5 things to know before stock markets open on Wednesday, December 21

Spread the love



Traders work on the trading floor of the New York Stock Exchange (NYSE) on December 14, 2022 in New York City, USA.

Andrew Kelly | Reuters

Here are the most important news for investors to start their trading day:

1. A glimmer of holiday cheer

Stocks were down slightly on Tuesday, but enough to spark faint hopes of a Santa Claus rally. Three major U.S. indexes snapped a four-day session of losses, and there may be a chance for a better performance on Wednesday following two big earnings reports that lifted investor spirits. FedEx Earnings fell short of Wall Street’s forecasts, but Income came above them. Nike, meanwhile, is easily beating estimates as it moves forward in its merchandise clearance efforts (more on that below). Investors also visited Latest mortgage application data Wednesday. Read live market updates Here.

2. The NFL Sunday Ticket deal is just around the corner

NFL Commissioner Roger Goodell during the NFL football game between the Miami Dolphins and the Indianapolis Colts at Hard Rock Stadium on October 3, 2021 in Miami, FL.

Andrew Bershaw | Icon Sportswire | Good pictures

National Football League Commissioner Roger Goodell said he expects the league to reach an agreement on its Sunday ticket rights in the fall. Well, after months of talks between the NFL and Apple, Amazon And others, the calendar is about to change from autumn to winter, it seems We can make a deal. The NFL was close to signing a deal with, as of Tuesday night GoogleYouTube TV to carry games package. The terms of the deal were still being ironed out. DirecTV has paid $1.5 billion for Sunday Ticket every year since 2015. The NFL is looking for a buyer willing to pay $2 billion to $3 billion.

3. Nike makes inventory improvements

People wearing protective masks walk past a closed Nike store on 5th Avenue during the coronavirus disease (COVID-19) outbreak in New York City, May 11, 2020.

Mike Shekhar | Reuters

Nike continued its earnings high with a stellar report on Tuesday It easily beat Wall Street’s expectations. The sportswear maker and retailer upgraded its earnings outlook while posting improved inventory numbers from the previous quarter. Nike, like other retailers, has been plagued by supply chain disruptions, so inventories are still higher than they were a year ago and margins are being squeezed. But some aggressive clearance work, including a major shift of products to wholesale channels, helped Nike feel like it was past the peak of its inventory woes. Shares of the company rose in after-hours trading.

4. SPF in Motion

FTX co-founder Sam Bankman-Fried was arraigned Monday, December 19, 2022, at the Magistrate’s Court in Nassau, Bahamas.

Tristan Wheelock | Bloomberg | Good pictures

The accused fraudster was Sam Bankman-Fried Returned to America, this time for real. The disgraced founder of bankrupt crypto firm FTX has agreed to stop fighting extradition to the Bahamas as he faces multiple federal charges in the US, including fraud and conspiracy. Bankman-Fried, also known as SBF, returns to US soil after days of courtroom chaos in the Bahamas, where the former billionaire ran a now-collapsed crypto empire. Prosecutors allege he used $8 billion in client assets to buy real estate and stadium naming rights while making large political donations. If convicted, Bankman-Fried faces decades in prison.

5. Mr. Zelenskyy goes to Washington

Ukrainian President Volodymyr Zelensky speaks by phone with US President Joe Biden on December 11, 2022 in Kiev, Ukraine.

Ukrainian Presidential News Service | Reuters

Volodymyr Zelenskyy is coming to America. The Ukrainian president’s trip to Washington DC on Wednesday was his first known trip outside his country since Russia launched an unprovoked invasion in February. Zelenskyy’s visit coincides with Congress’ last major business of the year, the $1.7 trillion funding bill, which includes $44 billion in aid to Ukraine. The Ukrainian leader is expected to meet with President Joe Biden at the White House and address a joint session of Congress. The development comes after Dmitry Medvedev, a top lieutenant of Russian President Vladimir Putin, made a surprise trip to Beijing to meet Chinese President Xi Jinping. Read live battle announcements Here.

– CNBC’s Tanaya Maciel, Alex Sherman, Lillian Rizzo, Gabrielle Fonrouge, Rohan Goswami, Mackenzie Sikalos and Holly Elliott contributed to this report.

Follow broad market action like a pro CNBC Pro.


Source link

Leave a Comment