Here are the top news, trends, and analysis investors need to get their trading day started:
1. Nasdaq should fall, Netflix shares slide
A trader works on the floor of the New York Stock Exchange.
2. Netflix reports a dramatic slowdown in subscribers
Signage outside of the Netflix office building on Sunset Boulevard in Los Angeles, Calif. On Monday, April 19, 2021.
Bing Guan | Bloomberg | Getty Images
Netflix attributed the slowdown in subscriber growth to pandemic delays in some of its popular shows and films. In the first quarter, net subscribers added worldwide were 3.98 million, compared to estimates of 6.2 million. Netflix announced on Tuesday that it will only add about 1 million subscribers in the current quarter. The company doesn’t believe the increasing competition from Disney + and Hulu, AT & T’s HBO Max, Apple TV +, Amazon Prime, and Comcast’s Peacock is a contributing factor to the poor subscriber numbers. Earnings per share in the first quarter clearly exceeded forecasts, while sales were slightly above analysts’ expectations.
3. Biden hits the latest vaccine milestone and is committed to it
U.S. President Joe Biden will hold a two-party meeting on the American employment plan at the White House in Washington, USA on April 19, 2021.
Kevin Lemarque | Reuters
President Joe Biden will reflect on Wednesday his efforts to expand the spread and access of Covid vaccines in his first three months at the White House. The US has given more than 200 million doses, according to the CDC, the latest goal the president wanted to achieve next week before his 100th day in office. More than 50% of adults in the US have received at least one dose, including a third who have been fully vaccinated. Biden is expected to have all 16-year-olds and older outline his government’s plans to increase vaccination rates even further.
4. J&J resumes rollout of Covid vaccines in Europe
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
Johnson & Johnson said it would resume rollouts of its Covid vaccine in Europe after regulators across the continent said the benefits outweigh the risk of unusual but severe blood clots. The European Medicines Agency on Tuesday recommended adding a warning of possible clotting problems with low platelets. J & J’s vaccine was suspended in the US after six women developed a rare bleeding disorder. One woman died and another was in critical condition. The CDC’s Vaccination Advisory Board will make its recommendation on J & J’s one-shot vaccine on Friday.
5. Sanders Reveals Free College Bill, Wants Wall Street To Pay For It
Senator Bernie Sanders, a Vermont Independent and Chairman of the Senate Budgets Committee, speaks during a hearing in Washington, DC, United States on Wednesday March 17, 2021.
Samuel Corum | Bloomberg | Getty Images
Sen. Bernie Sanders, I-Vt., And Rep. Pramila Jayapal, D-Wash., On Wednesday unveiled the College for All Plan, a bill that would make college education free for millions and provide extra support to those of the working class would be granted to families attending minority institutions. The bill, as in previous plans, calls for the government to help pay by imposing a financial transaction tax on Wall Street. Not a word on whether Biden endorses this bill, but he does want to broadly reduce the burden of college expenses. As a candidate, he expressed support for the general idea of a financial transaction tax but did not offer details.
– Associated Press and Reuters contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.
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