[ad_1]
Traders on the floor of the NYSE, January 5, 2023.
Source: NYSE
Here are the most important news items investors need to start their trading day:
1. A little speed
The Nasdaq posted its second consecutive day of gains on Monday, even as the Dow and S&P 500 slipped. The tech-heavy Nasdaq took a beating last year, dragged down by big drops in stocks like Tesla. However, could this year bring a substantial turnaround? A classic indicator suggests that stocks are generally having a good year. Simply put, the S&P 500 has done well after the first five trading days of the year so far with a 1.1% increase and that could predict a positive 2023. However, Tuesday could test the market’s momentum, with Fed Chairman Jerome Powell speaking. Read live market updates here.
2. Goldman lays off 3,200
Goldman Sachs will lay off up to 3,200 workers this week, a warning sign that Wall Street is preparing for lean times this year. There’s a slight silver lining, though: Those 3,200 jobs represent about 6.5% of the major bank’s workforce, while Goldman is expected to cut up to 8% of its employees. However, that doesn’t mean that Goldman and Wall Street in general are done with layoffs. Bank executives want to see what happens in the first quarter, especially if the economy goes into recession. So there could be even more cuts in February or March.
3. Iger says go back to the office
Bob Iger, former CEO of The Walt Disney Company
Scott Mill | CNBC
The new year brought stricter requirements for returning to the office for many companies and their employees, with bosses calling for hybrid schedules, including coming two or three days a week. There is no exception disney, where CEO Bob Iger told company employees to come to the office at least four days a week starting March 1. Iger also wants to set a new tone at Disney, about two months after returning to the CEO’s office following the sudden resignation of his chosen successor, Bob Chapek. “As you’ve heard me say many times, creativity is the heart and soul of who we are and what we do at Disney,” Iger wrote to employees. “And in a creative company like ours, nothing can replace the ability to connect, observe and create with colleagues through being physically together, nor the opportunity to grow professionally by learning from leaders and mentors.”
4. Bed bath and bankruptcy?
A “Store Closing” banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, January 6, 2023.
Johnny Milan | Bloomberg | Getty Images
Bed bath & beyond may not have much time left. Last week, just days before the beleaguered retailer was due to report its quarterly earnings, the company posted a lot of results and warned it could soon receive bankruptcy protection. Bed Bath, which reported quarterly results on Tuesday, warned it was quickly running out of money as sales fell more than expected. Losses mounted, as did problems getting merchandise onto the shelves. Tuesday’s report could shed even more light on what’s going on at the company, including what’s next as its turnaround strategy bulges out. Read more from CNBC’s Melissa Repko and Gabrielle Fonrouge here.
5. Russia advances, crushes Ukraine
Ukrainian rescuers work at a site after a Russian missile attack on a local market in the village of Shevchenkove, Kharkiv region, on January 9, 2023.
Sergei Bobok | Afp | Getty Images
Russian troops have made “tactical progress” in their bid to seize territory in the Donbas region. In particular, they are targeting the capture of the city of Bakhmut, which appears to be Moscow’s “main immediate operational target” according to the British Ministry of Defence. Meanwhile, four civilians died and about 30 people were injured in the latest round of Russian missile strikes on Ukraine’s northeastern, eastern and southern areas, a top official said. Read live war updates here.
And one last addition…
Inglewood, CA – January 09: Quarterback Stetson Bennett #13 of the Georgia Bulldogs reacts after a touchdown against the TCU Horned Frogs in the first half of the CFP National Championship Football game at SoFi Stadium in Inglewood on Monday January 9, 2023. ( Photo by Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty Images)
Medianews Group/pasadena Star News Via Getty Images | Medianews group | Getty Images
The college football season ended with a big thud. The Georgia Bulldogs repeated as national champions by tearing up the underdog TCU Horned Frogs, 65-7, on Monday night. No team has ever scored more points in a national title game, dating back to the Bowl Championship Series debut in 1998, according to Associated Press.
CNBC’s Tanaya Macheel, Hugh Son, Alex Sherman, Sarah Whitten, Melissa Repko, Gabrielle Fonrouge and Holly Ellyatt contributed to this report.
Monitor broader market action like a pro CNBC Pro.
|
Sources 2/ https://www.cnbc.com/2023/01/10/5-things-to-know-before-the-stock-market-opens-tuesday-january-10.html The mention sources can contact us to remove/changing this article |
[ad_2]