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5 issues to know earlier than the inventory market opens Thursday, July 1

5 things to know before the stock market opens Thursday, July 1

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

1. Stock futures steady after turning in a strong first half of 2021

The New York Stock Exchange welcomes executives and guests of Clear Secure, Inc. (NYSE: YOU), on June 30, 2021, in celebration of its Initial Public Offering.

NYSE

U.S. stock futures were steady Thursday on the first day of the third quarter on Wall Street. Investors hope the second half of 2021 remains as strong as the first half. The Dow Jones Industrial Average on Wednesday rose 210 points, moving within 0.8% of its latest record close in early May. Dow stock Walgreens Boots Alliance rose about 2% in the premarket after the drug store chain reported strong quarterly results and outlook. It also unveiled more details about its turnaround strategy. The S&P 500 on Wednesday ticked higher for its fifth-straight record close. The Nasdaq fell slightly from a record close in the prior session.

2. Wall Street’s June, second-quarter and year-to-date numbers

Wednesday was the last day of June, the second quarter, and the first half of the year.

  • Ahead of the new trading day, the S&P 500 was up 14.4% year to date. The Dow and Nasdaq were each up more than 12% so far in 2021. The S&P 500 and Nasdaq turned in gains for June. The Dow fell modestly. All three benchmarks were up solidly in the second quarter.
  • U.S. oil prices rose around 2.5% on Thursday to above $75 per barrel, the highest level since 2018. As of Wednesday’s settle, West Texas Intermediate crude was up strongly in June and in the second quarter. WTI has risen more than 51% for the year.
  • Bitcoin fell roughly 3% on Thursday but remained above $33,000. The world’s biggest cryptocurrency by market value, which saw an all-time high in April near $65,000 and recent lows below $29,000 last week, closed out the first half of the year down about 47% from its record.

3. Bond yields tick higher after new Covid-era low jobless claims

The 10-year Treasury yield, which began 2021 below 1% and spiked to 14-month highs above 1.77% in March, ticked higher Thursday to around 1.47%. Investors got another read on the U.S. labor market before the bell. After two straight weeks above 400,000, the government reported a lower-than-expected 364,000 new filings for unemployment benefits for last week, a new pandemic-era low. The government releases its June employment report Friday.

4. Krispy Kreme’s IPO prices below expected range, set to debut again

Krispy Kreme doughnuts go into production at the opening of the store at Harrods in London, Britain, October, 3, 2003.

David Bebber | Reuters

Krispy Kreme returns to the public markets Thursday, the morning after pricing 29.4 million initial public offering shares below the expected range at $17 per share. The IPO raised nearly $500 million, valuing the doughnut chain at $2.7 billion. Krispy Kreme, founded in 1937, was taken private by Keurig-owner JAB Holding in a $1.35 billion deal in 2016. It first went public in 2000. The company is set to begin trading Thursday on the Nasdaq under the ticker symbol “DNUT.”

In what was the biggest U.S. listing by a Chinese company since 2014, ride-hailing giant Didi started trading Wednesday morning and ended the day with a valuation of more than $68 billion. A slew of other firms, including Clear Secure and LegalZoom, popped in debuts Wednesday.

5. Trump Organization and its CFO indicted by Manhattan grand jury

Trump Organization chief financial officer Allen Weisselberg looks on as then-U.S. Republican presidential candidate Donald Trump speaks during a news conference at Trump Tower in Manhattan, New York, May 31, 2016.

Carlo Allegri | Reuters

The Trump Organization’s chief financial officer, Allen Weisselberg, surrendered to the Manhattan district attorney’s office on Thursday after a grand jury indicted him and former President Donald Trump’s company in a criminal case over its business dealings. The indictments against the firm and Weisselberg, handed up by a New York grand jury, are expected to be unsealed in court Thursday afternoon in Manhattan, a Trump representative told NBC News. NBC previously reported the charges center around allegations of Weisselberg and other Trump Organization executives receiving benefits without reporting them properly on their tax returns.

— NBC News and Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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5 issues to know earlier than the inventory market opens Thursday, June 24

5 things to know before the stock market opens Thursday, June 24

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

1. Dow will jump according to economic data ahead of the infrastructure meeting

The New York Stock Exchange welcomes Sprinklr (NYSE: CXM) to celebrate its IPO on June 23, 2021.

NYSE

Dow futures surged more than 150 points after a string of economic data before the bell and renewed hopes for an infrastructure deal at a meeting at the White House later Thursday. The market’s comeback rally paused on Wednesday despite the fact that the Nasdaq managed to hit another all-time high and was expected to rise on Thursday. With a broad group of stocks jumping in pre-trading hours, the S&P 500 should open at new highs as well. The Dow was still climbing out of last week’s hole. Ahead of Thursday’s session, it was 2.6% off its most recent record high in early May.

