Below are the most important news, trends and analyzes that investors need to start their trading day:
1. Dow will rise after strong report on Friday
Traders on the New York Stock Exchange.
Source: NYSE
2. Yellen will push for global minimum corporate tax
Treasury Secretary Janet Yellen is attending an economic briefing with U.S. President Joe Biden in the Roosevelt Room of the White House in Washington on March 5, 2021.
Tom Brenner | Reuters
Treasury Secretary Janet Yellen will call for a minimum tax on companies around the world on Monday morning in an effort to prevent companies from moving to find lower rates. “We are working with G20 countries to agree on a global minimum corporate tax rate that can stop the race to the bottom,” Yellen said at a conference of the Chicago Council on Global Affairs, according to a report by ‘Axios confirmed by CNBC. The statements come as President Joe Biden seeks to raise the U.S. corporate tax rate as a way to pay a $ 2 trillion infrastructure improvement plan.
3. The opposition of the Republican Party to the Biden infrastructure plan is aligned
Senator Roy Blunt (R-MO) asks questions during a joint National Security and Government Affairs and Senate Rules and Administration hearing to discuss the January 6 attack on the U.S. Capitol on March 3, 2021 in Washington, DC.
Greg Nash | Getty Images
Republican Sen. Roy Blunt of Missouri on Sunday urged the president to reduce his infrastructure plan to about $ 615 billion and focus on rebuilding physical infrastructure such as roads and bridges. The fourth GOP senator argued on “Fox News Sunday” that only 30% of Biden’s proposal focuses on traditional infrastructure. Blunt said the price reduction would allow the White House to pass the bill through both houses of Congress. Senate Minority Leader Mitch McConnell, R-Ky., Said last week that the $ 2 trillion package would not receive Republican support.
4. GameStop tanks in stock sale plan; Tesla jumps on record deliveries
A man speaks on his phone in front of GameStop on 6th Avenue on February 25, 2021 in New York City.
John Smith | Corbis News | Getty Images
GameStop fell 13% in the pre-market on Monday after announcing plans to sell up to 3.5 million shares, as video game retailer wants to take advantage of its stock rise after a trading frenzy negotiated by Reddit earlier this year. GameStop said it would use the revenue to accelerate the shift from its business model to e-commerce. GameStop closed Thursday at $ 191 per share. It traded up to $ 483 at the end of January. Before Reddit trading took advantage, stocks started the year with less than $ 20.
A Tesla logo on an S model is photographed inside a New York Tesla dealership.
Lucas Jackson | Reuters
Shares of Tesla jumped more than 7% in the pre-market after the electric car maker said on Friday it delivered about 185,000 vehicles during the first quarter. This is a record for the company led by Elon Musk and exceeds estimates of 168,000 deliveries. All vehicles produced during the quarter were Model 3 sedans and Model Y crossover SUVs. Tesla did not produce any of its more expensive Model S sedans and Model X SUVs. However, it delivered 2,020 Model S and Model X vehicles from the inventory.
5. The United States puts J&J at the helm of the plant that eliminated the Covid vaccine
Exterior view of the Emergent BioSolutions plant on April 1, 2021 in Baltimore, Maryland. In this Baltimore lab, 15 million doses of Johnson & Johnson vaccine were ruined, which will delay vaccine shipments to the United States.
Tasos Katopodis | Getty Images
The United States put Johnson & Johnson at the helm of the Emergent BioSolutions plant that ruined 15 million doses of the drug maker’s one-time Covid vaccine, a senior health official said Saturday. The government also banned AstraZeneca from using the facility. Emerging BioSolutions workers at the plant in question mixed ingredients for the J&J and AstraZeneca vaccines, according to the New York Times. AstraZeneca, whose vaccine has not been approved in the United States, said it will work with the Biden administration to find an alternative production site.
– Associated Press and Reuters contributed to this report. Get the news about the pandemic with CNBC Coronavirus Blog.