U.S. stocks fell for a second straight day yesterday as strong corporate earnings failed to boost a market already near record highs, while an alarming rise in global Covid cases raised concerns about the global recovery.  Reopening plays such as airlines, hotels, and cruise line operators led losses.
 
Shares of Johnson & Johnson are higher following better-than-expected earnings.  The company also reported $100 million in first-quarter sales of their Covid-19 vaccine that’s on hold in the U.S. while health regulators investigate a rare blood-clotting issue.

Apple held their first product launch event of the year yesterday.  New high-end iPad Pro models lead Apple’s hardware product announcements. During the pandemic, Apple saw big iPad sales growth as consumers looked for new computers and tablets so they could go to work or school from home.  Apple also previewed their iOS 14.5, a significant update to the iPhone software that includes new emojis, features to make unlocking your phone with a mask easier and a privacy update that could upend the mobile advertising industry.  It’s expected to be released in the next few weeks.