February 7, 2023

NORDchinaz

The Business & Finance guru

5 things to know before the stock market opens Wednesday

Traders work on the floor of the New York Stock Exchange (NYSE) on November 29, 2022 in New York City.

Spencer Platt | Getty Images

Here are the most important news items that investors need to start their trading day:

1. Rate hike watch

Federal Reserve Chair Jerome Powell is scheduled to speak at the Brookings Institution today, and investors will be listening for any clues on whether the central bank will slow or stop interest rate hikes. After four straight 0.75 percentage point increases to tame high inflation, many expect a smaller 0.5 percentage point increase at the Fed’s meeting next month. A pause in rate hikes, or a pivot, would likely send markets higher. Stock futures were up ahead of Powell’s speech and as the market awaited other economic data expected Wednesday, including the ADP private payrolls report and the Job Openings and Labor Turnover Survey.

2. Tesla’s market share shrinks

Visitors learn about a Tesla model S at the auto exhibition area of the 5th China International Import Expo in Shanghai, China, November 7, 2022.

CFOTO | Future Publishing | Getty Images

3. Rail strike deadline ahead

CSX Transportation freight trains sit parked in a railroad yard in September during the initial threat of a potential freight rail workers union strike.

The Washington Post | The Washington Post | Getty Images

4. Kroger, Albertsons CEOs in the hot seat

Albertsons and Kroger supermarkets

Bridget Bennett | Bloomberg | Getty Images; Brandon Bell | Getty Images

5. Hope for BlockFi?

In this photo illustration, the BlockFi logo seen displayed on a smartphone.

Rafael Henrique | Sopa Images | Lightrocket | Getty Images