Stock Groups

5 things to know before the stock market opens Wednesday, June 8


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

1. The 10-year Treasury yield of above 3% causes stock futures to fall

Traders on the floor at the NYSE, June 7, 20,22

Source: NYSE

U.S. stock futuresFollowing back-toback Wall Street gains Wednesday, the benchmark fell. The benchmark added pressure to the situation. 10-year Treasury yieldMoved above 3%, again. Higher interest rates are a result home loan demandWeekly data from Mortgage Bankers Association shows that it has fallen to its lowest level for 22 years. TargetThe premarket saw shares fall nearly 2% The retailer’s profit warnings and stock reduction plans were accepted by investors, who recovered most of Tuesday’s steep losses. This is the Dow Jones Industrial AverageIt is the S&P 500And the NasdaqTuesday all rose nearly 1%After opening solidly lower, they recovered as the day went on.

2. The Fed’s closely watched tracker suggests a possible recession

The Federal Reserve is one of the central banks in Western countries that fight stubbornly high levels of inflation.

Xinhua News Agency | Xinhua News Agency | Getty Images

You can find the following: Federal ReserveGets ready to receive Friday’s consumer inflation report in advance of the Atlanta Fed’s next-week meeting. showsThe U.S. could see a third consecutive quarter of declining growth. This would be considered a recession technically. Due to rising inflation this year, the talk of recession is intensifying. It has also impacted corporate profits outlooks. Wall Street is still expecting the U.S. combination of consumer spending resilience and job growth to keep it out of the recession.

3. Janet Yellen says Biden’s Covid spending didn’t cause inflation

Janet Yellen, U.S. Treasury Secretary, testifies before the Senate Finance Committee at Dirksen Senate Office Building in Washington DC on June 7, 2022.

Alex Wong | Getty Images

The most obvious sign of inflation has been in energy costsWith U.S. crude oil prices returning to the top, this is $120 per barrelWednesday morning’s national average price per gallon, as reported by AAA, is only 4 cents from $5. Treasury Secretary Janet YellenOn Tuesday, she told Senators that she expected inflation to remain high. An ex-Fed chair, Yellen has repeatedly denied Republican accusations that inflation was fuelled by $1.9 trillion of Covid spending legislation passed last year. Wednesday will see Yellen address a House panel.

4. Moderna claims that omicron booster is better than the original Covid shot

An Enfermera Isabel Zendal Hospital in Madrid prepares a needle with Moderna coronavirus (COVID-19), vaccine, on July 23, 2021.

Juan Medina | Reuters

ModernaWednesday, the company announced that it has redesigned its Covid booster shot appears to provideThe current shot provides stronger protection than the current. The reformulated shot showed an 8-fold increase in the neutralizing antibody levels, according to early trials. According to Moderna, the company’s new vaccine was also able to increase antibody levels against other Covid variants. Moderna stated in a release that it is the “lead candidate” for its Fall 2022 booster. Moderna shares fell by more than 1.5% during Wednesday’s premarket. This stock is down more than 40% in the past year.

  • NovavaxPremarket trading saw a 10% rise, and the following morning it rose to 10% it won an endorsement of its Covid vaccineA panel of experts from the Food and Drug Administration. Approval by the full FDA is now up for consideration. It would mark the fourth vaccine that has been approved in the United States.

5. Spirit calls off shareholder meeting in order to keep the deal discussions going.

JetBlue Airlines planes can be seen next to Spirit Airlines planes at Fort Lauderdale Hollywood International Airport (May 16, 2022) in Fort Lauderdale, Florida.

Getty Images| Getty Images News | Getty Images

Spirit Airlinesa postponement of its Friday shareholder meeting to June 30 so that the ultra-low-cost carrier can continue talksIts investors should be informed about the two possible buyouts from direct competition. Frontier AirlinesThe bigger, the better JetBlue Airways. Spirit’s announcement comes two days following JetBlue’s sweetening of its offer for discount airline JetBlue, which had been in negotiations with Frontier to merge since February.

— CNBC’s Yun Li, Jesse Pound, Tanaya Macheel, Jeff CoxAnd Leslie JosephsAdditionally, NBC News as well as Reuters contributed to the report.

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