Morning Report.
Today is Wednesday! We get you up to speed on the most important developments in politics and policy, plus trends to watch.
Alexis Simendinger and
@asimendinger and @alweaver22. Please recommend the Morning Report to friends and let us know what you think. CLICK HERE to subscribe!
Total U.S. coronavirus deaths each morning this week: Monday,
498,901; Tuesday, 500,310; Wednesday, 502,660.
Top security officials involved in the response to the Jan. 6 insurrection at the U.S. Capitol pointed fingers, blamed “intelligence failures” and argued that the Pentagon left officers vulnerable to the deadly attack on the Capitol complex.
Lawmakers grilled top officials on Capitol Hill, eager to lay blame for the stunning attack, which resulted in five deaths when pro-Trump rioters stormed the Capitol and attempted to derail the formal Electoral College tally (The Hill).
Stocks Rally as Powell Soothes Traders’ Nerves: Markets Wrap
Bloomberg 2/24/2021 Lu Wang and Kamaron Leach
(Bloomberg) U.S. equities reversed losses and staged a rally as Federal Reserve Chairman Jerome Powell reaffirmed his view that the economy needs support. Government bond yields climbed along with oil prices.
Energy and industrial companies led gains in the S&P 500 Index, offsetting weakness for tech stocks. Banks advanced, sending an industry gauge to its highest since 2007, and small caps rallied more than 2% after U.S. regulators said Johnson & Johnson’s Covid-19 vaccine is safe and effective. Tesla Inc. gained after Ark Investment Management’s Cathie Wood said she bought shares during this week’s selloff. U.S. 10-year yields touched 1.43%, the highest since February 2020, before paring the increase.
U S Stock Futures, Bonds Steady; Hang Seng Slumps: Markets Wrap msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Dow Futures Slide on Inflation Concerns, Boeing 777 Suspension TheStreet 2/22/2021
The Monday Market Minute
Global stocks retreat as inflation expectations grind higher amid improving vaccine rollouts and solid near-term growth prospects.
Commodity prices extend gains, with copper trading at a 9.5 year high and Brent crude well above $63 per barrel.
House lawmakers are likely to vote on President Joe Biden s $1.9 trillion stimulus bill Friday, with the Senate following up next week.
Benchmark 10-year Treasury bond yields hit a 13-month high of 1.38%, while market-based inflation expectations hold at the highest levels in two years.
Data from Israel suggests a stronger-than-expected performance for the Pfizer/BioNtech vaccine in early rollouts, while drugmakers GlaxoSmithKline and Sanofi plan trials for a new candidate later this year.