Saturday, May 18, 2024
HomeTrading RoomBefore The Stock Market Opens On Tuesday, Here Are 5 Things To...

Before The Stock Market Opens On Tuesday, Here Are 5 Things To Know

The following news items are the most crucial for investors to know as they begin their trading day:

1. Leads in tech

The Nasdaq Composite increased 1.6% on Monday, marking the largest rise of the month for tech firms, helping to start the week on a positive note. The Dow Jones Industrial Average fell 0.1%, while the S&P 500 increased by over 0.7%. The benchmark 10-year Treasury note hit 4.34%, its highest level since November 2007, during those generally favourable movements. Investors will also be keeping an eye on consumer trends at Lowe’s, Dick’s Sporting Goods, and Macy’s.

2. Distress for homebuyers

On Monday, mortgage rates rose to their highest level in almost 23 years. According to Mortgage News Daily, the average rate on the popular 30-year fixed mortgage hit 7.48%, a level last seen in November 2000. Investors’ concerns over rising interest rates and the possibility of further inflation have caused the spike.

3. Well-equipped

Arm, a company that designs chips and is owned by SoftBank in Japan, has applied to list on the Nasdaq. Chip architecture is created by Arm, which also sells licences for the technology.

4. Google’s fresh security

In the recent months, a number of long-serving top Google executives have resigned from their positions. According to Jennifer Elias of CNBC, the corporation is under pressure from competitors, regulators, and investors.

5. More cash

According to the most recent New York Federal Reserve employment survey, American employees demand better pay than ever before if they are going to take a new job. Given that rising wages are thought to be a primary cause of increasing prices, it’s an indication that the labour market is still hot and that inflation may continue to be greater than the Fed would like. The report, which was made public on Monday, reveals that during the second quarter of 2023, the average “reservation pay,” or the lowest salary offer that can be accepted, increased to $78,645. Employers have made an effort to keep up with salary demands, and in the most recent year, the average full-time offer increased 14% to $69,475.

Source (CNBC)

- Advertisment -

Most Popular

Recent Comments