5 things to know before the stock market opens Monday, March 21
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Investors need the following news, analysis and trends to help them start trading:
1. Wall Street appears steady following the best week since November 2020
Traders in the NYSE Floor, March 18th 2022.
Source: NYSE
U.S. stock futuresThey were unchanged Monday, despite strong gains from last week which saw them gain the Dow Jones Industrial AverageThe S&P 500And the NasdaqEach of them logs their highest weekly performance since November 2020. Dow stock BoeingThe premarket fell 5% following the crash of a 737800 aircraft in China that had 132 people aboard. Investors also watched for news about Russia’s conflict with Ukraine.
- Friday’s rally capped a week in which the Dow rose 5.5%, the S&P 500 gained nearly 6.2%, and the Nasdaq jumped 8.2%. The Dow, S&P 500 and Nasdaq all broke their multiweek losing streaks. The Nasdaq was the only stock that did not experience a correction.
- U.S. oil pricesMonday’s gain was 4%, to $109/barrel as European Union countries. considered joiningConcerns were raised by the United States’ Russian oil embargo. A weekend attack on Saudi Oil Facilities also raised concern.
- It 10-year Treasury yieldMonday was a good day. around 2.24%. Federal Reserve Chairman was elected last week following the first increase in interest rates for more than three decades. Jerome PowellShe will be speaking at the National Association for Business Economics Annual Conference at 12 p.m. ET.
2. Buffett’s Berkshire buys Alleghany at $11.6 Billion
Warren Buffett attending Berkshire Hathaway’s annual Los Angeles meeting. May 1, 2021.
Gerard Miller | CNBC
Warren BuffettBerkshire Hathaway, a Berkshire company, announced Monday that it had agreed to purchase an insurance company AlleghanyFor $11.6 billion or $848.02 each share in cash Alleghany shares closed Friday at $676.75 and rallied to the buyout price Monday in premarket. Buffett did a little research to find the best deal for Alleghany. BerkshireThe massive cash stash of 146.72 billion that he has amassed by the end 2021. This deal is expected to be completed in the fourth quarter this year. It comes after Berkshire’s Class-A shares reached a record last week and closed above $500,000 for first time.
3. Boeing passenger jet collides in China. 132 people were aboard.
China’s civil aviation authority saidChina Eastern Airlines lost control of a Boeing 737-8800 plane Monday, in Guangxi’s southern region. It was unclear what happened to the remaining 123 passengers or crew. Boeing informed The Associated Press it had received initial reports on the crash, and that they were “working to collect more information”. This incident occurs as Boeing has been trying to recover its reputationThere have been a lot of crashes these past years.
4. Biden requests a halt to the addition of Poland; Mariupol denies that it has surrendered its demand
U.S. President Joe Biden addresses a meeting on ARPA-H (a federal health agency) that seeks to speed up progress in curing cancer. It was held in Washington’s South Court Auditorium, on the White House compound, on March 18, 2022.
Al Drago | Reuters
President Joe BidenHe has also added a stop at Poland to his itinerary trip this week to EuropeFor urgent discussions with NATO allies and European allies Russia’s offensive in Ukraine. Poland is a key ally in Ukraine’s crisis and hosts thousands of American soldiers. It also takes in more Ukrainian refugees than any other country. White House officials said that Biden doesn’t plan on traveling to Ukraine.
Russian-backed terrorists have evacuated civilians trapped in Mariupol.
Getty Images| Anadolu Agency | Getty Images
Ukrainian officials meet Monday rejectedIn exchange for free passage out of Mariupol, a Russian demand was made for the surrender of Mariupol. Russian bombardment destroyed a shopping centre in Kyiv’s capital. The Defense Ministry of Britain said Monday that the Ukrainian resistance kept most Russian troops more than 15 miles away from Kyiv’s center.
5. Justice Clarence Thomas in Hospital; Biden Supreme Cour pick Hearing
Washington DC’s Supreme Court on March 9, 2022.
AFP – Getty Images| AFP | Getty Images
Clarence Thomas of the Supreme Court has been hospitalizedSince Friday because of an infection. Although the court did not provide any further information about Thomas’s infection, it said that he was receiving antibiotics and that his flu-like symptoms were improving. Thomas is among the conservative 6-3 majority and plans to attend the proceedings this week, even if the arguments are missed, according to the court.
- While the Senate Judiciary Committee was preparing to commence confirmation hearings on Monday for Ketanji Jackson Brown, Jackson’s 73-year old brother, the Senate Judiciary Committee announced the news about his hospitalization. Biden has chosen the 51-year old judge to replace Stephen Breyer, the retiring liberal justice.
— CNBC reporters Vicky McKeever, Fred Imbert, Evelyn ChengAnd Karen GilchristThis report was also contributed by The Associated Press.
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