5 things to know before the stock market opens Monday, Oct. 4
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Investors need the following news, analysis and trends to help them start trading:
1. Dow futures declined after an October rally that began with strong numbers
Traders in New York City work at the New York Stock Exchange (NYSE), on September 29, 2021.
Brendan McDermid | Reuters
U.S. stock futuresAfter a difficult week that saw a strong rally the first day, Monday’s fall was modest. It was the Dow Jones Industrial AverageWith an increase of 482 point, or 1.4%, Friday’s high was led by the S&P 500. The S&P 500 rose 1.2%. Nasdaq saw 0.8% growth broke a five-session losing streak. Tech-rich index was 5.2% off its Sept. 7 record close. The S&P 500 was nearly 4% away from its Sept. 2 record close. More than 3.6% was missing from the Aug. 16 record close of Dow Jones.
October is the month has a reputation for volatilityThe fourth quarter was generally a good time for the stock market. Wall Street strategists expect stocks will surpass their October highs following a difficult period. The S&P 500 has averaged outsized gains of 3.9% in the fourth quarter and was up four out of every five times since World War II, according to CFRA. September was 2021’s worst month.
2. U.S. trade rep to vow to enforce ‘phase one’ deal with China
U.S. trade representative Katherine Tai is present before the Senate Appropriations Subcommittee of Commerce, Justice, Science and Related Agencies at a hearing about the budget proposal for fiscal year 2022 to the Office of the U.S.Trade Representative (on Capitol Hill, April 28, 2021, Washington, DC).
Sarah Silbiger, Getty Images News | Getty Images News | Getty Images
Washington should enforce the U.S. China phase 1 trade agreement. This will cause wider policy concern with Beijing. according to remarksU.S. trade representative Katherine Tai is expected to deliver Monday’s announcement. CNBC last week reported that China’s top trade representative would declare that Beijing had not adhered to the Phase One agreement that was made under the former president Donald Trump. Tai will speak at 10:15 a.m. ET will be given by the Center for Strategic and International Studies at Washington. It will discuss the Biden Administration’s China trade strategy.
3. Troubled Evergrande plans to raise additional cash via a partial sale
China Evergrande Group headquarters at Shenzhen in China’s Guangdong Province on February 9, 2021
Visual China Group | Visual China Group | Getty Images
Indebted developer China Evergrande GroupThe company is set to dispose of a part its holding in its property service unit. second asset sale in as many weeksThe liquidity-squeezed Chinese realty company scrambles for cash. Evergrande shares can be traded Evergrande Property ServicesIt was stopped Monday morning. Evergrande filed a request with Hong Kong’s exchange for a trading stop in anticipation of an announcement on a “major deal.” Evergrande announced last week that it would sell $1.5 billion of Shengjing Bank’s stake to an asset management company owned by the state.
4. Facebook is “substantially worse” than other social media platforms, according to a whistleblower
Olivier Douliery | AFP | Getty Images
Frances Haugen — a Facebook whistleblower who brought internal documents detailing the company’s research to The Wall Street Journal and Congress — revealed her identityShe gave the CBS show “60 Minutes” a pre-interview. It aired on Sunday night. According to the documents, Facebook executives were aware that some of its platforms could have negative consequences for young people.
According to Haugen’s website, she was previously a product manager at Facebook’s Civic Misinformation Team. Haugen worked previously as a product manger at Pinterest Yelp AlphabetAccording to her LinkedIn profile:’s Google. Haugen stated that “60 Minutes” had shown her a lot of social networks. “It was significantly worse at Facebook than I have ever seen.” Facebook shares fell 10% over the last month and nearly 1% during Monday’s premarket.
5. Tesla surpasses all expectations in Q3 deliveries, despite delays
Tesla’s logo seen in a showroom. Tesla today announced the Q1 2021 earnings.
Getty Images| LightRocket | Getty Images
Shares Tesla — up close to 10% year to date — rose nearly 3% in the premarket after the company said Saturday it delivered a better-than-expected 241,300 electric vehicles during the third quarter of 2021. In the third quarter, 237 823 cars were produced by the company. Model 3 cars and Y were most common, as these are the lower-end mid-range vehicles. Rest were higher-end Model S or X models. Tesla doesn’t break down delivery figures by model. It also does not report numbers for sales and production from China relative to the U.S. Tesla’s Saturday press release acknowledged that there were delays in delivery during quarter one, and blamed them on the “global supply chain challenges” Tesla also thanked its customers for their patience.
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