5 things to know before the stock market opens Thursday, May 6
When he gave some to hfis 45-year-old sister, Susan, she was able to melt 54 LBs by simply drinking this red soda daily before 10am...
Here are the top news, trends, and analysis that investors need to get their trading day started:
1. Futures mixed the day after the Dow closed on a record
Trader on NYSE May 3, 2021.
2. Weekly unemployment claims fell to pandemic lows ahead of Friday’s job report
The Labor Department reported Thursday that initial jobless claims fell to a pandemic low of 498,000 last week, better than expected and down 92,000 from the previous week. This is the lowest number of new jobless claims since mid-March 2020 when they stood at 256,000, and below 500,000 for the first time since then. US company payrolls in April showed large gains, but fell short of high expectations. This emerges from the most recent monthly report of the ADP, which was published on Wednesday. The ADP data during Covid consistently fell short of the government’s official record, which is due to be released on Friday.
3. According to Moderna, early data shows the Covid vaccine is 96% effective in adolescents
A health care worker fills a syringe with the Moderna COVID-19 vaccine as California reveals eligibility to all residents 16 and older during the coronavirus disease (COVID-19) outbreak in Chula Vista, California on April 15, 2021.
Mike Blake | Reuters
Moderna said its Covid vaccine is 96% effective in children ages 12-17. That comes out from early data released Thursday, along with the company’s mixed earnings and earnings for the first quarter. In the pre-market the shares fell by more than 6%. Citing early data from another ongoing study, Moderna said Wednesday a Covid booster shot triggered a promising immune response against variants first identified in South Africa and Brazil. US health officials said earlier Wednesday that highly contagious variants will remain a “wild card” for the summer.
4. The USA waives patent protection for Covid vaccines
During a weekly market in Kandivali you can see crowds shopping.
SOPA pictures | LightRocket | Getty Images
Biden’s government said Wednesday it supports the waiver of intellectual property protection for Covid vaccines as other countries around the world struggle to manufacture the life-saving doses. Albert Bourla, CEO of Pfizer, told CNBC on Tuesday that such a move would not affect the production of its Covid vaccine. “Bottlenecks are raw materials because raw materials end up in manufacturing facilities,” he said. India again reported new Covid cases every day. According to the New York Times, India has only fully vaccinated 2% of its population compared to more than 30% in the US
5. SEC Chairman on Testimony of GameStop Derivatives Short Selling, Archegos
Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), speaks during a hearing of the Senate Banking Committee in Washington, DC, the United States, on Tuesday, July 30, 2013.
Andrew Harrer | Bloomberg | Getty Images
Gary Gensler, who was sworn in as SEC chairman last month, will testify before a House financial services committee about the GameStop saga and the collapse of Archegos on Thursday. According to prepared statements, Gensler will tell lawmakers that his agency is considering measures to urge major investors to learn more about their short positions that were involved in the GameStop frenzy in January, as well as the use of derivatives that toppled Archegos, To reveal. In addition, Gensler will talk about how stock trading apps seduce retail customers with playful features like points, rewards, bonuses and competitions.
– Reuters contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.