Investors should be aware of these five key developments before the trading day begins, APA reports citing CNBC.
Here are five key things investors need to know to start the trading day:
1. Settling in
Stock futures were slightly lower in premarket trading Tuesday after the major averages posted modest gains on Monday. The S&P 500 rose just 0.09% during the first trading session of the week, notching a six-day win streak. The Dow Jones Industrial Average gained about 0.32%, and the Nasdaq Composite eked out a 0.02% gain. On Tuesday, several Federal Reserve officials are set to speak on policy. Follow live market updates.
Home Depot said it wouldn’t raise prices due to tariffs. “Because of our scale, the great partnerships we have with our suppliers and productivity that we continue to drive in our business, we intend to generally maintain our current pricing levels across our portfolio,” CFO Richard McPhail told CNBC’s Melissa Repko. It’s a notable divergence from retail giant Walmart, and could set up a larger shakeout for the industry in terms of who responds to President Donald Trump’s tariffs — and how. Home Depot reaffirmed its full-year guidance on Tuesday and reported mixed results for the first quarter.
JPMorgan CEO Jamie Dimon thinks the markets are too complacent in the face of geopolitical and macroeconomic risks. “You all think they can manage all this. I don’t think they can,” he said Monday. “My own view is people feel pretty good because you haven’t seen effective tariffs. …The market came down 10%, [it’s] back up 10%. That’s an extraordinary amount of complacency.” Dimon’s comments came during the bank’s investor day, in which he also touched on bitcoin, saying JPM would allow customers to buy the cryptocurrency, despite his personal skepticism.
CBS News CEO Wendy McMahon is out at the news network after disagreements with Paramount Global leadership. McMahon announced her departure Monday, saying, “It’s become clear that the company and I do not agree on the path forward. It’s time for me to move on and for this organization to move forward with new leadership.” CNBC’s Alex Sherman reports McMahon’s exit wasn’t entirely of her own volition: Paramount Global CEO George Cheeks asked for McMahon’s resignation following several points of tension between McMahon and Paramount controlling shareholder Shari Redstone.
Mortgage rates are back above 7% after a Moody’s downgrade of the U.S. credit rating that sent ripples through the bond market. The rate on the 30-year fixed mortgage hit 7.04% Monday, its first time above the threshold since mid-April. Back then, the higher rates had a direct impact on the usually busy spring housing market, with many buyers pulling back.
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