One-Year Bull Market Anniversary, AstraZeneca Roller Coaster, Combating Wokplace Malaise: Citi’s Zoom Free Fridays, Goldman CEO Address Junior Bankers’ Complaints

David Faber and Jim Cramer discuss the slump in stocks on the one-year bull market anniversary. Treasury yields ebbing lower following prepared remarks from Federal Reserve Chairman Powell for a congressional hearing this afternoon. Powell warning, “The recovery has progressed more quickly than generally expected and looks to be strengthening. But the recovery is far from complete, so, at the Fed, we will continue to provide the economy the support that it needs for as long as it takes.” AstraZeneca falling in a rare statement released just hours after the company announced positive results from its late-stage U.S. trials, an independent monitoring board told U.S. health officials that the drug maker may have given incomplete efficacy data from its COVID-19 vaccine trial. A junior banker survey goes viral at Goldman Sachs, CEO David Solomon addressed the complaints. Plus, Citigroup’s new CEO Jane Fraser barring internal video calls on Fridays and encouraging vacations in a big effort to combat work from home malaise. David and Jim dig through the big movers of the morning. ViacomCBS shares getting slammed after the company said it will raise $3 billion from stock offerings, following a recent runup in its stock price. The media company will sell $2 billion in class B common shares and $1 billion in mandatory convertible preferred shares. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.