Friday, May 17, 2024
HomeTrading RoomBefore Monday's Stock Market Opens, Here are Five Things to Know

Before Monday’s Stock Market Opens, Here are Five Things to Know

To begin their trading day, investors should be aware of the following key news items:

1. Time for corrections

For the S&P 500, these are difficult times. The benchmark index is currently more than 10% below its year-high and is headed for its third straight month in the red, a feat it hasn’t accomplished since 2020. It is now in correction zone alongside the Nasdaq. What happens this week will determine a lot of whether things can improve.

2. Catch the profit surge

Another week, again another enormous profits report. Monday morning’s activities begin with McDonald’s, and Pinterest is scheduled to report following the closing bell. But those well-known names are only a hint of things to come. Here are a some of the well-known businesses that are reporting this week:

Tuesday: Advanced Micro Devices (after the bell); Pfizer and Jetblue (before the bell).
Wednesday: Qualcomm, Airbnb, Kraft Heinz, Yum Brands (before the bell);
Thursday: Apple, Paramount Global, Starbucks, Eli Lilly, and Moderna (before the bell);
Friday: Prior to the bell, Restaurant Brands
Berkshire Hathaway on Saturday

3. White House commentary on AI

In an effort to address a wide range of concerns over the quickly evolving and gaining popularity of this technology, President Joe Biden signed an executive order on Monday that addressed artificial intelligence. The mandate is the first of its kind to be created by the government, according to the White House.

4. An odd automaker

As the weekend approached, it appeared like General Motors and the United Auto Workers were very close to reaching an agreement that would put an end to their six-week planned strike. To many’s surprise, Stellantis was the one who finalised the arrangement during the weekend talks, working with Ford to reach a provisional accord with the union. As an alternative, the UAW extended its specific attacks against GM to a Spring Hill, Tennessee, assembly facility.

5. Prepared to move

Employees in pharmacies around the country at companies like Walgreens feel overworked and overloaded. Some claim to be reaching their breaking point, and they are expressing their annoyance by momentary walkouts. Retail pharmacy technicians and pharmacists at Walgreens, CVS and other stores intend to stage a walkout on Monday through Wednesday at various times and locations around the nation. According to one organiser, it might impact hundreds of retailers, as CNBC’s Annika Kim Constantino reported. CVS and Walgreens representatives stated that their companies are attempting to support their employees and resolve any issues they may be having.

Source (CNBC)

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