Here are the top news, trends, and analysis that investors need to get their trading day started:
1. Stocks are likely to burst on strong earnings reports
Traders on the floor of the New York Stock Exchange.
2. Covid Stimulus Checks Could Really Boost Retail Sales
People shop on 5th Avenue in New York during the coronavirus disease (COVID-19) pandemic on February 17, 2021.
Brendan McDermid | Reuters
The trading department reported Thursday that retail sales rose 9.8% in March, well above estimates for a 6.1% increase. A new series of Covid Stimulus Checks boosted consumer purchases last month as the U.S. economy continued to receive support from aggressive Congressional spending. Retail sales in February were revised up slightly, falling 2.7%.
The Department of Labor reported 576,000 initial jobless claims Thursday last week, well below expectations for 710,000 new registrations. This was certainly the lowest level since the pandemic began and was a sharp drop from the previous week’s revised upward of 769,000.
3. The BofA exceeds estimates for strong investment banking
Signage outside a Bank of America branch in San Francisco, California, the United States, on Thursday, Jan. 14, 2021.
David Paul Morris | Bloomberg | Getty Images
Bank of America’s profits exceeded estimates on strong investment banking and trading results and risk release releases as fewer consumers faced loan defaults. Like other banking competitors, BofA has benefited greatly from the improving US economic outlook in recent months.
Citigroup’s results exceeded analysts’ estimates for first quarter earnings with strong investment banking revenues and an above-expected loan loss provision release. The company also said it is closing retail banking operations in 13 countries in Asia and parts of Europe to focus more on wealth management outside of the US
4. Coinbase is set to jump after a strong but volatile debut
Monitors display Coinbase signage during the company’s IPO on April 14, 2021 on the Nasdaq marketplace in New York City.
Robert Nickelsberg | Getty Images
Coinbase Global shares rose another 8% on the Thursday before going public, a day after the cryptocurrency exchange debuted with a market value of nearly $ 86 billion. Nasdaq announced a reference price of $ 250 per share for Coinbase’s direct listing late Tuesday. In one volatile session, the stock opened at $ 381 and quickly rose to $ 429, for a market cap of $ 100 billion. It fell back below its debut price at one point, hitting a low of around $ 310. It closed at $ 328. Coinbase hit the public market when a record amount of cash was flowing into bitcoin and cryptocurrencies.
5. The CDC Panel is delaying the decision on J&J Covid’s vaccination break
Johnson & Johnson’s Janssen COVID-19 vaccine will be stored in Chicago, Illinois for use with United Airlines employees at the United Clinic at O’Hare International Airport on March 9, 2021.
Scott Olson | Getty Images
The CDC Advisory Committee on Immunization Practices has decided to postpone a decision on Johnson & Johnson’s Covid-19 vaccine while investigating cases of six women developing a rare but serious bleeding disorder, one person dead and one other is in critical condition. The panel met Wednesday, the day after the FDA called on states to temporarily stop using J & J’s vaccine “out of caution”. Moving the panel means the pause for J & J’s vaccine will continue to apply. The CDC committee unanimously voted for a reunion in a week.
– Follow all market action like a pro on CNBC Pro. Get the latest information on the pandemic on CNBC’s coronavirus blog.