5 things to know before the stock market opens Wednesday, Dec. 22
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Investors need the following news, analysis and trends to help them start trading:
1. Wall Street appears steady, after ending a losing streak that lasted three days
Traders are seen working on the New York Stock Exchange’s floor in New York on Monday 13 December 2021.
Getty Images| Bloomberg | Getty Images
U.S. stock futuresWall Street’s three-session losing streak was broken by Wall Street on Wednesday. The concern about an increase in Covid cases at the U.S. because of the now-dominant Omicron variant led to a relative flat trading day. There are Dow Jones Industrial AverageOn Tuesday, the point total rose by 560 or 1.6%. It was S&P 500It jumped by nearly 1.8% The NasdaqThis rose by 2.4% These are all benchmarks were tracking for solid December gains.
Year to date as of Tuesday’s close, the Dow was up almost 16%; the S&P 500 had risen roughly 23.8%; and the Nasdaq was up 19%. Wednesday morning’s economic calendar features the third estimate of Third-Quarter Gross Domestic Product and Prices at 8:30 am. ET.
2. Biden will hold a supply chain meeting on the day following Covid’s address
U.S. President Joe Biden talks about his country’s fight to the coronavirus (COVID-19), at the White House, Washington, U.S.A, December 21, 2021.
Kevin Lamarque | Reuters
A day after the announcement of new plans against Covid, the President Joe BidenThere are plans for Wednesday’s meeting to discuss the issues. supply chain problems. U.S. officials, as well as private companies like FedEx, will discuss the ongoing efforts in fixing logistics disruptions due to pandemics. Biden declared Tuesday that everyone was fully vaccinated can safely celebrate the holidaysWhile omicron continues to rip across the nation, it is still a good idea. Although the president admitted that there will likely be many breakthrough infections among those not vaccinated in the weeks ahead, he said people who have received their vaccines will still be safe from serious illness or death.
3. Delta Air Lines lobbyizes CDC about quarantines; Tech companies bail out of CES
AmazonFacebook Parent Meta Platforms, Twitter PinterestDue to concerns over the coronavirus, teams will not be sent to Las Vegas’ Consumer Electronics Show. However, Tuesday’s announcement by the Consumer Technology Association (runs CES), stated that they will be attending the Consumer Electronics Show in Las Vegas. would runFrom Jan. 5 through Jan. 8. The group also stated that health precautions include masking, vaccination requirements and Covid testing.
Delta Air LinesOn Tuesday, CEO Ed Bastian askedThe Centers for Disease Control and Prevention has reduced its recommendation for quarantine for people with Covid who have been fully vaccinated. According to him, the 10-day current isolation time could have a negative impact on the airline’s operations and workforce. Delta claims that 90% of its employees are fully vaccinated.
4. Worker’s lawsuit against employer must be filed over the death of husband by Covid.
California-based See’s Candies must face a lawsuitAn employee claimed that she had caught Covid in work and given it to her late husband. A state appeals court ruled Tuesday. The ruling appears to be the first to allow a worker or family member to sue their employer in relation to a Covid death. For more information, contact a lawyer Berkshire HathawayReuters did not receive any comment from See’s, a Reuters-owned company. See’s stated that the death of its employee’s husband last year was “derivative” from an alleged workplace accident, meaning it would be covered by workers’ comp and not need to go to court.
5. Musk claims he has sold enough stock; California is being overtaxed
Maja Hitij | Getty Images News | Getty Images
TeslaChief Executive Officer Elon MuskAccording to him, he had “enough stock” left to fulfill his goal of selling 10% of his stake in the largest car maker worldwide. according to an interviewReleased Tuesday. Musk said that part of the profits from these sales would go to paying for the tax bill in 2021, which will amount more than $11 Billion. Tesla shares rose 3.5% Wednesday premarket, despite being under significant pressure over the last month, but still up 30% in 2021. After his personal 2020 move to Texas, Musk, the billionaire, moved Tesla’s headquarters to Texas. Musk stated to the satirical website Babylon Bee, that in the Golden State it is “increasingly challenging” to accomplish certain tasks.
— Reuters 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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