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Home / Business / 5 things to know before the stock market opens November 13, 2019

5 things to know before the stock market opens November 13, 2019



1. Dow to fall when US-China concerns creep back

Traders are working on the floor of the New York Stock Exchange (NYSE) on August 23, 2019 in New York City.

Eduardo Munoz Alvarez | Getty Images

U.S. stock futures pointed to about a 100-point fall for the Dow Jones Industrial Average at Wednesday's Wall Street opening. Dow closed unchanged Tuesday for the first time in 5½ years. Nasdaq closed on record. The S&P 500 made a small profit, but failed to close on another high. The government said on Wednesday morning that consumer prices in October increased more than expected. On the trade front, President Donald Trump said Tuesday that a "significant phase-one" agreement with China "could happen soon." However, the Wall Street Journal reports that questions about what the United States has agreed on tariffs will be an obstacle.

2. Fed Powell Witnesses After Trump Released

Federal Reserve Chairman Jerome Powell Speaks During a Washington Conference on Wednesday, October 30, 2019.

Susan Walsh | AP

Federal Reserve Chairman Jerome Powell joins the Congress Joint Economic Committee on Wednesday to talk about the economy, a day after Trump continued to bash Powell and his fellow central bankers. In Tuesday's address to the Economic Club in New York City, the president said other nations have negative prices, but the Fed "won't let us play the game." Trump added, "Give me some of that money. I want some of that money." Powell goes before the House Budget Committee on Thursday.

3. Kudlow suggests "Tax Cuts 2.0" for the middle class

Larry Kudlow, director of the US National Economic Council, speaks during a Bloomberg Television interview outside the White House in Washington, DC, USA, Friday 2. August. , 2019.

Andrew Harrer | Bloomberg | Getty Images

Trump's economic adviser, Larry Kudlow, hinted at a middle-class tax cut as the president searches for an advantage in his 2020 re-election. In just over a year until voters decide whether Trump gets another term in the White House, the director of the National Economic Council said: "The president has asked me to pursue something called Tax Cuts 2.0." However, it is doubtful that a Democrat-controlled House, which is conducting an investigation by the President, would pass such a tax cut.

4. House to hold first public Trump impeachment hearing

House Intelligence Leader Adam Schiff, D-CA

Saul Loeb | AFP | Getty Images

Democrats are holding their first public hearing on Wednesday, which will be televised, in their Trump investigation, centered on the president pushing Ukraine to probe rival Joe Biden. Republicans, chaired by the intelligence committee of Trump-allied Rep. Devin Nunes, plans to claim that none of the witnesses who are called have firsthand knowledge of the president's actions. Republicans are also expected to say that Ukraine never felt pressured and that military aid, which was held up for other reasons, eventually flowed.

5. Google to Bank Check with Accounts Next Year

Google CEO Sundar Pichai speaks during the signing ceremony and pledged Google to expand information technology education at El Centro College in Dallas, Texas, October 3, 2019.

Brandon Wade | Reuters

Alphabet & # 39; s Google will offer checking accounts next year, according to a source familiar with the company's plans, which represent Big Tech's boldest move yet in consumer banking, as most have focused on credit cards and payment platforms. The accounts for the project will be run by Citigroup and Stanford Federal Credit Union. The Wall Street Journal first reported the offer. Previous attempts by Apple and Facebook encountered obstacles.

CNBC before the clock update

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– The Associated Press contributed to this report.


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