Read more about US: Fed policymakers see rebound ahead, even if no Covid herd immunity on Business Standard. Analysts have long predicted economic activity will pick up as more people are vaccinated, but hopes for a quick path to a fully immunized populace have faded amid vaccine shortages
A slower-than-expected vaccine rollout and the rise of coronavirus variants may make attaining herd immunity against COVID-19 difficult, but that should not stop the economy from rebounding, according to a U.S. central banker Thursday.
A Peek Into The Markets: US Stock Futures Up; Alphabet, Amazon Report Upbeat Earnings Benzinga 2/3/2021
Pre-open movers
U.S. stock futures traded higher in early pre-market trade after the Dow Jones added 475 points in the previous session. Investors are awaiting earnings reports from Humana Inc (NYSE: HUM) and Paypal Holdings Inc (NASDAQ: PYPL), Metlife Inc (NYSE: MET), eBay Inc. (NASDAQ: EBAY).
The ADP’s national employment report for January will be released at 8:15 a.m. ET. US Services Purchasing Managers Index for January is scheduled for release at 9:45 a.m. ET, while the ISM s services index for January will be released at 10:00 a.m. ET. Minneapolis Fed President Neel Kashkari is set to speak at 8:30 a.m. ET, while Federal Reserve Bank of St. Louis President James Bullard will speak at 1:00 p.m. ET. Philadelphia Fed President Patrick Harker is set to speak at 2:00 p.m. ET, while Federal Reserve Bank of Cleveland President Loretta Mester will speak at 5:
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) shares shot up 60% to $7.57
after the company announced a newly-appointed Chief Operating Officer and Chief Technology Officer to spearhead its efforts to enter Bitcoin mining.
Shares of GW Pharmaceuticals plc (NASDAQ: GWPH) got a boost, shooting 46% to $214.00 after the company announced it will be acquired by Jazz Pharmaceuticals for $7.2 billion.
Tyme Technologies Inc (NASDAQ: TYME) shares were also up, gaining 86% to $3.38 after the company was granted US patent claims covering the use of TYME-19 to treat COVID-19 infections.
Equities Trading DOWN
Vaxart, Inc. (NASDAQ: VXRT) shares tumbled 52% to $11.19 after reporting that neutralizing antibodies were not detected in volunteers after a single dose of its experimental oral COVID-19 vaccine candidate, VXA-CoV2-1, in a Phase 1 trial of 35 healthy adults.
By Jonnelle Marte, Ann Saphir and Howard Schneider
(Reuters) - A recent rise in U.S. bond yields and market inflation expectations has bolstered Federal Reserve officials hopes that the central bank s new monetary policy approach is taking hold and could be further buoyed if a Democratic-led Congress rolls out more spending. I am encouraged to see the rise in market indicators of inflation expectations. . That is what we are trying to support, Richmond Federal President Thomas Barkin said on Thursday in an interview with Reuters.
Barkin said he regarded a recent rise in interest rates on Treasury bonds as also part of a reflation trade, a sign that investors were factoring future hikes in prices into their decisions by demanding higher interest rates, rather than representing a worrisome tightening of financial conditions.