5 things to know before the stock market opens Wednesday, Nov. 10
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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 continues to fall, but Tesla’s recent drop has also been a factor.
An trader operates on the New York Stock Exchange’s floor (NYSE) in New York City on November 05th, 2021.
Spencer Platt | Getty Images
2. Most likely, October’s consumer prices rose at the fastest rate in many decades.
One pedestrian is carrying Zara shopping bags, in San Francisco (California), U.S.A, Thursday September 16th 2021.
Bloomberg | Bloomberg | Getty Images
The next day October producer priceIndex showed an increase at a record rate year-over-year, according to the government release at 8:30 AM. ET’s look at last month’s consumer price index. Economists expectThe CPI will rise by 5.9% compared to last year. This would mark the highest increase in the past three decades. The government will issue its weekly view of initial jobless claims on Thursday due to the Veterans Day holiday. Expect a new low in unemployment benefit filings of 265,000, which is the lowest level since Covid.
3. Rivian’s IPO Pricing Values Electric Vehicle Maker Above $66 Billion
Rivian workers stand alongside the all-electric pick up truck, the R1T by Rivian on November 9, 2021, in Brooklyn, New York City.
Spencer Platt | Getty Images
Rivian Automotive is the company behind electric vehicles. AmazonAnd FordThe Nasdaq will begin trading on Wednesday under the ticker symbol RIVN. Tuesday night, the EV manufacturer pricedThe initial public offering of Rivian was at $78 per shares, which is above its expected range and translates to a total value of $66.5 billion. Rivian has a market value almost equivalent to Ford’s of $79billion and General Motors’s $85billion. This is before the company even generates real revenue.
4. Coinbase shares fall after revenue misses at crypto exchange
The monitors show Coinbase signs during the initial public offering (IPO), at the Nasdaq MarketSite New York on Wednesday, April 14, 2021.
Bloomberg | Bloomberg | Getty Images
CoinbasePremarket shares fell by 10% Wednesday morning, just after crypto-exchange nation reported. lower-than-expected revenueThe third quarter saw a total of $1.31 trillion. Coinbase received $1.62 per share. Coinbase stated that its monthly transactions users decreased and the trading volume declined from the previous period. The company’s success is largely dependent on digital assets such as bitcoinIt endured a tough summer. It reached new heights on Monday. all-time high above $68,000
5. Google is ruled guilty in an EU antitrust case.
Google logo is used to display the European Union flag.
NurPhoto – Getty Images| NurPhoto | Getty Images
It is also the EU’s 2nd-highest court ruled Wednesday that the European Commission was right to fine Google $2.8 billion for an antirust breach — in what represents a landmark moment for European Union policy that could impact the business models of major tech players. The European Commission is the executive arm and body of the European Union. In 2017 it stated that Google preferred comparison shopping services to its own. AlphabetUnit $2.8 billion The verdict of Wednesday can be appealed to the EU’s highest tribunal. Google and the European Commission were unavailable for comment immediately.
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