Business

5 things to know before the stock market opens on Monday, October 3

Traders on the NYSE floor on September 30, 2022

Source: New York Stock Exchange.

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

1. New start or same problems?

Welcome to the fourth quarter. It’s been a tough year for equities and it doesn’t look like the luck in the markets will change dramatically, if at all, over the past three months. All three major indices ended a losing quarter and a losing month on Friday, with the Dow Jones closing below 29,000 for the first time since November 2020. All of them also suffered three unprofitable quarters in a row. Could things get even bleaker, at least for stocks? The economy is still in a hot state despite the Federal Reserve’s best efforts to cool it down with an aggressive rate hike plan. Read real-time market updates here.

Learn more from CNBC PRO: Q4 starts now and it’s not good for the economy

2. U-turn in the UK

British Prime Minister Liz Truss reads during a prayer and meditation service following the death of Britain’s Queen Elizabeth at St Paul’s Cathedral in London, UK, September 9, 2022.

Paul Childs | Reuters

3. Tesla shipments jumped

Tesla founder Elon Musk at Offshore Northern Seas 2022 in Stavanger, Norway on August 29, 2022.

Karina Johansen | NTB | via Reuters

4. Ukraine wins back a key city

Ukraine returns Liman, a key logistical hub for Russian troops.

Institute for the Study of War

Russia’s already dubious annexation of parts of Ukraine is not going so well. Shortly after Russian President Vladimir Putin illegally claimed four regions in Ukraine, Ukrainian forces recaptured Liman, an important transport and shipping hub in the eastern part of the country. According to President Volodymyr Zelensky, they have also seized territory in the surrounding areas. British intelligence shows that Putin’s recent mobilization of some 300,000 reservists for the war effort is also a failure. “Putin’s unusually quick recognition of problems highlights the dysfunction of mobilization during the first week. Local authorities likely do not understand the exact scope and legal basis of the campaign,” the UK Department of Defense said on Twitter. Read live news about the war in Ukraine here.

5. