5 things to know before the stock market opens Thursday, March 10
Investors need the following news, analysis and trends to help them start trading:
1. As Russia-Ukraine talks fall apart, oil prices rebound and stock futures drop
March 8th, 2022: Traders at NYSE
U.S. stock futures fell sharply Thursday. U.S. oil pricesMorning trading saw a rebound of 4% as Russia-Ukraine talks fell short with little progress in securing safe passages to evacuate civilians and a ceasefire. Investors will pay attention to a report on inflation before the bell, as oil prices and gasoline are higher. AmazonThe premarket saw an exceptional rise, with a jump of 5% in the after-the-bell. announcementThere will be a $20 billion stock split. BitcoinDropped below $40,000On Thursday, some of the first excitement surrounding President Joe BidenThe executive order to digital assets was repealed.
2. Pressure on stocks comes after S&P 500’s best day in roughly 21 months
Wall Street is set to open lower this Thursday. It broke its four-session losing streak Wednesday with the S&P 500Increase 2.5% in its best day since June 2020It remained as a correction. You can read the rest of it here. NasdaqIt grew by nearly 3.6% and Dow Jones Industrial AverageThe Dow rose 2%. These gains lifted the Dow from a correction as well as the Nasdaq from a bearish period. The oil prices rose. sharp leg lower Wednesday afternoonStocks gained an additional boost when this happened. The benchmark American crude oil, West Texas Intermediate, fell more than 12 percent.
3. Inflation data is hotter than expected, so bond yields rise before they do.
It 10-year Treasury yieldThis Thursday roseThe February government rate was 1.98% higher than the average consumer price indexThe following information will be available at 8:30 AM. ET. ET. Core consumer inflation (excluding energy and food) is projected to increase 6.4% in February. 8.30 a.m. ET also publishes its weekly overview of first jobless claims.
- The latest reads on wholesale inflation and retail sales are out Tuesday and Wednesday — the two days when the Federal Reserve holds its March policy meeting. It is widely believed that central bankers will begin hiking CovidNext week’s near-zero interest rate will be the start of a series to increase rates this year in an effort to reduce inflation.
4. Russia attacks a Ukrainian maternity facility, killing three people
After the devastation of Mariupol’s children’s hospital, a car is set on fire. The Russian invasion of Ukraine has continued, Mariupol (Ukraine), March 9, 2022. See this still from Reuters handout video.
via Reuters| via Reuters
One day later, Russian forces suffered a failure in cease-fire negotiations on Thursday. bombed a maternity hospitalThree people were killed in Mariupol (Ukraine), including one child. Russian Foreign Minister Sergey Lavrov said on Thursday that there was no evidence the hospital had been taken by Ukrainian ultra radicals. Dmytro Kuleba (Ukraine Foreign Minister) said Russian officials “live within their reality.”
- U.S. Vice President Kamala HarrisOn Thursday, Polish leaders will be meeting in Warsaw disagreements simmerConcerning how to arm Ukraine using warplanes against Russia’s invasion. Volodymyr Zeleskyy, President of Ukraine, has been asking NATO for a no-fly or fighter jets zone.
5. Amazon’s 20 for 1 stock split fuels Dow-30 speculation
Getty Images| Bloomberg | Getty Images
Amazon parent and Google parent are mega-cap tech stocks AlphabetThese mega stocks are being sold off with massive splits fueling speculationAsk them if they might be able to one day join the Dow’s 30 component components. With its February 20-for-1 stock split, Alphabet was first. It was then, on Wednesday night, Amazon’s 20 for 1 stock split. AppleThe Dow was added in March 2015 by Apple, nine months after it had completed a 7 for 1 split. Apple also completed a 4-for-1 split for 2020.
— The Associated Press and Reuters contributed to this report. Sign up now for the CNBC Investing Club to Follow Jim Cramer on every stock trade. As a professional, follow the wider market action. CNBC Pro.