Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

5 things to know before the stock market opens Monday

by
November 8, 2021
in Trading News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

FDA advisors recommend replacing original Covid vaccine with bivalent omicron shots for all doses

Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning

Here are the most important news, trends and analysis that investors need to start their trading day:

Dow futures higher after more Wall Street records FridayEther hits a record as bitcoin inches toward its all-time highTesla slides 5% after Musk proposes sale of 10% of his stockRegeneron’s Covid antibody therapy shows long-term protectionAppeals court freezes Biden mandate; U.S. lifts travel restrictions

1. Dow futures higher after more Wall Street records Friday

Traders on the floor of the NYSE

Source: NYSE

The Dow is set to start the week where it left off. The 30-stock average closed at another record Friday and so did the S&P 500 and the Nasdaq, following a better-than-expected October jobs report. All three benchmarks saw solid gains in the first week of November. Stocks in premarket trading got a boost from the House late Friday passing an over $1 trillion infrastructure bill, sending the legislation to President Joe Biden for his signature. House Democrats entered Friday planning to pass both the infrastructure legislation and the party’s $1.75 trillion social safety net and climate package. A demand from a handful of centrists to see a Congressional Budget Office estimate of the bigger bill’s budgetary effects delayed its approval.

2. Ether hits a record as bitcoin inches toward its all-time high

In 2021, bitcoin and ether have seen huge rallies. In April 2021, the cryptocurrency market topped $2 trillion in value for the first time.

Jaap Arriens | NurPhoto | Getty Images

Ether, the world’s second-largest digital coin, surged more than 4% in 24 hours Monday to hit a new all-time high above $4,700. Bitcoin, the biggest crypto, climbed 5% to $66,250, inching back toward its record high above $66,900, set in late October. The reason for the move wasn’t clear. Cryptocurrencies are known for their volatile price swings, with moves of up to 20% higher or lower relatively common. Ethereum, the blockchain that ether runs on, is undergoing a major upgrade, which investors hope will make the network faster and more environmentally friendly.

3. Tesla slides 5% after Musk proposes sale of 10% of his stock

Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory during a press event.

Patrick Pleul | picture alliance | Getty Images

Shares of Tesla — more than 70% higher year to date and nearly 180% in the past 12 months — sank 5% in Monday’s premarket. Tesla’s stock market value would still be worth well over $1 trillion if the stock were to open around where it is in the premarket. In a Twitter poll Saturday, Tesla CEO Elon Musk proposed selling 10% of his stock in the electric auto maker.

More than 3.5 million people responded and nearly 58% of them voted for “Yes.” Musk said he would “abide by the results of this poll, whichever way it goes.” However, facing a $15 billion tax bill in the coming months on stock options, a Musk sale of Tesla stock this year was probably likely regardless of the Twitter vote.

4. Regeneron’s Covid antibody therapy shows long-term protection

Regeneron Pharmaceuticals said Monday a single dose of its antibody cocktail in a late-stage trial reduced the risk of contracting Covid by 81.6%, in the two-to eight-month period after the administration. During the eight-month assessment period, there were zero Covid hospitalizations in the drug group and six in the placebo group. Shares of Regeneron rose about 2% in premarket trading.

5. Appeals court freezes Biden mandate; U.S. lifts travel restrictions

Surgeon General Vivek Murthy told ABC’s “This Week” on Sunday the Biden administration is ready to defend its “appropriate and necessary” Covid vaccine and testing requirement for private businesses. A federal appeals court Saturday temporarily blocked the upcoming mandate. The White House has until Monday evening to respond.

The U.S. lifted restrictions Monday on travel from a long list of countries including Mexico, Canada and most of Europe. Travelers must show proof of vaccination and a negative Covid test. The rules allow tourists to make long-delayed trips and family members to reconnect with loved ones after more than a year and a half apart due to the pandemic.

— The Associated Press and Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

ShareTweetPin

Related Posts

Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning

by
January 26, 2023
0

In this article MC-FR Follow your favorite stocksCREATE FREE ACCOUNT Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis...

FDA advisors recommend replacing original Covid vaccine with bivalent omicron shots for all doses

by
January 26, 2023
0

The new COVID-19 booster which includes protection for Omicron at AltaMed Health Services in South Gate on Thursday, October 6,...

Intel shares drop on weak quarterly results and expectations for another quarter of losses

by
January 26, 2023
0

In this article INTC Follow your favorite stocksCREATE FREE ACCOUNT Intel CEO Pat Gelsinger stands in front of a cathedral...

Bed Bath & Beyond warns it can’t pay down debts, defaults on credit line

by
January 26, 2023
0

In this article BBBY Follow your favorite stocksCREATE FREE ACCOUNT Signage is seen through an overturned shopping cart outside a...

Hasbro warns of weak holiday quarter results, cuts 15% of its workforce

by
January 26, 2023
0

In this article HAS Follow your favorite stocksCREATE FREE ACCOUNT Game maker Hasbro Justin Sullivan | Getty Images Shares of...

Next Post

Seven High Frequency Indicators for the Economy

Dow jumps more than 100 points after Congress passes infrastructure spending package

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com