Andreessen Horowitz announced a new cryptocurrency-focused fund worth $ 2.2 billion on Thursday. The venture capital firm from Silicon Valley, founded by Marc Andreessen and Ben Horowitz, launched its first crypto fund three years ago in the so-called “crypto winter”. This year, Bitcoin’s value is up about 80% from its 2017 highs. The latest fund also comes at another bearish moment for Bitcoin.

2. Three major government economic reports before the bell

3. Bipartisan senators are pushing for a $ 953 billion infrastructure plan

Senator Joe Manchin (D-WV) speaks to news reporters before attending an infrastructure meeting on Capitol Hill in Washington on June 23, 2021.

Tom Brenner | Reuters

A bipartisan group of senators see Biden’s support for a $ 953 billion infrastructure plan at Thursday’s session. Government officials and democratic leaders viewed the proposal as a positive development. The President’s latest offer was a $ 1.7 trillion package. With Republicans opposed to Biden’s proposed corporate tax rate hike, the bipartisan group is looking for other ways to increase revenue. Biden rejected her idea of ​​allowing gas taxes paid at the pump to rise with inflation.

4. Eli Lilly is aiming for accelerated FDA approval for Alzheimer’s drug in 2021

An Eli Lilly and Company pharmaceutical manufacturing facility is pictured on March 5, 2021 at 50 ImClone Drive in Branchburg, New Jersey.

Facebook Facebook logo Sign up on Facebook to connect with Mike Segar Reuters

Eli Lilly’s shares rose 8% in the premarket on Thursday after the US drug maker announced it would file a market application for its experimental Alzheimer’s treatment under the FDA’s accelerated approval process later this year. Lilly said, “The safety, tolerability and effectiveness of donanemab are also being investigated in an ongoing late-stage study.” Earlier this month, three members of a key FDA advisory panel resigned over the agency’s controversial decision to approve Biogen’s new Alzheimer’s drug.

5. Team members vote on a major drive to unionize Amazon workers

The Teamsters will vote on a resolution on Thursday to step up efforts to organize Amazon employees. The e-commerce giant has long been the target of large unions trying to organize warehouse and delivery workers. Amazon defeated a senior union campaign in a huge warehouse in Bessemer, Alabama, in April. However, Amazon founder and CEO Jeff Bezos recently admitted that the company needs to get better from its people. The pandemic, the explosion of protests against Black Lives Matter last summer, and mounting concerns about job security have further fueled interest in the organization of Amazon warehouses.

– Reuters and The Associated Press contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Friday, June 25

5 things to know before the stock market opens Friday, June 11

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

1. Wall Street is heading for its best week in months

A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan neighborhood of New York on April 16, 2021.

Carlo Allegri | Reuters

US stock futures rose Friday, the day after the S&P 500 and Nasdaq closed at record highs, fueled by President Joe Biden’s signing of an infrastructure deal with a bipartisan group of senators. The Dow also rose Thursday, gaining 322 points, or nearly 1%, heading for its best weekly gain since March. The 30-share average is about 1.6% off its record high in early May after last week’s worst weekly decline since October. The S&P 500 and Nasdaq had their best weeks since April.

  • Dow stock Nike rose 13% in the premarket and is likely to open at an all-time high. The athletic shoe and apparel giant topped estimates for quarterly earnings and sales late Thursday. Nike saw a 73% increase in direct sales through its apps and websites. Nike’s stock pop is responsible for much of the surge in the Dow futures.
  • Virgin Galactic is up 14% after the FAA was given the green light to fly passengers into space. “The commercial license we held since 2016 remains in place, but is now approved to carry commercial passengers when we are ready,” Michael Colglazier, CEO of Virgin Galactic, told CNBC.

2. The Fed’s most popular inflation indicator is hot

3. Infrastructure compromise includes $ 579 billion in new spending

US President Joe Biden speaks after a bipartisan meeting with US Senators on the proposed framework for the Infrastructure Bill on June 24, 2021 at the White House in Washington.

Kevin Lamarque | Reuters

The bipartisan infrastructure compromise includes $ 579 billion in new spending, of which $ 312 billion will be used on transportation projects such as roads, bridges and trains. The plan also puts $ 266 billion into non-transport infrastructure, including power, water and broadband internet improvements. Only $ 15 billion goes into infrastructure for electric vehicles and electric buses and public transportation, a fraction of what Biden originally proposed. How they should pay for all of this remains under discussion. The Democratic leaders on Capitol Hill want to pass the bipartisan framework along with a larger bill to address more of their priorities without a Republican vote.

4. The search for survivors of the building collapse in Florida continues

This aerial view shows search and rescue workers working on site after the partial collapse of the Champlain Towers South in Surfside, north of Miami Beach, on June 24, 2021.

