1. Dow to drop as tech pauses, reopen stocks stumble
The S&P 500 gained 1.6%. The Nasdaq rose 2.2% to close at another record high, also with a tailwind from shares of Amazon, which hit an all-time high and broke above $3,000 each. In Tuesday’s premarket, tech stocks took at pause. Many of the so-called reopening stocks, such as airlines and cruise lines, were lower.
Novavax was a big winner in Tuesday’s premarket trading, with shares rocketing over 35% higher after the federal government gave the biotech firm $1.6 billion for development of a potential coronavirus vaccine. The award is the biggest yet from the White House’s program to accelerate progress towards Covid-19 vaccines and…