Below are the most important news, trends and analyzes that investors need to start their trading day:
1. Dow retired after five sessions of losses
A trader works on the ground on the New York Stock Exchange on August 27, 2021.
Source: NYSE
2. According to reports, House Democrats would be prepared to propose tax hikes
Samuel Corum | Getty Images News | Getty Images
House Democrats are expected to propose broad tax increases to U.S. businesses, wealthy Americans, and investors to help pay their $ 3.5 trillion budget bill. According to Reuters, the plan calls for a corporate tax increase rate of 26% to 26.5% and an additional 3% tax on individual income in excess of $ 5 million, citing two people familiar with the subject. Democrats are also considering raising the higher rate of capital gains tax to 28.8% from 23.8%. The House returns from the summer recess on September 20th. The Senate returns Monday.
3. The Pfizer Covid vaccine is on track for younger children
A Pfizer-BioNTech Covid-19 vaccine vial is seen at an emerging vaccine clinic in the Arleta neighborhood of Los Angeles, California, on August 23, 2021.
Robyn Beck | AFP | Getty Images
The U.S.-based Pfizer Covid vaccine, developed in conjunction with German partner BioNTech, could be licensed for use in children ages 5 to 11 next month, according to two sources familiar with the situation who spoke with Reuters. Pfizer is expected to have enough study data to file an emergency use application with the FDA. The Pfizer dose shot is already used in emergencies for teens ages 12 to 15 and is approved for people 16 and older.
4. According to reports, Chinese regulators are targeting Ant Group’s Alipay
The headquarters of Ant Group Co. in Hangzhou, China, on Wednesday, January 20, 2021.
Qilai Shen | Bloomberg | Getty Images
Hong Kong-listed Alibaba shares fell more than 4% overnight following a Financial Times report that Beijing wants to break Ant Group’s Alipay and force the creation of a separate loan application . Shares of Alibaba, Ant Group’s e-commerce subsidiary, were also under pressure in Monday’s pre-market. Chinese electric vehicle stocks also fell after the industry minister said there are “too many” electric vehicle manufacturers in China and that it needs to consolidate in the sector. However, the shares of electric vehicle manufacturer Xpeng remained in pre-trade in US markets.
5. Disney plans to release the rest of the 2021 movies only in theaters
Simu Liu is the protagonist of Shang-Chi in Marvel’s “Shang-Chi and the Legend of the Ten Rings.”
Disney
Disney will show the rest of its list of films this year exclusively in theaters, rather than making them available simultaneously on its Disney + streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings”, only in theaters, returned to headline the box office over the weekend after its record debut on Labor Day weekend. “Shang-Chi,” in the Marvel movie universe, has grossed nearly $ 250 million worldwide and has no release date in China yet.
– Reuters and The Associated Press contributed to this report. Follow all the actions of the market as a professional CNBC Pro. Get the news about the pandemic with CNBC coronavirus coverage.