5 things to know before the stock market opens Monday, Nov. 8
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Investors need the following news, analysis and trends to help them start trading:
1. Dow futures rise after Wall Street record-breaking Friday
Traders in the NYSE Floor
Source: NYSE
It DowThe week will begin exactly as it did last week. Average stock price of 30 stocks closed at another recordFriday was Friday, and the same happened on Saturday S&P 500And the NasdaqFollowing a stronger-than-expected October employment report,. In the first week, all three benchmarks experienced solid gains. Stocks traded in Premarket Trading got a boostFrom the House, Friday night passing an over $1 trillion infrastructure bill,Send the legislation to President Joe BidenFor his signature. House Democrats arrived Friday with plans to approve both infrastructure legislation as well as the $1.75 trillion party’s climate and social safety net. The bill was delayed by a few centrists asking for a Congressional Budget Office estimate on the larger bill’s fiscal effects.
2. Ether breaks a record and bitcoin moves closer to its highest ever level
Bitcoin and Ethereum have experienced huge gains in 2021. For the first time, in April 2021 the value of the cryptocurrency market exceeded $2 trillion.
Getty Images| NurPhoto | Getty Images
EtherThe world’s second largest digital currency, grew more than 4% Monday, to reach a record high of $4,700. BitcoinThe biggest cryptocurrency, was up 5% to $66,250 inching back toward its record high above $66,900, set in late October. This move was not explained. It was unclear why the move occurred. Cryptocurrencies have a reputation for volatile prices, which can swing up to 20%. Ethereum, which is the blockchain that runs ether, has been upgraded. This upgrade investors believe will increase the network’s speed and make it more eco-friendly.
3. Tesla drops 5% following Musk’s proposal to sell 10% of his stock
During a media event, Elon Musk, Tesla CEO stands in front of the Tesla Gigafactory foundry.
Patrick Pleul picture alliance | picture alliance | Getty Images
The shares of Tesla — more than 70% higher year to date and nearly 180% in the past 12 months — sank 5% in Monday’s premarket. Tesla’s stock value is still well above $1 trillion, even if it were to go public at its current price on the premarket. You can read more about it here. TwitterPoll Saturday: Tesla CEO Elon MuskProposed selling 10% of his stock to the electric vehicle maker
Over 3.5 Million people responded to the poll and 58% voted yes. Musk indicated that he would follow the poll results “in any way they go.” But, facing a $15 billion tax billMusk selling Tesla stock in this year’s fiscal year is likely to happen regardless of how the tweet vote went.
4. Long-term protection is provided by Regeneron’s Covid antibody therapy
Regeneron Pharmaceuticals Monday a single dose of its antibody cocktailLate-stage trials reduced the likelihood of getting Covid in the time period between two and eight months after administration. In the 8-month period of assessment, Covid hospitalizations were minimal in both the drug and placebo groups. Premarket trading saw Regeneron shares rise by about 2%
5. Appeals court freezes Biden mandate; U.S. lifts travel restrictions
Vivek Murthy, General Surgeon told ABC’s “This Week”On Sunday, the Biden Administration is prepared to defend its Covid vaccine policy and private business testing. A federal appeals court Saturday temporarily blockedThe upcoming mandate. The White House is allowed to reply by Monday evening.
The U.S. lifted restrictionsMonday travel restrictions apply to a wide range of countries, including Canada and Mexico. The traveler must provide proof of vaccinations and have a negative Covid Test. These rules enable tourists and their families to take long-delayed vacations and to reunite with family members after more than one year. the pandemic
— The Associated Press and Reuters contributed to this report. All market actions can be followed like a pro. CNBC ProYou can read more. The latest information on pandemics is available here CNBC’s coronavirus coverage
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