The following news items are the most crucial for investors to know before their trading day begins:
1. Federal Reserve Day
As investors wait for the outcome of this week’s Federal Reserve policy meeting, trading has been largely calm so far this week. The Nasdaq Composite dropped 0.23%, the S&P 500 dropped 0.22%, and the Dow Jones Industrial Average dropped 0.31% on Tuesday. The outlook for stock futures was equally negative on Wednesday morning. Almost no one is surprised if the Fed decides against raising rates and to leave them unchanged. Investors will be looking for any hints on Wednesday as to what the Fed intends to do going forward.
2. Taking the stage
Instacart saw a 12% increase in its Nasdaq debut on Tuesday. The initial public offering price of $30 per share was raised by 40% when the stock began, but the surge fizzled out later in the day. It started trading at $42 a share and ended trading on Tuesday at $33.70 per share, valuing the business at just over $11 billion. The recent spate of IT IPOs is still ongoing, though.
3. Disney increases their stakes
Disney will almost quadruple the amount it intends to invest in its theme park division. In a securities statement on Tuesday, the business stated that it anticipated investing $60 billion in the division over a ten-year period. Theme parks have been a bright spot for the firm as it strives to make its streaming business successful and contends with a shifting media landscape. Attendance and hotel room occupancy declined at its domestic sites, particularly Walt Disney World in Florida. However, international parks have continued to be a source of strength. Tuesday saw a more than 3% decline in the price of Disney’s stock.
4. The parents of SBF
The parents of controversial founder and former CEO Sam Bankman-Fried are being sued by bankrupt cryptocurrency exchange FTX. The business said that it was attempting to recover from Allan Joseph Bankman and Barbara Fried luxury real estate as well as “millions of dollars in fraudulently transferred and misused monies.”
5. Licenced party crasher
As the person in charge of stopping unauthorised gatherings at Airbnbs, Naba Banerjee has had some success. Between August 2020 and August 2022, the number of parties reported on Airbnb decreased globally by 55%. More than 320,000 guests have been banned or redirected from booking attempts ever since she implemented a new AI system designed to identify reservations that are more likely to be parties.