5 things to know before the stock market opens Wednesday, March 31

Here are the top news, trends, and analysis investors need to get their trading day started:

1. Shares open mixed after Dow fell from record high

Traders work on the trading floor of the New York Stock Exchange.

NYSE

US stock futures were mixed on Wednesday, the day after the Dow Jones Industrial Average fell 0.3%. The S&P 500 and Nasdaq also fell slightly as technology stocks came under pressure after 10-year government bond yields hit a fresh 14-month high of 1.776% on Tuesday.

On the way to the last day of March, the Dow and S&P 500 posted solid gains for the month and throughout the first quarter. The Nasdaq posted a loss in March but a modest quarterly gain. The 10-year government bond yield rose 18% in March and 88% in the quarter.

2. 10-year yield on government bonds according to ADP report on private jobs

ADP LLC signage appears when job seekers stand in line during TechFair LA job fair in Los Angeles, California.

Patrick T. Fallon | Bloomberg | Getty Images

The 10-year Treasury yield fell but was around 1.72% on Wednesday morning after the ADP’s monthly look at US corporate employment trends showed that 517,000 jobs were added in March. While slightly below estimates, it was the fastest pace since September and well above the disappointing 176,000 in February.

Lately, the ADP report hasn’t been a good indicator of what the government’s monthly employment data might be showing. The job report for March is to be published on Friday despite the closing of the stock exchange on Good Friday.

3. Pfizer says the Covid vaccine is 100% effective in children ages 12-15

People walk in front of the Pfizer sign at Pfizer headquarters on March 23, 2021 in New York. The Food and Drug Administration (FDA) says Pfizer’s coronavirus vaccine can be stored in regular freezers for two weeks rather than in ultra-cold temperatures.

VIEW press | Corbis News | Getty Images

Pfizer said Wednesday a new study shows its coronavirus vaccine is 100% effective in adolescents ages 12-15. The US drug giant, which developed the two-shot regime in collaboration with German BioNTech, plans to submit the new data to the FDA “as” as soon as possible, “said CEO Albert Bourla in a statement. Children in this Age group could be eligible for the vaccine before the new school year in the fall.

Pfizer’s vaccine has already been approved for use in the United States in an emergency for people aged 16 and over. The other two Covid vaccines approved in the US, Moderna’s two-shot vaccine and Johnson & Johnson’s one-shot vaccine, have been approved for at least 18 years.

4. Biden will unveil its $ 2 trillion infrastructure plan

President Joe Biden speaks with Vice President Kamala Harris after meeting his Covid-19 Response Team at the White House on March 29, 2021.

Jonathan Ernst | Reuters

President Joe Biden will unveil an infrastructure and economic recovery package worth more than $ 2 trillion on Wednesday. The plan aims to revitalize US transportation infrastructure, water systems, broadband networks and manufacturing, among other things. A rise in the corporate tax rate to 28% and measures to prevent profits from being offshored will fund the spending, according to the White House. Biden hopes the package will create manufacturing jobs and save the flawed American infrastructure as the country tries to get out of the shadow of Covid.

5. The case of compensation for university athletes will be heard by the Supreme Court

A general view of the March Madness logo before the game between Syracuse Orange and Houston Cougars in the Sweet Sixteen of the 2021 NCAA tournament at Hinkle Fieldhouse.

Aaron Doster | USA TODAY Sports | Reuters

The Supreme Court will hear arguments from the National Collegiate Athletic Association on Wednesday to determine whether the organization can limit educational benefits for college athletes. With the NCAA men’s and women’s basketball tournaments in mind, there is a wider debate about athlete compensation. Some March Madness games players have attempted to pressurize the NCAA using the hashtag #NotNCAAProperty.

– Get the latest on the pandemic using CNBC’s coronavirus blog.

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