5 things you should know before the stock market opens on Tuesday November 9th

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Here are the key news, trends, and analysis investors need to start their trading day:

1. Wall Street looks stable after making new highs ahead of major inflation data

A trader works on the floor of the New York Stock Exchange (NYSE) on November 8, 2021.

Brendan McDermid | Reuters

US stock futures were relatively flat on Tuesday, the day after the S&P 500 closed above 4,700 for the first time. The Dow Jones Industrial Average and Nasdaq also rebounded to record highs on Monday as industrial and materials stocks were buoyed by infrastructure legislation passed in the Senate late Friday. It is expected to be signed by President Joe Biden.

Investors receive inflation data for October this week, with the producer price index on Tuesday and the consumer price index on Wednesday. According to estimates, producer prices rose by 0.6% in October. Still, wholesale prices rose 8.6% year over year, the largest increase since records began.

2. GE is divided into 3 companies: aerospace, healthcare, energy

Employees use hand tools to assemble components of a LEAP engine at the General Electric Aviation facility in Lafayette, Indiana, July 19, 2019.

Luke Sharrett | Bloomberg | Getty Images

US industrial giant General Electric will split into three separate companies – aerospace, healthcare and energy – after years of lackluster stock performance. GE plans to outsource the health unit by early 2023 and the energy unit by early 2024, the company said in a press release. GE shares rose more than 7% in pre-trading hours following the announcement. The GE name will live on with the aviation company after the move is complete, and GE CEO Larry Culp will continue to lead that unit.

3. Bitcoin hits new all-time high of over $ 68,000 as cryptos expand the rally

In 2021, Bitcoin and Ether saw huge rallies. In April 2021, the cryptocurrency market topped $ 2 trillion for the first time.

Jaap Arriens | NurPhoto | Getty Images

Bitcoin and Ether hit new all-time highs on Tuesday before slightly reducing their profits as cryptocurrencies extended their rallies. Bitcoin, the world’s largest digital currency, topped $ 68,500. Ether, the # 2 cryptocurrency and the native currency of the Ethereum blockchain, jumped above $ 4,800 for the first time. So far this year, Bitcoin is up more than 130% and Ether is up about 550%. The ProShares Bitcoin Strategy ETF, which launched in October and tracks Bitcoin futures contracts, rose more than 8% on Monday and rose about 2% on the Tuesday before the market.

4. Roblox is rising with rosy results; PayPal falls due to lost sales

The Roblox logo that appears on a smartphone.

Rafael Henrique | SOPA Pictures | LightRakete | Getty Images

Roblox’s shares rose more than 25% in the premarket on Tuesday, the morning after the online gaming platform reported third-quarter results that impressed analysts. The service was unavailable between October 28 and October 31, a period that falls during the company’s fourth quarter. Roblox began trading on the New York Stock Exchange in March after a direct listing.

The PayPal app that appears on an iPhone.

Katja Knupper | DeFodi Pictures | Getty Images

PayPal shares fell more than 5% in the premarket on Tuesday, the morning after the payment company reported lower-than-expected third-quarter revenue and warned of the outlook. Adjusted earnings for the third quarter exceeded estimates. PayPal also announced it is partnering with Amazon to allow US customers to pay at the e-commerce giant’s checkout counter with its Venmo service starting in 2022.

5. AMC is losing less than expected, but CEO says challenges remain

Cars drive past AMC Metreon 16 theaters on August 10, 2021 in San Francisco, California.

Justin Sullivan | Getty Images

AMC Entertainment lost nearly 5% in pre-trading after its CEO said Covid challenges were still to come. The cinema operator posted a lower-than-expected loss in the third quarter and sales above estimates. The stock rose 8% in Monday’s regular meeting before the company released post-bell results. AMC said all of its domestic theaters and 99% of its international theaters were open on September 30th. Theaters around the world have been closed and restricted at various times during the pandemic. AMC was at the center of this year’s meme stock frenzy, rising more than 2.025% in height in 2021.

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