Chandan Khanna | AFP | Getty Images

Biden has promised to provide federal aid, if requested, in finding survivors of a partial collapse of a beachfront condo outside of Miami. At least one person was killed and nearly 100 people are still missing. Officials did not know how many people were in the tower when it collapsed in Surfside at around 1:30 a.m. ET early Thursday morning. Florida Governor Ron DeSantis, who toured the scene, said the rescue teams would “do anything to save lives. Authorities did not say what might have caused the collapse.

5. Chauvin could be sentenced for decades on Floyd’s death

A woman reacts following the verdict in the trial of former Minneapolis Police Officer Derek Chauvin, convicted of the death of George Floyd, on April 20, 2021 at BLM Plaza in Washington, DC.

Evelyn Hockstein | Reuters

Former Minneapolis Police Officer Derek Chauvin is convicted Friday of the murder of George Floyd’s death in a case that sparked worldwide outrage and a racial reckoning in America. Legal experts predict that Chauvin, 45, could live to be 20 to 25 years old. He was convicted of accidental second degree murder, third degree murder, and second degree manslaughter. While he is widely expected to appeal, Chauvin is also facing trial on federal civil rights charges along with three other dismissed officials whose state trials are pending.

– The Associated Press contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Tuesday, June 22

Retail earnings and consumer spending

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

1. Wall Street looks stable after the comeback rally; GameStop pops

A view of the New York Stock Exchange building on Wall Street in downtown Manhattan in New York City.

Roy Rochlin | Getty Images Entertainment | Getty Images

US stock futures rose modestly on Tuesday, a day after the Dow recovered a large portion of its 3.5% decline from last week due to the shift in the Federal Reserve’s rate hike schedule. The 30-share average rose 586 points, or nearly 1.8%, earlier in the week. The S&P 500 gained 1.4%, within 1% of its record high. The Nasdaq was Monday’s relative underperformer, up 0.8%.

SELINSGROVE, PENNSYLVANIA, UNITED STATES – 01/27/2021: A woman walks past the GameStop store in the Susquehanna Valley Mall. An online group rocketed GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) shares to suppress short sellers.

Photo by Paul Weaver / SOPA Images / LightRocket via Getty Images

GameStop shares rose 9% in the premarket after the video game retailer and Original Meme stock completed a previously announced sale of 5 million common shares that raised more than $ 1.1 billion. GameStop said it will use the proceeds for general corporate purposes, as well as investing in growth initiatives and maintaining a strong balance sheet.

2. Fed Chairman Powell will testify before the House of Representatives

Federal Reserve Chairman Jerome Powell speaks at a virtual press conference in Tiskilwa, Illinois on December 16, 2020.

Daniel Acker | Bloomberg | Getty Images

10-year government bond yields have rebounded since last week’s Fed-driven surge and brief decline to Monday’s February low. The 10-year yield ticked lower on Tuesday to around 1.47%. Fed chair Jerome Powell is going to a House panel this afternoon, and investors will be looking for more clues to policymakers’ rising inflation outlook and clues to two rate hikes in 2023.

In prepared testimony, Powell said the economy was growing but facing ongoing threats from the Covid pandemic. He also noted that inflation has risen noticeably, but the repeated price pressures will be temporary. The Fed has kept short-term lending rates near zero while buying at least $ 120 billion worth of bonds every month.

3. Bitcoin falls again, breaking below the important $ 30,000 level

This illustration from May 19, 2021 shows the virtual currency Bitcoin in front of a stock chart.

Given Ruvic | Reuters

Bitcoin fell more than 8% on Tuesday and was trading below $ 30,000. China’s renewed crackdown on the cryptocurrency industry has wiped nearly $ 300 billion in value from the entire digital currency market since Friday. As Beijing expanded its shutdown of Bitcoin mining operations, China’s central bank urged financial institutions not to offer any services related to crypto activities. Bitcoin is down more than 50% from its all-time high in April near $ 65,000.

4. EU opens antitrust investigation into Google’s advertising unit

A logo outside the Google Store Chelsea in New York, May 28, 2021.

Victor J. Blue | Bloomberg | Getty Images

The European Commission on Tuesday launched a new antitrust investigation into Alphabet’s Google to investigate whether the tech giant prefers its own online display ad technology services. As part of the investigation, the EU executive will assess the restrictions that Google places on the access of advertisers, publishers and other third parties to access data on user identity and behavior. Earlier this month, the French competition authority fined Google $ 262 million for abusing its market power in online advertising.

5. NYC Democrats will vote in Tuesday’s mayoral election

Mayoral candidates Eric Adams (L) and Andrew Yang

Getty Images

New York City Democratic voters go to the polls Tuesday to vote for their party’s mayoral candidate. Eight candidates – including the former presidential candidate Andrew Yang and the alleged top candidate Eric Adams – hope to replace the Democratic mayor Bill de Blasio, who can no longer run due to term restrictions. Tuesday’s Democratic primary, the winner of which is heavily favored against the GOP candidate in the November general election, is the first time the city has used a ranked selection. Voters will list their preferences in order for up to five candidates. Official results are not announced for weeks.

