Here are the most important news, trends and analyses that investors need to start a trading day:
New York Stock Exchange Traders
US Stock Futures Decreased in early trading On Wednesday, tech stocks will once again take the lead.
The Dow Jones Industrial Average futures fell 120 points, while S & P 500 futures fell 0.4%. Technology-intensive Nasdaq 100 futures fell 0.7%.
Big Tech stocks such as Alphabet, Microsoft, Netflix, Facebook and Apple all traded in the red, but chip makers Nvidia and AMD also had low stock prices in front of the market.
Technology sector succeeded A big reversal during the day In the session before the Nasdaq Composite ended the day flat, erasing losses of over 2%. However, the Dow Jones Industrial Average lost more than 450 points, marking the worst day since February.
Widely noticed April consumer inflation data It will be released on Wednesday at 8:30 am EST. This number could show the largest year-over-year increase in almost 10 years.
According to Dow Jones, the expected CPI inflation increase of 3.6% in April will be the largest since September 2011. CPI is expected to rise 0.2% month-on-month. This is compared to a 0.6% increase in March, a 2.6% year-on-year increase.
On a core basis, excluding food and energy, the CPI is expected to increase by 0.3% or 2.3% year-on-year.
On May 11, 2021, after Eric Howard guided traffic after the country’s largest fuel pipeline operated by the Colonial Pipeline in Norfolk, Virginia, was dysfunctional by a cyberattack, a series of vehicles turned into Costco gas pumps. Proceed towards.
Jai Paul | Reuters
Gasoline prices may continue to rise If the colonial pipeline does not reopen by the weekend and there is the potential for a wider local fuel shortage across the Southeast and Mid-Atlantic regions.
The colonial pipeline, which shut down on Friday following a ransomware attack, said it plans to restore a significant amount of operations by the weekend. However, it is still unclear how much operation will be performed. US Secretary of Energy Jennifer Granholm said federal agencies are working 24 hours a day to help the pipeline return to normal operation.
Attack carried out by Crime cybercrime group known as Dark Side, The 5,500 mile pipeline has been closed. The arteries supply half of the gasoline to the east coast and run from Texas to New Jersey.
In some states, gas stations that didn’t get enough fuel have already closed, and in some areas prices have risen by more than 10 cents per gallon.
The Amazon logo displayed on your smartphone.
Igor Golovnioff | SOPA Images | LightRocket | Getty Images
Amazon won the appeal against On Wednesday, the European Commission ordered a US tech giant to repay a tax of € 250 million ($ 303 million) on Luxembourg.
The EU’s general court said the Commission, the EU’s administrative body, could not prove that it had been given illegal tax incentives. Amazon By Luxembourg — Where a US company has a European subsidiary.
A Brussels-based agency said that in 2017 Luxembourg gave Amazon excessive tax incentives. The Commission said at the time that Amazon was allowed to pay a quarter of the taxes of other local businesses subject to the same national rules.
Tesla’s charging station in the hotel parking lot.
Zhang Peng | LightRocket | Getty Images
According to the association, Tesla’s sales decline occurred in April’s overall 12% month-on-month decline in China’s new energy passenger cars. This category includes pure electric vehicles and hybrid vehicles.
Tesla shares fell about 1% in pre-market trading on Wednesday.
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5 Things You Should Know Before The Stock Market Opens Wednesday, May 12th
Source link 5 Things You Should Know Before The Stock Market Opens Wednesday, May 12th