5 issues it’s best to know earlier than the inventory market opens on January 26, 2021

Here are the top news, trends, and analysis investors need to get their trading day started:

1. S&P 500 will be set for a higher open after the record close on Monday

Traders on the floor of the New York Stock Exchange

Source: The New York Stock Exchange

US stock futures were higher on Tuesday as Wall Street examined a series of quarterly financial reports before the bell during the busiest week of earnings season. The S&P 500 and the Nasdaq closed at record highs on Monday. The Dow Jones Industrial Average fell slightly for the third straight year, but remained below Wednesday’s closing record of less than 1%.

The GameStop short-squeeze craze continued after the stock more than doubled at a point on Monday before closing 18% higher. In Tuesday’s premarket trade, the video game seller contributed around 15% to the stock’s year-to-date increase of over 300%. Short sellers fell $ 91 billion in January as GameStop pressures the stocks they are betting against.

Etsy stocks surfaced Tuesday morning after Tesla CEO Elon Musk sent a tweet about the e-commerce company. Etsy’s stock rose about 8% in the pre-market after Musk’s tweet that said, “I kind of love Etsy.” The e-commerce company wasn’t moving at all on the pre-market prior to Musk’s early morning call. It is now the biggest winner in the S&P 500 when the market opens.

Janet Yellen, a former Fed chief with a reputation for consensus-building, is the country’s first female Treasury Secretary. Yellen was confirmed by the Senate on Monday. She is now in charge of the agency tasked with supporting President Joe Biden’s $ 1.9 trillion Covid stimulus plan, which has already been under fire by Republicans.

2. The busiest week of earnings season starts with 5 Dow stocks

3. Biden hopes Covid vaccinations can reach 1.5 million per day

President Joe Biden makes remarks before signing a “Made in America” ​​executive order on January 25, 2021 in the Auditorium of the South Court at the White House in Washington, DC.

Jim Watson | AFP | Getty Images

The US could achieve 1.5 million Covid vaccinations per day, Biden said on Monday, surpassing its previously targeted pace of 1 million per day, which the Trump administration has almost reached. Biden has pledged to give 100 million shots of coronavirus vaccine in his first 100 days in office.

As the US daily new infections and deaths decreased from record highs recently, the search for new strains of the virus intensified. Minnesota confirmed the first known US case of the contagious variant originally found in Brazil. There have been cases of the strain found in Great Britain in the US, but none of the variants discovered in South Africa.

4. Senators to be sworn in for impeachment against Trump

Senate Minority Chairman Charles Schumer (D-NY) (L) and Senate Majority Leader Mitch McConnell (R-KY) walk side by side to the Senate Chamber in the U.S. Capitol on February 7, 2018 in Washington, DC.

Chip Somodevilla | Getty Images

The senators will be sworn in as a jury member on Tuesday in the impeachment trial of former President Donald Trump, which is expected to begin the week of February 8th. Parliament on Monday tabled its impeachment article against Trump for inciting a riot in the Capitol earlier this month. Trump has taken no responsibility for the January 6 uprising of his supporters who tried to prevent Congress from voting to confirm Biden’s election victory.

Republican Senate Chairman Mitch McConnell backed his call for Senate Democrats to retain the procedural tool known as filibuster and eased the stalemate with new majority leader Chuck Schumer as the two negotiated a power-sharing deal in the tightly-divided chamber.

5. Apollo CEO paid sex predator Jeffrey Epstein $ 158 million for financial advice

Leon Black, Chairman, CEO and Director of Apollo Global Management, LLC, speaks at the Milken Institute’s 21st Global Conference on May 1, 2018 in Beverly Hills, California.

Lucy Nicholson | Reuters

Apollo Global Management’s Leon Black paid Jeffrey Epstein $ 158 million for financial advice from 2012 to 2017, despite knowing that Epstein pleaded guilty to sexually abusing an underage girl in 2008. This is the result of an investigation by a law firm commissioned by Apollo. The investment firm also said the investigation found no wrongdoing by Black or the company. However, Black said he would retire as CEO by the end of July. He plans to remain chairman of the company he co-founded with Marc Rowan who becomes CEO.

– The Associated Press contributed to this report. Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.

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