– NBC News contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Monday, June 21

5 things to know before the stock market opens Monday, June 21

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

1. The Dow is set to rise again after its worst weekly loss since October

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dow futures rebounded about 200 points on Monday after the 30-stock average posted its worst weekly drop since October as investors and traders sold on concerns the Federal Reserve might start rate hike earlier than expected. The Dow lost 533 points, or nearly 1.6%, on Friday, ending a five-session losing streak of nearly 3.5%. The S&P 500, which was down 1.3% on Friday, declined for four consecutive days, down 1.9% weekly. The Nasdaq was down less than 1% on Friday but only lost about 0.3% for the week.

Federal Reserve Chairman Jerome Powell during a House Financial Services Committee hearing in Washington on December 2, 2020.

Swimming pool | Getty Images News | Getty Images

The Fed raised its inflation forecast last Wednesday and announced two rate hikes for 2023. Fed chairman Jerome Powell said central bankers are considering scaling back their massive Covid-era bond purchases. Fed spokesmen will get a lot of attention this week, including Powell’s congressional statement on Tuesday. The US 10-year Treasury yield continued to decline from last week’s Fed-driven surge, trading just above 1.4% early Monday. It fell briefly to 1.354%, the lowest level since the end of February.

2. Bitcoin drops as China expands crackdown on crypto mining

A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016.

Paul Ratje | The Washington Post | Getty Images

Bitcoin fell 7% on Monday, trading below $ 33,000 for the first time in nearly two weeks after reports that China’s crackdown on cryptocurrency mining extended to southwestern Sichuan province. This follows similar developments in China’s Inner Mongolia and Yunnan regions, as well as calls from Beijing to end crypto mining amid concerns about massive energy consumption. The Communist Party-backed Global Times estimates that more than 90% of China’s bitcoin mining capacity has been shut down.

3. Prime Day begins as retailers face supply chain disruptions

Amazon’s Prime Day started on Monday. Prime Day 2020, postponed to October due to the pandemic, pulled in $ 10.4 billion, according to Digital Commerce 360, a 45% increase from the two-day event last year. This year’s Prime Day takes place as retailers grapple with widespread global supply chain disruptions. Several other major retailers – including Walmart, Target, Kohl’s, Macy’s, and Costco – are holding competing sales events this week.

4. American Airlines will cancel 100 more flights on Monday

American Airlines planes at LaGuardia Airport

Leslie Josephs | CNBC

As travel demand soars to pre-pandemic levels, American Airlines canceled 100 more flights on Monday after hundreds were scrapped over the weekend due to staff shortages, maintenance, and other issues. American said it was cutting its overall plan by about 1% by mid-July to take the pressure off operations. The airline made some of its recent problems due to scheduling complications stemming from the bad weather at its Charlotte and Dallas / Fort Worth hubs in the first half of June. American is also rushing to train any pilots it has put on leave between two state aid packages banning layoffs, as well as Airmen due for regular recurring training.

5th Tokyo Olympics to allow 10,000 local fans in the venues

Visitors try to take photos in front of the Olympic Rings monument in front of the Japan Olympic Committee (JOC) headquarters near the National Stadium, the main stadium for the 2020 Tokyo Olympics which is due to coronavirus disease (COVID-19) 2021) outbreak, in Tokyo, Japan, May 30, 2021.

Issei Kato | Reuters

The Tokyo Olympics will allow some local fans to compete in the Summer Games if they open in just over a month. Foreign fans were banned a few months ago. For all Olympic venues, the organizers set a capacity limit of 50% to a maximum of 10,000 fans. The decision contradicts the country’s top medical adviser, who recommended last week that the Olympics be the safest way to hold the Olympics without fans during the pandemic. Japan’s prime minister, who favored admitting fans, said ahead of the official announcement that local fans would be banned if conditions change. The Tokyo Games are slated to open on July 23rd.

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics owns the U.S. broadcast rights to all Summer and Winter Games through 2032.

– CNBC’s Leslie Josephs and The Associated Press contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Friday, June 18

5 things to know before the stock market opens Friday, June 18

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

1. Dow tracks for first five-session losing streak since January

Traders at the New York Stock Exchange.

Source: NYSE

U.S. stock futures fell sharply Friday as the Dow looked to be set up for its first five-session losing streak since January. Dow futures sank 300 points. Thursday was the second 200-point-plus down day in a row following the Federal Reserve meeting. As of Thursday’s close, the 30-stock average was off nearly 2% for the week. The S&P 500, tracking for a more modest weekly decline, fell Thursday for the third straight session. The Nasdaq bucked Thursday’s down trend, adding nearly 0.9% and breaking a two-session losing streak. The Nasdaq was within just 13 points of Monday’s record close. The S&P 500 was less than 1% from its record close Monday. The Dow was more than 2.7% from its latest record close in early May.

