5 things to know before the stock market opens on Tuesday 8 November
Traders work on the floor of the New York Stock Exchange.
Here are the most important information investors need to start their trading day:
1. Stocks on edge
Major U.S. indices are looking to post a third consecutive positive session on Tuesday. On Monday, the Dow Jones Industrial Average advanced 423.78 points, or 1.31%. The S&P 500 rose 0.96% and the Nasdaq Composite gained 0.85%. But whether the market can add to those gains this week will largely be determined by the outcome of the US midterm elections and whether Republicans take control of Congress.
2. On the way to the polls
A voter marks his ballot during early voting at the Lansing City Clerk’s office ahead of the midterm elections in Lansing, Michigan, U.S., November 7, 2022.
Evelyn Hockstein | Reuters
3. Disney revenue on deck
Magic Kingdom at Disney World in Orlando, Florida.
Joe Raedle | Getty Images News | Getty Images
disney is expected to release its fiscal fourth quarter results after the market close on Tuesday, giving investors the latest insight into the media giant’s streaming strategy. Wall Street will be looking for Disney+’s core growth and any additional details on an ad-supported next tier. CEO Bob Chapek has established closer ties to the company’s many diverse businesses, and investors will seek commentary on the impact of macro trends on theme parks, advertising and consumer spending. The company will host a quarterly earnings call at 4:30 p.m. ET.
4. Nuclear tensions
White House National Security Advisor Jake Sullivan speaks during an interview at an Economic Club of Washington event in Washington, DC, U.S., Thursday, April 14, 2022.
Al-Draco | Bloomberg | Getty Images
The United States confirmed on Monday that it had held talks with Russia aimed at reducing the nuclear threat against Ukraine. White House National Security Adviser Jake Sullivan, speaking at an event at the Economic Club in New York on Monday, repeatedly said that the United States had “channels to communicate with the Russian Federation at the levels superiors,” according to Reuters. Russia illegally annexed four regions of Ukraine in September, and concerns are growing that the Kremlin could use nuclear weapons to maintain control of those areas. Follow all of CNBC’s live updates on the war in Ukraine here.
5. Record bet
Jim McIngvale throws out the first pitch before Game 6 of the 2022 World Series at Minute Maid Park on November 05, 2022 in Houston, Texas.
Carmen Mandate | Getty Images
Jim “Mattress Mack” McIngvale, a 71-year-old furniture salesman from Texas, bet $10 million on the Houston Astros to win the World Series this year. With the Astros’ win on Saturday night, McIngvale landed a record $75 million payout – and cost Caesars and Penn Entertainment. Both companies warned that the payment could hurt their booming digital businesses and push them into the red for the current quarter. Still, Ken Fuchs, chief operating officer of Caesars Digital, said on Saturday after the Astros’ victory that the gamble was worth it: “What can we say? We just wrote the biggest check in sports betting history to Mattress Mack for $30,000,000. to start all over? You bet. “
– CNBC’s Carmen Reinicke, Dawn Kopecki, Holly Ellyatt, Contessa Brewer and Jessica Golden contributed to this report.
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