Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on November 10, 2022.
Brendan McDermidt | Reuters
Here are the most important news for investors to start their trading day:
Wall Street is looking to bounce back after Monday’s rout as investors took note of protests in China against the government’s tough anti-Covid measures. China’s economy is already in fits and starts due to President Xi Jinping’s “zero Covid” policy, which relies heavily on mass quarantines, and mass unrest will create a new level of uncertainty for the nation of 1.4 billion people and global markets. . This week, investors are preparing to digest a new wave of earnings reports (Hewlett Packard Enterprise reports after hours on Tuesday) and the November jobs report, due Friday. Read live market updates Here.
2. Musk vs Apple
SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with renowned game designer Todd Howard (not pictured) at the E3 gaming conference in Los Angeles, California, June 13, 2019.
Mike Blake | Reuters
Now Elon Musk wants to take over Apple. Owner of Twitter he tweeted on Monday The iPhone maker has threatened to pull its social media app from its App Store, which, if it happens, will kill one of Twitter’s main distribution channels. Apple declined to comment on Musk’s claims. For all his talk of free speech and censorship, Musk’s main gripe with Apple may be more about money than expression. The billionaire also took aim at Apple’s policy that requires app makers to give the company a 15% to 30% cut of digital goods sold through their apps. Keen to find a source of revenue for Twitter as advertising dollars dry up, Musk wants to charge Twitter subscription fees for certain services.
3. Disable Disney Sticks Hiring
Disney World’s Magic Kingdom in Orlando, Florida.
Joe Radle | Getty Images News | Good pictures
Monday Bob Iger returns to Monday Disney A lot in Burbank, California His first town hall since his reinstatement CEO just a week ago. He spent much time focusing on the company’s culture, which many at Disney felt suffered under previous CEO Bob Chabeck, and touted its creative powers. But Iger also talked about risky moves that could affect the company’s day-to-day operations. Iger said Disney would maintain the hiring freeze enforced by Chabeck, and he would take a good look at the company’s cost structure. In a cost-cutting memo he sent days before his ouster, Sabek had indicated layoffs would be part of the process. Now Iger holds that call, creating great goodwill among employees.
read more: Iger, ‘Don’t Say Gay’ Fallout, Addresses Importance of LGBTQ Inclusion
4. BlockFi files for bankruptcy
Another bites the dust. BlockFi on Monday The latest crypto company has been busted, the fallout of FTX’s failure spreads. The company has already halted withdrawals and warned FTX and sister trading firm Alameda Research about its exposure. BlockFi’s bankruptcy filing on Monday indicated that it owes FTX US $275 million in debt. Previously valued at $4.8 billion, BlockFi avoided bankruptcy in July with the help of a $400 million revolving credit facility from FTX, whose founder, Sam Bankman-Fried, styled himself a crypto white knight. That Everything collapsed However, earlier this month, FTX filed for bankruptcy.
5. The cold truth of Ukraine
Russian vehicles and tanks are destroyed on Mykhailivska Square in Kyiv, Ukraine on November 19, 2022. A recent wave of Russian missile and drone attacks has reportedly disabled nearly half of Ukraine’s energy infrastructure, requiring repairs as temperatures plummet.
Jeff J Mitchell | Getty Images News | Good pictures
It’s getting colder and colder in Ukraine this week, with temperatures forecast to drop below freezing this week as the country grapples with widespread blackouts and other infrastructure failures caused by Russian missile strikes. Now there is pressure on the US and the rest of NATO to provide arms to the battlefield and support Ukraine on the front line. “President Putin is trying to use winter as a weapon of war,” NATO Secretary General Jens Stoltenberg said on Tuesday, pledging to help Ukraine in the next few bitter months. Read live battle announcements Here.
— CNBC’s Sarah Min, Kiff Lesswing, Alex Sherman, Mackenzie Sigalos, Rohan Goswami, Lillian Rizzo and Holly Elliott contributed to this report.
— Follow broad market action like a pro CNBC Pro.