2. 10-year yield continues to bounce around after Fed-driven spike

Federal Reserve Chair Jerome Powell speaks during a Senate Banking Committee hearing on Capitol Hill, Washington, December 1, 2020.

Al Drago | Pool | Reuters

The 10-year Treasury yield to fluctuate after Wednesday’s Fed-driven spike to nearly 1.6%, trading Friday around 1.5%. Yields drifted lower despite rising inflation expectations from the Fed. The central bank on Wednesday afternoon also signaled two interest rate hikes in 2023. In March, policymakers said they saw no increases until at least 2024. Fed Chairman Jerome Powell has said he’s willing to let inflation run above the Fed’s traditional 2% target rate before adjusting policy in order to allow the economy more room to recover from the depths of the Covid pandemic.

3. Many commodities bounce one day after falling sharply

Many commodities bounced Friday, one day after falling sharply as China started to take steps to cool off rising prices. Those declines cut into months of gains and weighed on stocks. On Thursday, the drops in commodities were widespread, with platinum futures falling more than 11%, along with declines of nearly 6% in corn futures and 4.8% in copper futures.

A Chinese government agency announced a plan Wednesday to release some of its reserves of key metals. Commodities often move inversely to the dollar since they are mostly priced globally in the U.S. currency, which has been strengthening since this week’s Fed decisions.

4. Warnings about Covid from U.K. study and England’s top medical officer

Paramedics arrive with a patient with Covid-19 at the emergency department of Sharp Memorial Hospital in San Diego, California.

Bing Guan | Bloomberg | Getty Images

A new U.K. study examined brain imaging before and after coronavirus infections and looked specifically at the potential effect on the nervous system. “In short, the study suggests that there could be some long-term loss of brain tissue from Covid, and that would have some long-term consequences,” Dr. Scott Gottlieb told CNBC’s “The News with Shepard Smith.” The destruction of brain tissue could explain why Covid patients lost their sense of smell, he said.

Hounslow, London, which has become one of the U.K.’s biggest hotspots for the variant of coronavirus first identified in India, on Thursday 27th May 2021.

Tejas Sandhu | MI News | NurPhoto | Getty Images

England’s top medical officer warned it would likely take five years before new Covid vaccines could “hold the line” to a very large degree against a range of coronavirus variants. Until then, Chief Medical Officer Chris Whitty said, new vaccination programs and booster shots would be needed. A further easing of lockdown restrictions in England was delayed this week due to a surge in cases of the delta variant first discovered in India.

5. Biden signs a bill establishing Juneteenth as a federal holiday

U.S. President Joe Biden is applauded as he reaches for a pen to sign the Juneteenth National Independence Day Act into law as Vice President Kamala Harris stands by in the East Room of the White House in Washington, June 17, 2021.

Carlos Barria | Reuters

Most federal workers will observe Juneteenth on Friday because the new holiday marking the end of slavery in the U.S. falls on a Saturday this year. The New York Stock Exchange will not close for Juneteenth but will evaluate closing for it in 2022. On Thursday, President Joe Biden signed a bill establishing Juneteenth, celebrated on June 19, as the first new federal holiday since Martin Luther King Jr. Day in 1983. Juneteenth marks the day in 1865 when Union soldiers arrived Galveston, Texas, and officially ended slavery in the state. It happened more than two years after then-President Abraham Lincoln issued the Emancipation Proclamation.

— Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

Disclosure: Dr. Scott Gottlieb is a CNBC contributor and is a member of the boards of Covid vaccine maker Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings′ and Royal Caribbean’s “Healthy Sail Panel.”

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5 issues to know earlier than the inventory market opens Thursday, June 17

5 things to know before the stock market opens Monday, June 14

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

1. Stocks will slide after the Fed-driven Wall Street decline

Dow futures fell more than 50 points on Thursday, the day after the 30-stock average closed at 265 points, or nearly 0.8%, as the Federal Reserve raised its rate hike schedule. The Dow was down 382 points on Wednesday afternoon during Fed Chairman Jerome Powell’s news conference that began at 2 p.m. ET 30 minutes after the central bank’s political statement and forecasts were released. Like the Dow, the S&P 500 and Nasdaq hit their daily lows around the same time. But their lower closings were less strict. The S&P 500 and Nasdaq were less than 1% off Monday’s record high. The Dow was more than 2% off its previous record high in early May.

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. Central bankers indicate two rate hikes for 2023, no QE change

The Fed left rates unchanged on Wednesday and made no mention of adjusting its massive quantitative easing program to buy Covid-era bonds. Looking ahead, central bankers announced two rate hikes for 2023. In March, they hadn’t expected any rate hikes until at least 2024. The Fed also raised its inflation expectation to 3.4% on Wednesday, a whole percentage point above the March forecast. The political statement following Wednesday’s session went on to say that inflationary pressures were “temporary”, although recent data on wholesale and consumer prices showed that inflation has not reached the pace it has seen in more than a decade. The yield on 10-year government bonds rose to around 1.57% on Thursday morning. It was just under 1.5% just before the Fed’s announcements.

