5 things to know before the stock market opens Tuesday
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These are the top news, trends, and analyses that traders need in order to get started with trading.
1. Stock futures have fallen after Monday’s intraday turnaround
Traders in New York City work at the New York Stock Exchange (NYSE), April 25, 2022.
Spencer Platt | Getty Images
Stock futures were slightly lower Premarket trading on Tuesday saw Wall Street follow a rollercoaster session that began with the end of yesterday’s premarket trades. major U.S. equity indexes in the green. The Monday Nasdaq CompositeThe index, which is tech-heavy, had fallen about 1% at its lowest point. However, it had seen a turnaround in the late session to end higher by 1.63%. There were S&P 500In the end, 0.57% was achieved despite the fact that the indices dropped to an intraday high of 2022. There are Dow Jones Industrial AverageAfter being down over 500 points on Monday, the market added 84 points or 0.2%.
Wall Street was in a bleak April, but the market has turned around. entering a seasonally weak period for stocksWhile facing numerous headwinds. There are many headwinds, including tighter Federal Reserve Policy, increased inflation, worries about recession, and ongoing Russian-Ukraine war. Fed set to announce WednesdayThis is a crucial decision regarding interest rates.
2. Just below 3% is the 10-year Treasury yield
In an effort to reduce inflationary pressures in the U.S., the bond market has reacted to the Federal Reserve’s more hawkish approach to policy. About 4 basis points increased Tuesday morning, to 2.776%, on the 2-year Treasury notes, which are more susceptible to central bank policies. A basis point equals 0.01%. Prices and yields are inversely related.
3. Earnings beat by Burger King and Pfizer parent companies
Albert Bourla (Pfizer CEO) speaks during a conference with President European Commission after visiting the Puurs factory of US pharmaceutical giant Pfizer to supervise the production of Pfizer BioNtech Covid-19. This was on April 23, 20,21.
John Thys | AFP | Getty Images
PfizerWall Street was beaten on Tuesday by the company’s bottom and top lines. The shares traded slightly higher premarket. According to Refinitiv, the company posted first quarter earnings of $1.62 per sen, which excludes items. This was 15 cents more than consensus estimates. Pfizer’s quarterly revenue was $25.66 Billion, which beat analyst expectations of $23.86 Billion. This was the company’s CovidThe quarter saw $13.2 Billion in vaccine sales.
Restaurant Brands InternationalProfit and sales also exceeded expectations. With $1.45 trillion in revenue for the first quarter, Burger King and Tim Hortons combined earned 64cs per share. According to Refinitiv analysts expected earnings of 63c on $1.41billion in sales. Strong same-store growth was seen at Burger King’s overseas locations.
4. Wall Street’s highest regulator almost doubles the staff of its crypto unit
Gary Gensler is chairman of Commodity Futures Trading Commission. He spoke at a hearing before the Senate Banking Committee in Washington D.C. (U.S.A.) on Tuesday July 30, 2013.
Andrew Harrer | Bloomberg | Getty Images
Wall Street’s most powerful regulator, the Securities and Exchange Commission, will almost double its staff dedicated to cryptocurrency markets. announced Tuesday. It will increase its number of positions by 20 to the “Crypto Assets and Cyber Unit” agency, bringing it to 50. Fraud analysts, trial lawyers and staff attorneys will be among the new SEC hires. This will allow the agency to “better equip itself to police wrongdoings on the crypto market” and continue to handle cybersecurity duties.
Recent years have seen cryptocurrencies gain popularity. Retail investors have been flooding the market to trade digital assets. Institutional players like venture capitalistsGensler has backed the development of blockchain-based companies in this emerging industry. Gensler, however, has raised concerns about potential fraud in crypto marketsAnd sought to strengthen protections for retail investor, in particular.
5. According to Politico, a draft Supreme Court decision that would reverse Roe v. Wade was leaked by the media
Samuel Alito (Associate Justice) participates at the swearing-in ceremony to mark Esper, Defense Secreaty, in Oval Office of the White House in Washington DC on Wednesday, July 23, 2019.
AFP | AFP | Getty Images
The Supreme Court is poised to overturn the landmark Roe v. Wade rulingAccording to leaked draft decisions,, the United States legalized abortion almost 50 years ago. obtained by Politico. Justice Samuel Alito authored the draft opinion. At least four other conservative Supreme Court judges also concurred. Alito stated in the Politico draft that “Roe was fundamentally wrong right from the beginning.” CNBC could not independently confirm the draft decision. Politico claims it was distributed to the justices first in February. Draft decisions do not have to be final. CNBC was not able to reach a spokesperson for the Supreme Court regarding the Politico report.
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