Here are the most important news, trends and analysis investors need to start their trading day:
1. The Dow Jones and S&P 500 set to rise, one day after record close
A Wall Street subway station near the New York Stock Exchange (NYSE) in New York on Monday, January 3, 2022.
Michael Nagle | Bloomberg | Getty Images
US equity futures showed gains at Tuesday’s open, which would add to Wall Street’s lead on the first trading day of the year after a strong 2021. The Dow Jones Industrial Average and the S&P 500 each rose 0.6% on Monday, closing at record highs. The Nasdaq gained 1.2%, but remained at 1.4% from its last high in November. Bond yields surged early in the year, with the 10-year Treasury yield surpassing 1.6% and continuing to rise early on Tuesday.
- Apple’s pre-market gain would once again place it above the market cap of $ 3 trillion. The tech giant became the first U.S. company to do so during Monday’s session. But he just missed the close above that level.
- At 10 a.m. ET, the Department of Labor is expected to release its latest survey of job vacancies and workforce turnover. JOLTS is expected to post 11.1 million vacancies at the end of November.
2. United States Reports Over One Million New Covid Cases Daily As Omicron Rises
Merline Jimenez (L) administers a COVID-19 nasopharyngeal swab to a person at a testing site in the international terminal at Los Angeles International Airport (LAX) amid an increase in cases of omicron variants on December 21 2021 in Los Angeles, California.
Mario Tama | Getty Images
The United States reported a record number of new cases of Covid on Monday, with more than one million new infections, according to data compiled by Johns Hopkins University. The single-day record total may be due in part to delayed reporting from the holiday weekend. President Joe Biden is due to meet with the White House Covid Response Team on Tuesday as the highly infectious variant of omicron sweeps across the country. The cumulative number of confirmed cases in the United States since the start of the pandemic reached 56,191,733 as of early Tuesday, with a total of 827,749 Covid deaths in the United States
3. FDA Expands Eligibility for Pfizer Boosters to Children 12-15 Years of Age
A health worker prepares to administer a dose of Pfizer covid-19 vaccine to a girl at the Sanford Civic Center. With the emergence of the Omicron covid-19 variant in many countries, including the United States, the U.S. Centers for Disease Control (CDC) has encouraged all vaccinated adults to receive their Covid-19 booster.
Paul Hennessy | LightRocket | Getty Images
The Food and Drug Administration on Monday extended eligibility for Pfizer and BioNTech booster shots to children 12 to 15 years old. The Centers for Disease Control and Prevention has yet to sign. The CDC’s expert advisory group will meet on Wednesday. Also on Monday, the FDA shortened the time between the second dose of Pfizer and the booster to five months, from six months previously. The agency has authorized a third dose of the vaccine as part of the first round of vaccines for children aged 5 to 11 with weakened immune systems.
4. Biden’s disapproval hits new high, new TBEN / Change poll shows
US President Joe Biden speaks in a video conference with farmers, ranchers and meat processors to discuss issues in the meat and poultry supply chain, from an auditorium on the White House campus in Washington, January 3, 2022.
Jonathan Ernst | Reuters
Biden’s overall disapproval rating reached a new high in December as more voters signaled their dissatisfaction with his handling of the economy and the Covid pandemic. The results of a TBEN / Change Research poll show that 60% of those polled said they disapproved of Biden’s handling of the economy as he neared the end of his first year in office. The majority of survey respondents, 55%, also reported disapproval of his leadership during the pandemic, an area in which he had previously excelled.
5. Jury finds founder of Theranos guilty of multiple charges
Elizabeth Holmes leaves the courthouse accompanied by her partner, Billy Evans, and her parents after the jury requested a note on Day 7 of the jury’s deliberations in her fraud trial in San Jose, Calif., Jan. 3, 2022.
Nick Otto | TBEN | Getty Images
Theranos founder Elizabeth Holmes, a former billionaire and Silicon Valley sweetheart who promised revolutionary blood testing technology, has been found guilty on four of 11 counts in her criminal fraud trial. The jury of eight men and four women was seized of the case in mid-December after three months of proceedings and the testimony of 32 witnesses. The deliberations lasted more than 50 hours over seven days. Holmes faces up to 20 years in prison. Theranos disbanded in 2018 following civil and criminal investigations. Holmes was charged that year, following a series of damning articles in the Wall Street Journal.
– Follow all market actions like a pro on TBEN Pro. Get the latest pandemic news with TBEN’s coronavirus coverage.