Investors should be aware of the following five essential points before beginning the trading day:
1. The Dow is not moving. The Dow Jones Industrial Average continues to rise. The blue-chip index rose 1.85% to settle at 40,954.48 on Tuesday, setting new records.
2. A rocky journey lies ahead Spirit Airlines’ loss is going to be more severe than anticipated. The low-cost carrier stated on Tuesday that it anticipates reporting an adjusted deficit for the quarter that ends on June 30 of between $160 million and $173 million. This exceeds its earlier projection of a maximum $145 million loss.
3. Leaving for Texas It looks like SpaceX and X may be moving their headquarters out of California soon. Elon Musk, the owner and CEO of X and SpaceX, announced on Tuesday that he will relocate both businesses to Texas in response to Gov.
4. Cutting shortly? A reduction in interest rates appears imminent. Based on trading in fed funds futures contracts, the CME FedWatch tool tracks the possibility of changes in the federal funds rate. It indicates that there is a 93.3% chance that the federal funds rate target range will be decreased by the Federal Reserve to a range of 5% to 5.25% in September.
5. “Town of ghosts” Mayoral candidate Mark Farrell claims that San Francisco seems to be a “ghost town.” The Democrat is putting up a 20-year plan to revive San Francisco’s downtown as the city experiences record-high commercial vacancies.
Source (CNBC)
