Here are the most important news, trends and analysis that investors need to start their trading day:
1. Wall Street looks higher after Nasdaq’s three-day winning streak
Traders work in the hall of the New York Stock Exchange (NYSE) in New York, January 12, 2022.
Brendan McDermid | Reuters
US stock futures rose slightly on Thursday after another hot but unsurprising inflation report. The Nasdaq rallied Wednesday, led by tech stocks, which rebounded for a third straight session. The Dow Jones Industrial Average and the S&P 500 are up for the second day in a row, with each Wednesday at the end of the week falling less than 1.5% from last week’s record closes. The Nasdaq still has a lot of work to do to deal with its recent plunge, ending Wednesday 5.4% below its last record close in November.
- Looking ahead, global alternative asset management company TPG is set to debut on the Nasdaq on Thursday, the morning after pricing its initial public offering at $ 29.50 per share, which is in the middle of the expected range.
- Moderna expects to provide data on Covid vaccine trials in children aged 2-5 by March. If supported by the study, the company said it would then apply for an emergency authorization to vaccinate this age group. Moderna shares were slightly lower premarket.
2. Delta Air Lines reports high profits and earnings; stocks are growing
Delta Air Lines aircraft at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, USA, on Tuesday, December 21, 2021.
Elijah Nuvlage | Bloomberg | Getty Images
Delta Air Lines shares rose more than 1.5% premarket after the carrier on Thursday posted its highest quarterly earnings since the end of 2019, surpassing expectations of $ 9.47 billion in the fourth quarter. Earnings of 22 cents per share also beat estimates, thanks in part to more vacation bookings and more business travel. Delta said it expects losses in the first quarter, blaming the Covid omicron option for higher costs and weaker-than-expected orders. However, the airline continues to see a rebound in travel demand and profits this year.
3. More unsurprising hot inflation numbers; new claims for unemployment benefits are on the rise
The Commerce Department said Thursday, The December PPI rose 9.7% year-on-year, slightly below estimates and the largest increase on record. The PPI comes after December CPI rose 7% year-on-year at the fastest pace since June 1982, but in line with estimates. The Labor Department said Thursday that weekly initial jobless claims rose to 230,000, more than expected and 23,000 above the previous week’s unrevised level.
4. The Senate Commission will hold hearings on Brainard’s candidacy for the post of vice chairman of the Fed.
US Federal Reserve Board Member Lael Brainard speaks after US President Joe Biden appointed her Deputy Chairman of the Federal Reserve Board in the Southern Courtroom of the Eisenhower Executive Office building at the White House in Washington, DC, November 22, 2021.
Kevin Lamarck | Reuters
Senate Banking Committee holds confirmation hearing at 10:00 am ET Thursday to consider Federal Reserve Governor Lael Brainard as the next Fed vice chairman. In a prepared speech, Brainard said that controlling inflation, which has been high in recent decades, is “the most important challenge” facing central banks. Brainard’s prepared remarks are close to the monetary policy scenario used by Fed Chairman Jerome Powell at his second-term approval hearing on Tuesday. He said the Fed will act as needed with higher interest rates and other measures to make sure inflation returns from its current highs to the 2% target set by the central bank.
President Joe Biden addresses voting rights during a speech at Morehouse College and Clark University Atlanta in Atlanta, Georgia on January 11, 2022.
Jonathan Ernst | Reuters
The president Joe Biden plans to issue a statement on Thursday about his administration’s “harsh reaction” to the surge in Covid cases due to the highly contagious variant of omicron. Biden will highlight the federal government’s efforts to use military medical personnel, starting next week, to help hospitals hit by a dual problem: large numbers of Covid patients and a shortage of staff from sick medical workers. The president will also announce that six additional military medical teams will be deployed in Michigan, New Jersey, New Mexico, New York, Ohio and Rhode Island.
– Reuters and Associated Press contributed to this report. Follow all market activity like a professional on CNBC Pro… Get the latest pandemic news with CNBC Coronavirus Coverage…