Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stock futures fall the day after Wall Street rebounded.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, March 21, 2022.
Brendan McDermid | Reuters
Next to her husband Stephen, Erin Shea hugs her children Avery, 6, and Aidan, 11, after they received their second Moderna COVID-19 vaccine at Kaiser Permanente Medical Center in Los Angeles on Friday, June 25, 2021 .
Sara Reingewirtz | MediaNews Group | Getty Images
The two-dose Moderna Covid vaccine was about 44% effective in preventing infection from the omicron variant in children aged 6 months to 2 years, and about 38% effective in children aged 2 to 5 years, according to data released by the company on Wednesday. None of the children developed severe disease, and most breakthroughs were mild. Moderna plans to apply to the Food and Drug Administration as soon as possible for emergency use authorization for the vaccine for children under 6 years of age.
3. One of the black boxes found in the crash of a Boeing plane in China.
A picture taken by a mobile phone shows the wreckage of a crashed passenger plane found at the crash site in Tengxian County, south China’s Guangxi Zhuang Autonomous Region, March 22, 2022.
Zhou Hua | Xinhua News Agency | Getty Images
One of two black boxes from the China Eastern Airlines plane crash on Monday. Found, Chinese state media reported on Wednesday. Officials said the black box was “badly damaged” and it’s hard to tell if it was the one that records flight data or the cockpit’s communication with air traffic controllers. The Boeing 737-800 aircraft carrying 132 people dived on Monday in the rural mountainous part of the southern region of Guangxi. While China has not confirmed any deaths, authorities said late on Tuesday that rescuers had not found any survivors.
4. DOT discloses infrastructure grants; Executives ready to testify about chip shortage
Department of Transportation Secretary Pete Buttigieg comments on new transportation initiatives at an event with U.S. Vice President Kamala Harris in the Southern Courtroom at the Eisenhower Executive Office Building on March 7, 2022 in Washington, DC.
Anna Moneymaker | Getty Images
Department of Transportation Secretary Pete Buttigieg said Wednesday the administration is ready to hand out $2.9 billion in grants for state and local infrastructure projects such as expanding and repairing highways, bridges, freight, ports, and mass transit. The money is part of a bipartisan $1 trillion infrastructure bill that Biden signed into law four months ago.
A sign at the entrance to Intel’s headquarters in Santa Clara, California, USA on Tuesday, October 19, 2021
David Paul Morris | Bloomberg | Getty Images
US semiconductor giants Intel and Micron are due to testify before the Senate Commerce Committee on Wednesday to make the case for $52 billion in US chip manufacturing subsidies. The constant shortage of chips in the industry has disrupted production in the automotive and electronics industries.
5. GameStop Grows as Company Chairman Buys More Shares
GameStop location in New York, December 23, 2021
Scott Mlyn | CNBC
Shares of GameStop, which rose nearly 31% on Tuesday, jumped another 12.5% in premarket Wednesday after video game retailer chairman Ryan Cohen bought another 100,000 shares. The purchase boosted his stake to 11.9% as the activist investor, who also co-founded online pet store Chewy, is trying to move GameStop to e-commerce. Two weeks ago, Cohen announced a large stake in Bed Bath & Beyond and pushed for a change. Both Bed Bath & Beyond and GameStop have seen dramatic ups and downs in the meme market over the past 15 months or so.
CNN correspondents. Yoon Lee, Thomas Frank, Spencer Kimball as well as Evelyn Cheng and the Associated Press and Reuters contributed to this report.
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