Here are the key news, trends and analyzes that investors need to start their trading day:
1. Stock futures dip, one day after a Wall Street comeback
Traders working on the New York Stock Exchange (NYSE) today, Wednesday, April 21, 2021.
U.S. stock futures fell slightly Thursday after Wall Street jumped back from a two-session losing streak. The Dow Jones Industrial Average averaged 316 points, or 0.9%, on Wednesday. The S&P 500 increased by 0.9%. Nasdaq jumped 1.2%. The Dow and S&P 500 were partially shy about their Friday-high closing. Nasdaq was 1% off its record high in February. The 10-year Treasury return, which rose to 14-month highs in March and pushed tech stocks, crossed lower early Thursday and remained below 1.6%.
The Labor Department is set to report its weekly look at jobless claims at. 8:30 ET, one hour before opening time. Economists expect 603,000 new applications for unemployment benefits last week. The previous week’s initial claim of 576,000 was easily the best figure since the start of the Covid pandemic. It was the first treatment under 600,000 since the 256,000 reported for the week ending March 14, 2020.
Southwestern U.S. stocks rose after quarterly results
Travelers wearing protective masks cross a street outside a Southwest Airlines Co. check-in area at Oakland International Airport in Oakland, California, USA, on Monday, October 19, 2020.
David Paul Morris | Bloomberg | Getty Images
Southwest Airlines on Thursday said leisure travel bookings continue to rise and it expects breakeven cash flow “or better” by June. The Dallas-based airline had net income in the first quarter of $ 116 million compared to a loss of $ 94 million a year ago. Its profit in the first quarter was the result of more than 1 billion. $ In federal aid that offset its labor costs. Revenue of $ 2.1 billion. Decreased almost 52% from the previous year. Shares rose 1.5% in the consumer market.
American Airlines posted a net loss of $ 1.25 billion. $, The fifth loss in a row in the quarter. The airline, like its major rivals Delta and United, has been forced to do without much of the business and international travel revenue they have long relied on. America’s revenue came in at just over $ 4 billion. Dollars, which is a decrease of almost 53% from the more than 8.5 billion. Dollars it released a year ago. Shares rose 2.3%.
3. Credit Suisse announces quarterly losses following the Archegos scandal
A Credit Suisse logo in the window of a Credit Suisse Group AG bank branch in Zurich, Switzerland.
Bloomberg | Bloomberg | Getty Images
Credit Suisse on Thursday reported a net loss of $ 275 million in the first quarter after warning of large losses earlier this month in the collapse of US hedge fund Archegos Capital. Shares of the Swiss bank trading on Wall Street fell about 7% in pre-market trading. However, this loss was narrower than expected. Had it not been for Archegos, Credit Suisse CEO Thomas Gottstein told CNBC on Thursday that Q1 was “one of our best quarters in the bank’s history”. “Absolutely the best quarter of the last 10 years,” he added, calling the Archegos losses unacceptable.
4. The bite promises a sharp reduction in greenhouse gas emissions by 2030
US President Joe Biden makes remarks about tackling climate change before signing executive acts in the State White House dining hall in Washington, January 27, 2021.
Kevin Lamarque | Reuters
President Joe Biden promises to halve U.S. greenhouse gas emissions by 2030, the White House announced ahead of a global climate summit Thursday and Friday. This goal roughly doubles America’s previous commitment under the 2015 Paris Climate Agreement. All 40 world leaders invited by Biden to the virtual gathering will attend, including those from China and India. The summit is a chance for the United States to join the global climate effort after the Trump administration left the Paris Agreement.
5. India reports global record of new single-day Covid cases
A patient with respiratory problems is seen in an ambulance waiting to enter a COVID-19 hospital for treatment amid the spread of coronavirus disease (COVID-19) in Ahmedabad, India, April 20, 2021.
Amit Dave | Reuters
India reported a record number of daily Covid cases on Thursday as the country’s second wave of coronavirus shows no signs of slowing down. There were 314,835 new cases over a 24-hour period. It surpassed the world’s previous highest single-day increase that the United States had back in January. There is also growing concern about the double mutation of a Covid variant that was discovered in India, which could make the virus more contagious. India is the second largest after America with the most cumulative infections among nations at nearly 16 million, about half of the United States total and about 2 million more than No. 3 Brazil. Unlike India and Brazil, which are in the midst of increases, however, new daily cases in the US have been lower.
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