5 things to know before the stock market opens Monday, April 25
[ad_1]
These are the top news, trends, and analyses that traders need in order to get started with trading.
1. Wall Street will open lower following Friday’s steep declines
On March 30, 2022, traders work at the New York Stock Exchange floor in New York City.
Michael M. Santiago | Getty Images
U.S. stock futuresThe new week began with sharp falls on Wall Street, a result of Friday’s plunge. As concerns grew over how aggressive the Federal Reserve might be when raising interest rates in an effort to reduce inflation, the Dow Jones Industrial AverageFor its 2.8% drop in points (981), fourth straight negative week. The S&P 500And the NasdaqSimilar losses were experienced by the Nasdaq, which fell 2.8% and 2.6% respectively for their third consecutive week of negative results. Friday was a bear market day for the Nasdaq. The 10-year Treasury yieldMonday backed awayFrom last week’s highs in late 2018, over 2.9%
2. As Shanghai lockdown persists, oil and Chinese stock are crushed
As Shanghai fights its worst Covid pandemic since it began, residents in so-called containment structures look out from their balconies.
CFOTO| Future Publishing | Getty Images
The oil price dropped 4.5% Monday. extending last week’s declineConcern grew over the length of Covid lockdowns being implemented in Shanghai as well as further U.S. rate increases. This was due to concerns about global economic growth and oil demand. China is struggling to control its worst Covid pandemic, as well as rising numbers in Beijing. slammed Chinese stocks. Shanghai Composite fell 5.1%, and the component from Shenzhen tumbled 6.6%. The Hang Seng index in Hong Kong fell 3.7%. Japan’s Nikkei dropped nearly 2%.
3. Coca-Cola’s Profit Beat leads Busiest Week of Earnings
Colonial Liquors displays Coca Cola bottles in their cooler on February 10, 2022, Corte Madera (California).
Justin Sullivan | Getty Images
Coca-ColaOn Monday, the quarterly earnings and revenues were reported. topped expectationsConsumers drank more Powerade, the company’s trademark soda. The company maintained its earnings and full-year revenue outlooks, despite the Russian suspension. This week is the busiest of the earnings season, with about 160 companies in the S&P 500 expected to report, including megatech names Amazon, Apple, Google parent Alphabet, Meta Platforms and Microsoft.
4. Twitter surges by 5% in response to Elon Musk’s report
Twitter shares jumpedAccording to reports, Musk could make a deal today with Elon Musk in the premarket, 5% of the stock market was up. Musk had offered to purchase the company earlier this month. This was after SpaceX and Tesla CEOs disclosed $46.5 billion of secured financing. CNBC reported that Twitter’s board had met to discuss Musk’s proposal for financing.
5. As officials visit, the U.S. promises more military aid to Ukraine
U.S. Secretary Of State Antony Blinken, and U.S. Defense Secretary Lloyd Austin visited UkraineVolodymyr Zelenskyy (Ukraine’s President) met with them on Sunday to discuss military support. The meeting took place in Kyiv. It was shrouded by secrecy. This visit, the most high-ranking U.S. officials have made to Ukraine since the invasion, saw the United States pledge just $700 million to support the war effort in Ukraine. The third month of Russia’s invasion in Ukraine began on Sunday.
— CNBC’s Sarah Min, Abigail Ng, Amelia Lucas, Jessica Bursztynsky, Natasha Turak, Holly Ellyatt as well as Reuters contributed to this report.
— Sign up now for the CNBC Investing Club to follow Jim Cramer’s every stock move. Like a pro, follow the wider market action. CNBC Pro.
[ad_2]