Here are the key news, trends and analysis that investors need to get their trading day underway:
1. Stock futures fall, one day after Wall Street resumed its boom
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on March 21, 2022.
Brendan McDermid | Reuters
2. Modern vaccination for children under 6 was up to 44% effective against Omicron
With her husband Stephen by her side Erin Shih embracing their children Avery 6, and Aidan, 11, after their second Modern COVID-19 vaccinations at the Kaiser Permanente Los Angeles Medical Center Friday, June 25, 2021.
Sarah Reingewirtz | MediaNews Group | Getty Biller
Moderna’s two-dose covid vaccine was approximately 44% effective in preventing infection of the Omicron variant in children from 6 months to 2 years of age and approximately 38% effective in children 2 years to 5 years old, according to data released by the company Wednesday. None of the children developed a serious illness and the majority of the breakthrough cases were mild. Moderna plans to ask the Food and Drug Administration for the emergency use authorization for vaccination for children under 6 years of age as soon as possible.
3. One of the black boxes found from Boeing Jet Crash in China
Photo taken with a mobile phone showing pieces of a crash passenger plane wreck found at the crash site in Tengxian County, South China’s Guangxi Zhuang Autonomous Region, on March 22, 2022.
Zhou Hua | Xinhua News Agency | Getty Biller
One of the two black boxes from Monday’s China Eastern Airlines plane crash was found, Chinese state media said on Wednesday. Officials said the black box was “severely damaged” and it was difficult to say whether it was he who was taking flight data or cockpit communications with air traffic controllers. A Boeing 737-800 jet carrying 132 people sank in a rural, mountainous part of the southern region of Guangxi on Monday. While China did not confirm any deaths, authorities said late Tuesday that rescue workers had not found any survivors.
4. DOT betrays infrastructure subsidies; CEOs sit down to confirm about chip shortage
Department of Transportation Secretary Pete Buttigieg delivers remarks on new transportation initiatives at an event with U.S. Vice President Kamala Harris at the South Court Auditorium in the Eisenhower Executive Office Building on March 7, 2022 in Washington, DC.
Anna Moneymaker | Getty Biller
Transport Minister Pete Buttigieg said on Wednesday that the administration was ready to allocate $ 2.9 billion in grants to state and local infrastructure projects such as highways, bridges, freight, ports and public transit expansions and repairs. The money is part of the bipartisan $ 1 trillion infrastructure bill that Biden signed into law four months ago.
Signs at the entrance of the Intel headquarters in Santa Clara, California, US, Tuesday, October 19, 2021.
David Paul Morris | Bloomberg | Getty Biller
The CEOs of the US semiconductor giants Intel and Micron are due to confirm before the Senate Commerce Committee on Wednesday to make the case for $ 52 billion in US subsidies for chip manufacturing. A persistent industrial-wide shortage of chips disrupted production in the automotive and electronics industries.
5. GameStop is floating as the president of the company buys more shares
A GameStop Location in New York, December 23, 2021.
Scott Mlyn | CNBC
Shares of GameStop, which rose nearly 31% on Tuesday, jumped another 12.5% in pre-market trading Wednesday after video game retailer president Ryan Cohen bought another 100,000 shares. The acquisition brings its holdings to 11.9% as the activist investor, who also co-founded online pet retailer Chewy, is trying to move GameStop into e-commerce. Two weeks ago, Cohen unveiled a major stake in Bed Bath & Beyond and pushed for a remodel. Both Bed Bath & Beyond and GameStop have seen sharp gains and losses in the Meme Stock Craze in the last 15 months or so.
– CNBC Reporter Yun Li, Thomas Franck, Spencer Kimball in the Evelyn Cheng as well as the Associated Press and Reuters contributed to this report.
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