Earnings are front and center, as investors look to justify the recent rise in stock prices with the profits needed to keep the market fueled in this recovery. On average analysts are expecting profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.
VIRUS OUTBREAK-WHITE HOUSE
White House says vaccine has ‘never been easier’
WASHINGTON (AP) — The White House says “it has never been easier” to get a COVID-19 vaccine shot as all people 16 and older are eligible for vaccines nationwide as of Monday.
President Joe Biden is encouraging people to book appointments immediately and to encourage family and friends to do the same.
Says Biden: “You need to be protected, and you need in turn to protect your neighbors and your family.”
On Sunday the country reached the milestone of having 50% of adults at least partially vaccinated.
India’s capital to lock down amid explosive virus surge
NEW DELHI (AP) — New Delhi has imposed a weeklong lockdown to prevent the collapse of the Indian capital’s health system amid an explosive surge in coronavirus cases.
Authorities said Monday that hospitals have been pushed to their limit. In scenes familiar from surges elsewhere, ambulances catapulted from one hospital to another, trying to find an empty bed over the weekend, while patients lined up outside. Ambulances also idled outside of crematoriums.
In an effort to combat the crisis, India announced that it would soon expand its vaccination campaign to all adults. Just months after India thought it had seen the worst of the pandemic, an expert said the virus is now spreading at a rate faster than at any other time.
Foxconn, Wisconsin reach new deal on scaled back facility
MADISON, Wis. (AP) — Foxconn Technology Group has reached a new deal with reduced tax breaks for its scaled back manufacturing facility in southeast Wisconsin.
Gov. Tony Evers and the world’s largest electronics manufacturer announced the new deal on Monday. Details of the new agreement were not immediately released. A person with knowledge of the new contract who was not authorized to speak publicly about the deal said Monday that it will reduce the potential tax breaks by billions of dollars and still have potential tax breaks worth more than $10 million for the company. It was scheduled to be approved at a Tuesday meeting of the Wisconsin Economic Development Corp.
The original deal with nearly $4 billion in state and local tax incentives was struck in 2017 by then-Gov. Scott Walker.
Federal agencies probe fatal Tesla crash near Houston
HOUSTON (AP) — Two federal agencies are sending teams to investigate the fatal crash of a Tesla near Houston in which local authorities say no one was behind the wheel.
The National Highway Traffic Safety Administration and the National Transportation Safety Board said Monday they will send investigation teams to Spring, Texas, to look into the fiery Saturday night crash. Two men were killed.
Harris County Precinct Four Constable Mark Herman says investigators are “100% sure” that no one was driving the Tesla that ran off a residential road, hit a tree and burst into flames. But they’re still trying to determine whether the electric car was in full self-driving mode.
Union accuses Amazon of illegally interfering with vote
NEW YORK (AP) — The retail union that failed to organize Amazon workers at a Bessemer, Alabama, warehouse wants the results of a recent vote to be thrown out, saying that the company illegally interfered with the process.
The Retail, Wholesale and Department Store Union said in a filing that Amazon threatened workers with layoffs and even the closing of the warehouse if they unionized.
Many of the other allegations revolve around a mailbox that Amazon installed in the parking lot of the warehouse, which the union said created the false appearance that Amazon was conducting the election.
Amazon said it did not threaten layoffs and said the mailbox was installed to make it easier for employees to vote and that only the U.S. Postal Service had access to it.
Coke sales rebound as vaccinations roll out and venues open
UNDATED (AP) — Coca-Cola Co. says its sales are steadily improving as vaccination rates increase and restaurants and offices reopen around the world.
The company said its sales rose 5% in the January-March period this year, helped by strong growth in China and India. But the recovery is uneven. Case volumes declined in North America and Europe, where many dining rooms and other venues remain closed.
Atlanta-based Coke said its net income dropped 19% to $2.2 billion in the first quarter. Excluding one-time items, the company earned 55 cents per share. That exceeded Wall Street’s forecast. Coke’s revenue rose 5% to $9.0 billion.
Leadership shakeup continues at GameStop, CEO to depart
UNDATED (AP) — The overhaul in the top ranks of GameStop continues with the announced departure of CEO George Sherman at the end of July.
Company shares rose more than 8% before the opening bell Monday.
Less than two weeks ago the Texas company announced the nomination of Chewy founder Ryan Cohen as chairman of the board, a major investor in the floundering video game retailer. Cohen had been buying huge stakes in the company and pushing for a digital transformation. GameStop has suffered as more gamers turn to digital downloads rather than the discs the chain sells on its shelves.
Winners of $20M contest make concrete to trap carbon dioxide
CHEYENNE, Wyo. (AP) — There are two winners of a $20 million contest to make products from carbon dioxide emitted by power plants. Both made concrete that trapped the greenhouse gas so it can’t contribute to climate change.
XPRIZE organized the contest at a coal-fired plant in Wyoming and a gas-fired plant in Alberta. XPRIZE announced Monday that Los Angeles-based CarbonBuilt and Dartmouth, Nova Scotia-based CarbonCure Technologies will share $15 million. The other $5 million went to 10 finalists in 2018.
On Thursday, XPRIZE will launch a $100 million contest backed by entrepreneur Elon Musk to capture vast amounts of carbon dioxide straight from the atmosphere.