Dow Jones average, jumped 5% on Friday’s futures market. The delivery giant reported third-quarter fiscal earnings of $ 3.47 per share after the clock on Thursday, 24 cents better than expected. Revenue rose 23% to $ 21.51 billion, also surpassing estimates. Big holiday sales offset the bad weather in February that hampered operations at several of Fedex’s biggest hubs.
4. CDC says US fired more than 100 million Covid shots
US President Joe Biden talks about the state of vaccinations during a coronavirus (COVID-19) response in the East Room in the White House in Washington, March 18, 2021.
Carlos Barria | Reuters
The CDC’s vaccine tracker, which is updated every night, showed on Friday morning that 115.7 million doses of Covid vaccine had been administered in the US, reaching the first 100 days of shots fired by President Joe Biden in the first 100 days in office. Last week, Biden said he was expected to reach the goal on Day 60. It happened on Day 57. With the progress of vaccinations in the US, the Biden government on Thursday unveiled the outlines of a plan to lend a limited amount of vaccine doses to Canada and Mexico. .
5. The first US-China meeting under Biden begins in a rocky way
US Secretary of State Antony Blinken speaks at the opening of talks between the United States and China at the Captain Cook Hotel in Anchorage, Alaska, on March 18, during the opening of talks between the United States and China in Wang Yi, China ‘s Minister of Foreign Affairs. , 2021.
Frederic J. Brown | AFP | Getty Images
The first high-level meeting of U.S. and Chinese officials under the Biden administration began with a flurry of insults on Thursday during a press conference in Alaska ahead of the meeting. The planned four-minute photo shoot for officials to address reporters eventually lasted one hour and 15 minutes, according to NBC News, due to the frothy exchange of words. Expectations for the two-day talks, which ended on Friday, were already low.
– The Associated Press contributed to this report. Get the latest pandemic information with CNBC’s coronavirus blog.