Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stock futures rise after S&P and Dow set new records
A Wall Street sign is displayed in front of the New York Stock Exchange (NYSE) in New York, USA, on Thursday, February 11, 2021.
Bloomberg | Getty Images
US stock futures were higher on Tuesday morning as Wall Street hoped to rally after Monday’s record close for the Dow Jones Industrial Average and the S&P 500. The Nasdaq was the best Monday, up 0.9% after a strong Tesla session. The tech index dropped 1.15% below its all-time high. The blue-chip Dow is up in four of the past five sessions, while the broad S&P has posted eight positive sessions in the past nine.
The yield on the 10-year Treasury bond eased slightly on Tuesday morning at around 1.618%. On Monday, the 10-year yield reached 1.673%, but fell to just above 1.63%.
It’s a busy week for tech revenue, including after the market closed on Tuesday, as major companies Alphabet and Microsoft are due to report. Advanced Micro Devices, which can offer insight into the global semiconductor shortage, and Twitter have also customized the post-call report.
2. Facebook stocks rise after falling profits
Tom Weller | DeFody Images | Getty Images
Stock Facebook shares rose about 2% in premarket as investors welcomed higher-than-expected revenues for the social media company in the third quarter and its decision to add $ 50 billion to its share buyback plan. While Facebook’s revenue fell short of expectations, earnings per share of $ 3.22 beat the $ 3.19 forecast, according to Refinitiv.
Facebook’s quarterly results come amid a large, ongoing dump of documents from whistleblower Francis Haugen, a former product manager at the company. In recent days, several news organizations have posted doc articles showing how Facebook is struggling or struggling to eliminate the harm it knows its apps and services can cause. However, Facebook CEO Mark Zuckerberg defended the social media platform on Monday, saying the information leak represents “a misconception about our company.”
3. Tesla reaches $ 1 trillion market cap for the first time.
Tesla store in Beijing, China, July 4, 2021.
Costfoto | Barcroft Media | Getty Images
Tesla’s market cap reached $ 1 trillion on Monday after the electric car maker’s shares surged 12.66% to close at $ 1,024.86. In premarket Tuesday, shares fell less than 1%. The big move on Monday follows news that rental car company Hertz is ordering 100,000 vehicles from Tesla by the end of 2022. It also came after Morgan Stanley automotive analyst Adam Jonas raised his Tesla price target to $ 1,200 from $ 900.
Tesla is by far the most valuable car maker in the world, joining the likes of Apple, Amazon and Microsoft in the $ 1 trillion market cap club.
4. Biden introduces new Covid rules for foreign visitors when tourist curbs are removed.
MIAMI, FL – SEPTEMBER 3: Travelers make their way through Miami International Airport ahead of Labor Day weekend on September 3, 2021 in Miami, Florida. The Centers for Disease Control and Prevention has recommended that people not vaccinated against the Covid-19 virus should not travel this weekend. Those who fall ill should wear masks and take precautions due to the country’s high transmission rate of Covid-19. (Photo by Joe Radle / Getty Images)
Joe Radl | Getty Images News | Getty Images
Biden administration on Monday released new details about the Covid rules, which will take effect on November 8, when the United States lifts the restrictions on international travel that have been in place since the early days of the coronavirus pandemic in 2020. Airlines will have to check the vaccination status of passengers flying to the United States and collect information that can be used to track contacts.
In addition, unvaccinated Americans and adult travelers who received a vaccine exemption must now test negative within one day of travel; previously, it was within three days of leaving the United States. Children under the age of 18 are exempt from vaccination, The White House said…
5. Democrats are trying to reach agreement on Biden’s social spending plan.
President Joe Biden speaks in the Southern Courtroom on the White House campus on October 14, 2021 in Washington, D.C.
Drew Angerer | Getty Images
Democratic Congressman and the White House are seeking to reach agreement on their signature package of domestic spending, possibly before President Joe Biden travels to Europe on Thursday for a series of meetings. If Democrats agree to an abbreviated version of the spending plan, House Speaker Nancy Pelosi will vote on the accompanying bipartisan infrastructure bill that has already been passed by the Senate. If the House of Representatives approves the bill, Biden could sign it later this week.
The domestic spending package is likely to range from $ 1.5 trillion to $ 2 trillion, up from an initial $ 3.5 trillion, as Democrats tackle the problems of two centrist party members, Senator Joe Manchin of West Virginia and Kirsten Cinema of Arizona. Their support is critical to getting the plan passed by the Senate, which is equally split 50-50 among Democrats and Republicans.
– Follow all market activities like a pro CNBC Pro… Get the latest news on the pandemic with CNBC Coronavirus Coverage…