Stock Groups

5 things to know before the stock market opens Monday, Jan. 10

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These are the top news, trends, and analyses that traders need in order to get started with trading.

1. Nasdaq, S&P 500 both set to drop for 5th straight sessions

At the Nasdaq Market site at Times Square, New York City on December 3, 2021, you will see the Nasdaq logo.

Jeenah Moon | Reuters

U.S. stock futuresMonday’s trading session was a tough one, with tech stocks being battered due to rising bond yields. This is the The NasdaqA four-session losing streak ended Friday with the worst damage occurring last Wednesday. For the weekIn its worst weekly performance in a week since February 20,21, tech-heavy index fell 4.5% This is the S&P 500The index also tracked Monday for a 5-session losing streak. Last week, the index dropped 1.9%.  This is the Dow Jones Industrial AverageThe index, which had dropped for three straight sessions, was down 0.3% last week. The Dow and S&P 500 both hit record closing highs early last week.

2. Goldman Sachs raises Fed Rate Forecast to Four Times This Year

Bond yields ticked higherMonday with the benchmark 10-year yieldTrading at 1.77%, after reaching a record high on Friday of 1.8% back in January 2020. Goldman Sachs anticipates that the Federal Reserve will increase interest rates from their near-zero levels. four times this yearInflation rises while unemployment decreases. Minutes from the December Fed meeting revealed talks about a balancesheet reduction, as well as signalling rate increases and an acceleration of tapering. Jerome Powell, Fed Chairman, will be testifying Tuesday before a Senate panel.

3. Week ahead: Powell hearing, inflation, and earnings

In the week aheadOn Wednesday and Thursday, the wholesale and consumer inflation reports will be out. While economists anticipate another strong month in both consumer and wholesale inflation readings, some economists think that inflation could be near its peak. November’s CPI headline reading was 6.8%. This is the highest CPI since 1982. Friday’s retail sales figures are available. With the start of earnings season, Delta Air LinesThursday’s quarterly results JPMorgan Chase, CitigroupAnd Wells FargoFreitag

4. Zynga, the mobile gaming company owned by Take-Two, was bought by Take-Two. Stocks soared upon this deal

On Wednesday, August 4, 2021, Zynga Headquarters in San Francisco (California), USA, will host a signage. Zynga Inc. will release its earnings numbers on August 5.

Getty Images| Bloomberg | Getty Images

Take-Two InteractiveIt announced Monday that it would buy a mobile gaming company ZyngaIn a cash and stock deal with an enterprise value close to $12.7 billion,. Take-Two announced it would purchase all Zynga shares at $9.86 each share. This is 64% more than Friday’s closing, which was largely reflected by Monday’s premarket trades. The premarket saw Take-Two shares fall approximately 10% It is anticipated that the deal will close before June ends.

5. Lululemon reports that fourth-quarter sales and earnings were hurt by omicron

Lululemon, a Canadian retailer of athletic apparel, shows its logo at one of their stores.

Alex Tai | LightRocket | Getty Images

LululemonStocks came under pressureAfter the apparel retailer and manufacturer announced Monday morning, earnings and revenue will be at the lower end of the estimates for fiscal fourth quarter. It blamed staff shortages, shortened hours and increased Covid case numbers in the U.S. for the company’s fiscal fourth quarter earnings. In premarket trading, the stock fell more than 7%.

— Reuters contributed to this report. All market action can be followed like a professional. CNBC Pro. Find the most recent information about the pandemic here CNBC’s coronavirus coverage.

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