5 things to know before the stock market opens Friday, June 10
Investors need the following news, analysis and trends to help them start trading:
1. Wall Street holds firm ahead of the key inflation report
Traders trade on the New York Stock Exchange’s floor
U.S. stock futuresInvestors waited for Friday’s release of the key inflation report. They 10-year Treasury yieldFreitag remained above 3%Before May’s consumer prices data which will be released at 8:30 AM, ET. Rising bond yields on Thursday slammedThe stocks Dow Jones Industrial AverageIt fell to 638 points (or nearly 2%). The S&P 500The NasdaqThe losses were approximately 2.4% and 2.8% respectively.
- On Thursday, major tech companies struggled with Facebook parent. Meta PlatformsSliding 6.4% AmazonYou can drop more than 4% AppleSinking by 3.6% These shares saw a rebound in Friday’s premarket trades.
- However, Netflix slid 4.5% in premarket trading after Goldman Sachs downgradedStock to be sold at neutral. The price target has been reduced to $186 per shares from $265. Netflix was almost 5% less than its closing price on Thursday, at $193 per share.
2. Last month’s consumer prices are forecast to continue at a high level.
On May 26, 2022, a supermarket opened in Washington, D.C.
AFP – Getty Images| AFP | Getty Images
Dow Jones survey of economists shows that they are expecting the following: May’s consumer price indexTo show an 8.3% annual increase over April, it was the same as April. Inflation year-over–year reached an all-time high of 8.5% during March. Federal Reserve expects to increase interest rates by half-point next week. Another half-point is planned for July. The pace of fighting four-decades high inflation will be less certain after this. The stock market is falling as a result of rising bond yields and concern about the Fed’s tightening approach, which could lead to a worsening economy.
3. Average national gas price just 1 cent lower than $5/gallon
New Jersey gas stations will display gasoline prices exceeding $5.00 per gallon on June 7, 2022.
Lokman Vural Elibol | Anadolu Agency | Getty Images
The average national price of a gallon gas is $1. according to AAAAs oil prices climb higher, a steady increase in shale is evident. It’s now only 1 cent below $5 The benchmark American oil price, West Texas Intermediate crude rose on Friday trading at more than $122 per barrel. These gains were however limited by traders concerned that the new Shanghai lockdown for mass Covid testing could outweigh the solid oil and gas consumed for America’s largest consumer. For the moment, however, the peak summer in U.S. demand was driving crude prices up.
4. Signals of business weakness lead to the destruction of two stocks that are primarily stay-at-home.
The shares of two companies which prospered during the recession were shared the Covid pandemicThe morning following signals of weakness in businesses,, saw their shares drop in Friday’s Premarket.
Crushed stay-at home stocks
DocuSignThe premarket fell 25% Vendor of electronic signature software weaker-than-expected earningsIts fiscal first quarter revenue beat was overshadowed by a loss. Stitch FixThe drop in trading before the bell fell to 14% Online personalized styling platform confirmedIt had planned to lay off 15% of its salaried workforce members after it announced disappointing quarter results and warned about the next quarter.
5. Capitol Riot House Panel Blames Trump For Jan. 6’s ‘attempted Coup’
Donald Trump addresses supporters at The Ellipse, near the White House, on January 6, 2021 in Washington DC.
Brendan Smialowski AFP | AFP | Getty Images
House Select Committee investigating Jan. 6 Capitol Riot began laying outThe panel’s first findings were Thursday night, the first in a series to be held publically. It was deemed an attack that occurred spontaneously by the panel. “attempted coup”It is also a direct product of President Obama’s defeat. Donald TrumpTrump’s attempt to reverse the 2020 election. In a post on social media, Trump criticized the committee’s inability to show “the many positive witnesses” or play “only negative footage”. In the weeks ahead, more hearings will take place.
— CNBC’s Jesse Pound, Samantha Subin, Patti Domm, Jordan Novet, Lauren Thomas Kevin BreuningerAs well as The Associated Press, this report was contributed to by both.
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