5 Things You Should Know Before The Stock Market Opens Monday, March 28th

Here are the most important news, trends and analyses that investors need to start a trading day:

1. Wall Street looks stable after two weeks of winning streak

New York Stock Exchange Floor Trader, March 21, 2022.

Source: NYSE

US equity futures were relatively flat on Monday. Wall Street was about to end its March rise on Thursday after recording two weeks in a row. Obtained an employment report prior to the Federal Reserve’s policy meeting in the first week of May. Bond yields are rising due to rising expectations for more aggressive rate hikes. Since 2006, there are concerns about the possibility of a recession. Benchmark 10-year Treasury yields reached a record high of nearly two years, reaching around 2.56%.

2. Oil sinks on demand after the announcement of the blockade of Shanghai Covid

Healthcare workers wearing protective equipment as a countermeasure against the Covid-19 coronavirus will walk the streets of Shanghai’s Jing’An district on March 26, 2022.

Hector Retamaru | Afp | Getty Images

US and international oil prices fell about 5% on Monday as traders worried about weak fuel demand in China after Shanghai launched a two-step Covid blockade. It applies to the eastern part of Shanghai, where the city’s financial center is located, on Friday morning. The Shanghai Stock Exchange will not be affected. The second phase applies to the western part of the city and runs from Friday morning to April afternoon. 5.5.

Aerial view of Tesla Shanghai Gigafactory in Shanghai, China, March 29, 2021.

XiaoluChu | Getty Images News | Getty Images

Tesla will stop production at its Shanghai plant following the first phase of the city’s blockade of Covid, Reuters reported Monday. The company declined to comment on the operational status of its Shanghai plant this week. Meanwhile, Tesla CEO Elon Musk, who has Covid again, “has almost no symptoms.”

3. Tesla wants to split its shares so that it can pay dividends on its shares

Elon Musk, founder and chief executive officer of Tesla Motors, will speak at a media tour of the Tesla Gigafactory, which manufactures batteries for electric vehicle manufacturers in Spark, Nevada.

James Glover II | Reuters

Tesla said it would like to split its shares so that it could pay dividends to shareholders, according to the Securities and Exchange Commission filed Monday. Tesla’s stock surged 5.5% in front of the market. Equities have more than doubled since the last split — 5-1 to 1 split — August 2020. Tesla’s stake is struggling in 2022 after gaining nearly 50% last year and about 740% in 2020.

Musk said in a tweet on Saturday that he was “seriously thinking” about building a new social media platform. Tesla and SpaceX billionaires commented the day after Twitter claimed they didn’t allow freedom of speech. Freedom of speech did not immediately respond to CNBC’s request for comment.

4. Russia-Ukraine negotiates to continue; US retreats Biden’s comment

A severely damaged building after a bombardment in the Vitryani Hory area of ​​Kyiv, Ukraine, on March 27, 2022.

Andres Gutierrez | Anadolu Agency | Getty Images

Negotiations between Ukraine and Russia are expected to continue this week, with officials from both countries traveling to Turkey hoping to ease the conflict. Meanwhile, Moscow said in a Saturday statement by President Joe Biden that Russian leader Vladimir Putin was wary of “unable to maintain power.” The White House later receded Biden’s comments, stating that the administration did not seek a change of power in Russia. Instead, the president mentioned Putin’s attempt to exercise power over the European continent.

5. Biden Proposing “Billionaire Minimum Income Tax”

US President Joe Biden will speak at the afternoon General Assembly of the National Cities Federation’s Parliamentary City Conference on March 14, 2022 at Marriott Marquis, Washington.

Sarah Sylbiger | Reuters

According to a document obtained by CNBC, Biden is expected to propose a new minimum tax primarily for millionaires when it announces its budget for 2023. According to the document, the proposed tax is expected to reduce the deficit by about $ 360 billion over the next decade.

— CNBC Reporter Tanayama seal, Vicky McKee Bar, Fred Invert, Sam Shead, Chloe Taylor, Michelle Fox When Kayla tausche Not only Reuters, but also contributed to this report.

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