October 4, 2022

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5 things to know before the stock market opens Monday, Nov. 8

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

1. Dow futures higher after more Wall Street records Friday

Traders on the floor of the NYSE

Source: NYSE

2. Ether hits a record as bitcoin inches toward its all-time high

In 2021, bitcoin and ether have seen huge rallies. In April 2021, the cryptocurrency market topped $2 trillion in value for the first time.

Jaap Arriens | NurPhoto | Getty Images

3. Tesla slides 5% after Musk proposes sale of 10% of his stock

Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory during a press event.

Patrick Pleul | picture alliance | Getty Images

4. Regeneron’s Covid antibody therapy shows long-term protection

Regeneron Pharmaceuticals said Monday a single dose of its antibody cocktail in a late-stage trial reduced the risk of contracting Covid by 81.6%, in the two-to eight-month period after the administration. During the eight-month assessment period, there were zero Covid hospitalizations in the drug group and six in the placebo group. Shares of Regeneron rose about 2% in premarket trading.

5. Appeals court freezes Biden mandate; U.S. lifts travel restrictions

Surgeon General Vivek Murthy told ABC’s “This Week” on Sunday the Biden administration is ready to defend its “appropriate and necessary” Covid vaccine and testing requirement for private businesses. A federal appeals court Saturday temporarily blocked the upcoming mandate. The White House has until Monday evening to respond.

The U.S. lifted restrictions Monday on travel from a long list of countries including Mexico, Canada and most of Europe. Travelers must show proof of vaccination and a negative Covid test. The rules allow tourists to make long-delayed trips and family members to reconnect with loved ones after more than a year and a half apart due to the pandemic.

— The Associated Press 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.

https://www.cnbc.com/2021/11/08/5-things-to-know-before-the-stock-market-opens-monday-nov-8.html