Here are the top news, trends, and analysis that investors need to get their trading day started:
People walk past the New York Stock Exchange on Wall Street on May 10, 2021 in New York City.
Angela Weiss | AFP | Getty Images
US stock futures fell Monday after the strong rally on Friday. Friday’s gains of more than 1% for that Dow Jones industry average and S&P 500 and over 2% for that Nasdaq weren’t enough to offset the sharp declines early last week. The Dow and S&P 500 both saw more than 1% weekly declines, while the Nasdaq fell over 2% on its worst weekly performances since February. The roller coaster ride on inflation concerns Stocks fell early last week, with the Dow down 3.4%, the S&P 500 down 4% and the Nasdaq down 5%. All three stock benchmarks made up some of those Thursday and Friday losses.
Bond yields were mostly lower Monday after 10 year treasury yield jumped over 1.7% on Wednesday during last week’s worst stock sale. This was the highest 10-year return level in more than a month after a 14-month high in March. Fears of inflation and the question of whether the Federal Reserve will be able to keep the promised line with interest rates close to 0% and massive asset purchases rocked the markets. On Wednesday, the government reported that consumer prices accelerated at their fastest pace in more than 12 years in April as the US economic recovery kicked off. The Fed publishes minutes of its April meeting this Wednesday.
John Stankey, President & Chief Operating Officer of AT&T and Chief Executive Officer of WarnerMedia, speaks on stage at the HBO Max WarnerMedia Investor Day presentation at Warner Bros. Studios on October 29, 2019 in Burbank, California.
Presley Ann | Getty Images Entertainment | Getty Images
AT & T. on Monday announced a deal to combine its WarnerMedia unit for film and media content with discoveryThis paves the way for one of Hollywood’s greatest power players to better compete with the streaming media giants like Netflix and Disney. AT & T’s shares were up 2% and Discovery was up 10%. AT&T shareholders would own 71% of the new company. Discovery shareholders would own 29%. The transaction would assemble properties like CNN, HBO and Warner Bros. from WarnerMedia, as well as the HGTV, TLC and History channels from Discovery. In 2018, AT&T acquired Time Warner, since then renamed WarnerMedia, for an equity value of $ 85 billion.
Bitcoin It partially rebounded on Monday, trading over $ 45,000 per unit. The price of the world’s largest cryptocurrency fell below that level on Sunday after Musk apparently hinted on a Twitter exchange that Tesla might or might not sell the rest of its Bitcoin holdings. He “actually” replied to a sympathetic tweet.
All of this happened days after Musk said Tesla planned to hold onto its Bitcoin, even though it stopped using it to buy electric cars until Bitcoin mining can become more energetically sustainable.
People enjoying the sunshine on the steps of the MET in New York City as the CDC lifts restrictions on wearing masks for those who are fully vaccinated.
Adam Jeffery | CNBC
CDC director Dr. Rochelle Walensky urged people to be honest and only drop their Covid masks if they are fully vaccinated. The sudden change in CDC guidelines over the past week has puzzled some people as it is not overriding local mask regulations. Local governments and businesses are grappling with the question of whether to follow the CDC’s new guidelines. Starbucks said: “Face coverings are optional for vaccinated customers from Monday, May 17thunless required by local regulations. ” Walmart and Costco went ahead Friday. aim also joined.