Here are the top news, trends, and analysis investors need to get their trading day started:
1. Dow, S&P 500 and Nasdaq aim to hit record highs
Traders work on the trading floor of the New York Stock Exchange.
2. Bitcoin hit a new high of over $ 50,000
In this photo illustration, a visual representation of the digital cryptocurrency, Bitcoin can be seen in Paris, France on February 9, 2021, ahead of the Bitcoin rate graph.
Chesnot | Getty Images
Bitcoin hit a new record high on Tuesday, surpassing $ 50,000 per unit for the first time, before reducing some of those gains. Big firms announced support for digital currencies last week, starting with Tesla, which announced it had bought $ 1.5 billion worth of Bitcoin. Mastercard announced on Thursday that it would support certain cryptocurrencies later this year, while BNY Mellon announced the following day that it would open its custody services to digital assets. Bitcoin more than quadrupled in 2020 and is up over 60% since the start of the year.
3. Freezing in Texas causes massive energy crisis
Cattle shelter from the cold wind on the side of a pump jack array Saturday February 13, 2021 in Midland, Texas.
Eli Hartman. | Odessa American | AP
More than 3.8 million households in Texas were in the dark Tuesday morning as record temperatures increased electricity needs for heat, which pushed the state’s power grid to its limits. Texas has imposed rolling power outages that typically occur on 100-degree summer days. The power shortage was so great that spot prices for wholesale power in the Texas power grid rose by more than 10,000% on Monday. US oil prices also rose to a pandemic high of over $ 60 a barrel. The cold weather was part of a massive winter explosion that brought snow, sleet, and freezing rain to the southern plains across parts of the Ohio Valley and the northeast.
4th Congress to establish a Capitol Insurrection Commission
House Speaker Nancy Pelosi (D-CA) speaks about instigating the fatal attack on the U.S. Capitol in Washington during a press conference with the House’s impeachment executives on the fifth day of the impeachment trial of former U.S. President Donald Trump. USA, February 13, 2021.
Al Drago | Reuters
House spokeswoman Nancy Pelosi said Monday that Congress will set up a 9/11-style independent commission to deal with last month’s deadly riot in the U.S. Capitol. The investigation into the riots was already planned. The Senate hearings in the Regulatory Committee are scheduled for later this month.
Impeachment attorneys, who voted in favor of Donald Trump’s conviction of inciting the attack, said Sunday they had proven their case. Democrats also railed against Senate GOP leader Mitch McConnell and other Republicans, saying they were trying “both” by finding the former president not guilty while criticizing him.
5. Biden to make first official domestic trips
President Joe Biden speaks about his Covid-19 relief plan during a meeting with a non-partisan group of governors and mayors on February 12, 2021 in the Oval Office of the White House in Washington, DC.
Almond Ngan | AFP | Getty Images
Biden is trying to move beyond Trump’s acquittal in last week’s impeachment and plans to keep a busy coronavirus schedule for the coming week. Biden will make his first official domestic tours of his presidency, beginning at a CNN city hall in Wisconsin on Tuesday, to speak to Americans affected by the pandemic. Biden then visits a Pfizer Covid vaccine facility in Michigan on Thursday as the drugmaker’s and Moderna’s two-shot regimen penetrate more pharmacies across the country.
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