Here are the key news, trends and analyzes that investors need to start their trading day:
1. Nasdaq futures rise with ten-year retrieval by treasury yields
A man walks in front of the Nasdaq building at Times Square on March 10, 2021 in New York.
John Smith | Corbis News | Getty Images
The Nasdaq would continue to build on the nearly 0.8% increase on Monday as the 10-year Treasury yield began to pull back the new week from last week’s 14-month high. The rapid rise in treasury yields this year has put growth stocks, many of which have technological names, under pressure as higher interest rates undermine the value of future profits and hurt market valuations. The Dow Jones industrial average and the S&P 500, which lost ground on Friday, joined the Nasdaq in a negative area last week. The Dow and S&P 500 last closed at record highs on Wednesday, while the Nasdaq last closed at a record high in February.
2. AstraZeneca vaccine is 79% effective in the US trial
A vial labeled with the vaccine against AstraZeneca coronavirus (COVID-19) is shown in this illustration on March 19, 2021.
Dado Ruvic | Reuters
AstraZeneca’s Covid vaccine was 79% effective in preventing symptomatic diseases, according to data published on Monday from a phase-three-hour trial in the US and Latin America. The two-shot vaccine has also been shown to be 100% effective in preventing serious diseases and hospitalization. AstraZeneca plans to file with the FDA in April for authorization for emergency use. The latest trial data is available as a number of European countries have temporarily suspended the use of the AstraZeneca vaccine following reports of blood clots. AstraZeneca said Monday that an independent board has no safety concerns related to the firm’s vaccination.
3. Covid cases increase in 21 states as governors relax restrictions
Walgreens staff are preparing vaccines for educational staff at Kettering City Schools to receive the Covid-19 vaccine as part of the Phase 1B vaccine distribution from Ohio in Dayton, Ohio, on February 10, 2021.
Megan Jelinger | AFP | Getty Images
Although the rate of vaccinations in the US is accelerating, Covid cases are increasing in 21 states, and many contagious variants are spreading as governors relax business restrictions. Public health officials warn that although about 2.5 million people across the country receive shots every day, infection levels have flattened this month. Nationwide, new infections have averaged about 54,000 people over the past seven days. This is a dramatic drop from January’s high. Although deaths are also much lower, an average of 1,000 people have died from Covid in the past seven days.
4. Canadian Pacific Railway to buy Kansas City Southern
A Kansas City (KSC) railroad locomotive will run through Knoche Yard in Kansas City, Missouri on Tuesday, January 7, 2020.
Whitney Curtis | Bloomberg | Getty Images
Canadian Pacific Railway has agreed to buy Kansas City Southern for $ 25 billion in a cash-and-stock deal. The combination would create the first rail network connecting the US, Mexico and Canada. Following Sunday’s announcement, shares of Kansas City Southern rose 17% in the futures market, while shares of the Canadian Pacific Railway fell 2.5%. The deal comes as hopes grow that trade between America and Mexico will increase now that Joe Biden has replaced Donald Trump as president.
5. Cathie Wood’s Ark Invest sees Tesla reach $ 3000 per share by 2025
In this photo illustration, a Tesla logo is seen on a smartphone, with the stock market graph in the background.
Omar Marques | LightRocket | Getty Images
Shares in Tesla rose 4% on Monday’s pre-market after Cathie Wood’s Ark Invest made a long-awaited, daring call and the share of Elon Musk-led electric carmaker would more than quadruple by 2025. Last year, Ark Invest estimated that Tesla would fetch $ 1,400 adjusted for its 5-for-1 share split by 2024. The company now sees that by 2025 the stock will reach $ 20,000 per share in its base business, and in its bull case $ 4,000 per share. According to Wood’s Bear, it will reach another $ 1,500 by 2025. Tesla, which closed at $ 654 a share on Friday, has risen 665% over the past 12 months. However, the share in the past month and year so far has hit a rough wave.
– Reuters contributed to this report. Get the latest pandemic information with CNBC’s coronavirus blog.