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The stock market has been in a slump this year, due to the global financial crisis and geopolitical tensions. But on Monday, the Dow Jones Industrial Average gained 165 points, or 0.8 percent, to close at 16,459, a new record high. Alphabet, the parent company of Google, was the biggest contributor to the gains. But it was a mixed day for stocks. Pinterest, the online pinboard site, fell more than 5 percent on its first day of trading. Also, a new virtual currency called Dogecoin has surged more than 400 percent in less than a week. It all comes as the stock market opens for the first time this week.
Alphabet, Pinterest, Mondelez, Dogecoin: These are just a few of the names that will start trading on the stock market today. Shares of Alphabet, the parent company of Google, are expected to rise by 5.5 percent when the market opens, thanks in large part to the company’s recent acquisition of a small but promising start-up. Pinterest is expected to rise by 4.7 percent after announcing the company’s intention to focus on monetizing its growing membership base. The two could have some help from Mondelez and Dogecoin, which are predicted to rise by 2.5 percent and 7.2 percent respectively.
Updated April 28, 2021 at 8:21 a.m. Eastern Time
Here’s what to look out for before the stock market opens Wednesday.
- U.S. stock futures surged as investors awaited news from the Federal Reserve on the economic recovery and earnings reports from major technology companies.
- Futures linked to the broad S&P 500 index were virtually unchanged, while futures on the Dow Jones Industrial Average fell 0.2 percent. Nasdaq-100 futures also fell 0.2%, indicating further weakness in technology stocks after they dragged down the broader indexes a day earlier. Read our full market overview here.
What now?
- The result must be derived from
Apple,
AAPL -0.24%.
Facebook,
FB 0.17
Qualcomm,
QCOM -0.68%.
MGM Resorts
MGM 1.76
и
Ford
F 1.79%
outside of working hours.
- At 2 p.m., the Federal Reserve will release its policy statement. EN and President
Jerome Powell.
is holding a press conference at 2:30.
Observing market movements
- Alphabet
GOOG -0.84%.
Shares rose more than 5 percent after Google’s parent company announced it will buy back $50 billion worth of shares, meeting the demands of investors interested in the company’s growing cash reserves.
- Shopify
LOAD -0.78%.
rose 5% after the e-commerce platform reported better-than-expected adjusted earnings for the first quarter, with revenue more than doubling from a year earlier.
PINS 1.11
The stock had fallen 12% before the call. The bulletin board company reported 78% year-over-year revenue growth in the first quarter, but user growth fell short of analyst expectations amid the easing of pandemic-related restrictions.
Pinterest user growth fell short of expectations last quarter.
Photo:
Gabby Jones/Bloomberg News
- Mondelez
MDLZ -0.09%.
rose 3% in premarket trading after the maker of Oreos and other food and beverage products reported better-than-expected profit and sales for the first quarter.
- capital one
COF 0.48%.
The company’s shares were up 2.2% before the conference call. The bank holding company, which specializes in credit cards, auto loans and bank and savings accounts, reported first-quarter earnings growth that exceeded analysts’ expectations.
- Visa
V -0.19%
rose 1.8% in OTC transactions, after recent results showed some recovery in pandemic-related spending.
- Starbucks
SBUX 0.20
The stock fell 1.7% in pre-trade. The coffee chain said it was operating more efficiently than before the pandemic and reported a sharp increase in quarterly sales.
- The cryptocurrency dogecoin rose 16% on Wednesday, trading at 32 cents. The rise came after Tesla CEO Elon Musk tweeted the Dogefather and mentioned his upcoming gig as host of Saturday Night Live.
Market data
- In recent days, companies that can participate in the New York Fed’s zero return repo facility have decided to ignore it and inject money. The Federal Reserve Bank of New York accepted $142.17 billion in overnight transactions Tuesday and $101 billion Monday.
- Iron ore reached record levels as a result of the booming steel market. Iron ore prices reached a level of $193.85 per tonne on Tuesday, according to daily prices published by S&P Global Platts. This figure surpassed the record of $193 per ton set in February 2011.
- On this day in 1942, World War II has reached its nadir: The Dow Jones Industrial Average closed at 92.92, down 0.97 points for the day and 16.3 percent for the year to date. In the next four years, the market more than doubled.
Timetable of the day
- Shares of a little-known technology company
MicroVision
MVIS -23.75
nearly doubled last week as retail investors flocked to stocks.
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Frequently Asked Questions
What are today’s markets?
As a investor, you need to know what the markets are doing to know if you should be holding stocks, bonds, or cash. The markets are made up of various markets. There is the U.S. markets, foreign markets, bond markets, and many more. The markets are constantly changing, and you need to stay on top of them to make sure you make the most out of your investments. If you’re paying attention to the stock markets, you’ll notice that today’s markets look pretty similar to yesterday’s, with a few exceptions: the price of Microsoft stock is up slightly, and the prices of Apple and Amazon are both down. In fact, the markets overall have been fluctuating quickly, between a high of $9,937.07 and a low of $9,831.51.
Do stocks go up when market opens?
“Do stocks go up when market opens?” is a question you hear from registered members of financial forums frequently. The answer is yes, stocks do go up when the market opens. This is the main reason that financial advisors always suggest that people invest early in the morning. It may seem strange but stocks are known to go up in the early morning hours. This is because the market is normally at its lowest when the market opens. Investors often look to the stock market’s performance when the markets open for the day as a barometer for how the rest of the trading day may go. For example, if the market rises when it opens, it may be a sign that overall trading will be positive for the day. Similarly, if the market falls when it opens, it is often a foreshadowing of poor trading throughout the day. However, the correlation between stocks going up when the market opens vs. the overall market is not always so strong.
Should we pull money out of stock market?
With the U.S. stock market having witnessed two days of consecutive declines, investors are beginning to question whether a correction is imminent or whether the market will continue to fall further. The state of the U.S. economy as well as the global economy has caused investors to rethink the wisdom of having their savings in the stock market. There is also the fear of another recession on the horizon, which makes the stock market a risky place to store money. Should we pull money out of stock market? I think so, because the volatility has been high, and it looks like the stock market could be heading downward. The stock market itself is a reflection of the overall economic environment, and when the economy is doing well, the stock market usually follows. And, it is not doing well. Although the stock market is up over the last 12 months, it is down over the last six months, and it is still down over the last three years. For an investor, the stock market can be a great place to grow wealth. But, it can also be a place that takes your wealth. So, pull your money out of the stock market, and put it somewhere safe like a money market
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