5 things to know before the stock market opens Monday, Nov. 15
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These are the top news, trends and analyses that traders need in order to get started with trading.
1. Dow will jump 100 points upon breaking 5-week streak of winnings
After the October Labor Department data, markets were up after the new numbers revealed that nonfarm payrolls rose by 531,000 in the month.
Spencer Platt/Getty Images
U.S. stock futures were up Monday. The Dow was expected to open 100 points above its previous close. Wall Street finished Friday strong but snapped a five-week winning streak. It is the Dow Jones Industrial Average rose nearly 180 points, or 0.5% on Friday. The S&P 500 gained about 0.7% and the Nasdaq added 1%. These gains did not overcome Wednesday’s selling. hottest consumer inflation report in more than 30 years. For the week, the Dow fell 0.6%; the S&P 500 dipped 0.3% and the Nasdaq dropped about 0.7%. At Friday’s closing, each of the three benchmark stocks was less than 1% from record levels a week earlier.
2. How consumers perceive inflation and the economy from retail earnings
On Thursday, May 13th, 2021, a shopper carried a bag in front of a Walmart Store in San Leandro (California).
Bloomberg | Bloomberg | Getty Images
There are many ways to make money. long list of retail earningsIt will also give insight into American consumers’ feelings about spending and how they feel about the rising cost of living. These companies are also expected to provide investors with a glimpse into their financial health. Walmart on Tuesday and TargetExpect to enter the holiday shopping season on Wednesday Big economic reports for this week include Tuesday’s release of the government’s October retail sales figures. According to the most recent consumer sentiment data, Friday’s sales figures show that shoppers worry about increasing prices.
3. Biden to Sign $1 TILLION Infrastructure Bill, Names Coordinator
U.S. President Joe Biden gives a speech on a November 10th, 2021, visit to Baltimore, Maryland.
Evelyn Hockstein | Reuters
President Joe BidenMonday is set to signThe $1 trillion infrastructure bill passed both the House and Senate, with bipartisan support. The White House declared that Mitch Landrieu (formerly mayor of New Orleans) would oversee the implementation of the funding one day prior to the ceremony. On Tuesday, the president will travel to New Hampshire to inspect a bridge that is on New Hampshire’s “red list” for repairs. Wednesday’s trip to Detroit will take him to General Motors’ assembly plant for electric vehicles. Biden started selling the plan to a wider public last week when he visited the Port of Baltimore.
4. Biden-Xi Summit: Taiwan could supplant tariffs and supply chain disruptions
Xi Jinping, the Chinese president, shakes hands (L), with Joe Biden, the U.S. vice president.
Lintao Zhang | Reuters
The U.S. and China economic relationship is dominated by two issues: tariffs as well as supply chain problems. will take a backseatMonday’s security issues will be addressed when Biden hosts a virtual summit meeting with the Chinese President Xi Jinping. Not likely, the United States will prioritize rising tensions with Taiwan and China. Biden will discuss China’s record on human rights at the meeting. They also plan to discuss areas of cooperation in the context of the Glasgow Climate Conference, Scotland. a surprise joint agreement to set new targets for scaling back fossil fuel consumption.
5. Apple slaps taxpayers on the face with a portion of its bill to roll out digital ID cards
Keys and wallet
Source: Apple
Apple is making U.S. states pay part of the bill and provide customer support for its plan to turn iPhones into digital identification cards, according to confidential documents obtained by CNBC. Tech giant announced in June that its users could soon store state-issued identification cards in the iPhone’s Wallet app. Arizona and Georgia will be the first two states to allow drivers’ licenses to be stored in the Wallet App. States are now responsible for maintaining their technology infrastructures at taxpayer expense. This is a win-win situation that benefits Apple’s shareholders and Apple itself.
— The Associated Press contributed to this report. All market action can be followed like a pro. CNBC Pro. The latest information on pandemics is available here CNBC’s coronavirus coverage.
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