3. Powell tells Jobs that inflation targets come a little faster

Federal Reserve Chairman Jerome Powell

Kevin Lamarque | Reuters

Powell said that progress toward the Fed’s dual employment and inflation targets was slightly faster than expected. Central bankers have raised their GDP expectations for this year from 6.5% previously to 7%. Their estimate of the unemployment rate remained unchanged at 4.5%. As further evidence that going back to business has helped get people back to work, the latest total number of initial government jobless claims is expected to drop to a new pandemic low of 360,000 for last week. The report will be issued Thursday at 8:30 a.m. ET. Two weeks ago, new applications for unemployment benefit went below 400,000 for the first time since March 2020.

4. 11 Republican Senators support bipartisan infrastructure plan

Senator Mitt Romney, a Republican from Utah, arrives for lunch on Capitol Hill in Washington, DC on Wednesday, June 16, 2021.

Sarah Silberner | Bloomberg | Getty Images

A bipartisan senatorial group working on a $ 1 trillion infrastructure compromise has more than doubled to 21 members, a key threshold that gives momentum to its push as President Joe Biden comes at a crucial time for his huge overseas legislative priority returns. Eleven Republican senators joined the effort. In the equally divided Senate, the conservative West Virginia Democrat Joe Manchin, who supports the bipartisan measure, has stressed that he wants to pass a package with GOP votes. Biden wants a bigger bill, more like he suggested in his $ 1.7 billion American job plan. Biden left Geneva after meeting with Russian President Vladimir Putin on Wednesday, saying he has not seen the bipartisan law, but his chief of staff believes there is “some room” for a deal with the Republicans.

5. CureVac fuels almost 50% after disappointing Covid vaccine data

A volunteer receives a dose of CureVac vaccine or a placebo during a study by the German biotech company CureVac as part of a test for a new vaccine against coronavirus disease (COVID-19) in Brussels on March 2, 2021.

Yves Herman | Reuters

CureVac shares plunged nearly 50% in the US premarket on Thursday, the morning after the German biopharmaceutical company released disappointing preliminary results for its Covid vaccine candidate. It showed a preliminary effectiveness of 47% against “any severity” disease, missed the main target and challenged the potential delivery of hundreds of millions of doses to the European Union. While late studies were conducted with the more than 90% effective Pfizer BioNTech and Moderna vaccines when the original version of the coronavirus prevailed, real data so far only indicated slightly weaker protection against the new variants.

– Associated Press and Reuters contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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5 issues to know earlier than the inventory market opens Wednesday, June 16

5 things to know before the stock market opens Wednesday, June 16

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

1. Equities look stable ahead of Fed meeting updates

Traders on the floor of the New York Stock Exchange.

Source: NYSE

US stock futures were flat ahead of the Federal Reserve’s two-day meeting on Wednesday afternoon. No monetary policy changes are expected, but Wall Street wants to know if the Fed still considers rising inflation to be temporary and if its latest assessment will lead to an earlier than expected rate hike and tapering of its massive bond buying program. On the first day of the Fed’s meeting and after another glowing inflation report, the S&P 500 and Nasdaq broke off their three-day winning streaks and broke off Monday’s record closing times. The Dow fell for the second straight year on Tuesday. The 30-share average was about 1.4% off its record closing price in early May.

2. Bond yields in the Fed hold pattern after the latest hot inflation data

June 2021, employees work in a factory for the production of trucks in Zhangjiakou in the northern Chinese province of Hebei.

STR | AFP | Getty Images

3. Last key economic data for the Fed to consider

New townhouses are being built in Tampa, Florida on May 5, 2021 while building materials are in high demand.

Octavio Jones | Reuters

Housing starts and permits for May, the final key economic data ahead of the Fed’s decision, are expected to be released at 8:30 a.m. ET. Economists expect new builds to rise by 3.9% to 1.63 million units a year. Housing starts fell 9.5% in April. Building permits fell 1.7% to 1.73 million in May, after a 0.3% increase in April. In addition to its policy statement, the Fed also publishes its quarterly summary of economic outlooks. According to CNBC’s latest Fed poll, economists, fund managers and Wall Street strategists see no throttling before January or the first rate hike of near zero by November 2022.

4th high-level Biden-Putin summit begins in Geneva

Russia’s President Vladimir Putin (L) and US President Joe Biden meet for talks at Villa La Grange.

