Here are five things you need to know on Monday, May 17th:
1.-Stock futures fall after a rough week on Wall Street
Stock futures fell on Monday as Wall Street ended a turbulent week driven by concerns about how rising inflation would affect the US recovery.
Contracts related to the Dow Jones Industrial Average fell 78 points, S & P 500 futures fell 7 points, and Nasdaq futures fell 32 points.
Friday’s stock price went up and closed Record this week’s loss With inflation concerns on Wall Street, I was worried that the Federal Reserve would push up near zero interest rates and start declining asset purchases sooner than it signaled.
The Dow fell 1.1% last week, the S & P 500 fell 1.4%, and the Nasdaq fell 2.3%.
From the Fed’s meeting in April this week, Wall Street will pay close attention to central bank price pressure thoughts and tips on when to start withdrawing support.
Treasury yields fell sharply to 1.618% on Monday, according to a report last week. US retail sales stagnated in April As the effects of government stimulus diminished, consumers cut spending during the pandemic’s decline.
2.-Calendar of the Week: FOMC Minutes and Wal-Mart Earnings
America Economic calendar Monday includes the Empire State Manufacturing Index at 8:30 EST in May and the NAHB Home Builders Index at 10 am in May.
Data on home launches, unemployed billing, and existing home sales are expected later in the week.
The Federal Reserve Board will release the minutes on Wednesday from its monetary policy-making body, the Federal Open Market Committee, April 27-28.
Earnings report from Wal-Mart is expected this week (((WMT)- Get the report, Home Depot (((HD)- Get the report, Loews (((Low)- Get the report, Cisco Systems (((CSCO)- Get the report, Macy’s (((M)- Get the report, Take-Two Interactive Software (((TTWO)- Get the report, Baidu (((BIDU)- Get the report, TJXCos. (((TJX)- Get the report, the goal (((target)- Get the report, Applied Materials (((AMAT)- Get the report, Coles (((KSS)- Get the report, Palo Alto Networks (((PANW)- Get the report, Deer (((DE)- Get the report, Foot locker (((FL)- Get the report And Lordstown Motors (((Ride)- Get the report..
3.-Elon Musk says Tesla does not sell Bitcoin
Elon Musk said Tesla has not sold its Bitcoin holdings.
Musk’s comment came after he wrote “certainly” on Twitter early Monday, and another user said, “When Tesla found out that he had thrown away the rest, Bitcoiner said in the next quarter. I’ll slap you. ” #Bitcoin Holding.With the amount of hatred @elonmusk No, I won’t blame him … “
Ambiguous tweets on Sunday mask It seems to be spurring a decline in Bitcoin, Ethereum, Dogecoin and other cryptocurrencies.
“Tesla does not sell Bitcoin to clarify speculation,” Musk said in a later tweet earlier on Monday.
Bitcoin, the world’s largest cryptocurrency, has finally fallen 7.16% on checks to $ 45,391, according to CoinDesk. It has fallen to $ 42,212 in the last 24 hours.
However, these declines were based on early declines that followed the sudden criticism of Mask for the power used digitally.Mining“Bitcoin, and after saying it last week Tesla does not take Bitcoin to pay for cars..
4.-AT & T in negotiations to combine media assets and discoveries
The journal said negotiations that are likely to value the AT & T business with debt of more than $ 50 billion could lead to an agreement by Monday, citing people familiar with the matter.
When the transaction report proves to be true, AT & T’s CNN, HBO, and Cartoon Network could soon be placed side by side with Discovery’s HGTV, Food Network, and Animal Planet.
Discovery CEO David Zaslav is expected to lead the new company, people familiar with the matter told the journal.
AT & T will spin off media assets within three years at Time Warner Inc. It will be a U-turn for the company that acquired the company.
“We will not comment on rumors or speculation,” said Fletcher Cook, a spokesman for AT & T. Sunday’s The Street for comments on the report.
5 .– Gates reportedly investigated before Microsoft left the board.
Microsoft member (((MSFT)- Get the report The board decides that it will need to resign from the tech giant’s board in 2020 as Bill Gates pursued an investigation into the founder’s previous romantic relationship with a Microsoft female employee who was deemed inappropriate. People familiar with the matter told The Wall Street Journal.
People said a law firm was hired to conduct an investigation in late 2019 after a Microsoft engineer claimed in a letter that he had had a sexual relationship with Gates for years.
During the investigation, some board members decided that it was no longer appropriate for Gates to sit on the board of a software company. Gates resigned before the board’s investigation was completed and before the entire board made a formal decision on the matter, another person familiar with the matter said.
Gates resigned from Microsoft’s board of directors on March 13, 2020, three months after being re-elected to the seat.
Gates and his wife Melinda announced earlier this month They had been married for 27 years..
Elon Musk and Bitcoin, AT&T and Discovery: 5 Things You Must Know Source link Elon Musk and Bitcoin, AT&T and Discovery: 5 Things You Must Know