Stock Groups

5 things to know before the stock market opens Monday, April 18

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

1. The 10-year Treasury yield hits a three-year record and stocks futures plummet

Traders in the NYSE Floor, April 14th 2022.

Source: NYSE

2. BofA releases reserve funds for sub-prime loans to help it issue stronger earnings

As she walks past a Bank of America branch on New York’s Times Square, a woman sees herself in a pool.

Brendan McDermid | Reuters

Bank of America was the last major bank to release earnings on Monday. It reported a higher-than-expected profit of 80c per share on revenues of $23.33 million. BofA’s decision to releaseContrary to this, $362 Million in loan-loss reserve was JPMorgan ChaseThe company disclosed last week that they had chosen to grow its reserve by $902 million. JPMorgan reported that profit was also affected by losses related to Russia sanctions. Goldman Sachs, Morgan StanleyAnd Citigroup each topped expectations with stronger-than-expected trading results. Wells FargoAs mortgage lending fell, revenue was lost.

3. Twitter shareholders may be interested in Elon Musk’s tweet.

Elon MuskTweeted Saturday saying “Love Me Tender,”After making an unwelcome $43 billion cash offer, Musk made a bid to purchase Twitter. Musk suggested that he might make a hostile offer to buy Twitter, bypassing Twitter’s board. He would then direct shareholders about the proposal.

It seemed that Musk (the world’s wealthiest person and SpaceX CEO) might be interested in buying shares from investors. This is called a tender deal. Twitter adopted Friday a “poison tablet” to restrict Musk’s ability increase his share of the company. Twitter shares rose by more than 3.5% during the premarket

4. China’s first-quarter GDP beats estimates despite Covid lockdowns

As a health worker disinfects the community outside of a barricaded community, a protective suit is worn by him. This was done to monitor health after COVID-19 cases were discovered in the vicinity on March 28th 2022.

Kevin Frayer, Getty Images| Getty Images

China’s first quarter gross domestic product grewA 4.8% increase was seen despite Covid lockdowns of March. China was unable to stop its worst Covid epidemic since 2020, beginning last month. Three people have diedAs of Sunday, Shanghai officials had locked themselves down and said they attributed the deaths to existing health problems. Shanghai initiated a two-stage lockdown in March and began mass virus testing. This was to be lifted after just over a week. However, authorities are yet to establish an end date.

5. Officials in Ukraine say that Russian attacks have claimed the lives of at least 7 victims in Lviv.

After an air strike on the Ukrainian city Lviv (April 18, 2022), dark smoke rises.

Yuriy Dyachyshyn | AFP | Getty Images

On Monday, seven Russians were killed when Russian missiles struck Lviv, Ukraine. Ukrainian officials saidAs Moscow’s troops prepared to launch an offensive in the east, they intensified strikes on infrastructure. Mariupol, eastern city besieged has refusedRussia demands that Russia surrender. Last week, Mariupol’s mayor stated that there had been 10,000 deaths of civilians. The U.K. Ministry of Defense reported in an intelligence update that the targeting of Mariupol’s populated areas is consistent with Russia’s approach to Chechnya (1999) and Syria (2016).

— CNBC’s Hannah Miao, John Melloy, Sarah Min, Tanaya Macheel, Hugh Son, Evelyn Cheng, Natasha Turak and Ted Kemp as well as Reuters and The Associated Press contribute to this report.

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