5 things to know before the stock market opens on Monday

5 things to know before the stock market opens on Monday

Trader on the floor of the NYSE, October 28, 2022.

Source: NYSE

Here are the most important information investors need to start their trading day:

1. Green October

US equity markets are poised to wrap up a stellar month at the end of October. The Dow, indeed, could well have its best month since 1976, while the Nasdaq and the S&P 500 should also end in the green. Investors are preparing to analyze the latest wave of earnings this week as well as the latest messages from the Federal Reserve. The Fed meeting begins on Tuesday, and the central bank is expected to hike rates another three-quarters of a point in its latest attempt to quell inflation, which has been high for decades. Market watchers will be looking for signs from Chairman Jerome Powell that the Fed may begin to ease off the pedal a bit in the coming months. Read live market updates here.

Learn more about CNBC PRO: How to trade the back half of earnings season

2. Scary times for tech

It’s Halloween, so it’s a good time to dwell on the spooky things in life, like haunted houses, John Carpenter horror movies, and the recent performance of Big Tech stocks. US stock indexes surged despite lackluster performance by tech companies. Amazon, Microsoftparent google Alphabet and parent Facebook Meta – especially Meta – have all had a tough time in the past week as their earnings and forecasts are generally weak. Only Apple all went well – on Friday the stock had its best day since 2020. market are creating bloody times in Silicon Valley.

3. Welcome to Elon Musk’s Twitter

In this photo illustration an image of Elon Musk is displayed on a computer screen and the twitter logo on a mobile phone in Ankara, Turkiye on October 06, 2022.

Muhammed Selim Korkutata | Anadolu Agency | Getty Images

Days after closing its $44 billion deal to buy Twitter, Elon Musk tweeted an unsubstantiated anti-LGBTQ conspiracy theory, from a website known to publish false information, about the attack on House Speaker Nancy Pelosi’s husband, Paul. Musk, who has more than 112 million Twitter followers, linked to the site in a Sunday morning response to former Secretary of State Hillary Clinton, who criticized the GOP for spreading conspiracy theories, like the ones Pelosi’s attacker did online. The billionaire CEO of Tesla and SpaceX finally took down his tweet on Sunday afternoon, but not before he had more than 24,000 retweets and 86,000 likes, according to NBC News. Musk’s critics, fearing content moderation will suffer on Twitter after his takeover, pointed to the incident as an indication that their worst fears were coming true.

Read more: GM suspends paid ads on Twitter after Musk takeover

4. Kyiv under attack

Workers walk as they repair equipment near power lines destroyed after a missile strike on a power plant, at an undisclosed location in Ukraine on October 27, 2022, amid the Russian invasion of Ukraine Ukraine.

Sergei Supinsky | AFP | Getty Images

Russian missiles hit the Ukrainian capital, Kyiv, on Monday morning as the Kremlin sought to further cripple Ukraine’s public service infrastructure. “There is no water supply in some areas,” Kyiv Mayor Vitali Klitschko said. Russian forces have also targeted facilities in other parts of Ukraine as they seek to disrupt daily life across the country. “The Russians have targeted energy infrastructure facilities in Dnipro and Pavlohrad. Serious destruction is recorded. All services are working on the spot,” said a regional Ukrainian military official. Read live war updates here.

5. No reprieve in the eurozone

The headquarters of the European Central Bank (ECB) is pictured ahead of the bank’s Governing Council press conference following their meeting in Frankfurt am Main, western Germany, on 8 September 2022. The recent 75 basis point rate hike by the European Central Bank won’t be the only short-term hike, but the next ones won’t be that high, said ECB member Edward Scicluna.

Daniel Roland | AFP | Getty Images

There is no escape from inflation in the euro zone. The European statistics office on Monday released preliminary figures that showed inflation rose at an annual rate of 10.7% in October, which would be a record for the 19-member bloc. Russia’s war in Ukraine is the main catalyst for the rapid and aggressive price growth: energy prices jumped 41.9% year-on-year, while prices for food, alcohol and tobacco increased by 13.1% on an annual basis. Inflation is high everywhere, but it is particularly severe in Estonia, Latvia and Lithuania, which all recorded price growth of more than 20% compared to the same period a year earlier. The reading will put even more pressure on the European Central Bank, which raised rates by three-quarters of a point last week – and has promised further increases.

– CNBC’s Jesse Pound, Jordan Novet, Holly Ellyatt and Silvia Amaro contributed to this report.

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