Here are the top news, trends, and analysis that investors need to get their trading day started:
Traders work on the trading floor of the New York Stock Exchange.
Pedestrians wearing protective masks carry shopping bags in San Francisco, California on Wednesday, February 17, 2021.
David Paul Morris | Bloomberg | Getty Images
The trading department is on the move with personal income and expense figures for February at 8:30 a.m.CET. Economists expect a 7% drop in income. Spending also falls by 0.8%. In January, Income increased 10%This is the biggest monthly gain since April, when Americans received approved stimulus checks in December. Spending in January was up 2.4%. Another round of stimulus testing approved in March could appear in the data in the coming months.
A guest attends the opening ceremony of WeWork Hong Kong’s flagship facility in Hong Kong, China, on Feb.23, 2017.
Bobby Yip | Reuters
WeWork, which went public in 2019 after a dwindling valuation and the resignation of co-founder Adam Neumann, has hit a new deal to go public. The office sharing company agreed on Friday to join forces with a special purpose vehicle BowX Acquisition Corp.. The transaction values WeWork at $ 9 billion, a fraction of its one-time valuation of approximately $ 47 billion. According to the announcement, BowX’s shares rose 2.5% on the Friday before going public.
A man is on the phone in front of GameStop on 6th Avenue in New York on February 25, 2021.
John Smith | Corbis News | Getty Images
GameStop Shares rose in the pre-market on Friday by around 10%, in the morning after a five-time streak of bad luck and Closing 52% higher. There was no obvious news on Thursday. GameStop was the most famous “meme stock” that was popular with retailers on Reddit and other social media platforms. The stock lost about a third of its value on Wednesday after the video game retailer delivered disappointing fourth quarter results, failed to detail its digital turnaround plans and confirmed it was considering selling more shares.
Elon Musk, founder of SpaceX and chief executive officer of Tesla, waves as he arrives for a discussion at the Satellite 2020 conference in Washington, DC on Monday, March 9, 2020.
Andrew Harrer | Bloomberg | Getty Images
The National Labor Relations Board said Tesla close Elon Musk Delete a tweet that was seen as a threat to work organizers in the company. The independent federal agency also ordered Tesla is reinstating a laid-off employee, Richard Ortiz, a union attorney. Tesla must also compensate Ortiz for lost earnings, benefits, and adverse tax consequences resulting from his termination. The NLRB’s decision largely corresponded to the decision of an administrative judge in 2019, which Tesla had appealed to the full board.
The stranded container ship Ever Given, one of the largest container ships in the world, ran aground in the Suez Canal in Egypt on March 25, 2021.
Suez Canal Authority | Reuters
The Ever Given, a stranded mega container ship in the Suez Canal, holds an estimated $ 400 million an hour trading, based on the approximate value of the goods moving through the key waterway on a daily basis. That’s according to shipping data and news company Lloyd’s List. Lloyd’s estimates traffic to the west of the Canal at around $ 5.1 billion per day and traffic to the east at around $ 4.5 billion per day. The Suez Canal, which separates Africa from Asia, is one of the busiest trade routes in the world.
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