5 things to know before the stock market opens on Wednesday, March 23rd

Here are the key news, trends and analyzes that investors need to start their trading day:

Stock futures fall, a day after Wall Street resumed its recovery

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 21, 2022.

Brendan McDermid | Reuters

2. Modern vaccine for children under 6 years of age was up to 44% effective against omicron

With her husband Stephen by her side, Erin Shih hugs her children Avery 6 and Aidan, 11, after receiving their second Moderna COVID-19 vaccine at Kaiser Permanente Los Angeles Medical Center on Friday, June 25, 2021.

Sarah Reingewirtz | MediaNews Group | Getty Images

Modern’s two-dose Covid vaccine was about 44% effective in preventing infection from the omicron variant in children 6 months to under 2 years of age and about 38% effective in children aged 2 years to 5 years, according to data released by the company on Wednesday. None of the children developed serious illness and the majority of the breakthrough cases were mild. Moderna plans to ask the Food and Drug Administration to grant emergency use of the vaccine to children under 6 years of age as soon as possible.

3. One of the black boxes found from a Boeing plane crash in China

The photo taken with a mobile phone shows pieces of the wreckage of a crashed passenger plane found at the crash site in Tengxian County, the southern Chinese autonomous region of Guangxi Zhuang, on March 22, 2022.

Zhou Hua | Xinhua News Agency | Getty Images

One of the two black boxes from Monday’s China Eastern Airlines plane crash has been found, Chinese state media reported on Wednesday. Officials said the black box was “severely damaged,” and it was hard to say whether it was the one recording flight data or cockpit communications with air traffic controllers. A Boeing 737-800 jet with 132 people dived Monday in a rural, mountainous part of the southern region of Guangxi. While China has not confirmed any fatalities, authorities said late Tuesday that rescue workers have not found any survivors.

4. DOT reveals infrastructure grants; CEOs need to testify to chip shortages

Secretary of the Department of Transport Pete Buttigieg comments on new transportation initiatives at an event with U.S. Vice President Kamala Harris at the South Court Auditorium in the Eisenhower Executive Office Building on March 7, 2022 in Washington, DC.

Anna Moneymaker | Getty Images

Transport Minister Pete Buttigieg said on Wednesday that the administration was ready to hand out $ 2.9 billion in grants for state and local infrastructure projects, such as highway, bridge, freight, port and public transportation expansions and repairs. The money is part of the $ 1 trillion infrastructure bill that Biden signed into law four months ago.

Signage at the entrance to Intel’s headquarters in Santa Clara, California, USA, Tuesday, October 19, 2021.

David Paul Morris | Bloomberg | Getty Images

The executives of the US semiconductor giants Intel and Micron are due to testify before the Senate Commerce Committee on Wednesday to bring the case for $ 52 billion in US subsidies for chip manufacturing. A persistent shortage of chips in the industry has disrupted production in the automotive and electronics industries.

5. GameStop hovers as the company’s chairman of the board buys more shares

A GameStop venue in New York, December 23, 2021.

Scott Mlyn | CNBC

GameStops shares, which rose nearly 31% on Tuesday, rose another 12.5% ​​in pre-market trading on Wednesday after video game retailer chairman Ryan Cohen bought an additional 100,000 shares. The acquisition brings his ownership up to 11.9% as the activist investor who also co-founded online pet store Chewy is trying to move GameStop to e-commerce. Two weeks ago, Cohen revealed a large stake in Bed Bath & Beyond and pushed for a turnaround there. Both Bed Bath & Beyond and GameStop have experienced sharp rises and losses in the meme stock craze over the past 15 months or so.

– CNBC reporters Yun Li, Thomas Frank, Spencer Kimball and Evelyn Cheng as well as The Associated Press and Reuters contributed to this report.

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