5 things to know before the stock market opens Friday, March 18
These are the top news, trends, and analyses that traders need in order to get started with trading.
Traders at the NYSE floor, March 17, 2022.
Brendan McDermid | Reuters
U.S. stock futures droppedFriday, the S&P 500Tracking to break a two-week losing streakIt is aiming for the best week-to-week performance since November 2020. The Federal ReserveThe first increase in interest rates since 2018 is over, DowThe Thursday session saw a winning streak of four sessions. It was expected that the 30-stock average would break its five consecutive losing weeks. Also, it will record its highest weekly gains since November 2020. The S&P 500 and NasdaqEach climbed three times in a row on Thursday. With its highest weekly performance since February 20,21, the Nasdaq saw its first week of gains in three weeks.
2. Fed Bullard suggests that the central banks should increase rates to 3% or more this year, according to Bullard.
Olivia Michael | CNBC
The screen below shows President Xi Jinping of China attending a video conference with Joe Biden, via video link. It was held at a Beijing restaurant on November 16, 2021.
Tingshu Wang | Reuters
U.S. President Joe BidenChinese President Xi JinpingThe speakers for Friday will be at 9 AM. ET, marking first contactBetween the leaders Russia invaded UkraineEnded February. The majority of Chinese media coverage on the conflict between Moscow and Kyiv has been focused on the negotiations, but not referring to it as an invasion or war. They also blame the U.S. for “fueling” the tensions. The White House announced that Ukraine was a topic for discussion, but the state media reports on the Xi Biden call didn’t mention it.
The scene is dominated by military and police personnel standing in front of an apartment building that suffered extensive damage from a Russian invasion on March 18th, 2022 in Kyiv.
Getty Images| Getty Images
Russian forces pressed their assaultOn Friday, new missile strikes were launched and shelling began in Kyiv and Lviv. Early Friday, the Ukrainian President Volodymyr Zeleskyy thanked Biden and asked for more military aid. However, he declined to give specifics about how these funds would be used. This week, both Russia and Ukraine reported progress in negotiations. Zelenskyy stated that he wouldn’t reveal the tactics of Ukraine’s negotiation team.
NurPhoto – Getty Images| NurPhoto | Getty Images
Shares GameStopPremarket trading fell by 7.5% Friday morning, just after video retailer swung to an unexpected lossSupply chain issues caused delays in the holiday quarter. GameStop refused to provide any guidance for the future. Matt Furlong, GameStop CEO said that GameStop was still early in its turnaround process on a post earnings call. It said that it would launch a market for non-fungible tokens in the third quarter. A redesigned mobile app is being launched by the company, which will establish relationships with PC gaming brands as well as attract new members to its rewards programme.