Here are the key news, trends and analyzes that investors need to start their trading day:
1. Stock futures mixed after Dow, S&P 500 closed again at record highs
Traders work on the floor of the New York Stock Exchange.
NYSE
2. Fed Will Poorly Consume This Week’s Retail Sales in February
Federal Reserve Chairman Jerome Powell speaks at a hearing of the Senate Banking Committee on Capitol Hill, Washington, December 1, 2020.
Al Drago | Swimming Pool | Reuters
The Federal Reserve, which begins its two-day meeting on Tuesday, will monitor the yields of the bonds and the latest lecture on retail sales. The Department of Commerce said before the clock that retail sales fell by 3% in February, a surprisingly weak number. The estimates called for an increase of 0.4%. However, the reading in January was revised higher to a strong 7.6%, which received a blow from the December Covid package. With the Fed’s extraordinarily easy monetary measures under investigation under Covid, the country’s central bank will announce new economic and interest rate forecasts on Wednesday afternoon along with its policy statement.
3. Modern studies Covid vaccine in children; more countries stop AstraZeneca
Moderna has started testing its Covid vaccine in children from 6 months to less than 12 years old. The mid-to-late-stage study plans to enroll approximately 6,750 children in the U.S. and Canada. In a separate study, which began in December, Moderna is also testing its vaccine in adolescents between the ages of 12 and 18. The two-shot vaccine has already been approved for emergency use by Americans 18 and older.
Sweden and Latvia on Tuesday joined a fast-growing list of European countries suspending the use of AstraZeneca’s Covid vaccine as health regulators conduct a new review of its side effects following reports of blood clots. Germany, France, Italy and Spain said on Monday that they would all stop administering it. However, the World Health Organization and the European Medicines Regulator have recommended that countries continue to use AstraZeneca’s two-shot regimen.
4. Regulators investigating ‘violent’ Tesla crash; Autopilot is not yet excluded
A driver drives hands-free in a Model S vehicle from Tesla Motors Inc. with autopilot hardware and software in New York.
Christopher Goodney | Bloomberg | Getty Images
The National Road Safety Administration is investigating a “violent” accident with a Tesla sedan and a tractor trailer in Detroit. Authorities have not yet said whether the autopilot, full self-driving or FSD beta of the electric car may have contributed to the crash. The NHTSA has previously conducted investigations into more than a dozen accidents that are believed to involve Tesla’s advanced driver assistance systems.
5. OxyContin maker Purdue proposes $ 10 billion plan to end bankruptcy
OxyContin 80 mg pill.
Liz O. Baylen | Getty Images
OxyContin manufacturer Purdue Pharma proposes a $ 10 billion plan to get out of bankruptcy protection. These efforts would include a significant boost, more than $ 4 billion, from members of the Sackler family who own the company in Connecticut. In the court documents, it appears that Purdue officials have continued to maintain OxyContin’s sales, even though it is becoming clear that the drug is being abused. Complicated litigation is taking place in courts across the country in attempts to hold the pharmaceutical industry responsible for the country’s opioid crisis.
– Reuters and The Associated Press contributed to this report. Get the latest pandemic information with CNBC’s coronavirus blog.