5 things to know before the stock market starts on Thursday, June 23rd

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

1. When Wall Street attempts another resurgence, stocks are set in a more open position

Traders work on the site of the New York Stock Exchange.

NYSE

The future of American stock Woke up on Thursday Dow Jones Industrial AverageThe S&P 500 And this Nasdaq All Below the edges In the near future. Over the past week, the S&P 500 has seen its worst weekly performance since March 2020, when the Govt epidemic was announced. Growing concerns on Wall Street about the recession are destroying stocks as a result of the Federal Reserve’s intense fight against inflation.

2. Powell returned to Capitol Hill after being told that a recession was possible

Federal Reserve Chairman Jerome Powell testifies before the Senate Bank, Housing and Urban Affairs Committee hearing on the “Half-Monetary Policy Report for Congress” on Capitol Hill, Washington, on June 22, 2022.

Elizabeth Front | Reuters

Chairman of the Central Bank Jerome Powell Returns to Capitol Hill on Thursday, the second day of his half-year testimony on monetary policy. He appeared before the House Financial Services Committee on Wednesday after the Senate Banks Committee was told that the central bank had a “solution” to curb inflation, which has been at an all-time high for 40 years. Powell told senators Wednesday that he believes the economy is strong now but has acknowledged it Recession can occur.

  • Money leaving stocks due to fears of a recession has recently accumulated in bonds, raising prices and lowering yields. The 10 year treasury revenue It was down just 3.1% on Thursday Low dose in almost two weeks. Benchmark yields peaked in 2011 at close to 3.5% last week.

3. United plans to temporarily reduce flights departing from Newark Airport

The United Airlines passenger plane lands at Newark Liberty International Airport in New Jersey on January 19, 2022.

Tayfun Coskun | Anatolic Agency | Getty Images

United Airlines Thursday a Temporary reduction About 50 domestic flights depart daily from its Newark, New Jersey, airport hub from July 1, to alleviate congestion and raise concerns about cancellations. Summer reductions are 12% on United’s 425 daily flights to Newark, one of the three major airports near New York City. The airline told Reuters the carrier would not leave the market with these changes. In the meantime, American Airlines Projects Should drop the service In September, Dubuque will lose all scheduled commercial flights to four US cities, including Iowa.

4. Big Oil summoned to White House for emergency gas price meeting

On June 22, 2022, in the South Court Auditorium at the Eisenhower Executive Office Building in Washington, DC, US President Joe Biden commented on efforts to reduce high gas prices.

Jim Watson | AFP | Getty Images

Major oil refineries in the United States Let’s meet On Thursday with US Energy Secretary Jennifer Granholm and other Python executives on how to reduce high gas prices to squeeze US consumers. The emergency meeting comes a day after President Joe Biden called for a federal gas tax holiday that appeared to be dead when he arrived on Capitol Hill. The meeting also follows the weeks-long attack on Biden Big Oil for reaping huge profits from the escalating fuel supply crisis caused by Russia’s occupation of Ukraine.

5. A few months after Russia’s currency collapse, it rose to a seven – year high

The Russian ruble is minted on April 28, 2022, in front of St. Basil’s Church in central Moscow.

Alexander Nemenov AFP | Getty Images

The Russian ruble rose to its level Strong positions since May 2015, Buying $ 1 on Thursday was 53.4 rubles, approximately 2% higher than the previous session. This is a world since the Russian currency fell to 139 against the dollar in early March, when the United States and the European Union began imposing unprecedented sanctions on Moscow in response to Moscow’s invasion of Ukraine. The Kremlin recently pointed to the shocking rise of the ruble as “evidence” that Western sanctions were not working.

– CNBC Peter Shagno, தனயா மச்செல், Sarah e, Pippa Stevens, Jeff CoxSam Meredith and Natasha Durak As well as Reuters contributed to this report.

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