5 things to know before the stock market opens Monday – CNBC

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Stock futures mixed as Tesla kicks off tech earnings

Traders on the floor of the New York Stock Exchange.

Source: NYSE

U.S. stock futures were mixed ahead of an onslaught of tech earnings this week, starting with Tesla after Monday’s closing. A third of S&P 500 companies are set to report quarterly results in the final week of April, including Apple, Microsoft, Amazon, Facebook and Google-parent Alphabet. Last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq broke multiweek winning streaks with modest losses despite Friday’s rally.

  • Shares of Tesla — down 19% since January’s all-time high of $900.40 — were flat in the premarket ahead of Monday afternoon’s earnings. Its stock was still up nearly 3.4% year to date and incredibly over 415% in the past 12 months.
  • Bitcoin was popping more than 8% to nearly $54,000 early Monday. Last week, the world’s biggest cryptocurrency slumped under $50,000 after its all-time high near $65,000 on April 14 on growing adoption from institutional investors and companies including Tesla.
  • Apple announced Monday plans to open a new campus in the Raleigh, North Carolina, area. The tech giant will spend over $1 billion on the complex and employ 3,000 people.

2. March durable goods orders weak as Fed prepares to meet

An operator stacks heavy gauge steel brace used for industrial workbench leg at Tennsco’s factory in Dickson, Tennessee, U.S. February 17, 2021.

Tennsco | via Reuters

On Monday’s economic calendar, the government reported durable goods orders for March rose just 0.5%. Economists had expected an increase of 2.2% after February’s upwardly revised 0.9% decline. The Federal Reserve holds its April policy meeting Tuesday and Wednesday. Central bankers are not expected to take any action but are likely to defend their willingness to let inflation run hot. Thursday, the government is set to deliver its initial look at first-quarter gross domestic product.

3. Biden to detail his American Families Plan, tax increases

U.S. President Joe Biden speaks about his $2 trillion infrastructure plan during an event to tout the plan at Carpenters Pittsburgh Training Center in Pittsburgh, Pennsylvania, March 31, 2021.

Jonathan Ernst | Reuters

President Joe Biden is expected this week to detail his American Families Plan and the tax increases to pay for it, including a much higher capital gains tax for the wealthy. The plan is the second part of his Build Back Better agenda and will include new spending proposals aimed at helping families. According to a new NBC News poll, 59% believe Biden’s infrastructure plan is a good idea. The president overall carries a 53% job approval rating into Wednesday evening’s address to a joint session of Congress.

4. U.S. lifts pause on J&J Covid vaccine, clearing states to use

Johnson & Johnson’s Janssen COVID-19 Vaccine is stored for use with United Airlines employees at United’s onsite clinic at O’Hare International Airport on March 09, 2021 in Chicago, Illinois.

Scott Olson | Getty Images

States began administering Johnson & Johnson‘s one-dose Covid vaccine over the weekend, after federal regulators Friday evening lifted a pause in the U.S., which was recommended on April 13 “out of an abundance of caution” on reports that six women, ages 18 to 48, developed a rare blood clotting disorder.

Sanofi will fill and pack millions of Moderna Covid vaccine in an effort to help meet demand for the two-dose inoculation. Sanofi said it will help supply up to 200 million doses of the vaccine at its Ridgefield facility in New Jersey. Financial details of the arrangement were not disclosed. In January, Sanofi pledged to help supply Pfizer‘s two-shot vaccine.

5. India reports record Covid cases for a fifth straight day

A health worker wearing personal protective equipment (PPE) carries a patient suffering from the coronavirus disease (COVID-19) outside the casualty ward at Guru Teg Bahadur hospital, in New Delhi, India, April 24, 2021.

Adnan Abidi | Reuters

India reported 352,991 new Covid cases Monday, a fifth straight 24-hour period of record highs. At least 2,812 people died in a single day, which pushed total fatalities to over 195,000. Media reports suggest the official national death toll is likely undercounted.

The Biden administration said it will immediately make raw materials needed for India’s coronavirus vaccine production available, reciprocating help India provided when U.S. hospitals were strained early in the pandemic. The U.S. will also send therapeutics, rapid diagnostic test kits, ventilators and protective equipment.

— Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.