5 things to know before the stock market opens Wednesday, May 11
Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stock futures rise ahead of key inflation report, after volatile session
Traders on the floor of the NYSE, May 10, 2022.
Source: NYSE
2. Surge in consumer prices last month seen moderating somewhat
Customers pushing shopping carts shop at a supermarket on April 12, 2022 in San Mateo County, California.
Liu Guanguan | China News Service | Getty Images
3. U.S. oil prices advance after two days of sharp supply concern losses
A customer refuels at a Chevron gas station with prices above $4 a gallon in Seattle, Washington, U.S., on Monday, March 7, 2022.
David Ryder | Bloomberg | Getty Images
A source of inflation in the economy has been oil prices and in turn record-high gasoline prices. West Texas Intermediate crude, the American benchmark, rose about 3.5% to $103 per barrel Wednesday after back-to-back sharp declines. The downturn in the two prior session was driven by supply concerns as the European Union works to gain support for a Russian oil embargo. A vote on the proposal, which needs unanimous approval, has been delayed as Hungary has dug in its heels in opposition.
4. Coinbase slumps after the crypto exchange turns in weak quarter
Coinbase signage in New York’s Times Square during the company’s initial public offering on the Nasdaq on April 14, 2021.
Robert Nickelsberg | Getty Images
5. Stablecoin UST, meant to be dollar pegged, plummets below 50 cents
— CNBC’s Hannah Miao, Samantha Subin, Sarah Min, Patti Domm, MacKenzie Sigalos and Ryan Browne as well as Reuters contributed to this report.
— Sign up now for the CNBC Investing Club to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.
Here are the most important news, trends and analysis that investors need to start their trading day:
1. Stock futures rise ahead of key inflation report, after volatile session
Traders on the floor of the NYSE, May 10, 2022.
Source: NYSE
2. Surge in consumer prices last month seen moderating somewhat
Customers pushing shopping carts shop at a supermarket on April 12, 2022 in San Mateo County, California.
Liu Guanguan | China News Service | Getty Images
3. U.S. oil prices advance after two days of sharp supply concern losses
A customer refuels at a Chevron gas station with prices above $4 a gallon in Seattle, Washington, U.S., on Monday, March 7, 2022.
David Ryder | Bloomberg | Getty Images
A source of inflation in the economy has been oil prices and in turn record-high gasoline prices. West Texas Intermediate crude, the American benchmark, rose about 3.5% to $103 per barrel Wednesday after back-to-back sharp declines. The downturn in the two prior session was driven by supply concerns as the European Union works to gain support for a Russian oil embargo. A vote on the proposal, which needs unanimous approval, has been delayed as Hungary has dug in its heels in opposition.
4. Coinbase slumps after the crypto exchange turns in weak quarter
Coinbase signage in New York’s Times Square during the company’s initial public offering on the Nasdaq on April 14, 2021.
Robert Nickelsberg | Getty Images
5. Stablecoin UST, meant to be dollar pegged, plummets below 50 cents
— CNBC’s Hannah Miao, Samantha Subin, Sarah Min, Patti Domm, MacKenzie Sigalos and Ryan Browne as well as Reuters contributed to this report.
— Sign up now for the CNBC Investing Club to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.