Below are the most important news, trends and analyzes that investors need to start their trading day:
1. Stock futures mixed after the Dow, the S&P 500 closed again at record highs
Traders work on the floor of the New York Stock Exchange.
NYSE
2. The Fed digests the weak February retail sales at this week’s meeting
Federal Reserve Chairman Jerome Powell speaks during a Senate Banking Committee hearing in Capitol Hill, Washington, on December 1, 2020.
Al Drago | Swimming pool | Reuters
The Federal Reserve, which begins its two-day March meeting on Tuesday, will look at bond yields and the latest readings on retail sales. The Commerce Department said before the bell that February retail sales fell 3%, a surprisingly weak figure. Estimates had demanded a 0.4% increase. However, the January reading was revised to a higher level of 7.6%, achieving strong wear of the December Covid package. With the Fed’s extraordinarily easy monetary measures during Covid under control, the country’s central bank will release new economic and interest rate forecasts on Wednesday afternoon along with its policy statement.
3. Modern studies the Covid vaccine in children; more countries slow down AstraZeneca
Moderna has started testing its Covid vaccine in children between 6 months and under 12 years old. The mid-to-late phase study intends to enroll about 6,750 children in the United States and Canada. In a separate study, which began in December, Moderna is also testing its vaccine on 12- to 18-year-olds. The two-shot vaccine is already authorized for emergency use in Americans over 18 years of age.
Sweden and Latvia joined a rapidly growing list of European countries on Tuesday that suspended the use of AstraZeneca’s Covid vaccine as health regulators proceed to a new review of its side effects following reports from blood clots. On Monday, Germany, France, Italy and Spain said they would stop administering it. However, the World Health Organization and the European Medicines Regulator have recommended that countries continue to use the AstraZeneca two-shot regime.
4. Regulators investigating a “violent” Tesla accident; Autopilot is not yet ruled out
A driver travels hands-free in a Tesla Motors Inc. vehicle. Model S equipped with autopilot hardware and software in New York.
Christopher Goodney | Bloomberg | Getty Images
The National Highway Traffic Safety Administration is investigating what it calls a “violent” accident with a Tesla sedan and a tractor trailer last week in Detroit. Authorities have not yet said whether the autopilot of the electric car maker, Full Self-Driving or FSD beta may have contributed to the crash. The NHTSA has already undertaken surveys in more than a dozen accidents that were believed to involve Tesla’s advanced driver assistance systems.
5. OxyContin manufacturer Purdue proposes $ 10 billion plan to get out of bankruptcy
OxyContin 80 mg pills.
Liz O. Baylen | Getty Images
OxyContin maker Purdue Pharma is proposing a $ 10 billion plan to get out of bank protection. These efforts would include a significant boost, of more than $ 4 billion, from members of the Sackler family who own the Connecticut-based company. Court documents show that Purdue officials continued to press to keep OxyContin sales, even when it became clear that the drug was being abused. Courts across the country are developing complicated litigation in efforts to blame the pharmaceutical industry for the country’s opioid crisis.
– Reuters and The Associated Press contributed to this report. Get the news about the pandemic with CNBC Coronavirus Blog.