Investing.com – The US will have enough vaccines for all adults by May as Texas ends trade restrictions and lifts its mask mandate. ADP (NASDAQ:
) releases its private payroll reports for February, stocks are expected to rebound from losses on Tuesday, and the European Central Bank has changed its mind on halting the rise in bond yields. Oil prices are buoyant again ahead of the OPEC meeting, and US inventory data is due later. Here’s what you need to know in the financial markets on Wednesday March 3rd.
The U.S. economy is on its way after a deal between Johnson & Johnson (NYSE:
) and Merck (NYSE:
), significantly expanding production capacity for J&J’s newly approved single vaccine against Covid-19.
President Joe Biden said the deal should ensure that all American adults have the opportunity to be vaccinated by the end of May, two months early than previously assumed. This increases the prospect of an earlier and more extensive reopening of the tourism and hospitality industries in particular.
In a separate but related development, Texas became the largest state to date to lift its mandate to wear masks and end the business restrictions associated with Covid . The move reflects not only a sharp drop in infections and hospital stays in recent weeks, but the need for Governor Greg Abbott to change the local political narrative following last month’s utility disaster during the cold snap.
Australia gave the northern hemisphere a taste of what to expect when the economies reopen for the summer.
The « happy country » reports
from 3.1% in the final quarter of last year, well above expectations of 2.5%, largely due to consumers spending the excess savings they had accumulated in previous quarters. Many policymakers, including Bank of England Governor Andrew Bailey, have forecast a sharp spike in spending on services, particularly as the lockdowns are lifted.
However, the near-term reality remains more worrying. Italy announced plans to tighten restrictions on business and social life in some regions after a surge in cases, and Poland reported that its new infections have doubled since it eased its regulations. Germany will announce a modest relaxation of its Covid rules later this week. The
For the eurozone, overall activity continued to contract in February, albeit at a slower pace.
US stock markets will reopen significantly higher in response to the better prospects for an economic reopening after renewed turmoil, especially on Tuesday led to a strong sale of technology stocks.
Until 6:30 a.m. ET (1130 GMT),
Dow Jones Futures
were up 215 points, or 0.7%, while
S&P 500 futures
had risen by 0.6% and
Nasdaq 100 futures
were also up 0.7%.
Â With the end of the profitable season â ???? Brown Forman (NYSE:
), Marvell (NASDAQ:
) and Dollar Tree (NASDAQ:
) are the only reports that need attention early – the attention should be paid to the
ADP private payrolls
Report for February due at 8:15 p.m. ET. The
Not manufacturing ISM
Poll will follow at 10 a.m.
According to Bloomberg, the European Central Bank is reportedly concerned about reacting to the recent surge in bond yields.
The news agency reported sources close to the bank that they are not speeding up their bond purchases must, as the recent sell-off reflected a legitimate improvement in sentiment about the economic outlook. Just last week, President Christine Lagarde said that the ECB would closely monitor nominal bond yields, a message that many felt was significant, that it was unwilling to tighten financial conditions under any circumstances.
The central banks were Concerned about the sell-off of bonds to varying degrees over the past week. Federal Reserve Governor Lael Brainard said Tuesday that she found it « eye catching ». but repeats that it will be « someday » ???? before the Fed changes its stance on bond purchases. The Reserve Bank of Australia intervened heavily last week to halt the rise in three- and ten-year bond yields.
Crude oil prices rebounded overnight after a series of optimistic comments from key officials on the state of the world market ahead of the month Key OPEC. Meeting on Thursday where Saudi Arabia, Russia and others will set production quotas for April.
Analysts warn that headlines about unchanged production at OPEC level could mask an actual surge in supply from Saudi Arabia, that unilaterally cut its production by 1 million barrels a day in February and March.
By 6:45 a.m. ET,
US crude oil
Futures rose 1.8% to $ 60.84 a barrel
Futures rose 1.8% to $ 63.84 a barrel
American Petroleum Institute
due at 10:30 a.m. ET as usual.
We encourage you to use comments to connect with users, share your perspective, and ask questions to authors and each other. However, in order to maintain the high level of discourse that we all appreciate and expect, please note the following criteria:
Offenders of spam or abuse will be deleted from the website and, at Investing.com’s discretion, excluded from future registration.
Drop here or a picture
Upload from your computer
Supported formats: * .jpg, * .png, * .gif up to 5 MB
Disclosure of Risks: Fusion Media assumes no liability for any loss or damage arising from reliance on the information contained on this website, including data, quotes, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible. Margin Forex trading carries a high level of risk and is not suitable for all investors. Trading or investing in cryptocurrencies carries potential risks. Cryptocurrency prices are extremely volatile and can be influenced by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade forex or other financial instruments or cryptocurrencies, you should carefully weigh your investment goals, experience, and risk appetite. Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) as well as forex and cryptocurrency prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data. Fusion Media may be compensated by the advertisers who appear on the site based on your interaction with the advertisements or advertisers
Donnez votre point de vue et aboonez-vous!
Votre point de vue compte, donnez votre avis
[maxbutton id= »1″]