Traders work on the floor of the New York Stock Exchange (NYSE) on May 12, 2022 in New York City. The Dow Jones Industrial Average fell in morning trade as investors continued to worry about inflation and other global issues.
Spencer Platt | beautiful pictures
Here are the most important news items traders need to start their trading day:
1. Market alert
US equity futures are slightly higher before the fourth bell, as investors review new inflation data expected to be released later in the morning. The three major indexes fell on Tuesday as the market began to digest the first reports from earnings season. Several major Wall Street banks are expected to release results this week, including Morgan Stanley and JP Morgan.
2. Important Inflation Report
A woman shops for t-shirts in Rosemead, California on June 28, 2022.
Frederic J. Brown | Afp | beautiful pictures
The latest consumer price index report is due at 8:30 a.m. ET on Wednesday. According to Dow Jones, observers expect another compelling result, this time an 8.8% increase year-over-year. Inflation has spiked at a rate not seen in four decades, and it has weighed on consumer sentiment even though Americans continue to spend at a premium. Investors are eager for signs that inflation may be peakingas the Federal Reserve considers whether to raise interest rates by 50 or 75 basis points at its next meeting.
3. Alphabet slows down recruitment
A woman transfers a logo from web search engine provider Google during the digital social festival ‘re:publica’, at Arena Berlin in Berlin, Germany June 9, 2022.
Annegret Hilse | Reuters
Google’s Parents Alphabet is the newest company start to slow down recruitment in Silicon Valley. In a memo to employees, CEO Sundar Pichai said the tech giant needs to “be more entrepreneurial in working with more urgency, focus and hunger than we have shown in recent years.” sunny day.” While the job market is still going strong, there are already warning signs about the tech world. The industry is facing a drop in share prices after helping to lead growth in the stock market for several years. Former Facebook parent Meta said in May that it would slow down its hiring while Amazon executives have described the e-commerce leader’s warehouses as “redundant”.
4. Twitter v Musk
A Twitter logo and trading information are displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2022.
Brendan Mcdermid | Reuters
Twitter follow its threat sue Elon Musk for backing his $44 billion deal to buy the social media company. Twitter filed a lawsuit Tuesday in Delaware, seeking to force Tesla and SpaceX CEO to execute the deal. The company, accusing Musk of acting “lack of faith,” is seeking a four-day trial in September, but these proceedings could be just the start of a costly legal battle and lengthen. Read more: 8 ways that Elon Musk’s Twitter story could end
5. Delta kicks off airline earnings
Delta Airlines passenger jets are pictured outside the newly completed $4 billion Delta Airlines Terminal C at LaGuardia Airport in New York, June 1, 2022.
Mike Segar | Reuters
Delta Airlines Wednesday provided a first taste of how carriers are performing as fares rise and cancellations skyrocket amid overwhelming travel demand and staffing shortages. Delta posted revenue beat Wall Street expectations, and it said it expected both revenue and expenses to increase in the third quarter. Competitor United Airlines and American Airlines is expected to report quarterly results next week.
– Yun Li, Patti Domm, Jennifer Elias, Kif Leswing, Lauren Feiner and Leslie Josephs of CNBC contributed to this report.
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