Here are the top news, trends, and analysis investors need to start their trading day:
Traders on the NYSE floor
the Dow is set so that the week starts where it left off. The 30-stock average closed on another record Friday and that too S&P 500 and the Nasdaq, according to a better-than-expected job report in October. All three benchmarks posted solid gains in the first week of November. Shares in pre-market trading got a boost out of the house late Friday Passing over $ 1 trillion in infrastructure bill, Sending the law to the president Joe Biden for his signature. House Democrats planned on Friday to pass both the infrastructure bill and the $ 1.75 trillion social safety net and party’s climate package. A handful of centrists’ request for the Congressional Budget Office’s estimate of the budgetary effects of the larger bill delayed its approval.
In 2021, Bitcoin and Ether saw huge rallies. In April 2021, the cryptocurrency market topped $ 2 trillion for the first time.
Jaap Arriens | NurPhoto | Getty Images
ether, the second largest digital coin in the world, rose more than 4% in 24 hours on Monday to hit a new all-time high of over $ 4,700. Bitcoin, the largest crypto, climbed 5% to $ 66,250, Step back towards its record high over $ 66,900, discontinued in late October. The reason for the move was not clear. Cryptocurrencies are known for their volatile fluctuations in price, with movements of up to 20% up or down being relatively common. Ethereum, the blockchain that Ether runs on, is undergoing a major upgrade that investors hope will make the network faster and greener.
Elon Musk, CEO of Tesla, stands in the foundry of the Tesla Gigafactory during a press event.
Patrick Pleul | Image Alliance | Getty Images
Shares in Tesla – more than 70% in the year to date and almost 180% in the last 12 months – fell 5% in the premarket on Monday. Tesla’s market value would still be well over $ 1 trillion if its stock opened roughly where it is in the pre-IPO. In one Twitter Poll Saturday, Tesla CEO Elon Musk proposed selling 10% of its stake in the electric car maker.
More than 3.5 million people answered and almost 58% of them voted “yes”. Musk said he would “stick to the results of this poll no matter which way it goes”. However, Faced with a $ 15 billion tax bill In the coming months on stock options, a Musk sale of Tesla stock is likely this year regardless of Twitter’s vote.
Regeneron Pharma called Monday a single dose of his antibody cocktail In a late-stage study, the risk of developing Covid was reduced by 81.6% in the two to eight months after administration. During the eight-month evaluation period, there were no Covid hospital admissions in the drug group and six in the placebo group. Regeneron’s shares rose around 2% in pre-trading.
General surgeon Vivek Murthy told ABCs “This Week” On Sunday, Biden’s government stands ready to defend its “reasonable and necessary” Covid vaccine and testing requirements for private companies. A federal appeals court on Saturday locked temporarily the upcoming mandate. The White House has until Monday evening to respond.
The USA Restrictions lifted Monday to travel from a long list of countries including Mexico, Canada and most of Europe. Travelers must provide proof of vaccination and a negative Covid test. The rules allow tourists to go on long-delayed trips and family members to reconnect with loved ones after being separated for more than a year and a half due to the pandemic.