What to watch today: Nasdaq futures rise as 10-year Treasury yield retreats – CNBC
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IN THE NEWS TODAY
AstraZeneca’s (AZN) Covid vaccine was 79% effective in preventing symptomatic illness, according to data published Monday from a 32,000-plus person phase 3 trial in the U.S. and in Latin America. The two-shot vaccine also showed 100% efficacy in preventing severe disease and hospitalization. AstraZeneca plans to file with the FDA for emergency use authorization in April. (CNBC)
* Analysts cheer ‘surprisingly positive’ AstraZeneca U.S. trial data (CNBC)
The latest trial data in the U.S. and in Latin America comes as a number of European nations temporarily suspended the use of AstraZeneca’s vaccine following reports of blood clots. AstraZeneca also said Monday that an independent board identified no safety concerns related to the firm’s inoculation. (Reuters)
Even as the pace of vaccinations accelerates in the U.S., Covid cases are increasing in 21 states and highly infectious variants are spreading as governors relax restrictions on businesses. Public health officials warn that while roughly 2.5 million people around the country are receiving shots every day, infection levels have plateaued this month.
* Miami Beach extends curfew, emergency powers to control unruly spring break crowds (CNBC)
* Covid variant from Brazil detected in New York resident for the first time (CNBC)
* Third Covid wave hits Europe: Lockdowns imposed and vaccines remain a problem (CNBC)
Nationwide, new infections are holding around 54,000 on average in the past seven days, according to data from Johns Hopkins University. That’s a dramatic drop from January’s peak. While fatalities are much lower as well, an average of 1,000 people died from Covid each day over the past seven days.
Royal Caribbean (RCL) will restart some Caribbean cruises in June, following a year-long suspension amid the Covid-19 pandemic. Crews will be fully vaccinated, and adult guests will be required to be vaccinated as well. Children under 18 will need to show proof of a negative Covid test. (Reuters)
Canadian Pacific Railway has agreed to buy Kansas City Southern for $25 billion in a cash-and-stock deal. The combination would create the first rail network connecting the U.S., Mexico and Canada. Following Sunday’s announcement, shares of Kansas City Southern rose about 17% in the premarket, while shares of Canadian Pacific Railway dropped about 2.5%. (Reuters)
Shares of Tesla rose 4% in Monday’s premarket after Cathie Wood’s Ark Invest made a long-awaited, bold call, projecting the Elon Musk-led electric auto maker’s stock would more than quadruple to $3,000 by 2025. Tesla, which closed at $654 per share Friday, has soared 665% in the past 12 months. However, the stock over the past month and year to date has hit a rough patch. (CNBC Pro)
* Jeep unveils all-electric Wrangler concept SUV (CNBC)
Apollo Global …….