5 things to know before the stock market opens March 23, 2020

1. Dow set to fall as Wall Road awaits stimulus action in Washington

A pedestrian passes by the New York Stock Exchange ,NYSE, in New York, the United States, March 17, 2020.

Michael Nagle | Xinhua News Company | Getty Photographs

U.S. inventory futures were being pointing to a 500-stage decline for the Dow Jones Industrial Common at Monday’s open on Wall Street. Futures hit their 5% “limit down” right away as a huge coronavirus funding deal unsuccessful a key Senate procedural vote Sunday. The Dow tanked an additional 900 details or 4.5% on Friday, bringing the weekly decline to around 17% for the worst week since the 2008 monetary crisis. Ahead of Monday’s session, the Dow was off additional than 35% from very last month’s history highs. The New York Inventory Exchange’s buying and selling ground will be shut starting off Monday. The NYSE will go to fully electronic buying and selling. The 10-yr Treasury produce, which popped back higher than 1% past 7 days, was under that amount early Monday.

2. Democrats block coronavirus monthly bill more than absence of employee protections

WASHINGTON, D.C. – APRIL 20, 2018: The United States Capitol in Washington, D.C., typically identified as the Capitol Making, is the household of the United State Congress and the seat of the legislative department of the U.S. federal govermnent. (Picture by Robert Alexander/Getty Photos)

Robert Alexander

Top-stage White House and congressional negotiators burned the midnight oil over the now-almost $2 trillion coronavirus rescue offer. Democrats blocked the bill in Sunday’s vote, declaring it did way too substantially to bail out companies and not sufficient to aid employees. Quite a few GOP senators, which includes Rand Paul, who examined constructive for the coronavirus, were being not existing to vote. Other folks, this kind of as Mitt Romney, were being in quarantine as a precaution. The Federal Reserve and Treasury are doing the job on financing programs that could be really worth $4 trillion. Goldman Sachs upgraded shares of Boeing, which is hoping for a bailout. Boeing inventory has dropped 80% from current highs on the dual crises of the outbreak and the grounding of its 737 Max.

3. Trump activates National Guard in three states

US President Donald Trump (C), flanked by US Vice President Mike Pence (2nd L), and other associates of the coronavirus endeavor pressure, speaks throughout the day-to-day briefing on the novel coronavirus, COVID-19, at the White House on March 22, 2020, in Washington, DC.

Eric Baradat | AFP | Getty Pictures

The United States has the third most coronavirus situations in the earth, with around 35,000 and 471 fatalities, in accordance to Johns Hopkins University data. A lot more than 50 % the U.S. circumstances are in New York, the place the dying toll greater to 153. Washington point out has the second-most cases, with practically 2,000 confirmed and 95 fatalities. New Jersey, California and Illinois spherical out the top rated 5 states. President Donald Trump on Sunday activated the Countrywide Guard in New York, Washington condition and California in buy to fight the unfold of the coronavirus. New York strategies to operate a clinical demo, starting Tuesday, of a procedure regimen of antimalarial hydroxychloroquine and antibiotic azithromycin, a drug cocktail that has demonstrated assure in battling the coronavirus.

4. Italy’s demise toll spikes to more than 5,400 as Germany’s chancellor goes into quarantine

International coronavirus situations topped 343,000, with 14,789 deaths and about 98,800 recoveries. China, where the outbreak begun in December, still has the most conditions at over 81,400. China’s 3,274 deaths are second to Italy’s 5,476 deaths. Italy is next in complete cases at above 59,100. The U.S., Spain and Germany spherical out the major 5 countries. German Chancellor Angela Merkel went into quarantine more than the weekend after get hold of with a health care provider who examined beneficial for the virus. The German authorities is set to unveil big stimulus actions. Pressure mounts to cancel the Tokyo summertime Olympics, established to commence at the conclude of July. Canada stated it won’t mail teams to compete. Local media reviews show that Japanese Primary Minister Shinzo Abe is considering a delay.

5. Cisco commits virtually a quarter-billion dollars to guide in prevention

Cisco Techniques is committing $225 million to help in initiatives aimed at combating the coronavirus whilst the rest of Silicon Valley also initiates an investment blitz. 3M stated it will offer New York and Seattle with a half-million N95 respirator masks to handle the ongoing shortage of overall health-treatment machines. Merck reported it will provide New York Town with a half-million masks. Chinese billionaire and Alibaba founder Jack Ma sent to Africa 5.4 million encounter masks, around 1 million screening kits, 40,000 sets of protective garments and 60,000 protecting encounter shields. BlackRock is committing $50 million in outbreak relief.

— The Connected Push contributed to this report.

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