{"id":38823,"date":"2022-06-06T13:10:45","date_gmt":"2022-06-06T13:10:45","guid":{"rendered":"https:\/\/harchi90.com\/5-things-to-know-before-the-stock-market-opens-monday-june-6\/"},"modified":"2022-06-06T13:10:45","modified_gmt":"2022-06-06T13:10:45","slug":"5-things-to-know-before-the-stock-market-opens-monday-june-6","status":"publish","type":"post","link":"https:\/\/harchi90.com\/5-things-to-know-before-the-stock-market-opens-monday-june-6\/","title":{"rendered":"5 things to know before the stock market opens Monday, June 6"},"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. Stocks set to bounce after Wall Street&#8217;s losing week<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107070900\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 3, 2022.<\/p>\n<p>Brendan McDermid |  Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Wall Street was set to take premarket increases into Monday&#8217;s open after a rough session Friday, led lower by the Nasdaq&#8217;s nearly 2.5% decline.  The Nasdaq and the S&#038;P 500 logged their eighth down week in the past nine but held the bulk of the prior week&#8217;s respective 6.8% and 6.6% gains.  The Dow Jones Industrial Average dropped for its ninth week out of the last 10 but also kept more of the prior week&#8217;s more than 6.2% advance.<\/p>\n<ul>\n<li>Tech stocks, including Apple, rose in the premarket.  Apple is set to hold its annual developers&#8217; conference Monday.  Shares of Amazon rose 1.5% to $ 124 each in the premarket, as the company&#8217;s 20-for-1 stock split goes into effect at Monday&#8217;s open.  Crypto prices, which have recently traded in tandem with tech, bounced Monday, with bitcoin above $ 31,000.<\/li>\n<li>At the end of this trading week, investors and the Federal Reserve get a look at the latest consumer price index.  Economists see inflation at the retail level in May rising a robust 8.2% year over year but again ticking lower for the second straight month.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">2. Average gas prices in the US creep toward $ 5 per gallon<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107067893\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Gas prices over the $ 6.00 mark are advertised at a 76 Station in Santa Monica, California, May 26, 2022.<\/p>\n<p>Lucy Nicholson |  Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Whether the US has seen peak inflation or not, the surge in gas prices is showing no signs of abating.  The national average at the pump reached nearly $ 4.87 per gallon as of Monday, according to AAA.  California continued as the highest of any state, with gas costing an average of $ 6.34 per gallon there.<\/p>\n<p>The reasons for the dizzying increases: more demand ahead of the summer driving season and a continued to rise in oil prices.  In fact, West Texas Intermediate and Brent crude traded to around $ 120 per barrel as traders doubted whether a 50% increase in OPEC + &#8216;s monthly output target would help ease tight supply.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">3. Chinese ride giant Didi surges after report about ending probes<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106906925\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Budrul Chukrut |  LightRocket |  Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Shares of Chinese ride-hailing giant Didi surged more than 50% in premarket trading in the US on Monday after The Wall Street Journal reported that regulators in China are concluding yearlong investigations into the company.  According to the Journal, Chinese authorities plan as early as next week to lift a ban on Didi adding new users and to reinstate the company&#8217;s app in domestic app stores.<\/p>\n<ul>\n<li>Even with Monday&#8217;s premarket gain, Didi shares have fallen about 80% since their June 2021 IPO price of $ 14 each.  Didi said in December it will delist from the New York Stock Exchange and seek a listing in Hong Kong instead.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">4. Tesla CEO Elon Musk seems to send mixed message on staffing<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107043909\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Tesla and SpaceX CEO Elon Musk at Tesla&#8217;s &#8220;Gigafactory&#8221; on March 22, 2022 in Gruenheide, southeast of Berlin.<\/p>\n<p>Patrick Pleul |  AFP |  Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Tesla CEO Elon Musk said Saturday the electric vehicle maker&#8217;s total head count will increase over the next 12 months, but the number of salaried staff should be little changed.  Those comments seemed to backtrack from last week&#8217;s email to employees that said job cuts of 10% were needed.  In a separate email to executives, Musk said he has a &#8220;super bad feeling&#8221; about the economy.  Tesla shares jumped 3% in Monday&#8217;s premarket after dropping 9% on Friday.<\/p>\n<ul>\n<li>When asked about Musk&#8217;s remarks, President Joe Biden said Friday that while the Tesla CEO talked about economic fears and reductions, Ford increased its investment in building new EVs, with an additional 6,000 union employees in the Midwest.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">5. JetBlue increases its bid to buy low-cost Spirit Airlines<\/h2>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107061533\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York.<\/p>\n<p>Leslie Josephs |  CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Spirit Airlines jumped 6% in the premarket after JetBlue on Monday sweetened its bid for the ultra low-cost carrier.  JetBlue said in a filing that it would increase its breakup fee for the deal to $ 350 million and pay part of that as a $ 1.50-per-share dividend if the deal were to be consummated.  In all, that increases the value of JetBlue&#8217;s offer to $ 31.50 per Spirit share.<\/p>\n<ul>\n<li>JetBlue, whose shares were unchanged, previously offered $ 30 per share and a $ 3 kicker if Spirit entered into negotiations.  Spirit rejected that, favoring a lower bid from Frontier Airlines, on the thought that regulators would not approve a JetBlue combination.<\/li>\n<li>Last week, the parent of Frontier agreed to pay a breakup fee of $ 250 million on its deal.  Frontier shares dropped 1.6% in Monday&#8217;s premarket.  Spirit was set to vote on the Frontier offer on Friday.<\/li>\n<\/ul>\n<p><em>&#8211; CNBC&#8217;s <\/em><em>Patti Domm<\/em><em>, <\/em><em>Arjun Kharpal<\/em><em>  and <\/em><em>Lora Kolodny<\/em><em>  as well as Reuters 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. Stocks set to bounce after Wall Street&#8217;s losing week Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 3, 2022. Brendan McDermid | Reuters Wall Street was set to &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/5-things-to-know-before-the-stock-market-opens-monday-june-6\/\"> <span class=\"screen-reader-text\">5 things to know before the stock market opens Monday, June 6<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"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":[1748,133,1586,116,118,1199,1312,114,514,89,1326,1975,457,15556,519,246,1976,645,112,1313,113,520,2436,130,1150,11705],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107070900-1654271293302-floor.jpg?v=1654271315&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/38823"}],"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=38823"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/38823\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=38823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=38823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=38823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}