5 things to know before the stock market opens on Monday, April 4

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Wall Street looks stable; key treasury spreads remain inverted

Traders on the NYSE floor, March 31, 2022

Source: New York Stock Exchange.

U.S. oil prices jumped 3% on Monday, still around $100 a barrel, as supply concerns persisted due to disruptions due to Russia’s war in Ukraine. Oil did fall about 13% last week after the US announced it would release 1 million barrels a day from its Strategic Petroleum Reserve for six months starting in May to help fight rising energy prices.

2. Twitter shares soared after Elon Musk acquired a large stake in the social network

Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China, 29 August 2019.

Ali Song | Reuters

That’s a 9.2% stake worth $3.6 billion, based on premarket Twitter shares rising to over $49 a share. Although they were classified as a passive share in the application, investors offered shares of the company higher, hoping that this could lead to something more.

  • Over the weekend, Tesla reported first-quarter electric vehicle shipments of 310,048 units, slightly below estimates but up 67% from a year ago. Model 3 and Model Y vehicles accounted for 95% of the total vehicles in the first quarter. Deliveries are the closest approximation to the sales figures reported by Tesla.

3. Starbucks ends share buybacks as Howard Schultz returns as interim CEO.

Howard Schultz

Pier Marco Tacca | Getty Images

Starbucks shares fell about 4% after the coffee chain suspended its share buyback program. Howard Schultz, who is returning as interim CEO of Starbucks, sent a message to staff: “From now on, we are suspending our share buyback program. This decision will allow us to invest more profits in our employees and our stores – the only way to create long-term value for all stakeholders.”

  • Schultz currently runs the ship, his third tenure at the helm, Starbucks said it is looking for a permanent CEO after Kevin Johnson retires.

4. Jamie Dimon identifies three forces that can change the world

JP Morgan CEO Jamie Dimon speaks at the Boston College Executives Club Luncheon in Boston, Massachusetts, USA on November 23, 2021.

Brian Snyder | Reuters

5. Ukrainian President Volodymyr Zelensky accuses Russia of genocide

Ukrainian President Volodymyr Zelenskyy speaks during an address condemning what he calls the war crimes of Russian troops in communities around the Ukrainian capital as Russia continues its advance into Ukraine, in Kyiv, Ukraine April 3, 2022.

Press Service of the President of Ukraine | Reuters

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