Here are the most important news, trends and analysis investors need to start their trading day:
People walk along Wall Street near the New York Stock Exchange on March 8, 2022 in New York City.
Spencer Platt | fake images
US stock futures fell slightly on Monday morning as Wall Street appears to recover from a week of losses. The technology-focused Nasdaq Composite saw the biggest declines last week, falling nearly 3.9% as investors braced for more aggressive policy tightening by the Federal Reserve. The S&P 500 fell 1.27%, ending a three-week winning streak, while the Dow Jones Industrial Average fell 0.28%. The 30-stock Dow Jones has fallen two weeks in a row.
Investors will get two key pieces of inflation data during this holiday-shortened trading week. The consumer price index for March is due out on Tuesday, followed by the producer price index a day later. The latest earnings season is also about to begin, led by major banks. JPMorgan is scheduled to release results on Wednesday, with others, including Goldman Sachs, to follow on Thursday.
Traders on the floor of the NYSE, March 25, 2022.
Bond yields rose on Monday morning, with the 10-year Treasury yield rising 4 basis points to a high of 2.76%. The 5-year and 30-year rates remain inverted, which at the end of March happened for the first time since 2006 and added to fears of a possible recession. Bond yields, which move inversely to prices, have risen over the past month as investors brace for more aggressive policy from the Fed.
Oil prices fell more than 4% on Monday, sending benchmark US West Texas Intermediate crude futures below $94 a barrel. International benchmark Brent fell around 4.1% to around $98.50 a barrel. Crude oil has declined for the past two weeks, after the US and other countries announced plans to release oil from their strategic reserves in a bid to make up for lost Russian supply. Covid lockdowns in China, which may weaken demand, have also hit oil prices.
Elon Musk gestures as he speaks during a news conference at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022.
JimWatson | AFP | fake images
Twitter stocks fell Monday in pre-market operations after CEO Parag Agrawal announced in a tweet Sunday night that Elon Musk is no longer joins the board of directors of the social network. Securities filings released last week revealed that MuskDirector of Tesla and the private rocket company SpaceX, had become Twitter’s largest individual shareholder. Plans to name Musk to Twitter’s board followed, prompting speculation about how the world’s richest person and frequent tweeter would influence the company.
Agrawal did not say whether Musk offered specific reasons for choosing not to become Twitter’s director. While Agrawal warned of “distractions to come,” the CEO said Twitter would “remain open” to input from Musk.
Guangzhou city’s 11 districts began another round of mass covid testing late last week, while primary and secondary schools switched to online learning from Monday.
cost photo | Future publications | fake images
Inflation in China entered hotter than expected for the month of Marchas the world’s second largest economy experiences its worst wave of Covid infections since the start of the coronavirus pandemic in early 2020. Major Chinese stock indices fell on Monday, with the Shenzhen Component Y Shanghai Composite falling almost 3.7% and 2.6%, respectively.
Tighter health restrictions are being imposed in Guangzhou, which is the capital of Guangdong province, which has a large production. The city is moving primary and secondary classes to online instruction for at least a week, and residents are not allowed to leave Guangzhou without a “definite need.” The Associated Press reported; they must also show a negative Covid test within 48 hours to do so.
However, the covid lockdowns in Shanghai may be declining in certain residential areas with no new cases during a two-week window, according to Reuters. China’s most populous city is experiencing a record number of new Covid infections, but weeks-long strict restrictions have left some residents struggling. get enough food and medicine.
Zelenskyy tells South Korean lawmakers that nearly 300 hospitals have been destroyed in Ukraine.
Chung Sung Jun | AFP | fake images