5 things to know before the stock exchange opens on Monday 27 June

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

Shares appear to be building on last week’s uptrend

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, USA, June 22, 2022.

Brendan Mcdermid | Reuters

US stock futures rose before the opening on Monday morning, as the stock markets seemed to continue the momentum from last week̵[ads1]7;s positive development. Since the S&P 500 entered a bear market earlier this month, the S&P 500 has risen by around 7.5%. However, it is still not clear whether the markets reached a bottom after this year’s dramatic decline, and investors will closely monitor economic indicators – including a monthly reading of durable goods at 8.30 ONE Monday and pending home sale at 10.00

2. Russia is on the verge of a debt default

Russian President Vladimir Putin participates in the opening ceremony of new health services in several regions of Russia, via video link in St. Petersburg, Russia June 18, 2022. Sputnik / Mikhail Metzel / Kremlin via REUTERS ATTENTION EDITORS – THIS PICTURE WAS PROVIDED BY A THIRD PARTY.

Mikhail Metzel | Sputnik | Reuters

The Russian government had around $ 100 million in debt payments due Sunday, the end of a deadline that began on May 27. There were reports that bondholders did not receive payments, as Western nations’ sanctions have affected Russia’s ability to use rubles, its sovereign currency, to make payments. This will mark Russia’s first standard since 1918, the year after the Russian Revolution.

3. The G-7, which aims to oppose Russia and China

US President Joe Biden will attend the first day of the G7 leaders’ summit in Bavaria’s Schloss Elmau Castle, near Garmisch-Partenkirchen, Germany, on June 26, 2022.

Lukas Barth | Reuters

Leaders of the group of seven nations are pursuing several new sanctions against Russia, including a ban on imports of Russian gold, while strengthening military and humanitarian aid to Ukraine. The G-7 also aims to limit the purchase prices for Russian oil. Countering China remains a priority for G-7 nations as well. On Sunday, leaders pledged $ 600 billion in private and public funds over five years to fund infrastructure in developing countries as China pursues its Belt and Road initiative, which is the nation’s bid to create a new version of the old Silk Road that connected Europe and Asia.

4. Tencent seeks to be foreign car manufacturers’ favorite for technology in China’s electric car market

BMW’s iX electric SUV in China was the first global car brand to include the car version of Tencent’s WeChat messaging app, according to the Chinese technology company.


Tencent, the massive Chinese Internet and technology company, recently unveiled a new cloud computing product for carmakers as it pushes to become the most important technology provider in its home country’s electric car market. Tencent is already working on around 40 car brands, including Germany’s BMW and China’s Nio, according to Liu Shuquan, vice president of Tencent Intelligent Mobility. He also said that his company cooperates with some American car manufacturers, but refused to say which ones.

5. Exxon Mobil’s CEO warns of an abrupt energy transition

Darren Woods, CEO, ExxonMobil

Michael Newberg | CNBC

Gas prices are already high, but they could go higher if society makes a rapid transition away from fossil fuels, according to CEO of oil giant Exxon Mobil. In an interview with CNBC’s David Faber, Darren Woods said that the government should instead create market-based incentives to reduce emissions. President Joe Biden and his administration have criticized Exxon Mobil and other oil companies for making money while fuel prices rise, while activists have cited Russia’s war in Ukraine, which changed the global energy supply chain, as a major reason why countries should move away from oil and gas in favor of renewable energy. Watch the full Faber documentary, “ExxonMobil at the Crossroads”, on YouTube, Peacock and

– CNBC’s Sarah Min, Matt Clinch, Elliot Smith, Evelyn Cheng and Reuters contributed to this report.

Register now for the CNBC Investing Club to follow Jim Cramers every stock move. Follow the broader market action like a pro CNBC Pro.

Source link

Back to top button