5 things to know before the stock market opens on Thursday, May 20 – fr

0
28
5 things to know before the stock market opens on Thursday, May 20 – fr



Here are the most important news, trends and analysis that investors need to start their trading day:

1. US stocks should fall for a fourth consecutive session

Traders work on the floor of the New York Stock Exchange.
NYSE

2. Yields on 10-year treasury bills fall before jobless claims

The Marriner S. Eccles Federal Reserve Building is located in Washington, DC, United States on Tuesday, August 18, 2020.
Erin Scott | Bloomberg via Getty Images
The 10-year Treasury yield early on Thursday retreated from its yesterday’s pop to 1.678% as minutes from the Federal Reserve’s April meeting suggested central bankers may reduce the pace of extraordinary asset purchases of the Covid era if the economy continues to recover rapidly. Investors will look to the government’s 8:30 a.m. ET report on weekly jobless claims to see if the job market is improving further. Economists expect initial unemployment benefit claims to total 452,000 last week from 473,000 the week before.

3. Bitcoin briefly surpasses $ 40,000 after Wednesday’s drop

A representation of the Bitcoin virtual currency is seen in front of a stock chart in this illustration taken on May 19, 2021.

In view of Ruvic | Reuters

Bitcoin on Thursday swung just above and below $ 40,000 after the past day’s mad rush that saw the world’s largest cryptocurrency pool 30% on Wednesday at three-month lows near $ 30,000. This was a drop of more than 50% from last month’s all-time high of nearly $ 65,000. At Wednesday’s low, the digital coin essentially broke even for 2021. However, it was still up over 200% in the past 12 months. During Wednesday afternoon trading, bitcoin rebounded before retreating later in the day and overnight.

4. Virgin Galactic jumps after next Saturday space flight test

Virgin Galactic’s Unity spacecraft fires up its rocket engine and heads into space on February 22, 2019.

Galactic Virgo

Virgin Galactic shares jumped 20% on Thursday’s pre-market after the space tourism company said it was targeting for its next space flight test on Saturday. The company made the announcement following the completion of a maintenance review of its carrier aircraft that threatened delays. Virgin Galactic aims to begin commercial service in 2022. Prior to the surge in pre-market, inventory was down 27% this year and 65% in the past three months. It hit a milestone last week after Cathie Wood’s Ark Invest revealed that her company’s space exploration ETF had sold almost all of its stake in Virgin Galactic.

5. Star-studded Oatly Should Start Trading on Wall Street

A carton of Oatly brand oat milk is arranged for photograph in the borough of Brooklyn in New York, United States, Tuesday, September 15, 2020. Photographer: Gabby Jones / Bloomberg via Getty Images

Bloomberg | Bloomberg | Getty Images

Oatly is expected to debut on the Nasdaq on Thursday after valuing its initial public offering at $ 17 per share, the high end of the expected range. The Swedish oat milk producer has raised $ 1.4 billion, valuing the company at $ 10 billion. Last year, Oatly raised $ 200 million in a fundraising round led by private equity firm Blackstone, and included Oprah Winfrey, Natalie Portman, an entertainment company founded by rapper Jay Z and the former Starbucks boss Howard Schultz.

– Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest pandemic news with CNBC Coronavirus Coverage.

LEAVE A REPLY

Please enter your comment!
Please enter your name here