Here are the top news, trends and analysis that investors need to start their trading day:
Traders working on the floor of the New York Stock Exchange
New York Stock Exchange
US stock futures It fell sharply after the inflation report before the bell on Friday showed a larger-than-expected increase. On the data, the file 10-year treasury bond yield It initially jumped to over 3.08%. Bond yields rise Thursday Criticize stock like Dow Jones Industrial Average It fell 638 points, or nearly 2%. The Standard & Poor’s 500 and the Nasdaq It lost approximately 2.4% and 2.8%, respectively.
- Big tech names struggled Thursday, with a parent on Facebook ID pads slip 6.4%, Amazon decreases more than 4% and apple 3.6% sank. These stocks saw a rebound in Friday’s trading in the primary market.
- but, Netflix It fell 4.5% in pre-market trading after Goldman Sachs lowered Selling the stock from neutral and lowering the target price to $186 per share from $265. Netflix closed down about 5% Thursday at about $193 per share.
A supermarket in Washington, D.C. on May 26, 2022.
Nicholas Cam | AFP | Getty Images
Consumer Price Index for the month of May It increased 8.6% year over year, the fastest progress in more than 40 years. On a monthly basis, the headline CPI rose 1%, which is also higher than expected. The Federal Reserve is expected to raise interest rates by half a point next week and another half point in July. But then, the pace of the fight against high inflation from four decades ago became less clear. Bond yields rose and stock markets fell on concern that the Fed’s approach to tightening must become more aggressive to calm price pressures, threatening to plunge the economy into a recession.
Gas prices above $5.00 per gallon are displayed at gas stations in New Jersey, USA, on June 7, 2022.
Luqman Vural Elibol | Anadolu Agency | Getty Images
The national average price of a gallon of gas, According to AAA, continues to gradually rise, now just shy of 1 cent of $5, as oil prices continue to rise. West Texas Intermediate crude, the US benchmark, rose on Friday, Trade over $122 a barrel. However, those gains were capped as traders worried that new lockdown measures in Shanghai for mass testing for Covid could outpace the consumption of solid oil and gas for the world’s largest consumer, the United States. But for now, the impulse summer peak of demand in the US has been boosting crude oil prices.
Shares of two companies that flourished during them covid pandemicin the first market on Friday, the next morning for signs of weakness in their business.
DocuSign 25% sank in the premarket. Electronic signature software vendor Weaker than expected earnings For its first fiscal quarter it overshadowed the revenue win. stitch repair It was down almost 14% in circulation before the bell period. Online personal design platform confirmed Laying off 15% of paid jobs within its planned workforce as it reported disappointing quarterly results and cautioned for the current quarter.
US President Donald Trump speaks to supporters of The Ellipse near the White House on January 6, 2021, in Washington, DC.
Brendan Smilofsky | AFP | Getty Images
The House of Representatives selected the committee to investigate the January 6 riot in the Capitol started to put His preliminary findings Thursday evening are in the first of a series of public hearings. The commission said that the attack was not spontaneous and described it as “attempted coup” As a direct result of the defeated president at the time Donald TrumpEfforts to cancel the 2020 election, Trump, in a social media message after the hearing, criticized the committee for not showing “many witnesses and positive statements” and for playing “only negative shots.” More hearings are scheduled over the next few weeks.
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