Below are the most important news, trends and analyzes that investors need to start their trading day:
1. The shares will be recovered after the sale on Thursday
Traders work on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures bounced back on Friday after Treasury yields skyrocketed tech stocks on Thursday, causing the Nasdaq to fall 3%. The S&P 500, which also has a strong technology weight, fell nearly 1.5% from its previous record close. Both benchmarks had their worst days in almost a month. The Dow Jones Industrial Average performed much better, but fell nearly 0.5% from its previous record close. The Nasdaq and S&P 500, at the close on Thursday, were lower during the week, while the Dow was higher during the week.
2. The bond market rebels as it adjusts to the Fed’s inflation policy
Federal Reserve Chairman Jerome Powell listens during a Senate Banking Committee hearing in Capitol Hill, Washington, USA, on December 1, 2020.
Al Drago | Reuters
The ten-year Treasury yield retreated on Friday, a day after reaching a 14-month high of 1.754%. Traders revolted over the Federal Reserve’s willingness to let the economy and inflation heat up as the labor market recovered. Yields barely moved on Wednesday afternoon after concluding the Fed meeting, which initially responded to the forecast not to raise the rate until 2023. The rapid rise in yields is being driven by concern that a more covid stimulus on an already recovering economy will cause worrying inflation. The ten-year yield started the year with less than 1%.
3. Nike sales are missing estimates; FedEx revenue exceeds
The Nike logo can be seen at the Nike Store on February 22, 2021 in New York City.
John Smith | Corbis News | Getty Images
Shares of Dow Nike fell nearly 2% in the pre-market on Friday, the morning after sportswear and footwear maker reported third-quarter tax revenue that lost estimates. Sales growth of 2.5% to $ 10.36 million was affected by widespread port congestion in the US and the continued closure of stores in Europe. Nike also warned about the prospects. However, the company exceeded estimates by 14 cents, with a third-quarter profit of 90 cents per share.
Boxes containing the Modern COVID-19 vaccine are set to be shipped to the McKesson Distribution Center in Olive Branch, Mississippi, USA on December 20, 2020.
Paul Sancya | Reuters
FedEx, a component of the Dow Jones moving average, jumped 5% in the premarket on Friday. The post-bell delivery giant on Thursday reported third-quarter tax gains of $ 3.47 per share, 24 cents better than expected. Revenue rose 23% to $ 21.51 million, also exceeding estimates. Large holiday sales offset the severe weather in February, which deteriorated operations at several of Fedex’s largest centers.
4. CDC says the U.S. administered more than 100 million shots of Covid
U.S. President Joe Biden talks about the state of vaccinations during a coronavirus disease response event (COVID-19) in the East Room of the White House in Washington on March 18, 2021.
Carlos Barria | Reuters
The CDC’s vaccine tracker, updated every night, showed Friday morning that 115.7 million doses of Covid vaccine have been administered in the United States, reaching President Joe Biden’s initial 100 million shots in the first 100 days. office earlier than expected. Last week, Biden said it hoped to reach the target on the 60th. It happened on the 57th. With vaccination in the United States progressing, the Biden administration on Thursday revealed the outlines of a plan to lend a limited number. of vaccine doses in Canada and Mexico. .
5. The first meeting between the United States and China under the direction of Biden has a rocky beginning
U.S. Secretary of State Antony Blinken speaks before Yang Jiechi, director of the Office of the Central Foreign Commission, and Wang Yi, foreign minister of China, at the opening session of US-China talks at the Captain Cook Hotel in Anchorage, Alaska, on March 18th. , 2021.
Frederic J. Brown | AFP | Getty Images
The first high-level meeting of U.S. and Chinese officials under the Biden administration began with a wave of insults at a pre-meeting press conference in Alaska on Thursday. The four-minute photo shoot scheduled for officials to address reporters ended an hour and 15 minutes due to the foamy exchanges, according to NBC News. Expectations for the two-day talks, which will conclude on Friday, were already low.
– Associated Press contributed to this report. Get the news about the pandemic with CNBC Coronavirus Blog.