The following news items are the most crucial for investors to know before their trading day begins:
1. The situation of the consumer
As the month continues to be flat, stock futures were slightly higher on Monday. Futures for the Nasdaq-100 rose 0.4% while those for the S&P 500 rose 0.2%. While this was happening, the Dow Jones Industrial Average increased by 56 points, or 0.2%. More information regarding the state of the consumer may become available this week.
2. Big Box Sales
Even though earnings season is coming to a close, some well-known brands are still scheduled to report. This week, a number of significant merchants must publish their financial results. Leading the pack are Home Depot, TJX Cos., Walmart, and Target. Investors may get knowledge from those studies on the state of the American consumer, a crucial indicator as the economy struggles to stay out of a recession.
3. SBF is imprisoned
Sam Bankman-Fried, the founder of FTX, had his bail revoked and was sent to jail on Friday due to alleged witness tampering. According to jail records, he was taken to a detention facility in Brooklyn immediately after being remanded to custody during a court hearing in New York. Since his detention in December, Bankman-Fried has been free on a $250 million bail package, which necessitated that he stay at his parents’ Palo Alto home. However, due to his continuous contact with the media, including his release to the New York Times of Caroline Ellison’s personal journal entries, the prosecution moved to have his bail revoked.
4. China’s financial concerns
There are greater economic difficulties in China. Consumer confidence is low, and the demand from individuals and businesses wishing to borrow money for the future has decreased, according to credit data issued on Friday. The vast real estate market in China, which holds the majority of household wealth, is also showing signs of possible issues once more. Meanwhile, Reuters polled experts who predicted that Tuesday’s industrial production and fixed asset investment statistics would show continued weakness in the economy.
5. Currency exchanges and counterexchanges
A psychologically significant level for the nation’s battered currency during its protracted conflict with Ukraine, the Russian ruble momentarily slipped past 100 to the dollar on Monday. The ruble has fallen over 30% against the dollar since the year’s beginning and is getting close to a 17-month low. At least three persons were hurt when more Russian drones and missiles struck the important Ukrainian port city of Odesa. However, the assault has moved more slowly than anticipated and progress has been hampered by the vast minefields that Russia has placed. Ukrainian officials stated they had experienced “some success” in their ongoing counteroffensive operations.
Source (CNBC)
