SQUAWK BOX, FRIDAY 12TH MARCH, 2021

President Biden signs the $1.9tn stimulus bill and in a prime time TV address he unveils the roadmap out of lockdown, urging eligible Americans to take the vaccine where possible. U.S. equities react positively with both the Dow and S&P 500 hitting new highs. Shares in South Korean web retail giant Coupang rally up to 40 per cent after the company lists on the NYSE - Wall Street’s largest listing so far this year. Coupang now has a market cap of $84bn. In further IPO news out of Asia, China’s Baidu is eyeing a secondary flotation in Hong Kong while Singaporean ride-hailing and delivery app Grab is set to go public through a SPAC. Meanwhile, there is renewed tension between Brussels and AstraZeneca as the company will reportedly miss already reduced delivery targets to the bloc.