Tuesday, October 26, 2021

5 things you need to know before the stock market opens on Tuesday

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

1. Wall Street is trying to avoid a 3-session losing streak

Sellers on the New York Stock Exchange, October 6, 2021.

Brendon McDermid |

U.S. stock market futures were stable on Tuesday as bond yields rose and U.S. oil prices fell. West Texas Intermediate crude is still around a seven-year high of more than $ 80 a barrel. The 10-year Treasury yield rose to a June high of about 1.6%. Economists expect 10.9 million vacancies to be created by the end of August, which is unchanged from the record level at the end of July.

On Monday, the Dow continued its weakness on Friday, with job growth in September weakening more than expected. The average price of 30 shares, S&P 500 and Nasdaq, fell about 0.7% to start the week on concerns about how oil price hikes could affect the economic recovery from Covid. The Dow is down nearly 3.2% from a record close on Aug. 16. The S&P 500 fell nearly 3.9% from its September 2 record close. The Nasdaq fell about 5.8% from its Sept. 7 record.

2. House to vote on short-term debt agreement

The Capitol in Washington, DC, USA, on Wednesday, October 6, 2021.

Stephanie Reynolds | | Getty Images

The House of Representatives is scheduled to vote on Tuesday, sending the debt to President Joe Biden for signature. The $ 480 billion deal increase will allow the federal government to pay its bills by early December. This will clear the Senate last week through a partisan democratic vote. The Oct. 18 controversy ended when Senate GOP Chairman Mitch McConnell agreed to help overcome short-term growth. But he says he won’t do it again. McConnell wants Democrats from the delicate majority on Capitol Hill to act alone on the debt ceiling in the reconciliation process.

3. Southwest Airlines will cancel dozens of more flights

Travelers are expected to check in at the Southwest Airlines ticket office on October 11, 2021 at Baltimore Washington International Turgud Marshall Airport in Baltimore, Maryland.

Kevin Diets | Getty Images

Southwest Airlines has canceled 87 flights, or 2% of Tuesday’s schedule, after about 2,220 cancellations since Saturday. More than half of the cancellations took place on Sunday, destroying 30 percent of the southwestern daily schedule. In August, the airline shortened its schedule in hopes of rectifying the operational struggle in the summer, which led to dozens of cancellations on a regular basis. This weekend, there were speculations that the interruptions were due to the excessive number of calls from workers related to the Covid vaccine assignment. The Southwest said it was “uncertain” and “unfounded.”

4. The GOP governor of Texas is banning the mandate of the Covid vaccine

Gov. Greg Abbott is speaking at the annual National Rifle Association (NRA) convention in Dallas, Texas.

Lukas Jackson |

Texas Gov. Greg Abbott has issued a decree banning any organization, especially private businesses, from imposing coronavirus vaccination requirements on employees or customers. “The COVID-19 vaccine is safe, effective and our best protection against the virus, but should remain voluntary and never forced,” Abbott said in a statement. According to his order, this was caused by the Biden administration’s federal vaccine, which the Texas governor called federal overdose.

5. Jamie Dimon said he thinks “bitcoin is worthless”

JPMorgan Chase CEO Jamie Dimon speaks with the New York Economic Club in New York, Jan. 16, 2019.

Carlo Allegri |

Jamie Dimon is still skeptical of bitcoin. The CEO of JPMorgan was the world’s largest digi at a conference on Mondaytthe currency has no intrinsic value. “I personally think bitcoin is worthless,” Dimon said. “But I don’t want to be a press secretary for that. It doesn’t matter to me. It doesn’t matter to me. I don’t think you should smoke either.” Bitcoin, though lower on Tuesday, was above $ 57,000, which has not been observed since May. He recently held a rally. In October, Bitcoin rose about 30%. That hit a record high of near $ 65,000 in April, down from $ 30,000 this summer.

– and NBC News contributed to this report. Follow all the movements in the market like a professional Pro. Stay up to date with the latest news about the pandemic coronavirus coverage.

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