5 things to know before the stock market starts on March 8, 2021

Here are the key news, trends and analyzes that investors need to start their trading day:

The U.S. stock market was mostly lower on Monday, with a sharp drop in Nasdaq and technology names set to begin the new week after Friday’s big turnaround. For the first time since early December, Tesla lost another 2% in the futures market after closing below $ 600 a share on Friday. The stock has lost a third of its value since its intraday high in late January.

The Dow Jones industrial average, S&P 500 and Nasdaq, lost three sessions on Friday, with strong progress. For the week, the Dow and S&P 500 rose 1.8% and 0.8% respectively. However, the Nasdaq fell 2% last week. The Dow and S&P 500 have risen 3% and 2.3% respectively since the beginning of the year. The Nasdaq was just above the break-even point ahead of Monday’s open.

The Senate’s approval of the $ 1.9 billion Covid relief bill on Saturday was not enough to put shares in the green Monday, as more economic stimulus on top of an already recovering economy continued to cause inflation problems. It pushes the yield on bonds higher on Monday, with the ten-year treasury yield trading around 1.6%, which is shy of Friday’s one-year high. The ten-year yield has risen rapidly since the end of January, adding more than 0.5% in just over a month.

The Democratic House plans to pass the Senate-approved Covid stimulus package on Tuesday and then send President Joe Biden for his signature. The bill passed by the Senate on Saturday comes with a smaller, compromising federal unemployment benefit and without a federal minimum wage increase. The legislation includes direct payments of up to $ 1,400 to most Americans, which, according to Biden, could begin going out within two weeks on Saturday.

Shares of Disney rose more than 1% in trading on the first market on Monday, after officials in California cleared theme parks on Friday, April 1 to open at lower capacity. They closed almost a year ago due to the pandemic. The order includes Disneyland in the southern part of the state, Comcast’s Universal Studios Hollywood and others. Disney World in Florida and Universal Studios Orlando opened during the summer with capacity limitations. Shares of Comcast, parent company of NBCUniversal and CNBC, fell in the futures market.

Shares in GameStop rose about 12% in Monday’s pre-market after Bloomberg reported that board member Ryan Cohen had stepped in to lead the transition to an e-commerce business of the video game. Cohen, a major GameStop investor and founder of online pet retailer Chewy, will lead a digital change advisory team.

General Electric is approaching a deal worth more than $ 30 billion to combine its aircraft rental business with AerCap Holdings in Ireland, according to The Wall Street Journal. GE Capital Aviation Services is one of the world’s largest aircraft rental companies and leases passenger aircraft manufactured by Boeing and Airbus, among others. Shares in GE rose 2.5% in Monday’s futures market.

Brent crude, the international oil benchmark, rose above $ 70 a barrel on Monday for the first time in more than a year. The boom came after Saudi Arabia said on Sunday that its Saudi-Aramco facilities were being targeted by missiles and drones. The Jouth-Houthi movement, which is in line with Iran, has claimed responsibility for the attack. West Texas Intermediate Crude Oil, the U.S. benchmark, also moved higher, trading above $ 66 in nearly two years.

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