Here are the key news, trends and analyzes that investors need to start their trading day:
1. Dow to rise after Friday’s strong job report
Traders on the New York Stock Exchange.
Source: NYSE
2. Yellen to campaign for the minimum minimum tax on companies
Finance Minister Janet Yellen will attend an economic briefing with US President Joe Biden in the Roosevelt Chamber in the White House in Washington, March 5, 2021.
Tom Brenner | Reuters
Treasury Secretary Janet Yellen will call on Monday morning for a minimum tax on companies around the world in an effort to stop companies from moving to get lower rates. “We are working with the G20 countries to agree on a global minimum tax rate for corporate enterprises that can stop the race to the bottom,” Yellen said at a conference hosted by the Chicago Council on Global Affairs. according to a report by Axios confirmed by CNBC. The remarks come as President Joe Biden wants to raise the US corporate tax rate as a way to pay for a $ 2 billion infrastructure improvement plan.
3. IDP opposition to Biden’s infrastructure plan exists
Sen. Roy Blunt (R-MO) asks questions during a joint hearing of the Senate’s Home Security and Government Affairs and Senate Rules and Administration to discuss the January 6 attack on the US Capitol on March 3, 2021 in Washington, DC.
Greg Nash | Getty Images
Missouri Republican Senator Roy Blunt on Sunday called on the president to cut his infrastructure plan to about $ 615 billion and concentrate on rebuilding physical infrastructure such as roads and bridges. The fourth GOP senator argued on Fox News Sunday that only 30% of Biden’s proposals focus on traditional infrastructure. Blunt said the price reduction would enable the White House to pass the bill through both chambers of Congress. Senate Minority Leader Mitch McConnell, R-Ky., Said last week that the $ 2 trillion package would not receive Republican support.
4. GameStop tanks on stock sales plan; Tesla jumps on record deliveries
A man speaks in front of GameStop in 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
GameStop fell 13% on Monday’s futures market after planning to sell up to 3.5 million shares as the video game trader wants to take advantage of its stockpile following a trading rage from Reddit earlier this year. GameStop said it will use the proceeds to accelerate the shift from its business model to e-commerce. GameStop closed at $ 191 a share on Thursday. It traded at $ 483 at the end of January. Before the Reddit trade took off, the stock started below $ 20 this year.
A Tesla logo on a Model S is photographed at a Tesla dealership in New York.
Lucas Jackson | Reuters
Tesla shares rose more than 7% in the pre-market after the electric carmaker said on Friday that it had delivered nearly 185,000 vehicles in the first quarter. This is a record for the firm led by Elon Musk, and it is more than 168,000 deliveries. All vehicles manufactured during the quarter were Model 3 sedan and SUID model for crossover. Tesla has not produced any more expensive Model S sedan and Model X sports utility vehicle. However, it delivered 2,020 Model S and Model X vehicles out of stock.
5. SU puts J&J in control of the plant that degrades the Covid vaccine
The exterior of the Emergent BioSolutions plant on April 01, 2021 in Baltimore, Maryland. In this Baltimore Lab, 15 million doses of Johnson & Johnson vaccine have been destroyed, which will delay the delivery of the vaccine in the United States.
Tasos Katopodis | Getty Images
The U.S. has put Johnson and Johnson in charge of the Emergent BioSolutions plant that destroyed 15 million doses of the drugmaker’s one-time Covid vaccine, a senior health official said Saturday. The government has also banned AstraZeneca from using the facility. Emerging BioSolutions workers at the plant in question mixed ingredients for the J&J and AstraZeneca vaccines, according to The New York Times. AstraZeneca, whose vaccine has not been approved in the US, said it would work with the Biden government to find an alternative production site.
– Associated Press and Reuters contributed to this report. Get the latest pandemic information with CNBC’s coronavirus blog.