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5 things to know before the stock market opens Monday, Nov. 1

Listed below are crucial information, traits and evaluation that buyers want to begin their buying and selling day:

1. Dow futures advance, starting November the place October left off

Picture by Spencer Platt/Getty Photographs

The Dow was set to start November higher, as futures confirmed a 150-point advance, after October on Wall Road ended Friday, with file closes for the 30-stock common, the S&P 500 and the Nasdaq. In reality, shares in October, an infamously difficult month, finished higher. The Dow, S&P 500 and Nasdaq all logged weekly beneficial properties for 4 straight weeks. For the month, the Dow was up 5.8%; the S&P 500 was up practically 7%; and the Nasdaq was up virtually 7.3%. On Monday, the 10-year Treasury yield was round 1.58%; U.S. oil costs have been at $84 per barrel; and bitcoin was again above $62,000.

2. Bullish tone on Wall Road may very well be examined this week

Whereas the November-December stretch has traditionally been constructive for shares, this yr’s bullish tone could be tested because the Federal Reserve begins its two-day November assembly Tuesday.

  • Central bankers are anticipated to announce the start of a tapering of Covid-era bond purchases.
  • The week forward additionally options of a slew of company earnings, together with outcomes from Covid vaccine makers Pfizer and Moderna.
  • Alongside the best way, the Home was anticipated to vote, as early as Tuesday, on the Senate-passed infrastructure invoice and the Democrats’ go-it-alone social and local weather spending bundle.
  • Friday brings the federal government’s October employment report.

3. Biden to tout surroundings efforts at UN local weather change summit

US President Joe Biden addresses the media with President of the European Fee through the G20 of World Leaders Summit on October 31, 2021 on the conference middle “La Nuvola” within the EUR district of Rome.

Brendan Smialowski | AFP | Getty Photographs

President Joe Biden was swinging the main target of his battle for motion towards world warming from Congress to the world stage Monday, interesting to world leaders at a U.N. climate summit to decide to the type of massive measures he is nonetheless working to nail down at dwelling. The summit in Glasgow, Scotland, has usually been billed as important to placing the landmark 2015 Paris local weather accord into motion. The G-20 summit in Rome, which Biden attended, ended Sunday, with settlement to formalize a pledge to chop off worldwide subsidies for coal-fired energy vegetation.

4. Barclays CEO Jes Staley quits after Jeffrey Epstein probe

Jes Staley

Chris Goodney | Bloomberg | Getty Photographs

Barclays CEO Jes Staley has agreed to step down after a U.Okay. watchdog investigation into his enterprise dealings with the late financier Jeffrey Epstein. Present head of worldwide markets, C.S. Venkatakrishnan, is taking on as CEO, efficient instantly, topic to regulatory approval. Barclays stated the probe didn’t discover that Staley “noticed, or was conscious of,” any of Epstein’s alleged crimes. Staley handled Epstein throughout his lengthy profession at JPMorgan, the place Epstein was a serious non-public banking consumer till 2013. Staley told reporters last February he had not seen Epstein since taking on Barclays in 2015.

5. American Airways cancels practically 2,000 flights since Friday

Pilots discuss as they have a look at the tail of an American Airways plane at Dallas-Ft Price Worldwide Airport.

Mike Stone | Reuters

American Airlines scrapped some 250 flights, or about 9%, of its Monday schedule, in keeping with flight-tracking web site FlightAware, on high of more than 1,700 cancellations since Friday. The provider blamed staffing issues and excessive winds at its busiest hub, Dallas/Fort Price Worldwide Airport, final week. It is the newest mass flight disruption to face vacationers as some carriers wrestle to deal with a rebound in journey demand. Southwest Airlines earlier this month stated {that a} meltdown in October, during which it canceled greater than 2,000 flights, price it $75 million.

— The Related Press and Reuters. Comply with all of the market motion like a professional on CNBC Pro. Get the newest on the pandemic with CNBC’s coronavirus coverage.

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