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5 things to know before the stock market opens Thursday, August 11

5 things to know before the stock market opens Thursday, August 11

Traders on the floor of the New York Stock Exchange, August 8, 2022.

Source: NYSE

Here are the most important news that investors need to start their trading day:

1. Stock futures go up

US markets were on Thursday Ready to rise again After a government report showed inflation abating, it fueled a rally on Wednesday. All three major indicators come from a strong day: daw It rose more than 500 points, while the Standard & Poor’s 500 It reached its highest point since early May, and Nasdaq It fell to its highest closing level since April. Ahead of Thursday’s session, investors are shrugging off Disney’s earnings from Wednesday night (more on that below), while they look to the Producer Price Index and weekly job claims data later in the morning.

2. Gas has fallen to less than $4 a gallon

Gasoline prices in the US have been dropping for several weeks now, but the average cost per gallon has fallen below a key psychological barrier this week. A gallon of regular gas is now $3.99, the lowest since March. AAA said Thursday. Prices hit a record $5.02 in June, and were already higher in several places across the country. The news came a day after the Bureau of Labor Statistics said growth in the Consumer Price Index, a measure of inflation, slowed slightly more than expected in July. Prices are still high, but relief from lower gas prices and slowing inflation could help the economy avoid a recession, at least for the time being. Jeff Cox writes for CNBC.

3. Disney stream changes

Captain Minnie stands aboard Disney’s newest cruise ship, The Wish.

Disney

Disney largely highlighted the earnings on Wednesday night, and it took full advantage of it. The entertainment giant delivered a flood of news that drove its stock higher in out-of-hours trading: Quarterly results Exceeding Wall Street Expectations On the top and bottom lines, gardening performed well, and the stream of subscriber additions easily topped expectations. The The company raised prices for his streaming shows, While it scaled back its ambitious long-term goal Disney+ has 15 million subscribers, which many industry analysts have advocated. And the company seems to have given investors what they were looking for, especially as a flow leader Netflix It strives to adjust its business amid heavy losses in the number of subscribers and Discover Warner Bros. It places more emphasis on theatrical releases and traditional linear television. Disney Shares rose by a healthy margin before the bell on Thursday, after Wednesday’s gain of nearly 4%.

4. Ford CEO Electric Car Battery Warning

Ford F-150 Lightning at the 2022 New York Auto Show.

Scott Millian | CNBC

Electric vehicle makers, such as Ford Motor and TeslaPrices have increased recently, driven in large part by rising costs of materials used to make batteries. Don’t expect that to change in the foreseeable future, stronghold CEO Jim Farley Wed said. “I don’t think there will be much relief with lithium, cobalt and nickel any time soon,” he told reporters. Farley’s warning came as Congress was preparing to pass a climate and health care bill that includes several provisions aimed at shifting Americans away from gas engines toward electric cars, which are expensive and relatively in short supply. Many key figures in the industry, however, warn that the legislation It can actually hinder sales.

5. The United States is rethinking China’s tariff strategy

A screen shows Chinese President Xi Jinping attending a virtual meeting with US President Joe Biden via video link, at a restaurant in Beijing, China on November 16, 2021.

Tingshu Wang | Reuters

The Biden administration is reconsidering its strategy on tariffs on Chinese goods in the wake of China’s aggressive response to House Speaker Nancy Pelosi’s visit to Taiwan, Reuters reports. The Chinese government claims dominance over the autonomous island of Taiwan, and has conducted several large military exercises nearby to protest Pelosi’s trip. president Joe Biden He and his team were considering whether to drop some of the existing tariffs on Chinese goods, and possibly impose more, but officials have put those options aside, and Biden hasn’t made a decision yet, according to the report.

– CNBC’s Samantha Soobin, Jeff Cox, Alex Sherman, Sarah Witten, Pippa Stevens, John Rosivier, and Michael Wayland contributed to this report.

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