5 things to know before the stock market opens on Friday, February 10

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 1, 2023 in New York.

Michael M. Santiago | Getty Images

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

1. Tripping over the weekend

Stocks are on track for a losing week as we head into Friday’s session. Thursday was particularly weak for bulls as all three major indexes fell, led by a 1% drop in the high-tech Nasdaq. For the week, the Nasdaq lost 1.8%, while the S&P 500 was also down more than 1%. Low incomes continue to appear. Lyft, for example, has fallen more than 30% after business hours. Investors will learn more about the Federal Reserve’s strategy later on Friday with Fed Chair Christopher Waller and Philadelphia Fed President Patrick Harker speaking this afternoon. Read live market updates.

2. Disney’s dilemma with Hulu

3. Russia will cut oil production

Russia announced it would cut its oil production by 500,000 barrels per day in March after the West imposed ceiling prices on Russian oil and petroleum products.

Photo Alliance | Photo Alliance | Getty Images

Russia will cut oil production by 500,000 bpd in March, according to a senior government official. The move follows Western countries’ bans on Russian oil and oil products as Vladimir Putin’s troops continue their invasion of Ukraine. The cut in production is about 5% of Russia’s most recent crude oil production. Oil prices jumped on the news. Meanwhile, Russia continues air attacks on Ukraine, and Moldova said a Russian missile violated its airspace. Read live war updates.

4. Adidas Yeezy Hangover

“The numbers speak for themselves. We are currently not operating as we should,” Adidas CEO Bjorn Gulden said in a press release.

Jeremy Moeller / Contributor / Getty Images

5. PayPal CEO Pays Up

Dan Shulman, President and CEO of PayPal Holdings Inc., arrives for the morning session of Allen & Co. Media and Technology Conference in Sun Valley, Idaho, USA on Wednesday, July 10, 2019. The 36th annual event brings together many of America’s richest and most powerful people in media, technology and sports.

Patrick T. Fallon | Bloomberg | Getty Images

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