5 things to know before the stock market opens Friday

[Pelican Press 0]

5 things to know before the stock market opens Friday

Here are the most important news items that investors need to start their trading day:

1. Another one

Stocks notched a strong day ahead of Friday’s jobs report. The S&P 500 notched a record close on Thursday, while the Nasdaq Composite hit a fresh high during the session. February jobs numbers, and what they mean for monetary policy, will be the market catalyst on Friday. A strong earnings season has helped to buoy stocks. Entering the week, the vast majority of the S&P 500 had reported fourth-quarter results, and earnings had jumped 9.8% from last year and come in 6.2% above expectations. Follow live market updates here.

2. Steady job market

3. Patient Powell

The Fed has not moved to cut interest rates as quickly as investors wanted. Even so, the day may be coming soon, the central bank’s Chair Jerome Powell said Thursday. He told a Senate committee that the Fed is “not far” from being able to ease policy. Powell said the Fed wants to be more confident inflation is “moving sustainably” at its target of 2%. While price increases have eased in recent months, the consumer price index rose by a higher-than-expected 3.1% year over year in January.

4. Novo leapfrogs Tesla

Novo Nordisk is continuing its climb to establish itself among the most valuable companies in the world. The Danish drugmaker’s stock hit a record on Thursday after the release of promising data on an experimental weight loss pill. With the jump, its market cap surpassed $600 billion, and it topped Tesla as the 12th most valuable company in the world. The ***** in demand for its weight loss and diabetes drugs may only continue in the years ahead. And at least one U.S. insurer — Cigna — is working to make the treatments easier to access.

5. Speed grocers

Major grocers are racing each other to get orders to customers’ doors. Walmart, Target and Kroger are all emphasizing fast home grocery delivery as part of new or existing subscription services. In an increasingly competitive grocery market, the major retailers are all trying to win shoppers with convenience and spur more frequent orders. Walmart is the largest U.S. grocer by market share, and Kroger is second. Target, in ninth place, sees its new paid membership option as once way to drive more sales in the space.

– CNBC’s Pia Singh, Robert Hum, Jeff Cox, Karen Gilchrist, Annika Kim Constantino and Melissa Repko contributed to this report.

— Follow broader market action like a pro on CNBC Pro.

This is the hidden content, please

• Sign In
• or
• Sign Up

Investment strategy,Economy,Markets,Business,S&P 500 Index,NASDAQ Composite,Walmart Inc,Target Corp,Kroger Co,business news
#stock #market #opens #Friday

This is the hidden content, please

• Sign In
• or
• Sign Up