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Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stock futures fail to follow through on Wall Street’s comeback
Traders work on the floor of the New York Stock Exchange (NYSE) on April 25, 2022 in New York City.
Spencer Platt | Getty Images
- Wall Street saw a major turnaround Monday, with the Dow Jones Industrial Average reversing a 488-point decline to close 238 points or 0.7% higher. The S&P 500 and the Nasdaq erased losses, finishing up 0.6% and 1.3%, respectively.
- Bond yields ticked lower on economic slowdown concerns Tuesday as a number of key reports were hitting before the bell. March durable goods orders matched estimates. February S&P/Case-Shiller housing data showed home prices up nearly 20%. After Wall Street’s open, March new home sales and April consumer confidence are set for release at 10 a.m. ET.
2. PepsiCo raises revenue outlook as earnings beat estimates
In this photo illustration PepsiCo products are shown on October 05, 2021 in Chicago, Illinois.
Scott Olson | Getty Images
3. U.S. to expand access to Covid pills; Beijing conducts mass testing
Coronavirus disease (COVID-19) treatment pill Paxlovid is seen in a box, at Misericordia hospital in Grosseto, Italy, February 8, 2022.
Jennifer Lorenzini | Reuters
China’s capital city of Beijing reported a spike in Covid cases over the weekend and began mass testing Monday in the business district of Chaoyang. Within the district, one community that’s pictured here became classified as a high-risk area.
Jiang Qiming | China News Service | Getty Images
Three-quarters of Beijing’s 22 million citizens lined up for coronavirus tests Tuesday as authorities in the Chinese capital raced to stamp out a nascent outbreak under the country’s zero-Covid policy. They want to avoid the debilitating citywide lockdown that’s hampered China’s biggest city of Shanghai for a month.
4. Twitter CEO says company future unclear under Musk; Dorsey endorses
Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018.
Anushree Fadnavis | Reuters
Among those reacting to Twitter on Monday reaching a buyout deal with Musk is fellow billionaire and co-founder of the social network Jack Dorsey. In a tweet Monday night, Dorsey wrote: “Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”
5. Fidelity to allow retirement savers to include bitcoin, WSJ says
A bitcoin logo is seen at the entrance of the Miami Beach Convention Center during the Bitcoin Conference 2022 in Miami Beach, Florida, April 6, 2022.
Marco Bello | Reuters
Fidelity Investments will allow investors to add a bitcoin account to their 401(k)s, according to The Wall Street Journal on Tuesday. The 23,000 companies using Fidelity to administer their retirement savings offerings will have the option to add bitcoin to their plans later this year, the Journal’s report said. The head of workplace retirement offerings and platforms at Fidelity said the option will initially be limited to bitcoin but expects other digital assets to be made available in the future.
— CNBC’s Tanaya Macheel, Hannah Miao, Sarah Min and Ryan Browne as well as Reuters contributed to this report.
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https://www.cnbc.com/2022/04/26/5-things-to-know-before-the-stock-market-opens-tuesday-april-26.html
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