Here are the most important news, trends and analysis that investors need to start their trading day:
1. S&P futures rise after index closes at another record high
The Wall Street sign is seen outside the New York Stock Exchange (NYSE) in New York City on February 16, 2021.
Brendan McDermid | Reuters
2. Weekly jobless claims are expected to decline
A woman walks past a store on February 22, 2021 in New York City.
John Smith | Corbis News | Getty Images
The Department of Labor is expected to release its weekly jobless claims report at 8:30 a.m. ET, one hour before the Wall Street opening bell. Economists expect 694,000 new unemployment benefit filings last week. It would be 25,000 less than the previous week. While these numbers remain disproportionately high from pre-pandemic records, they continue to decline as the economy increasingly reopens and the United States administers 3 million Covid vaccines per day.
3. Biden to Unveil Gun Stocks, Including New ATF Director
President Joe Biden speaks at a U.S. Jobs Plan event in the South Court auditorium on the White House campus on Wednesday, April 7, 2021, in Washington.
Evan Vucci | TBEN
President Joe Biden is expected to unveil a series of management actions to tackle gun violence on Thursday after a series of mass shootings. While taking his first major steps to crack down on guns since taking office, the president is also expected to appoint gun control lawyer and former federal agent David Chipman as director of the ATF, according to de senior officials of the Biden administration. Those officials said the Justice Department would issue a proposed new rule requiring buyers of homemade firearms – often made from spare parts and without serial numbers – to submit to background checks.
4. Biden is open to negotiating a corporate tax hike
Workers use a front loader as they repair infrastructure on April 7, 2021 in San Francisco, California.
Justin Sullivan | Getty Images
Biden said on Wednesday he was ready to negotiate a proposal to raise the corporate tax rate to 28% to help pay for his more than $ 2 trillion infrastructure plan. “I am ready to listen,” said the president. However, Biden is facing pressure from Democratic Senator Joe Manchin, who has previously spoken out against a 28% corporate rate. In a 50-50 Senate, Manchin’s vote could make all the difference. The West Virginia lawmaker said Wednesday he opposes a process that makes it easier to pass bills without the support of Republicans.
5. Amazon Alabama Union Campaign Records 55% Turnout
People demonstrate in support of the organizing efforts of Alabama Amazon workers in Los Angeles, California on March 22, 2021.
Lucy Nicholson | Reuters
The count in a high-stakes vote on whether to unionize one of Amazon’s warehouses in Alabama could begin as early as Thursday. Over 3,200 votes were cast, representing a turnout of around 55%, which is higher than the Retail, Wholesale and Department Stores Union initially estimated. The vote in Bessemer has been closely watched inside and outside Amazon, as it could create the first union in one of the e-commerce giant’s warehouses in the United States. Amazon workers in many European countries are already unionized.
– The The Bharat Express News and Reuters contributed to this report. Follow all the market action like a pro on TBEN Pro. Get the latest pandemic news with TBEN Coronavirus Blog.