5 things to know before the stock market opens on March 8, 2021

Below are the most important news, trends and analyzes that investors need to start their trading day:

Futures on U.S. stocks were mostly lower on Monday, with a sharp fall on the Nasdaq and tech names indicated they would begin the new week after Friday’s big change. Tesla threw another 2% into the premarket after closing below $ 600 a share on Friday for the first time since early December. The shares have lost a third of their value since their all-time intraday at the end of January.

The Dow Jones Industrial Average, S&P 500 and Nasdaq on Friday broke three-session losing streak, with strong gains. During the week, the Dow and S&P 500 gained 1.8% and 0.8%, respectively. However, the Nasdaq fell 2% last week. The Dow and S&P 500 rose nearly 3% and 2.3%, respectively, since the beginning of the year. The Nasdaq was just above balance before Monday’s opening.

Senate approval of the $ 1.9 trillion Covid relief bill on Saturday was not enough to put the shares on green Monday, as greater economic stimulus topped an already recovering economy continued to raise concerns about inflation. This boosts bond yields on Monday, with the ten-year Treasury yield trading around 1.6%, shy of Friday’s one-year high. The ten-year yield has risen rapidly since late January, adding up to more than 0.5% in just over a month.

The Democratic House of Commons intends to approve the Senate-approved Covid stimulus package on Tuesday and then send President Joe Biden his signature. The bill passed Saturday in the Senate comes with a smaller increase and commitment to federal unemployment benefits and no increase in the federal minimum wage. The legislation includes direct payments of up to $ 1,400 to most Americans, which Biden said could start coming out in two weeks on Saturday.

Disney shares rose more than 1% in pre-market trading on Monday after California officials on Friday authorized theme parks to open with reduced capacity on April 1st. They closed almost a year ago due to the pandemic. The order includes Disneyland in the southern part of the state, Comcast’s Hollywood Universal Studios and others. Disney World in Florida and Universal Studios Orlando opened with capacity limits during the summer. Shares of Comcast, parent company of NBCUniversal and CNBC, fell to the pre-market.

Shares of GameStop rose about 12% in the pre-market on Monday after Bloomberg reported that the company took advantage of board member Ryan Cohen to guide the video game retailer’s transition to an e-commerce business. Cohen, a major GameStop investor and founder of online pet retailer Chewy, will lead a working group on digital change.

General Electric is nearing a more than $ 30 billion deal to combine its aircraft rental business with AerCap Holdings of Ireland, according to the Wall Street Journal. GE Capital Aviation Services is one of the world’s largest aircraft rental and passenger aircraft leasing companies manufactured by companies such as Boeing and Airbus. Shares of GE rose about 2.5% in Monday’s premarket.

Brent crude, the international benchmark for oil, rose above $ 70 a barrel on Monday for the first time in more than a year. The increase came after Saudi Arabia said Sunday that its Saudi Aramco facilities were targeted by missiles and drones. The Youthi movement, aligned with Iran, claimed responsibility for the attack. West Texas Intermediate crude, the U.S. benchmark, also rose and traded above $ 66 in nearly two years.

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