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5 things to know before the stock market opens Monday, March 28

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

1. Wall Street appears steady following a two-week win streak

Traders at the NYSE floor, 21 March 2022

Source: NYSE

U.S. stock futuresThe stock market rose slightly on Monday. Wall Street was hoping to end March’s monthly gains on Thursday. two-week winning streak. The government will publish its final monthly employment report on Friday, April 1, at 11:59 a.m. Federal ReserveIn the first week in May, the policy meeting was held. Increasing expectations of more aggressive interest rates has been driving bond yields higher. The fact is that the 5-yearAnd 30-yearMonday’s inversion of Treasury yields raised fears about a recession. It was the first such change since 2006. Benchmark 10-year Treasury yieldIt topped 2.56% for a new nearly 2-year record.

2. After the announcement of Shanghai Covid lockdown, oil prices sink due to worries about demand

As a precaution against Covid-19, health workers wore protective gear on March 26th 2022 as they walked down Jing’an street in Shanghai.

Hector Retamal | Afp | Getty Images

U.S. and International Oil Prices droppedMonday’s drop in fuel consumption was about 5%, traders worried that China would have a lower demand for gasoline after Shanghai opened. two-stage Covid lockdown. This is the initial phase. It aims to stop China’s worst epidemic of the pandemicThe aforementioned applies to Shanghai’s eastern region, which is home to its financial centre. It will not affect the Shanghai Stock Exchange. This second phase will be in the west part of Shanghai and lasts from Friday morning through the afternoon of April 5.

An aerial view of Tesla Shanghai Gigafactory, Mar. 29.09.2021 Shanghai, China

Xiaolu Chu – Getty Images News | Getty Images News | Getty Images

TeslaIn accordance with Covid lockdown’s first phase, Shanghai will cease production. Reuters reported Monday. It declined to provide details on how operations were at Shanghai’s plant this week. Tesla CEO Elon MuskHe stated that he was aware of the fact. Covid againHowever, it shows “almost no symptoms”.

3. Tesla would like to divide its stock so that it can give a stock dividend

Elon Musk is the founder and chief executive officer of Tesla Motors. He spoke during a media tour at the Tesla Gigafactory which produces batteries for the electric vehiclemaker in Sparks (Nevada).

Reuters| Reuters

Tesla revealedAccording to Monday’s Securities and Exchange Commission filing, it plans to divide its shares to pay shareholders a stock dividend. Premarket shares rose 5.5% for Tesla. The stock has more than doubled since its last split — a 5-for-1 split — in August 2020. Tesla shares are struggling after they gained nearly half of their value last year, and around 740% in 2020.

Musk tweeted Saturday that he was happy to be a part of the solution. giving “serious thought”To create a new platform for social media. After claiming the billionaire status, Tesla and SpaceX founders made this comment. TwitterTwitter doesn’t permit free speech. Twitter said that it was committed to freedom and expression. CNBC did not receive a response immediately.

4. Russia-Ukraine talks will continue; the U.S. pulls back Biden comment

View of the damaged building following shelling in Kyiv’s Vitryani Hory, Ukraine, on March 27, 2022.

Andres Gutierrez | Anadolu Agency | Getty Images

Discussions between Russia and Ukraine are set to continueThis week, officials from both nations traveled to Turkey in the hopes of defusing the conflict. In the meantime, Moscow declared President Joe BidenRussian leader makes Saturday comments Vladimir PutinAlarming comments like “cannot stay in power” The White House later walked back Biden’s comments, saying the administration was not calling for regime change in Russia — and instead, the president was referring to Putin attempting to exert power over the European continent.

5. Biden proposes a Billionaire minimum income tax’

At the National League of Cities’ Congressional City Conference, the President of the United States Joe Biden delivered remarks on March 14th 2022 at the Marriott Marquis.

Sarah Silbiger | Reuters

Biden will likely propose a minimum tax to largely hit billionaires in his budget for 2023. according to a document obtained by CNBC. Billionaire Minimum Income tax, which would impose a minimum 20% income tax on households with more than $100,000,000 in U.S. dollars. The wealthiest households could generate more revenue than half of the total. According to the document, the proposed tax will reduce the deficit to $360 billion over the next decade.

— CNBC reporters Tanaya Macheel, Vicky McKeever, Fred Imbert, Sam Shead, Chloe Taylor, Michelle FoxAnd Kayla TauscheThis report was also contributed by Reuters.

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