The following is the most important news, trends and analysis that investors need to start their trading day:
1. Dow, S&P 500, Nasdaq added to record highs
Traders work on the floor of the New York Stock Exchange.
NYSE
US futures rose on Tuesday, adding to Friday’s record close for the Dow Jones, S&P 500 and Nasdaq industrial average. The US stock exchange was closed on Monday for Presidents’ Day. The three benchmark stock indices ended higher last week, in a continuation of the February strength. During the year, at the close on Friday, the Dow, the S&P 500 and the Nasdaq rose nearly 2.8%, 4.8% and 9.4%, respectively.
The 30-year Treasury yield remained above 2% early Tuesday, as investors watched advances in the $ 1.9 trillion Covid stimulus package proposed by President Joe Biden on Capitol Hill and the impetus for a wider distribution of coronavirus vaccines in the United States. more than 1.26%.
CVS Health (CVS) reported quarterly earnings of $ 1.30 per share, 6 cents above estimates. Revenue also exceeded Wall Street forecasts, helped in part by Covid-19 testing and vaccines at its pharmacies.
2. Bitcoin hit a new high above $ 50,000
In this photographic illustration, a visual representation of the digital cryptocurrency, Bitcoin is shown in front of the Bitcoin course chart on February 9, 2021 in Paris, France.
Chesnot | Getty Images
Bitcoin hit a new record on Tuesday, surpassing $ 50,000 per unit for the first time, before matching some of those gains. Major companies announced support for digital currencies last week, starting with Tesla, which revealed that it bought bitcoins worth $ 1.5 billion. Mastercard said on Thursday it would support certain cryptocurrencies later this year, while BNY Mellon announced the next day that it would open its custody services to digital assets. Bitcoin quadrupled in 2020 and has risen more than 60% since the beginning of this year.
3. Deep freezing in Texas causes a massive energy crisis
Cattle shelters by the cold wind next to an array of bombs on Saturday, February 13, 2021 in Midland, Texas.
Eli Hartman. | American Odessa | AP
More than 3.8 million homes in Texas are in the dark Tuesday morning as low temperatures increased the demand for thermal power that pushed the state’s power grid to its limits. In Texas, continuous blackouts were imposed, usually on 100-degree summer days. The power shortage was so great that wholesale electricity spot prices on the Texas power grid rose more than 10,000% Monday. U.S. oil prices also rose to a pandemic high of above $ 60 a barrel. The cold weather was part of a massive winter explosion that brought snow, sleet and icy rain to the southern plains, through parts of the Ohio Valley and the northeast.
4. Congress to establish a Capitol riot commission
House Speaker Nancy Pelosi (D-CA) speaks at a news conference with those responsible for the removal of the House on the fifth day of the trial of former US President Donald Trump, accused of inciting to the deadly attack on the U.S. Capitol in Washington USA, February 13, 2021.
Al Drago | Reuters
House Speaker Nancy Pelosi said Monday that Congress will establish an independent 9/11-style commission to examine last month’s deadly insurgency at the U.S. Capitol. Investigations into the riot were already planned, and Senate hearings were scheduled for later this month in the Rules Committee.
Prosecutors who defended Donald Trump’s conviction to incite the attack said Sunday they proved his case. Democrats also mocked Senate Republican Party leader Mitch McConnell and other Republicans, saying they were “trying both ways” to find the former president innocent while criticizing him.
5. Biden will make the first official national trips
President Joe Biden speaks during a meeting with a bipartisan group of governors and mayors about his Covid-19 relief plan at the White House Oval Office in Washington, DC on February 12, 2021.
Mandel Ngan | AFP | Getty Images
Trying to go beyond Trump’s acquittal at last week’s impeachment trial, Biden plans to keep a tight schedule focused on the coronavirus next week. Biden will make his first official national trips under his presidency, starting with a CNN town hall in Wisconsin on Tuesday to speak with Americans affected by the pandemic. Biden on Thursday visits a vaccine facility against Pfizer Covid in Michigan as the two-trigger regime of drug maker and Moderna begin to incur pharmacies across the country.
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