The most important news that investors need to start the trading day are:
1. Stability-seeking stocks
Traders on the floor of the New York Stock Exchange, June 28, 2022.
Source: NYSE
Attempts by stock markets to build on last week’s acceleration have so far failed this week. Futures have changed little Wednesday morning by Tuesday route. The S&P 500 is on the verge of completing its worst first half since 1970. The earnings season is almost here, but companies like Nike have warned of persistent problems such as inflation and sobs in the supply chain. performance of companies.
2. Fed Master July interest rate hike
Loretta Mester, President and CEO of the Cleveland Federal Reserve, will deliver a keynote address at the 2014 Financial Stability Conference in Washington on December 5, 2014.
Gary Cameron | Reuters
Loretta Mester, president of the Federal Reserve Bank of Cleveland, a voting member of the Fed’s policy-making panel, said it could push for higher interest rates next month. “If the conditions were the same as in today’s meeting – if the meeting were today – I would support 75, because I did not see the figures I should have seen on the inflation side. I think we can return to an increase of 50,” he said. CNBC interview with Annette Weisbach. Investors will also pay attention to the comments of Fed Chairman Jerome Powell, who addressed the European Central Bank forum on Wednesday.
3. Bed Bath & Beyond CEO leaves
Bed Bath & Beyond CEO Mark Tritton
Courtesy: Bedroom and Beyond
Bed Bath & Beyond announced leadership shake On Wednesday morning, CEO Mark Tritton continues to struggle as a home improvement retailer. Sue Gove, an independent director on the board, will serve as interim executive director. “We need to give improved results,” he said. The company, which has come under pressure from active investor Ryan Cohen, also released quarterly results that shattered Wall Street’s expectations. In premarket trading, stocks lost more than 10%.
4. Hot information from China
For more than two years, foreign travelers have had to be quarantined after arriving in China due to Jovid restrictions. These are the passengers waiting to be taken to the quarantined destinations on June 18, 2022 at Beijing International Airport.
Leo Ramirez | afp | Getty Images
Tough Covid restrictions and locks in China affected the country’s economic growth in the second quarter, according to a new report. According to the US-based China Beige Book, which conducted more than 4,300 interviews in China in three months, various sectors, including transportation and services, have slowed. Recruitment has also slowed, according to the study, and will probably not resume until the Chinese government provides more incentives this fall.
5. Disney has extended Chapek’s contract
Bob Chapek, Disney CEO at Boston College General Leaders Club, November 15, 2021.
Charles Krupa | AP
disney CEO Bob Chapek will be working for Disney + for at least a little longer while pursuing a broader customer growth goal. His contract was due to expire in February next year, but the council voted again to extend the contract. During his relatively short tenure, Chapek faced a fair share of controversy and confusion. He has come under fire for his response to Florida’s so-called “Gay Say” law, and the company’s stock has fallen 38% so far this year. Chapek also made a difficult move when he came to power from the famous CEO Bob Iger, who has long controlled Disney’s acquisition of Pixar, Marvel and Star Wars.
– CNBC’s Samantha Subin, Elliot Smith, Melissa Repko, Evelyn Cheng and Sarah Whitten contributed to this report.
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