Sunday, April 14, 2024
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Tuesday’s Stock Market Opening

Here are the top news stories that investors need to know before they begin their trading day:

1. A safe place

As investors look for a safe haven in the midst of the bloodshed in Israel and the Gaza Strip, bond yields are lower on Tuesday morning. This is the first yield change in response to the geopolitical concerns because the bond market was closed on Monday in observance of Columbus Day.

2. Border siege

After attacks by the Palestinian terrorist organisation Hamas on southern Israel for four days, Israel claims to have recovered control of the country’s border with the Gaza Strip. The nearly 2.3 million residents of the impoverished area are no longer receiving food, water, or electricity as a result of an Israeli government order to suspend all airstrikes over the Gaza Strip.

3. Peppy Report

Earlier last week, Pepsi began reporting its latest earnings. The multinational beverage company increased its projection for full-year profitability after exceeding analysts’ expectations. Following a lavish summer for many Americans, it is the first of the September-quarter figures to be released. On Thursday morning, big banks JPMorgan Chase, Wells Fargo, and Citigroup release their quarterly reports. Delta Air Lines and Walgreens Boots Alliance follow on Friday morning.

4. Rinse and re-Peltz

Nelson Peltz might be preparing to reopen his proxy conflict with Disney. According to Alex Sherman and Lillian Rizzo of CNBC, the activist investor’s company, Trian Fund Management, upped its investment in the media giant to around 30 million shares. Trian is now one of Disney’s top stockholders after the acquisition, which increases its overall holding to nearly $2.5 billion.

5. Oh, Canada

The fact that Canadian autoworkers have joined their American counterparts in a strike against the automaker has given General Motors a new headache. There was a deadline of midnight the previous night for the Unifor union and GM to reach a new labour agreement. Unifor is a union that represents around 18,000 Canadian workers at Detroit’s automakers. In the event that this isn’t done, GM will be supported by another 4,300 autoworkers on strike. In addition to other things, the latest strikes in Ontario have an impact on the manufacturing of select Chevrolet Silverado vehicles and the engines used in Chevrolet Equinox models.

Source (CNBC)

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