Mikhail Metzel | TASS | Getty Images

As one of the most anticipated geopolitical events of the year, the meeting between US President Joe Biden and Russian President Vladimir Putin began in Geneva on Wednesday. The summit comes as relations between the two nations have deteriorated and the US accuses Russia of meddling in the elections and participating in human rights abuses and recent cyber attacks. Russia has always denied the multiple allegations, saying it was a victim of anti-Russian sentiment in the West. Biden meets Putin at G-7 and NATO summits after a whirlwind of American diplomacy with European allies.

5th study: Regeneron antibody cocktail can save hospitalized Covid patients

View of the corporate headquarters and research and development of Regeneron Pharmaceuticals on Old Saw Mill River Road in Tarrytown, New York.

Lev Radin | LightRakete | Getty Images

According to a British study, an antibody combination from the US biotech Regeneron reduces the risk of death in hospital patients with severe Covid, whose own immune system showed no reaction. Dr. Scott Gottlieb told CNBC on Wednesday, “This was the subset that the [former] President also likely fell into disrepair, “refers to when Donald Trump received Regeneron treatment during his battle with Covid last year symptoms and significantly reduces the risk of hospitalization or death.

Disclosure: Dr. Scott Gottlieb is a CNBC employee and a member of the board of directors of Covid vaccine maker Pfizer, genetic testing startup Tempus, health technology company Aetion, and biotechnology company Illumina. He is also co-chair of the Healthy Sail Panel of Norwegian Cruise Line Holdings and Royal Caribbean.

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5 issues to know earlier than the inventory market opens Tuesday, June 15

5 things to know before the stock market opens Tuesday, June 15

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

1. Stock futures are ahead of inflation data, Fed meeting

US stock futures were flat on Tuesday before a key government report on wholesale prices was released that could fuel or dampen inflation fears. Either way, investors will wait for signals from the Federal Reserve regarding their tolerance for inflation when the June two-day meeting of central bank policymakers ends on Wednesday.

CNBC’s latest Fed poll of economists, fund managers, and Wall Street strategists shows they believe the Fed’s cutback in massive Covid-era bond purchases won’t begin until January and the first near-zero rate hike in November will happen 2022.

With that in mind, the Nasdaq started the week up, propelling the tech-heavy index above its late April high. The S&P 500 saw a slight rise and another record close. The Dow broke a two-day winning streak. The 30-share average was 1.1% off its last record high in early May.

2. Government reports producer prices and retail sales in May

The 10-year government bond yield ticked lower Tuesday, trading around 1.49%, ahead of the Department of Labor’s May price index and May of the Department of Commerce’s retail sales. The headline PPI and core rate excluding food and energy both increase 0.5%. Economists expect retail sales to decline 0.6% in May. Without car sales, however, an increase of 0.5% is expected. Those data points and the Wednesday morning construction starts will be the final reports central bankers will need to consider before issuing their policy statement on Wednesday afternoon, followed by Fed Chairman Jerome Powell’s press conference.

3. USA and EU resolve 17-year Boeing-Airbus dispute; Suspend tariffs

US President Joe Biden (L) and French President Emmanuel Macron (C) talk to EU Commission President Ursula von der Leyen after the family photo at the start of the G7 summit in Carbis Bay, Cornwall on June 11, 2021.

PATRICK SEMANSKY | AFP | Getty Images

The EU and the US have settled a 17-year dispute over government subsidies for their respective aircraft manufacturers Boeing and Airbus. The two sides agreed to suspend the trade tariffs resulting from the dispute for five years. European Commission President Ursula von der Leyen said at her meeting with President Joe Biden in Brussels: “This meeting started with a breakthrough in aircraft.” Last week, CNBC reported that the EU was pushing Biden’s White House to reach an agreement to end the mutual tariffs on the matter imposed during former President Donald Trump’s tenure.

4. Biden travels to Geneva to meet Russian President Putin Put

This combination of file images, taken on June 7, 2021, shows then-Democratic presidential candidate Joe Biden speaking on the 17th during a speech in Darby, Pennsylvania, and team members attending the upcoming 2018 Pyeongchang Winter Olympics January 31, 2018 in the state residence Novo-Ogaryovo outside Moscow.

Jim Watson | AFP | Getty Images

Biden, who met with European allies at a G-7 summit in the UK and a NATO summit in Belgium this week, will meet with Russian President Vladimir Putin on Wednesday in Geneva, Switzerland. It is the third time that Geneva has hosted US and Russian leaders for talks. The first, in 1955, concerned then President Dwight D. Eisenhower and then Soviet leader Nikita Khrushchev. The second took place 30 years later between then President Ronald Reagan and Mikhail Gorbachev. Both meetings made progress in easing tensions. This time around, there is hope that the Biden-Putin meeting can bring about a modest improvement in the current US-Russia crisis on issues such as Ukraine, human rights and cyberattacks.

