Below are the most important news, trends and analyzes that investors need to start their trading day:
1. Dow has added to Friday’s gains; bond yields also increase
A trader works on the New York Stock Exchange (NYSE) in Manhattan, New York, USA, on August 19, 2021.
Andrew Kelly | Reuters
Dow futures rose more than 150 points on Monday after the 30-share average broke the three-session losing streak on Friday with a 225-point gain. The S&P 500 and Nasdaq recorded their second consecutive positive days. But Friday’s rally was not enough to pull the three stock benchmarks out of the negative territory for the week. They all hit record highs earlier this month.
Bond yields started the week higher. The ten-year Treasury yield traded at around 1.28% on Monday, ahead of the Federal Reserve’s Jackson Hole economic symposium. The Kansas City Fed announced last week that it will hold its annual meeting of central bankers virtually this year due to the rise in Covid cases. Fed Chairman Jerome Powell’s speech to the group will be broadcast live this Friday.
2. Bitcoin rises one day after surpassing $ 50,000
A visual representation of bitcoin.
STR | NurPhoto via Getty Images
Bitcoin rose more than 3% on Monday, a day after topping $ 50,000 and reaching a three-month high. Bitcoin hit an all-time high of more than $ 64,000 in April, but sold strongly in June and July, even falling briefly below $ 30,000. But since mid-July, bitcoin has risen steadily. The rest of the major digital currencies also rose on Monday, with an ether exchange of more than 5%.
In recent days, two key announcements have been positive for cryptocurrencies. PayPal said Monday it will launch its service this week to allow people to buy, hold and sell digital currencies in the UK Last week, Coinbase said it would buy $ 500 million in cryptocurrencies on its balance sheet and allocate 10% of benefits to a portfolio of cryptographic assets. .
3. According to reports, the FDA is working on the full approval of the Pfizer vaccine
Nurse Mary Ezzat is preparing to administer a Pfizer COVID-19 booster shot to Jessica M. at UCI Medical Center in Orange, California, on Thursday, August 19, 2021.
Jeff Gritchen | MediaNews Group | Orange County Registration via Getty Images
The FDA is working on full approval of the two-shot Covid vaccine manufactured by Pfizer and BioNTech as early as Monday, The New York Times reported, citing sources. The move would make it the first Covid vaccine to go from emergency use authorization to full FDA approval.
U.S. companies have tightened vaccination standards for employees, as Covid cases have risen nationwide in recent weeks due to the rampant delta variant. Some companies cited full FDA approval as part of the decision-making process. The FDA declined to comment on the Times report to CNBC.
4. Vice President Harris says the U.S. focused on evacuations from Afghanistan
UK coalition forces, Turkish coalition forces and US Marines are assisting a child during an evacuation at Hamid Karzai International Airport, Kabul, Afghanistan, in this photo taken on August 20, 2021. Sgt. Victor Mancilla / US Marine Corps / Brochure by REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. TPX IMAGES OF THE DAY
Sergeant. Víctor Mancilla | US Marine Corps via Reuters
The main focus of the United States in Afghanistan right now is to evacuate U.S. citizens, Afghan allies and vulnerable groups, Vice President Kamala Harris said Monday in statements to reporters during a trip to Singapore. The Pentagon has ordered U.S. commercial airlines to provide aircraft to help speed up the process.
The Biden administration is facing growing criticism for its treatment of the U.S. military withdrawal from Afghanistan. Last week, the civilian government collapsed there and the Taliban took power. Thousands of people have flooded Kabul airport in hopes of fleeing. There was a shooting at the airport early Monday.
5. Henry moves to the northeast; Tennessee rain swamp record
Satellite image of Tropical Storm Henri when it arrives in the northeastern United States on August 22, 2021.
NOAA
Henri continued to water parts of the northeast on Monday. The slow-moving system, which touched down as a tropical storm Sunday in Rhode Island, has already thrown 3 to 6 inches of rain. Approximately 1 to 3 inches of additional rainfall is forecast for parts of New England, New York, New Jersey and eastern Pennsylvania.
A car is among the debris that sank against a bridge over a stream on Sunday, August 22, 2021 in Waverly, Tennessee.
Mark Humphrey | AP
At least 22 people were killed and rescue teams searched dozens of people Sunday who are still missing after record rainfall in Tennessee. Floods in rural areas of the state swept away roads and houses, leaving families uncertain as to whether their loved ones survived the unprecedented flood.
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