Here’s what you need to know to navigate the markets today.
• Stocks are set to open up on Monday morning, buoyed by March’s better-than-expected employment report of 916,000 nonfarm payroll jobs, and unemployment rate drop to 6%. On Sunday night, Dow Jones Industrial Average futures jumped 139 points, or 0.4%, while the S&P 500 rose 0.4% and Nasdaq Composite futures increased 0.1%. Companies reporting earnings this week include:
Lamb Weston Holdings
on Wednesday, and Conagra Brands,
on Thursday. In economic events, the Federal Reserve’s monetary policy committee releases its March meeting minutes on Wednesday, and Federal Reserve Chairman Jerome Powell and International Monetary Fund Managing Director Kristalina Georgieva discuss the global economy at an event on Thursday.
• Amazon has apologized for a tweet mocking claims that workers sometimes have to urinate in bottles during shifts, following media reports that the company was aware of the practice. On March 24,
Rep. Mark Pocan
(D., Wis.) wrote on Twitter: “Paying workers $15/hr doesn’t make you a ‘progressive workplace’ when you union-bust & make workers urinate in water bottles.” Amazon responded, “You don’t really believe the peeing in bottles thing, do you? If that were true, nobody would work for us.”
On Friday, Amazon apologized to Pocan in a blog post. “We know that drivers can and do have trouble finding restrooms because of traffic or sometimes rural routes, and this has been especially the case during Covid when many public restrooms have been closed.” It added, “This is a long-standing, industry-wide issue and is not specific to Amazon.” On March 25, The Intercept posted company memos and emails revealing that Amazon was aware of the practice. Employees at a warehouse in Bessemer, Alabama, are awaiting the results of their vote on whether to form a union to collectively bargain for higher wages and better working conditions.
• Johnson & Johnson’s one-shot Covid-19 vaccine has become the preferred vaccine among groups that work with homeless and transient populations. Before the J&J shot was available, groups that work with the homeless such as the Night Ministry in Chicago had administered the two-dose Moderna vaccine, only to have trouble tracking people down for their second dose a month later. Organizations in California, Maryland and Tennessee are also taking doses of J&J’s vaccine into tent encampments, shelters and subways to get people vaccinated, as the numbers of people facing unstable housing and food insecurity continues to soar during the pandemic.
About 3.8 million doses of Johnson & Johnson vaccine, which was approved for emergency use in the U.S. on Feb. 27, have been administered, versus 75 million doses of Moderna and 83 million of the
drug, according to the Centers for Disease Control and Prevention. A manufacturing mistake caused 15 million doses of the J&J vaccine to be discarded last week, but the company has said it would deliver an additional 75 million doses by the end of May.
• Canada’s three largest provinces have restarted lockdowns amid a third coronavirus wave there as total virus infections have topped 1 million. On Saturday, Ontario ordered a four-week lockdown, closing beauty salons, indoor dining, sporting activities and public events, and limiting indoor gatherings to five people. Quebec has closed its schools and shut down nonessential businesses while British Columbia has closed indoor restaurant dining and gyms through April 19. Canada’s average number of new cases has climbed 40% over the past week…