5 things to know before the stock market opens Tuesday, March 30, 2021


Here are the most important news, trends and analysis that investors need to start their trading day:

1. Stock Futures Fall After Dow’s Record As Yields Surge

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. 10-year Treasury yield hits 14-month high

The 10-year Treasury yield topped 1.77% early Tuesday, hitting another January 2020 high, as Covid vaccine deployments and planned infrastructure spending boosted hopes for a general economic recovery in states -United. However, the move also stoked inflation fears and put pressure on growth stocks, including many tech names, as rising interest rates erode the value of future earnings and squeeze market valuations.

3. How Goldman and Morgan Stanley Avoided Archegos Losses

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, March 19, 2021.

Brendan McDermid | Reuters

In the Archegos collapse, triggered by last week’s drop in ViacomCBS and other stocks, Goldman Sachs avoided losses in the episode, CNBC’s Hugh Son reported. By the time Credit Suisse Suisse and Japan’s Nomura said early Monday that they had offloaded positions on behalf of Archegos, Goldman and Wall Street rival Morgan Stanley had already completed offloading their positions, people said. aware of the file. Archegos is a family office founded by Bill Hwang, former equity analyst at Julian Robertson’s Tiger Management.

4. CDC Chief Warns US Heading For ‘Looming Catastrophe’ In Fight Against Covid

Dr Rochelle Walensky, director of the Centers for Disease Control and Prevention.

Chip Somodevilla | Getty Images

The United States faces a “looming catastrophe” as daily cases of Covid start to rebound again, CDC director Dr Rochelle Walensky has warned. “We have so much to look forward to, so much promise and potential from where we are and so much to hope for, but at the moment I’m scared,” she said in a touching and candid moment. at the Monday morning press conference. Even as vaccinations accelerate across the country, hospitalizations from coronaviruses are also increasing and the number of declining deaths is starting to level off. Walensky urged Americans to “hold on a little longer.”

5. Biden tells states to reinstate coronavirus mask warrants

President Joe Biden delivers remarks after a meeting with his COVID-19 Response Team on the Coronavirus Disease (COVID-19) Pandemic and Immunization Status, at the White House campus in Washington, U.S. United, March 29, 2021.

Jonathan Ernst | Reuters

President Joe Biden has followed his CDC director’s comments by urging governors and local leaders who have abandoned radical mask mandates to restore order. While indicating that some states should wait for their economies to reopen, he also condemned “reckless behavior” that could lead to more infections. “We are giving up hard-earned gains,” Biden said at Monday afternoon’s press conference. “As much as we are doing America, it is time to do more.” He said failure to take the virus seriously “is precisely what got us in this mess in the first place” and could lead to more infections and deaths.

– Get the latest pandemic news with CNBC Coronavirus Blog.

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