Here are the top news, trends and analysis that investors need to start their trading day:
The Wall Street sign with the United States flags is seen outside the New York Stock Exchange.
Yuki Iwamura | Afp | Getty Images
Dow Jones futures contracts It jumped 400 pips, or 1.4%, on Tuesday after a week of terrible selling. S&P 500 and Nasdaq futures rebounded about 1.5% to start the holiday week. The 10-year treasury bond yield Tuesday Remaining from the highest levels of 2011, approximately 3.28%, a level that helps relieve pressure on stocks. After the biggest last week Federal Reserve Interest rate hike since 1994 to fight inflation Fed Chairman Jerome Powell He is due to deliver his semi-annual monetary policy report to Congress on Wednesday and Thursday.
- The Standard & Poor’s 500The weekly decline of 5.8% was its decline The worst since March 2020the month the Covid pandemic was announced, as investors were concerned about a recession.
- The daw It closed under 30,000 again on Friday and lost 4.8% last week. This is the weakest weekly performance for an average of 30 stocks since October 2020.
- No superlatives for bad performance Nasdaq4.8% weekly loss.
- All three stock indices fell for three consecutive weeks. The S&P 500 and Nasdaq have seen weekly losses in 10 of the past 11 sessions, and both are in bear markets. The Dow’s negative week was the 11th out of the past 12 weeks, in a sharp correction.
West Texas Intermediate Crude, The US oil index rose 2% on Tuesday to About $110 a barrel, which led to a strong pre-market rally in energy stocks. However, WTI fell more than 9% last week, breaking a seven-week winning streak and settling on Friday about 15% below the level. 13-year highs in early March at $130.50. Swinging concerns about supply and demand due to geopolitical factors, including the Russian war in Ukraine, and the escalating COVID-19 lockdowns and restrictions in China, have kept oil and gasoline prices high.
Kellogg Announced plans Tuesday for Separate into three independent companies. The food giant will separate from its North American grain and plant-based division, two units that accounted for about 20% of its revenue last year. The third independent company will be the remaining businesses — including international snacks, pasta, and cereals and North American frozen breakfast brands, which accounted for about 80% of their 2021 sales. CEO Steve Cahillan told CNBC on Tuesday that it’s possible the Kellogg name will live on. Somehow. Kellogg’s shares jumped 6% in the primary market after the announcement.
shares Spirit Airlines It jumped 9% on Tuesday in the primary market but remained lower Jet BlueEnhanced buyout bid of $33.50 per share on Monday. Spirit said last week that it is in talks with JetBlue about its proposal and is expected to make a decision on the proposal by June 30. JetBlue said its proposal represented a 68% premium over the implied value of the competing cash and stock offer from Frontier Airlines’ parent company.
Elon Musk He said there Three major obstacles to overcome it before he can complete the $44 billion purchase Twitter. In a Bloomberg interview on Tuesday, the CEO of Tesla SpaceX said there are a number of “unresolved matters” that will need to be resolved before it can proceed with the acquisition: fake accounts, debt financing, and shareholder approval on Twitter. The fate of the deal has become more uncertain in recent weeks after Musk threatened to walk away from questions about Twitter’s disclosure of the number of spam accounts on the platform.
Bitcoin It rose more than 5% on Tuesday, Again over $21,000 distance Wild long weekend. The world’s largest cryptocurrency, on Saturday, fell as low as around $17,600, falling below the key $20,000 level for the first time since December 2020. At its lowest level on Saturday, bitcoin was 74% below its all-time high by more than from 68000 dollars. In November, which was the month of the Nasdaq’s latest record high. Bitcoin is trading alongside the tech-heavy index, dropping the cryptocurrency’s argument as a way to hedge against inflation like gold.
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