2021-03-22 15:26:33
Your Daily Market Movers
15:00 Fed Chair Powell speaks
Investors will be watching joint testimony to Congress by Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen on Tuesday and Wednesday amid concerns over how much further the recent surge in Treasury yields can run.
Investors are pricing in a first-rate hike sooner than the Fed currently expects, amid fears that the economy could overheat as it recovers from the pandemic given President Joe Biden’s massive stimulus package combined with the Fed’s easy money policy.
Investors may also begin to fret that about the prospect of higher taxes that could threaten the rally in U.S. stocks as the Biden administration looks for ways to pay for its spending plans.
In Europe plans for further lockdowns to combat the third wave of Covid-19 cases.
Germany is the latest European country to consider extending restrictive measures, with a proposal calling for the current lockdown to be extended into the fifth month.
President Recep Tayyip Erdogan abruptly removed his hawkish central bank governor from office.
AstraZeneca vaccine found to be 79% effective in U.S. trials, with ‘no increased risk’ of blood clots.
Cathie Wood's Ark Invest said it expects Tesla's share price to reach the $3,000 mark by 2025.
Wall Street forecaster Jim Bianco expects stocks to get a boost this spring because the benchmark 10-year Treasury Note yield will temporarily retreat.
For Amazon a medium-term path to $5,000/share, based on robust fundamental trends in e-commerce, marketplace services, and cloud.", according to analysts from Tiprank.
According to Wedbush analyst Daniel Ives, cloud momentum for Microsoft is “hitting its next gear of growth in Redmond.” To this end, he kept his Buy rating and $300 price target as is.
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