5 things to know before the stock market opens Tuesday, June 28

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

1. Stocks try to bounce

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

NYSE

Futures rose Tuesday morning After stocks failed to attempt to maintain their rally on Monday. Investors are still weighing the risks of hyperinflation as interest rates rise and more people start to fear a possible recession. Investors will have more economic data to consider as well. The June consumer confidence report is due at 10 AM ET on Tuesday, while the S&P Case-Shiller is due to report on the rate of home price growth in April.

2. Big banks and profits

Jamie Dimon, CEO of JP Morgan, listens while being presented at the CEO’s Club Luncheon at Boston College in Boston, Massachusetts, US, November 23, 2021.

Brian Snyder | Reuters

Many Wall Street Banks raised profits After passing the Federal Reserve’s annual stress tests. Wells Fargo And the Goldman Sachs He announced two of the largest increases – 20% and 25%, respectively. However, there are two other great names, City Group And the c. B. Morgan Chase, decided to keep its profit levels steady, despite passing a stress test. “We will continue to use our capital to invest in and grow our market-leading businesses, drive sustainable dividends and will retain capital to fully meet our future regulatory requirements,” JPMorgan CEO Jamie Dimon said in a statement.

3. Lagarde on recession fears

European Central Bank President Christine Lagarde could indicate that the Governing Council is leaning towards ending net purchases in the first part of the third quarter.

Michael Probst | pool | Reuters

Europe, destabilized by the Russian war on Ukraine, faces a slowdown in growth and an energy crisis. But European Central Bank leader Christine Lagarde is trying to calm fears About a possible recession this year in the eurozone. “We have significantly lowered our forecast for growth in the next two years,” she said on Tuesday. “But we still expect positive growth rates due to domestic reserves against a loss of growth momentum.” Lagarde also said the central bank would raise interest rates faster, if necessary, to curb inflation.

4. JetBlue raises its offer again

LaGuardia International Airport, Terminal A of JetBlue Airways and Spirit in New York.

Leslie Josephs | CNBC

The Jet Bluespiritborder The saga is heading to its climax this week. Spirit shareholders are due to vote on Frontier’s takeover bid of the discount airline on Thursday. However, JetBlue isn’t ready to throw in the towel just yet. Jet Blue Boost your bid price For Spirit again Monday night, days after Frontier improved its offering and Spirit’s board of directors said it would prefer a merger with Frontier. Either combination would create the fifth largest airline in the United States

5. Nike beats, but challenges remain

People walk in front of a Nike Inc sporting goods retail store at a shopping complex in Beijing, China, March 25, 2021.

Florence Low | Reuters

nike Published quarterly earnings and returns on Monday that Exceeding Wall Street Expectations Even as the company grapples with soaring inflation in the US, a war-ravaged European market and tight Covid-19 lockdowns in China. However, investors are not impressed. Nike shares fell in pre-market trading. The athletic footwear and apparel maker said it was still dealing with significant supply chain problems, including longer shipping times and higher transportation costs.

CNBC’s Yoon Lee, Silvia Amaro, Heo Sun, Leslie Josephs and Melissa Rybko contributed to this report.

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