Here are the top news, trends and analysis that investors need to start their trading day:
1. Wall Street looks lower after two consecutive sessions of gains
Traders on the floor of the New York Stock Exchange, April 4, 2022.
Source: NYSE
US stock futures It fell on Tuesday after consecutive gains on Wall Street. The Nasdaq I advanced about 2% to start the week as Twitter27% increase over Elon MuskIn the Social Network’s new stake sparked a surge in technology stocks. Twitter added another 5% in the first market on Tuesday on the news Musk will join Twitter’s board of directors. I entered the stock market a Strong seasonal periodApril is usually one of the best months for stocks. In fact, according to data from MKM Partners, the S&P 500 has averaged a 2.4% increase in April over the past 20 years. The index has also posted gains in April in 16 of the past 17 years.
Treasury yields rose Tuesday morning and the main yield spreads – 2/10 years and 5/30 – remained reversed. It is a bond market phenomenon that often preceded recessions. Traders were selling bonds at the shorter end of the yield curve on fears that the Federal Reserve would become more aggressive in the interest rate tightening cycle. Bond prices move in the opposite direction to yields.
Oil prices in the United States Tuesday’s gain day Display Concerns As the United States and its European allies consider imposing new sanctions on Moscow over allegations of war crimes Russian forces in Ukraine. West Texas Intermediate crude added 1%, rising to more than $104 a barrel after Monday’s 4% increase broke the decline in two sessions.
2. Elon Musk to join the Twitter board, tweets on the edit button and poll
Tesla Motors founder and CEO Elon Musk speaks during a media tour of the Tesla Gigafactory, which will produce batteries for the electric car industry, in Sparks, Nevada.
James Glover II | Reuters
Musk will join Twitter’s board of directors after acquiring a 9.2% stake in the social media company.
Hours after the stake was revealed, Musk tweeted a poll Monday night, asking users if they wanted an edit button. more than 73% Of the nearly 2.6 million respondents who clicked on “yse,” which Musk apparently misspelled to make his point that the ability to edit posts should be added to Twitter.
Twitter CEO Paraj Agrawal retweeted Musk and urged people to “vote carefully” because the consequences “will be significant”. The Tesla The CEO’s investment, which made him the largest shareholder in Twitter, comes after he said he was considering building a new social media platform.
3. Amazon signs missile deal with three companies to launch internet satellites
Technical drawings of corporate missiles, left to right: New Glenn, Vulcan Centaur, Ariane 6.
Blue Origin / United Launch Alliance / Arianespace
Amazon Tuesday Announcing a major commercial missile dealIt has signed with three companies for up to 83 launches of its Project Kuiper Internet satellites. One of the companies is the founder of Amazon Jeff BezosBlue Origin. Project Kuiper is Amazon’s plan to build a network of 3,236 satellites in low Earth orbit, to provide high-speed internet to anywhere in the world. The Federal Communications Commission (FCC) in 2020 authorized Amazon’s system, which the company said it would invest more than $10 billion to build.
4. EU proposes ban on imports of Russian coal, sources say
French President Emmanuel Macron has called on the European Union to ban Russian coal as part of a new wave of sanctions to further isolate the Kremlin.
Frank Rampenhorst | Photo Alliance | Getty Images
Two EU officials, who did not want to be identified due to the sensitivity of the talks, He told CNBC Tuesday The European Commission will propose to ban the import of coal from Russia. Imposing sanctions on the Russian energy sector has been a challenge for the European Union due to the high level of dependence on Moscow. Ukrainian President Volodymyr Zelensky It is set to the title Tuesday’s UN Security Council meeting where images of atrocities emerged as Russian forces withdrew from towns around Kyiv.
5. Shanghai extends lockdown. BA.2 variant 72% of US cases
in the last Corona virus disease Developments:
- The coronavirus outbreak continues in China’s largest city “too bleak” According to the director of the Shanghai Working Group on Epidemic Control. Most of eastern Shanghai, which was supposed to reopen last Friday, remained closed along with the western half of the city.
- The most infectious omicron BA.2 variant is now made 72% of COVID-19 cases that has been genetically sequenced in the United States, according to data from the Centers for Disease Control and Prevention. BA.2 became dominant in the US last week.
- Republicans and Democrats in the Senate come to an agreement On Monday, $10 billion in additional funding for Covid to buy treatments and vaccines and maintain the nation’s testing capacity if another wave of Covid hits the United States. The amount is less than half of the $22.5 billion the president provided Joe Biden I asked first.
CNBC correspondents Yun LeeAnd the Samantha SobinAnd the Peppa StevensAnd the Sam SheddAnd the Michael SheetzAnd the Vicki McIver And the Spencer Kimball The Associated Press and Reuters also contributed to this report.
– open an account now For the CNBC Investing Club to follow Jim Cramer’s every arrow move. Follow the actions of the wider market like a pro CNBC PRO.
