5 things to know before the stock market opens Friday, April 22
These are the top news, trends, and analyses that traders need in order to get started with trading.
Pedestrians pass the NASDAQ MarketSite, New York’s Times Square.
U.S. stock futuresThey were mixed on Friday after a market sell-off triggered by hawkish remarks from the Federal Reserve Chairman. Jerome PowellStrong morning gains were wiped out by a strong YTD. Rising bond yields, continuing Friday’s gains, continued to hit the NasdaqIt was particularly difficult Thursday with the tech-heavy index falling 2% in an a second straight session of big losses. The Nasdaq was in sharp correction. It is now close to bear-market territory. This can be defined as a 20% drop from its recent highs. Last November was the record closing of the Nasdaq.
Jerome Powell (Chief of the U.S. Federal Reserve) attends the National Association of Business Economicseconomic conference in Washington D.C. United States, March 21-22, 2022.
Yasin Ozturk | Anadolu Agency | Getty Images
This is the benchmark 10-year Treasury yieldFreitag neared 3%As the yield curve’s short end saw, the 5-yearPowell, who was at the top of that list, confirmed many Fed officials’ recent statements that interest rates might need to rise faster to combat inflation. CNBC moderated a panel discussion on Thursday about the International Monetary Fund. Sara Eisen,The Fed Chief stated that 50 basis points would be available for May’s meeting. At its March meeting the central bank increased rates 25 basis points. the first hike in more than three years. In 2022, the market anticipates that rates will rise at all six of these meetings.
On March 1, 2019, traffic passes an Old Navy or GAP store in Times Square.
Drew Angerer | Getty Images
Shares GapThe company lost 15% on Friday morning’s premarket. This was after the retailer had reduced its growth forecast due to increased competition. Company also announcedNancy Green has resigned as CEO of the Old Navy division. Gap, in addition to Old Navy (and its nameake brand), is behind Athleta and Banana Republic lines. Gap stated that the company will present a revised fiscal 2022 outlook in its quarterly reports, which are due to be published on May 26.
An outdoor track is used by a Jeep Wrangler Rubicon during the media preview at the International Auto Show held at Jacob Javits Convention Center, New York City, on April 13, 2022.
Timothy A. Clary | AFP | Getty Images
Warner Bros. DiscoveryCNN+ is closing at the close of the month just weeksThe stand-alone streaming news site was launched. Customers will receive prorated refunds of subscription fees, the company stated. In the first two weeks of its launch, CNN+ had fewer than 10,000 active users per day. It was launched shortly after. AT&TOn April 8, Discovery and the then-WarnerMedia unit of Discovery merged. Warner Bros. Warner Bros.
Nicholas Maldonado is a Disney employee and holds a sign as he protests outside Walt Disney World, Orlando, Florida on March 22, 2022. Employees are staging a company-wide walkout today to protest Walt Disney Co.’s response to controversial legislation passed in Florida known as the “Don’t Say Gay” bill.
Getty Images| Getty Images News | Getty Images
Florida Legislature, Republican-led has passed — and sent to Gov. Ron DeSantis — a bill seeking to dissolve a special district that allows the Walt Disney Co.Orange and Osceola county’s outer limits to allow for self-government. DeSantis, widely considered a candidate for the GOP Presidential nomination in 2024, is embroiled in a dispute with Disney about the denunciation of Florida’s Don’t Say Gay law. This law restricts early education on gender identity and sexual orientation.