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5 Things You Need To Know Before The Stock Market Opens On Tuesday, June 8th



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

1. The S&P 500 is set to run at record highs from last month

Traders on the floor of the New York Stock Exchange.

Source: NYSE

US stock futures turned positive on Tuesday, with the S&P 500 set to break a record high from last month, despite a slight decline on Monday. The Dow Jones industrial average, which also fell on Monday, was still less than 1

% from its record close in May. Nasdaq started the week with a modest profit, putting the heavy technology index below 2% of its record at the end of April.

Shares of Meme continued their rally in the preliminary market on Tuesday, led by the advance of AMC Entertainment by 5%. Shares of the cinema chain jumped nearly 15% on Monday after surpassing more than 80% last week. On Monday, the SEC said it was monitoring market volatility and promised to protect retail investors.

Shares of Tesla, which fell 10% in the past month, recovered 3% in the preliminary market on Tuesday after the electric maker said it had delivered 33,463 Chinese cars to that market in May. This is 29% more than in April, when production was affected by the suspension of maintenance.

2. New sites, including the New York Times, restored after a break

The hiatus, which toppled many websites on Tuesday morning, was mostly fixed and the leg in US stock futures evaporated. Reddit and global news websites, including the Financial Times, The New York Times and Bloomberg, were shut down, with some users unable to access those sites early Tuesday. Most of them were online again after a problem with the Fastly content delivery network. Shortly before 7 a.m. ET, Fastly said on its website that “the problem has been identified and corrected.” Fastly shares fell about 2% in pre-trading.

3. Bitcoin slips 7% after US confiscates most of ransom for colonial pipeline

Bitcoin logo shown on a smartphone with stock market percentages in the background in this illustration, made on April 26, 2021.

Omar Marquis SOPA Photos LightRocket | Getty Images

Bitcoin fell more than 7% to below $ 33,000 on Tuesday. Although the reason for the relocation was unclear, it may be related to cryptocurrency concerns after U.S. officials were able to recover most of the ransom paid to hackers targeting Colonial Pipeline. Court documents say investigators had access to the password for one of the hacker’s bitcoin wallets.

Storage tanks at a Colonial Pipeline Inc. facility. in Avenel, New Jersey, on Wednesday, May 12, 2021.

Mark Kauzlaric Bloomberg | Getty Images

Colonial Pipeline CEO Joseph Blount will testify before the Senate Homeland Security Committee on Tuesday. He is expected to face questions about the company’s response to the cyberattack and its decision to allow the payment of a $ 4.4 million ransomware.

4. The White House will present plans to strengthen critical supply chains

President Joe Biden spoke on the May Jobs Report on June 4, 2021 at Rehoboth Beach, Delaware, a convention center.

Jim Watson AFP | Getty Images

The Biden administration is set to announce a series of steps designed to strengthen critical U.S. supply chains on Tuesday, building domestic production capacity for key products and tackling existing vulnerabilities. The report’s initial recommendations focus on four products that are critical to the US economy: high-capacity lithium batteries, rare earth minerals, semiconductors and active pharmaceutical ingredients.

5. Apple demonstrates confidentiality when updating software at a developer conference

Apple unveiled new versions of its operating systems on Monday, which showed that the company’s focus on privacy has taken a new turn. This is no longer just a corporate ideal or a marketing point. Now this is a major initiative of Apple, which distinguishes its products from the competition of Android and Windows. In addition to privacy, Monday’s announcement at Apple’s World Developer Conference includes support for FaceTime for Windows and Android and a redesign of iMessage that turns reported photos into galleries.

“Reuters contributed to this report.” Follow all market actions as a professional CNBC Pro. Get the latest on the pandemic with CNBC coronavirus coverage.


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