Stock Groups

5 things to know before the stock market opens Tuesday, Dec. 7

Investors need the following news, analysis and trends to help them start trading:

1. Wall Street to rally even as the omicron fear recedes

Traders are seen working on the New York Stock Exchange’s floor in New York City.

Brendan McDermid | Reuters

Dow futures jumpedAbout 350 points were traded Tuesday after the 30-stock index surged by 646 points or almost 1.9% on Tuesday as investors became less concerned about the Covid omicron variation. It is the S&P 500More than 1% of the market and more NasdaqThe rally was joined by a weakened Wall Street, which advanced almost 1%. Wall Street is coming off last week’s losing week. has recently been volatileThe evidence is in the DowThere have been ups and comings since the Nov. 26 905 point plunge.

British drugmaker GlaxoSmithKlineTuesday’s announcement revealed that early-stage data showed the effectiveness of its Covid antibody-based therapy was effectiveagainst the 37 mutations in omicron. Other preclinical data from last week showed that the treatment was developed by GSK, based in the U.S. Vir Biotechnology,Key mutations in the omicron gene were researched. Premarket shares of Vir increased by 8% and GSK rose by 1%.

2. The longest serving CEO of a major airline company announces retirement

American Airlines CEO Doug Parker


The shares of American AirlinesAfter Tuesday’s announcement by the carrier, the premarket gained 3% CEO Doug Parker is stepping down. American President Robert Isom will succeed him, starting March 31. Parker, who is 60 years old, was the longest serving chief executive of any major U.S. airlines. American’s Board Chairman will continue to be his role. Parker, the second chief executive officer of major airlines this year, has announced his retirement. Southwest AirlinesGary Kelly, the CEO has indicated that he would step down in February to give Bob Jordan his top position.

3. Intel plans to make the self-driving Car Unit Mobileye available for public consumption next year

Amnon Shashua (CEO Mobileye) poses with the Mobileye driverless car at Nasdaq market in New York on July 20, 2021.

Jeenah Moon | Reuters

Dow stock IntelThe premarket on Tuesday, just hours after Silicon Valley chipmaker Announced its plans for the day, saw a nearly 8 percent increase plans to take its Mobileye unit publicIn mid-2022. Intel acquired the Israeli autonomous-driving company for $15.3 million in 2017 as part its expansion into other markets. Intel announced that it will continue to be the largest shareholder of Mobileye. It was founded by Ziv Aviram and Amnon Shashua in Jerusalem, in 1999. Mobileye has been a partner with General Motors, BMW, Volvo, and Tesla over the years. Mobileye signed a partnership with Ford in July last year to provide support for the company’s future generation of advanced safety features and driving technology.

4. Tesla will fix Autopilot cameras. Musk criticizes the Biden bill

Maja Hitij | Getty Images News | Getty Images

TeslaThe company is replacing the repeater cameras on the front fenders for at least several hundred Model S, X, and 3 cars made in Fremont. However, the company has yet to initiate a voluntary recall. That’s according to internal service documentsIn November, the first electric automobile maker went on sale. CEO Elon MuskIn an interview with The Wall Street Journal, he stated that “it might be better”If the President Joe BidenThe $1.75 billion social spending plan that includes incentives for EV purchase, has not been passed into law. While the House passed the bill, the Senate did not. Tesla received government subsidies.

5. Instagram announces safety updates to teens before hearing

UKRAINE, 2020/11/06: In the photo illustration you can see an Instagram logo displayed on a smartphone. Photo Illustration by Valera Gorlovniov/SOPA Images/LightRocket via Getty Images

SOPA Images | LightRocket | Getty Images

Instagram revealed Tuesday several new features to its platform in an attempt to increase engagement to improve teen safetyThere are parental controls, as well an option to block teens from tagging and mentioning them in the app. Adam Mosseri is the chief executive of Instagram and will be testifying before Congress. Mosseri’s visit follows bombshell stories that claimed that MetaFacebook, Instagram and its parent company, i.e., was well aware of the dangers that their apps and services can cause to teens’ mental health. Facebook’s corporate name has been changed to Meta Platforms.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.