5. US nears 600,000 cumulative deaths from Covid-19

A woman and child look at Naming the Lost Memorials as US deaths from coronavirus disease (COVID-19) are expected to exceed 600,000 in Green Wood Cemetery in Brooklyn, New York, the United States, Jan. 2021.

Brendan McDermid | Reuters

With new daily Covid cases and deaths in the US dropping dramatically along with high vaccination rates, the nation was on the verge of recording a total of 600,000 deaths from the disease. According to the Johns Hopkins University, these are the most cumulative Covid deaths of all countries in the world. The US also has the highest total infections in the world, with nearly 33.5 million cases. However, with increases in Brazil and India, these countries follow the US in total deaths, with more than 488,200 in Brazil and about 377,000 in India. When it comes to cumulative infections, it’s about: India was number 2 with just under 29.6 million and Brazil was number 3 with around 17.5 million.

– The Associated Press contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.

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Health

5 issues to know earlier than the inventory market opens Monday, June 14

5 things to know before the stock market opens Monday, June 14

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

1. Wall Street set to open steady after another S&P 500 record

Traders on the floor of the New York Stock Exchange.

Source: NYSE

U.S. stock futures were flat Monday after the S&P 500 eked out another record close Friday. The S&P 500 rose 0.4% for the week, notching a three-week winning streak. The Nasdaq’s gain Friday put the tech-heavy index within 0.5% of its record close in late April. The Nasdaq soared nearly 1.9% for the week, logging its fourth straight weekly gain. The Dow’s slight advance Friday inched the 30-stock average less than 1% closer to last month’s record close. However, the Dow dropped 0.8%, breaking a two-week winning streak.

The 10-year Treasury yield was steady early Monday, firmly below 1.5%, ahead of Federal Reserve’s June meeting on Tuesday and Wednesday. Inflation will be front and center on investors’ minds after last week’s hotter-than-expected consumer price index reading for May. The Fed has been promising to keep its extraordinary Covid-era easy money measures in place — massive asset buying and near zero interest rates — claiming any price pressures will be transitory.

2. Novavax says its Covid vaccine is 90% effective overall

A woman holds a small bottle labeled with a “Coronavirus COVID-19 Vaccine” sticker and a medical syringe in front of displayed Novavax logo in this illustration taken, October 30, 2020.

Dado Ruvic | Reuters

Biotech firm Novavax said Monday its Covid vaccine was shown to be safe and 90.4% effective overall in a phase three clinical trial of nearly 30,000 participants across the U.S. and Mexico. Additionally, the two-dose vaccine was found to be 100% effective in preventing moderate and severe disease and 93% effective against some variants. Novavax plans to file for authorization with the Food and Drug Administration in the third quarter. If allowed for emergency use, it would join shots from Pfizer, Moderna and Johnson & Johnson that already received U.S. approval. Shares of Novavax rose 5% in premarket trading.

3. Bitcoin jumps after Tudor Jones endorsement, Musk tweet

Bitcoin popped back above $40,000 on Monday, shortly after investor Paul Tudor Jones endorsed it in a CNBC interview and one day after Tesla CEO Elon Musk tweeted that the electric auto maker could accept bitcoin transactions again in future. Musk said Sunday that Tesla will resume allowing bitcoin transactions “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.” Tesla halted car purchases with bitcoin in mid-May, citing concerns over the climate impact of cryptocurrency mining.

4. Biden to attend NATO summit after G-7 gathering, ahead of Putin meeting

US President Joe Biden attends the G7 summit in Carbis Bay, Cornwall on June 11, 2021.

Leon Neal | AFP | Getty Images

President Joe Biden is set to attend a NATO summit in the Belgium capital Brussels on Monday, aiming to consult European allies on efforts to counter provocative actions by China and Russia. Biden will also highlight the United States’ commitment to the 30-nation alliance, which was frequently maligned by former President Donald Trump. Biden’s trip to Europe started with a G-7 meeting, which ended Sunday with promises to enact measures on Covid vaccines and a global corporate tax as well calls for China “to respect human rights and fundamental freedoms.” Biden is set to sit down with Russian President Vladimir Putin in Geneva, Switzerland, on Wednesday.

5. Israel’s new government gets to work after Netanyahu ouster

Leader of the Israeli Yemina party, Naftali Bennett, delivers a political statement at the Knesset, the Israeli Parliament, in Jerusalem, on May 30, 2021.

YONATAN SINDEL | AFP | Getty Images

For the first time in 12 years, Israelis woke up to a new prime minister after 49-year-old Naftali Bennett late Sunday secured the backing of parliament and ousted longtime leader Benjamin Netanyahu. Under a coalition agreement, Bennett, a former ally of Netanyahu turned rival, will hold office of the premier for the first two years of the term, and then Foreign Minister Yair Lapid, the architect of the coalition, will become prime minister. Netanyahu, the longest to hold office, will now serve as the opposition leader. The 71-year-old has made clear he has no intention of exiting the political stage.

— The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.