Here are the top news, trends, and analysis investors need to get their trading day started:
1. Stocks will rise after the Dow and S&P 500 record close
Traders work on the trading floor of the New York Stock Exchange.
2. Bitcoin is taking a breather after rising to over $ 60,000
Bitcoin fell 6% on Monday after jumping to a new all-time high on Saturday – above $ 60,000 this time. The world’s largest cryptocurrency has just doubled this year. It has increased more than 1,000% in the past 12 months. Bitcoin’s market value rose back over $ 1 trillion last week. The incredible rally was driven by increasing adoption by larger institutional investors and corporations, as well as speculative demand.
3. Government bond yields are close to the 1-year high prior to the Fed meeting
While the 10-year government bond yield was actually a bit lower on Monday morning, it was only slightly below its more than a year high of 1.642% on Friday. The rapid surge in yields this year has made traders wonder whether the Federal Reserve is potentially losing control of the direction of interest rates. The Fed’s two-day March meeting kicks off Tuesday with questions about how long near zero interest rates and Covid’s extraordinarily simple monetary policy can last.
4. Biden and Harris sell a $ 1.9 trillion Covid relief plan
President Joe Biden speaks with Vice President Kamala Harris (R) in the Rose Garden of the White House in Washington, DC on March 12, 2021, about America’s bailout plan.
Olivier Douliery | AFP | Getty Images
The Fed is expected to forecast better economic growth after President Joe Biden signed the $ 1.9 trillion fiscal package last week to help Americans, U.S. corporations, and state and local governments cope with the aftermath of the coronavirus Deal with pandemic. Biden and Vice President Kamala Harris headed out this week to sell the Covid stimulus plan, which includes direct payments of up to $ 1,400 to many people.
5. Fauci warns against lifting US restrictions now
The White House Chief Medical Officer for Covid-19, Dr. Anthony Fauci, listens as U.S. President Joe Biden (out of frame) speaks about the 50 million doses of U.S. Covid-19 vaccine given at the Eisenhower executive office building in Washington, DC, Jan. February 2021.
Saul Loeb | AFP | Getty Images
The Chief Medical Officer of the White House, Dr. Anthony Fauci, warns leaders that the nation’s fight against coronavirus is still “not in the end zone”. He urged Americans to abide by public health measures despite the surge in vaccinations, citing new spikes in infections in Europe as a cautionary story of too early relaxation. On Sunday evening, the CDC reported that nearly 37.5 million people in the United States were fully vaccinated – more than 11% of the country’s 330 million or more residents.
– Associated Press and Reuters contributed to this report. Get the latest information on the pandemic on CNBC’s coronavirus blog.