March Begins In Rally Mode, J&J Starts Shipping Its COVID-19 Vaccine, ExxonMobil Board Shakeup, Buffett Admits To A “Mistake”, And Citi's New CEO Makes History

Squawk on the Street

On the first trading day of March, Carl Quintanilla, Jim Cramer and David Faber took an in-depth look at a big stock market rally to begin the month as bond yields pulled back. Johnson & Johnson also in the spotlight as the company began shipping its one-shot COVID-19 vaccine, which received regulatory approval for emergency use in the U.S. The anchors reacted to what J&J Chairman & CEO Alex Gorsky had to say about how many doses could be delivered in the U.S. by June. ExxonMobil shares rise on news that David broke: Activist investor Jeffrey Ubben and Atairos CEO Michael Angelakis have joined the oil giant's Board of Directors. Also in focus: Warren Buffett admits to a "mistake" in his annual letter to Berkshire Hathaway shareholders, and Jane Fraser takes over as CEO of Citigroup -- becoming the first woman to run a major U.S. bank.