5 Things You Should Know Before the Stock Market Opens
Here are the most significant news articles that investors should know before starting their trading day:
Rate cut comedown
Gloom gathers over Google
1. Rate cut comedown
2. ‘Powerful forces’
Jamie Dimon is not buying the euphoria that sent markets skyrocketing at the close of last year. JPMorgan Chase CEO believes it’s “a mistake to assume that everything’s hunky-dory.
” He stated that “very powerful forces” like as Russia’s invasion of Ukraine, Israel’s conflict with Hamas, strikes on the Red Sea that have disrupted shipping routes, and quantitative tightening by the Fed pose hazards to the economy this year and next.
Dimon earlier warned of a “hurricane” impending in 2022, owing in part to Ukraine and the Fed’s pullback on economic stimulus efforts.
3. Gloom gathers over Google
Sundar Pichai, CEO of Google, informed staff in a memo Wednesday that the company plans to lose more jobs this year. The move comes amid a wave of cost-cutting measures at the corporation, which aimed to shed 12,000 jobs, or 6% of its full-time workers last year.
Pichai informed employees that the business will not lose as many people as it did last year, and that layoffs “will not touch every team.”
He stated that Google needs to cut costs to invest in “big priorities” such as AI. He said, “The reality is that to create the capacity for this investment, we have to make tough choices.”
4. Apple improvises
Apple circumvented a potential prohibition on selling its latest Watch models in the United States. The business will delete blood oxygen readings from versions of its Apple Watch Series 9 and Ultra 2, which will go on sale on Thursday.
Apple updated the device as part of an ongoing patent dispute with medical equipment startup Masimo over the blood oxygen sensor.
Pending an appeal of an International Trade Commission order banning the import and sale of watches featuring the technology, “Apple is taking steps to comply with the ruling while ensuring customers have access to Apple Watch with limited disruption,” a representative said.
5. Leaning out
Sheryl Sandberg is departing Meta’s board. Sandberg, a major figure in the social media company’s rise to prominence and the years-long backlash over misinformation and hate speech, was chief operating officer from 2008 to 2022 and a member of its board since 2012.
Sandberg wrote in a Facebook post, “With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May.”