Here are the key news, trends and analyzes that investors need to start their trading day:
1. Dow, S&P 500, Nasdaq will rise to record highs
Traders work on the floor of the New York Stock Exchange.
NYSE
US equities rose on Tuesday, contributing to Friday’s record highs for the Dow Jones Industrial Average, S&P 500 and Nasdaq. The US stock market was closed for Presidents Day on Monday. All three stock positions ended higher last week, continuing the strength of February. With the close on Friday, the Dow, S&P 500 and Nasdaq rose by almost 2.8%, 4.8% and 9.4% for the year.
The 30-year treasury yield rose above 2% early Tuesday as investors watched progress with President Joe Biden’s proposed $ 1.9 billion Covid stimulus package on Capitol Hill and the pursuit of greater spread of coronavirus vaccines in the USA. more than 1.26%.
CVS Health (CVS) reported quarterly earnings of $ 1.30 per share, 6 cents above estimate. Revenue was also above the forecasts of Wall Street, which was helped in part by Covid-19 testing and vaccinations at its pharmacies.
2. Bitcoin reached a new high of more than $ 50,000
In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is displayed in front of the Bitcoin exchange rate chart on 09 February 2021 in Paris, France.
Chesnot | Getty Images
Bitcoin reached a new record high on Tuesday, reaching more than $ 50,000 per unit for the first time ever, before comparing some of the gains. Major companies announced support for digital currencies last week, and Tesla revealed that it bought $ 1.5 billion worth of bitcoin. Mastercard said on Thursday that it would support certain cryptocurrencies later this year, while BNY Mellon announced the next day that it would open its digital asset preservation services. Bitcoin more than quadrupled in 2020 and has risen by more than 60% since the beginning of this year.
Freezing in Texas causes massive energy crunch
Cattle shelter from the cold wind on the side of a pump power series on Saturday, February 13, 2021 in Midland, Texas.
Eli Hartman. | Odessa American | AP
More than 3.8 million households in Texas are dark on Tuesday morning as record low temperatures increased the demand for power for heat that pushed the state’s electrical grid to its extreme. Rolling gear typically seen at 100 degree summer days has been introduced in Texas. The power shortage was so great that the spot prices of wholesale electricity in the Texas power grid rose by more than 10,000% on Monday. US oil prices also climbed to a pandemic high of more than $ 60 a barrel. The icy weather was part of a huge winter explosion that brought snow, sleet and ice rain to the southern plains, across parts of the Ohio Valley and the northeast.
4. Congress to set up a riot commission of Capitol
House Speaker Nancy Pelosi (D-CA) is speaking at a news conference with House of Representatives executives on the fifth day of the trial of former US President Donald Trump on charges of inciting the deadly attack on the US Capitol, Washington, USA, February 13, 2021.
Al Drago | Reuters
House Speaker Nancy Pelosi said Monday that Congress will set up a 9/11-style independent commission to investigate the deadly uprising of the U.S. Capitol last month. Investigation into the riot was already planned, with hearings from the Senate scheduled for later this month in the Rules Committee.
Prosecutors of the House of Commons, who argued that Donald Trump was found guilty of inciting the attack, said Sunday they were proving their case. Democrats also lashed out at Senate GOP leader Mitch McConnell and other Republicans, saying they were “trying to do both” to acquit the former president while criticizing him.
5. Biden takes first official domestic trips
During a meeting with a two-member group of governors and mayors, President Joe Biden will discuss his Covid-19 relief plan at the Oval Office of the White House in Washington, DC on February 12, 2021.
Mandel Ngan | AFP | Getty Images
Biden is trying to go beyond Trump’s acquittal in last week’s indictment, and Biden plans to hold a busy program on the coronavirus next week. Biden is set to embark on his first official domestic tour of his presidency, starting with a CNN City Hall in Wisconsin to speak Tuesday with Americans affected by the pandemic. Biden is visiting a Pfizer Covid vaccination facility in Michigan on Thursday as the drugmaker’s two – shot regime and Moderna make more inroads at pharmacies across the country.
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