June 13, 2024

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5 things to know before the stock market opens Monday

2 min read

Here are the most important news items that investors need to start their trading day:

1. Winning ways

Investors hope stocks can start a winning streak after the three major U.S. averages enjoyed their best week of the year so far. The Dow Jones Industrial Average rose about 5% last week, while the S&P 500 climbed 5.9% and the Nasdaq Composite jumped 6.6%. The gains followed a tough stretch in which the S&P dropped into correction territory. Lower than expected job creation in October sent bond yields lower and helped stocks Friday. Remarks from Federal Reserve Chair Jerome Powell and other central bank officials in the coming days will offer clues about how that data will shape policymakers’ views on interest rates, after the Fed kept rates unchanged Wednesday for its second straight meeting. Follow live market updates here.

2. An ear to earnings

The earnings slate for the coming days is lighter than the deluge that hit the market in recent weeks. Even so, major names including Walt Disney, Uber, Warner Bros. Discovery, Biogen and MGM Resorts will offer investors updates on their financial health this week. Earnings season has so far been a pleasant surprise for investors. With more than 400 S&P 500 companies reporting as of Friday, earnings had climbed 5.7% from the year-ago period, according to LSEG, formerly known as Refinitiv. Revenue growth had come in lower at 1.2%. Here are the key reports expected this week:

  • Tuesday: Uber (before the bell); Lucid, Rivian (after the bell)
  • Wednesday: Biogen, Under Armour, Warner Bros. Discovery (before the bell); Walt Disney, Lyft, MGM Resorts (after the bell)

3. Trump testifies

Former President Donald Trump is set to take the witness stand Monday in a civil fraud trial in New York, in only one of the proceedings hanging over the 2024 Republican presidential frontrunner as he mounts a third bid for the White House. New York Attorney General Letitia James accuses Trump and his two adult sons of misstating the value of key…

2023-11-06 07:43:00

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