5 things to know before the stock market opens Tuesday, May 17
These are the top news, trends, and analyses that traders need in order to get started with trading.
Traders at the NYSE floor, May 16-2022
U.S. stock futuresThe rally was held Tuesday with the S&P 500The NasdaqSet to increase approximately 1.5% or nearly 2% respectively. These are the The Dow Jones Industrial AverageWere ready to open more than 350 points (or 1% higher).
- This is despite the nearly 6% decline in Dow components premarket WalmartDue to rising costs, mixed results in the fourth quarter.
- It’s a different story here Home DepotIt has survived inflation. After stronger quarterly results, the Dow stock gained 3.5% in premarket.
- United AirlinesThe premarket rose 4% Tuesday morning, just after increasing its current quarter forecast. This was in anticipation of its busiest summer ever since the Covid pandemic.
- In a choppy session Monday, following multiweek losing streaks, the Dow rose slightly and the S&P 500 fell slightly. The Nasdaq dropped 1.2%.
It 30-year Treasury yieldThe ticker rose to 2.95 % Tuesday after the before-the bell release by government showed an increase of 0.9%. April retail salesEach month, sales have increased by 8.2%. Year over year, retail sales rose 8.2%. Sharply, the March figures were revised higher. Investors are hoping to learn from all the retail numbers how consumer are reacting to rampant price pressures — and in turn, whether the Federal ReserveTo combat inflation, it may be necessary to increase interest rates.
On Sunday, May 15, 20,22, workers moved shopping carts out of a Walmart in Lakewood (California), USA.
Getty Images| Bloomberg | Getty Images
Walmart reported Tuesday its first quarter earnings missed expectations by a wide margin. Rising fuel costs and rising food prices put the pressure on America’s largest retailer and grocer. Estimates were exceeded by revenue for the quarter. This mixed outlook was reflected in Walmart’s guidance. It raised its outlook for this year, but decreased profit expectations. CNBC’s Chief Financial Officer Brett Biggs stated that Walmart workers returning from Covid left more quickly than anticipated, leading to the company becoming overstaffed.
On Thursday, May 12, 2022, a Home Depot store was opened in Livermore (California), USA. Home Depot Inc. plans to publish earnings figures May 17. Photographer:
Bloomberg | Bloomberg | Getty Images
Home Depot expects the trend to continue despite inflation spikes. On Tuesday, the company reported better-than-expectedFirst quarter earnings and revenue. Home Depot increased its full-year outlook. It now expects sales to grow by about 3%, and earnings per share growth to be in the middle single digits. Ted Decker is the CEO of Home Depot’s Q1 results.
4. Musk claims that the Twitter deal is ‘impossible to move forward’ until he receives clarity regarding bots
Elon Musk during an event at SpaceX Headquarters, Hawthorne in California on Thursday October 10, 2019
Elon MuskHe said that his purchase of Twitter for $44 Billion was a good deal will not move aheadHe will not be able to determine how many accounts are false until then. TwitterThis number was estimated at less than 5% during the quarter, according to a filing made earlier in this month. Musk is the CEO TeslaSpaceX estimates that bots are around 20%, with fears of higher numbers. In Tuesday’s premarket, Twitter shares fell 1%. All gains in Twitter stock since Musk made the announcement about his investment on April 4, are gone. The price is still well below Musk’s $54.20 share offer.
Warren Buffett speaking at a press conference in the Berkshire Hathaway Shareholders meeting, April 30, 2022.