1. Stock futures rally as Wall Street tries to bounce back from first loss in eight sessions
US stock futures looked sharp Wednesday as traders attempted to recover from a tech-led pullback in the previous session. The futures of the Dow Jones Industrial Average were up 261 points, or almost 1%. S&P 500 futures rose 0.7% and Nasdaq 100 futures gained 0.9%. The S&P 500 snapped up a seven-day winning streak in the previous session as tech stocks such as Microsoft, Facebook and Apple all struggled. These declines came when the S&P 500 tried to reach its February 19 record.
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2. US reaches deal with Moderna to buy 100 million doses of coronavirus vaccine, Trump says
President Donald Trump said late Tuesday that the US will buy 100 million doses of Moderna’s experimental coronavirus vaccine. “We are investing in the development and manufacturing of the top six vaccine candidates to ensure prompt delivery,” Trump said. Moderna said the deal is worth $ 1.53 billion and gives the government the option to purchase an additional 400 million doses. Modern shares rose more than 11% in the premiere on the news.
Moderna CEO Stephane Bancel attended the 2019 Forbes Healthcare Summit at the Jazz at Lincoln Center on December 5, 2019 in New York City.
Steven Ferdman | Getty Images
3. Tesla announced 5-for-1 stock split
Tesla shares jumped more than 6% in the premarket after the electric carmaker announced a 5-for-1 stock split. The split will take effect at the end of August 31st. While a stock split does nothing to change the value of the company in the market, it theoretically makes it more affordable for small investors to buy the stock. Tesla shares have been on fire this year, with more than 228% growth.
Elon Musk is at the groundbreaking ceremony of the Tesla Gigafactory in Shanghai, east China on January 7, 2019.
Ding Ting | Xinhua News Agency | Getty Images
4. Joe Biden grabs Kamala Harris as his running mate
Democratic presidential candidate Joe Biden announced Tuesday that his running mate will be Sen. Kamala Harris, making her the first black woman to appear on a major party card. Some Wall Street executives cheered the decision. For example, Marc Lasry, CEO of Avenue Capital Group and co-owner of the NBA’s Milwaukee Bucks, said Harris “Joe will help tremendously. He has chosen the perfect partner.” President Donald Trump also responded to the news, tweeting Wednesday that Harris “is the kind of opponent everyone dreams of.”
Democratic presidencies hope former Vice President Joe Biden (L) and California Senator Kamala Harris greet each other ahead of the second round of the second Democratic primary debate of the 2020 presidential championship hosted by CNN at the Fox Theater in Detroit, Michigan on July 31, 2019.
Jim Watson | Getty Images
5. Greg Abbott says that situation in coronavirus in Texas needs to improve before bars can reopen
Texas Abgott Greg Abbott said the outbreak of coronavirus in the state needs to be curtailed before bars can reopen. He said if the state’s positivity rate returned to a low level, “well below” 10%, “then beams may return.” Abbott warned, however, that Texas “must be awake at this point” and that the coronavirus “has not left the state of Texas.”
Texas Gov. Greg Abbott announces the reopening of more Texas businesses during the COVID-19 pandemic at a press conference at the Texas State Capitol in Austin on Monday, May 18, 2020.
Lynda M. Gonzalez-Pool | Getty Images
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