{"id":13827,"date":"2022-05-13T13:31:42","date_gmt":"2022-05-13T13:31:42","guid":{"rendered":"https:\/\/harchi90.com\/5-things-to-know-before-the-stock-market-opens-friday-may-13\/"},"modified":"2022-05-13T13:31:42","modified_gmt":"2022-05-13T13:31:42","slug":"5-things-to-know-before-the-stock-market-opens-friday-may-13","status":"publish","type":"post","link":"https:\/\/harchi90.com\/5-things-to-know-before-the-stock-market-opens-friday-may-13\/","title":{"rendered":"5 things to know before the stock market opens Friday, May 13"},"content":{"rendered":"<div id=\"SpecialReportArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"SpecialReportArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"group\">\n<p><em>Here are the most important news, trends and analysis that investors need to start their trading day:<\/em><\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">1. Dow futures pop after the 30-stock average&#8217;s six-session losing streak<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107055194\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, May 3, 2022.<\/p>\n<p>Brendan Mcdermid |  Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>US stock futures bounced Friday, with the S&#038;P 500 trying not to join the Nasdaq in a bear market, which is defined by a drop of 20% or more from a prior high.<\/p>\n<ul>\n<li>Nasdaq futures led the way higher despite an 12% premarket drop in Twitter shares.  The stock dropped as much as 25% after Elon Musk tweeted Friday his deal to buy the social network is &#8220;temporarily on hold.&#8221;  Twitter shares were paring those losses when Musk later tweeted he&#8217;s &#8220;still committed&#8221; to the deal.<\/li>\n<li>The Dow Jones Industrial Average on Thursday dropped for the sixth straight session, sinking further into a correction, define by a drop of 10% or more from a prior high.  The S&#038;P 500 fell slightly.  The Nasdaq managed a slight gain.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">2. Bond yields rose after Powell says he can&#8217;t guarantee a soft landing<\/h2>\n<div class=\"group\">\n<p>The 10-year Treasury yield on Friday ticked higher but remained under 3%, a key level that was breached on May 2 for the first time since late 2018.<\/p>\n<ul>\n<li>Bonds yields have been rapidly rising on the belief that the Federal Reserve will have to act more aggressively on hiking interest rates to fight inflation.  There&#8217;s concern that inflation will remain high even as the economy slows down.<\/li>\n<li>Fed Chairman Jerome Powell said in an interview posted Thursday on Marketplace that he can&#8217;t promise a so-called soft landing for the economy.  He warned that getting inflation under control could cause some economic pain but remains his top priority than him.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">3. Two tweets from Elon Musk about his Twitter deal hit the stock<\/h2>\n<div class=\"group\">\n<p>With two tweets Friday morning, Musk sent Twitter shares on a wild ride.  After saying he paused his Twitter offer seeking more information about how many fake accounts there are on the social media platform, he later said he was &#8220;still committed to the acquisition.&#8221;  The first tweet came at 5:44 am ET.  The second tweet was posted about two hours later.<\/p>\n<p><span\/><\/p>\n<p>The Tesla CEO Musk announced last month that he intends to buy Twitter for $ 44 billion and he&#8217;s previously tweeted that one of his main priorities would be to remove &#8220;spam bots&#8221; from the platform.  Tesla shares, which recently fell on worries about Musk&#8217;s Twitter deal being a distraction, rallied more than 5% Friday on the first tweet and held those gains after the second.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">4. Some stablecoins get their footing, helping to send the crypto market higher<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106905363\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Tether has long faced questions over whether it has enough assets to justify its peg to the dollar.<\/p>\n<p>Tiffany Hagler |  Bloomberg via Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Tether, the world&#8217;s largest stablecoin, regained its peg to the dollar after more than $ 3 billion worth of tokens left the system in a single day.  The cryptocurrency &#8211; which is meant to always be worth $ 1 &#8211; sunk as low as 95 cents on Thursday.  A controversial stablecoin known as TerraUSD or UST, which is supposed to be pegged 1-to-1 with the dollar, has collapsed in recent days, trading around 8 cents Friday.  Luna, a token closely associated with UST, is now worth $ 0 as a result.<\/p>\n<ul>\n<li>The stablecoin saga has added a layer of uncertainty that&#8217;s contributed to sharp declines across the entire crypto market.  Bitcoin on Friday was back above $ 30,000, rebounding from levels not seen since late 2020. At current levels, bitcoin, the world&#8217;s largest cryptocurrency, was down more than 50% from its all-time high of over $ 68,000 in November.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">5. CEO of a major crypto exchange takes a big stake in Robinhood<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107060400\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models, in Longworth Building on Thursday, May 12, 2022.<\/p>\n<p>Tom Williams |  CQ-Roll Call, Inc. |  Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<ul>\n<li>Shares of Robinhood, a popular stock and crypto trading platform, jumped more than 23% in Friday&#8217;s premarket.  In regular trading Thursday the stock hit an all-time low.  Robinhood ended the session priced at $ 8.56, about 77% away from its IPO price last July.<\/li>\n<li>The document said Bankman-Fried does not plan to take &#8220;any action toward changing or influencing the control&#8221; of the company.  The filing also said he may &#8220;from time to time engage in discussions&#8221; with management.<\/li>\n<\/ul>\n<p><em>&#8211; CNBC&#8217;s <\/em><em>Jesse Pound<\/em><em>, <\/em><em>Vicky McKeever<\/em><em>, <\/em><em>Jeff Cox<\/em><em>, <\/em><em>Sam Shead<\/em><em>  and <\/em><em>Tanaya Macheel<\/em><em>  contributed to this report.<\/em><\/p>\n<p>&#8211; <em>Sign up now<\/em><em> for the CNBC Investing Club to follow Jim Cramer&#8217;s every stock move.  Follow the broader market action like a pro on <\/em><em>CNBC Pro<\/em><em>.<\/em><\/p>\n<\/div>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures pop after the 30-stock average&#8217;s six-session losing streak The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/5-things-to-know-before-the-stock-market-opens-friday-may-13\/\"> <span class=\"screen-reader-text\">5 things to know before the stock market opens Friday, May 13<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":13828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[116,118,1312,114,514,89,457,519,246,518,112,1313,113,5736,520,130,1150,1149,521],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/image.cnbcfm.com\/api\/v1\/image\/107055194-16515920902022-05-03t151938z_1401851875_rc2qzt9paerk_rtrmadp_0_usa-stocks.jpeg?ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107055194-16515920902022-05-03t151938z_1401851875_rc2qzt9paerk_rtrmadp_0_usa-stocks.jpeg?v=1651592140&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/13827"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=13827"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/13827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media\/13828"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=13827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=13827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=13827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}