Here are the top news, trends, and analysis investors need to get their trading day started:
1. Dow is expected to fall after Friday’s record high
Traders work on the trading floor of the New York Stock Exchange.
NYSE
2. Move house to remove Trump
House Speaker Nancy Pelosi (D-CA) speaks to reporters during a press conference in Washington on January 7, 2021, the day after the Capitol was occupied by supporters of US President Donald Trump.
Erin Scott | Reuters
The House Democratic leadership will seek a vote on a resolution calling on Vice President Mike Pence and cabinet officials to invoke the 25th amendment to remove President Donald Trump from office. A full vote in the House of Representatives is expected on Tuesday. After that, Pence and the cabinet would have 24 hours to act before the House headed for impeachment. Two Republican senators – Pat Toomey from Pennsylvania and Lisa Murkowski from Alaska – said Trump must leave as soon as possible.
3. JPMorgan, Citigroup to stop political donations
Jamie Dimon, CEO of JPMorgan Chase & Co., second from left, listens during a House Financial Services Committee hearing in Washington, DC, USA on Wednesday April 10, 2019.
Andrew Harrer | Bloomberg | Getty Images
JPMorgan Chase and Citigroup are among the first major financial firms to pledge to pause political action committee donations after Trump supporters stormed the U.S. Capitol last week. Spurred on by Wednesday’s uprising that resulted in five deaths, other companies, including Marriott and the Blue Cross Blue Shield, said they would stop giving money to Republican lawmakers who supported efforts to confirm President-elect Joe Biden’s victory disturb.
4. Twitter shares fall after Trump tweets ban
A person monitors the suspended account of Donald Trump, President of the United States of America, on Twitter on January 9, 2021.
Florian Gaertner | Photo library | Getty Images
Twitter shares fell more than 6% in premarket trading after the social network finally suspended Trumps @ realDonaldTrump account. Twitter said Friday it had taken action amid threats of further incitement to violence following the siege of the Capitol on Wednesday. Also last week, Facebook and its Instagram unit suspended the outgoing president’s accounts indefinitely.
A general view of the Parler app icon displayed on an iPhone in London, England on January 9, 2021.
Hollie Adams | Getty Images News | Getty Images
Apple’s Google and Alphabet removed Parler from their app stores, and Amazon Web Services suspended the right-wing extremist-favored social media operation after some rioters used the service to promote the Capitol attack. “We’ll likely be out longer than expected,” Parler CEO John Matze said in a statement. “Most people with enough servers to host us have closed their doors on us.”
5. Study with Lilly Alzheimer’s promising drug; Gilead increases guidance for the full year
The Eli Lilly logo will be displayed in one of the company’s offices in San Diego, California on September 17, 2020.
Mike Blake | Reuters
Eli Lilly’s shares rose 13% in premarket trading after the US pharmaceuticals company said Monday a study of its experimental Alzheimer’s drug Donanemab showed that it switched the rate of decline of a combined measure of early-stage cognition and function about a third slowed victims of the disease.
A lab technician inspects filled vials of the drug remdesivir used to treat coronavirus disease (COVID-19) at a Gilead Sciences facility in La Verne, California.
Gilead Sciences Inc | Reuters
Gilead Sciences shares rose more than 1% in the pre-market after the company raised its full-year profit forecast as the recent revival in coronavirus cases increased demand for its Covid-19 treatment, remdesivir. The antiviral drug currently approved to treat Covid patients around the world was one of the drugs used to treat Trump’s coronavirus infection this fall.
– CNBC’s Associated Press, Reuters and Peter Schacknow contributed to this report. Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.
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