Below are the most important news, trends and analyzes that investors need to start their trading day:
1. The shares will recover after Tuesday’s broad sale
People are seen on Wall St., outside the New York Stock Exchange (NYSE) in New York City, on March 19, 2021.
Brendan McDermid | Reuters
2. Yellen, Powell established the second day of economic testimony
Federal Reserve Chair Janet Yellen (L) congratulates Fed Governor Jerome Powell on his swearing-in ceremony for a new term on the Fed’s board of directors in Washington in this photo. ‘made and published on June 16, 2014.
US Federal Reserve | Reuters
Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are due to deliver a second day of economic testimony to lawmakers, as required by the March 2020 Covid Relief Act in March 2020. They will appear remotely before the Senate Banking Committee at 10 a.m. ET. On Tuesday they told the House Financial Services Committee that high valuations of assets in the pockets of markets are still no cause for alarm. Yellen and Powell also said they are confident in the stability of the financial sector, as the U.S. economy continues to recover from the pandemic.
3. GameStop sinks after recognizing possible stock sale
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
Shares of GameStop fell 12% in the pre-market on Wednesday after the company acknowledged in a filing that it was considering selling additional capital shares. Shares soared more than 2,400% in the commercial frenzy generated by Reddit in January before falling. He returned in late February and early this month in hopes of a digital transformation. However, stocks in recent days fell. After Tuesday’s close, GameStop lost the top and bottom lines with quarterly results. But it did see e-commerce sales rise 175% during the quarter. The company also named former Amazon and Google executive Jenna Owens as its new chief operating officer.
4. Intel will build new chip plants; Amazon appoints a new cloud head
Pat Gelsinger, CEO of Intel, speaks in Santa Monica, California on March 9, 2017, in a photo taken when he was CEO of VMware.
Patrick T. Fallon | Bloomberg | Getty Images
Shares of Dow Intel rose about 4% in premarket trading after the company invested $ 20 billion Tuesday night in building two new semiconductor factories in Arizona. The announcement, coinciding with the first public statements from new CEO Pat Gelsinger since he took office, indicates that Intel will continue to focus on manufacturing during industrial changes that have led competitors to design and manufacture more and more chips. separate.
Andy Jassy, CEO of Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, California, on October 25, 2016.
Mike Blake | Reuters
Incoming Amazon CEO Andy Jassy, head of the company’s cloud business for the past 15 years, revealed his successor to Amazon Web Services in a note to employees. Adam Selipsky, a former Amazon executive and currently CEO of Salesforce-owned data visualization software maker Tableau, was chosen to lead the AWS division.
5. Elon Musk says people can now buy a Tesla with bitcoin
Tesla, led by Elon Musk, confirmed that it bought about $ 1.5 billion in bitcoins in January and hopes to begin accepting it as payment in the future.
Artur Widak NurPhoto | Getty Images
Elon Musk announced Tuesday afternoon that it is now possible to buy Tesla vehicles in the U.S. with bitcoin. “Now you can buy a Tesla with Bitcoin,” he tweeted to CEO Musk, who also officially became Tesla’s “Technoking” this month. People outside the United States will be able to buy a Tesla with bitcoin “later this year,” Musk said, without specifying which countries. The electric car maker in February revealed that it bought Bitcoin worth $ 1.5 billion. At the time, Tesla said it would soon begin accepting the world’s largest and most popular cryptocurrency as a form of payment.
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