Stock Groups

5 things to know before the stock market opens Tuesday, June 7


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

1. Wall Street will open at a lower level, while bond yields stay high

Traders are seen working at the NYSE floor, June 6, 2022.

Source: NYSE

U.S. stock futuresOn Tuesday, the bond yields were elevated and dropped. playing spoiler again. Also, sentiment took a beating on shares TargetPremarket declines of more than 8 percent in response to a profit warning

  • It Dow Jones Industrial AverageBy the time the benchmark closed, Monday’s gain of more than 300 points was almost gone 10-year Treasury yieldIt topped 3% and reached its highest level highest level in nearly a month.
  • It S&P 500The NasdaqThey were able hold onto more Monday gains than the Dow and finished 0.3% higher respectively.
  • Despite strong gains in the week leading up to Memorial Day, last week’s losses kept the Dow and the S&P 500 firmly in corrections and the Nasdaq in a bear market, based on declines from their prior all-time highs.

2. Target shares drop after warnings from the retailer about earnings

On May 18, 2022, a person enters Target in Washington DC.

Getty Images| AFP | Getty Images

Target warnedOn Tuesday, earnings may take a slight hit due to Target marking down and cancelling unwanted products as well as taking aggressive steps in getting rid of excess stock. Target expects that its fiscal second-quarter operating margin rate will hover around 2%. It’s lower that the forecast it issued less than three months ago when it announced a larger fiscal first-quarter earnings missed, which caused Target stock to fall 25%.

3. Kohl jumps following sale negotiations with Vitamin Shoppe’s owner

On the outside of a Kohl’s store in San Rafael (California), you can see the Kohl’s logo.

Justin Sullivan | Getty Images

Kohl’sThe premarket saw shares rise nearly 10% on Tuesday, just hours after the Department Store Chain announced its plans to close. entered into exclusive sale negotiationsThe Vitamin Shoppe is now Pet Supplies Plus. Franchise GroupKohl’s is being offered to be bought for $60 per share. This represents a 40% premium over Monday’s closing. Franchise GroupAccording to someone familiar, Oak Street Real Estate Capital is financing the deal predominantly through real estate.

4. Two days of testimony by Capitol Hill on Inflation will be opened by Yellen

Janet Yellen is the US Treasury secretary and will give the lecture on “Tommaso Padoa Schioppa”, Tuesday, May 17, 2022 at the Brussels Economic Forum.

Getty Images| Bloomberg | Getty Images

Inflation is the main topic on Capitol Hill, ahead of Friday’s reading on May consumer price. This week, Treasury Secretary Janet YellenTestifies before two Senate panels Tuesday and Wednesday. Yellen was formerly the chairperson of Federal Reserve. faces tough questionsThe Biden Administration’s handling of the economy since she wrongly believed that inflation was temporary. The national average price for one gallon of gasoline has increased to $5 after a forty-year period of high inflation. according to AAA.

5. Two senators propose a bipartisan bill that regulates cryptography

Washington, D.C.: U.S. Capitol Building

Liu Jie | Xinhua News Agency | Getty Images

Sens. Kirsten GillibrandCynthia Lummis (R-Wyo.), and, D.N.Y. unveiledA bipartisan bill is being introduced to establish a crypto regulatory framework. Lummis and Gillibrand’s bill is the result of many months of Capitol Hill cooperation. It would classify the majority of digital assets in the world as commodities. Responsible Financial Innovation Act would allow the Commodity Futures Trading Commission (CFTC) to manage most digital assets. Lummis as well Gillibrand are keen to see their states become crypto and blockchain havens.

— CNBC’s Tanaya Macheel, Melissa Repko, Lauren ThomasAnd Thomas FranckThis report also included contributions from Reuters.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every stock move. You can follow the market like a professional. CNBC Pro.