Stock Groups

5 things to know before the stock market opens Tuesday, Oct. 12

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These are the top news, trends, and analyses that traders need in order to get started with trading.

1. Wall Street will not succumb to a losing streak of 3 sessions

Traders at the New York Stock Exchange floor, October 6, 2021.

Brendon McDermid | Reuters

U.S. stock futuresAs a result, Tuesday’s steady performance was despite the drop in U.S. crude oil prices and elevated bond yields. West Texas Intermediate crudeIt was still around seven-year highsAbove $80 per barrel It is the 10-year Treasury yieldTrading back to June highsAt 1.6% higher than the 10 a.m. government rate. ET releases its most recent Job Openings Survey and Labor Turnover Survey. According to Economists, 10.9 Million Job Openings will be available by August’s end. That is unchanged from the July record.

On Monday, Dow continued Friday’s weaknessMuch lower than expected September job growth The 30-stock averageIt is the S&P 500The NasdaqConcerns about the impact of rising oil prices on the recovery by Covid led to a 0.7% drop in all stocks. Dow Jones was almost 3.2% lower than its Aug. 16 record closing. The S&P 500 was off almost 3.9% from its Sept. 2 record close. Nasdaq lost 5.8% over its Sept.7 record close.

2. House will vote to approve the short-term debt ceiling agreement

Washington, D.C., U.S.A. Capitol on Wednesday, October 6, 2021

Bloomberg | Bloomberg | Getty Images

The House is set to voteTuesday’s approval of a temporary debt ceiling increase, and sending it to the President Joe BidenHis signature. The compromise $480 billion increase will permit the federal government’s bills to be paid until December 1. Last week, the Senate passed it in a Democratic-party vote. Senate GOP leader ended the standoff regarding Oct. 18 deadline. Mitch McConnellHe agreed to support the temporary increase. However, he says he’ll not repeat the mistake. McConnell is asking Democrats to use their small majority on Capitol Hill and act on debt ceiling via the reconciliation process alone.

3. Southwest Airlines cancels dozens more flights

Check-in is awaited at Southwest Airlines counter at Baltimore Washington International Thurgood Marshall Airport, Baltimore, Maryland on October 11, 2021.

Kevin Dietsch | Getty Images

Southwest AirlinesThe airline cancelled 87 of its flights or about 2% of Tuesday’s scheduleAfter having cancelled approximately 2,220 calls since Saturday Southwest had to cancel more than half the flights on Sunday. This was when 30% of their daily schedule was lost. The airline cut its schedule to try and fix operational problems that had caused frequent cancellations. It was speculated that the disruptions this weekend were caused by worker sickness calls linked to Covid vaccine mandate. Southwest stated that it was inaccurate and not supported by evidence.

4. GOP Texas governor bans Covid mandates

Governor Greg Abbott addresses the National Rifle Association’s (NRA) annual convention in Dallas.

Lucas Jackson | Reuters

Republican Texas Governor Greg Abbott issued an executive orderAny entity or private business may not impose restrictions on any other entities. CovidCustomers and employees must be vaccinated. Abbott released a statement saying that “the COVID-19 vaccination is effective, safe, and the best defense against the disease, but it should not be forced” In his ordoned, he stated that it was initiated by the Biden administration’s federal vaccine mandate. The Texas governor called this federal overreach.

5. Jamie Dimon believes that bitcoin is worthless

Jamie Dimon is the CEO of JPMorgan Chase and speaks to Economic Club of New York. January 16, 2019 in New York.

Carlo Allegri | Reuters

Jamie DimonIt is still possible to purchase. bitcoin skeptic. The JPMorganA Monday conference saw the CEO naming the most important digi of all time.TA currency is not intrinsically valuable. I personally believe that. bitcoin is worthlessDimon agreed. Dimon said, “But I don’t want to be the spokesperson for this. I don’t care. For me, it doesn’t matter. You shouldn’t smoke cigarettes. Bitcoin is lower than Tuesday’s, but it was still quite high. still above $57,000This is a new record, which was not reached since May. It’s been rallying Recently. Bitcoin rose by around 30% between April and October. The cryptocurrency reached an all time high of near $65,000 on April and then dropped below $30,000 in the summer.

— Reuters and NBC News contributed to this report. You can follow all market activity like a professional. CNBC Pro Find the most recent information about the pandemic here CNBC’s coronavirus coverage

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