[ad_1]
Traders work on the floor of the New York Stock Exchange.
NYSE
Here are the most important news items investors need to start their trading day:
1. Return to neutral
US stock markets took a back seat on Monday, posting slight losses after a major rally on Friday. Two big things have been on the minds of investors: Apple’s announcement of its new mixed-reality headset (more on that below) and the possibility that regulators could raise capital requirements for major banks. The latter weighed in on stocks from JPMorgan Chase Unpleasant Goldman Sachsbut hit the SPDR S&P Bank ETF more difficult. Meanwhile, government bond yields fell as investors weighed the possibility of avoiding a recession. Follow live market updates.
2. Apple’s new reality
Apple shares ended slightly lower Monday after the tech giant unveiled its $3,499 Vision Pro mixed-reality headset. But that doesn’t mean the gadget that represents Apple’s first major new product line since 2014 failed to impress. It has certainly attracted attention in the industry. It also caused a big jump in game development platform shares Unity software, as Apple announced it would be one of the partners for the Vision Pro. But as Meta has shown, reality-tweaking headsets are a hard sell, especially at higher prices. However, Apple looks like it’s in this for the long haul as it tries to reimagine the computing experience once again.
3. SEC vs CZ
Binance’s co-founder and CEO Changpeng Zhao has given several interviews discussing the outlook for cryptocurrency after a turbulent few weeks in the market.
NurPhoto/Contributor/Getty Images
The Securities and Exchange Commission charged Binance and CEO Changpeng Zhao on Monday several violations after months of heightened regulatory oversight of the world’s largest crypto exchange in the wake of FTX’s collapse. “Through thirteen indictments, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure and calculated evasion of the law,” SEC Chairman Gary Gensler said in a press release. . Binance expressed disappointment with the complaint, saying it had “cooperated actively with the SEC’s investigations”. Zhao, also known as CZ, also dismissed the allegations. The SEC case is not Binance’s only legal challenge. The Commodity Futures Trading Commission sued the company in March and the Justice Department is also investigating.
4. GM’s Pickup Pickup
Line workers work on the chassis of General Motors full-size pickups on June 12, 2019 at the Flint Assembly plant in Flint, Michigan.
JEFF KOWALSKY/AFP/Getty Images
Even General engines and its main rivals aiming for an all-electric future, they still rely heavily on old-fashioned pick-ups powered by gas and diesel. The company underlined that fact Monday when it announced it would invest $1 billion to produce new heavy-duty pickups. GM is counting on its highly profitable pickups to take it financially into an era where it can make a profit on electric vehicles. The investment also comes ahead of potentially contentious contract negotiations with the United Auto Workers union, which is seeking better compensation for workers as they navigate the transition to electric vehicles.
5. Dam destroyed in Ukraine
A screenshot of footage posted to Ukrainian President Zelensky’s social media account shows the Kakhovka hydroelectric power plant following an explosion at a factory in the Russian-controlled part of Kherson in Ukraine on June 6, 2023.
Anadolu Agency | Anadolu Agency | Getty Images
A dam in a Russian-occupied territory in southern Ukraine was destroyed on Tuesday morning. unleashing a deluge of water that prompted emergency evacuations. The government of Ukraine blamed Russian troops for the disaster. “Russian terrorists,” Ukrainian President Volodymyr Zelenskyy tweeted. “The destruction of the dam of the Kakhovka hydroelectric power station only confirms to the whole world that they must be expelled from every corner of the Ukrainian land.” Russia denied it, instead blaming Ukraine itself for the dam’s damage. Follow live war updates.
CNBC’s Alex Harring, Lauren Feiner, Kif Leswing, Rohan Goswami, Michael Wayland, Holly Ellyatt and Sam Meredith contributed to this report.
Monitor broader market action like a pro CNBC Pro.
|
Sources 2/ https://www.cnbc.com/2023/06/06/5-things-to-know-before-the-stock-market-opens-tuesday-june-6.html The mention sources can contact us to remove/changing this article |
[ad_2]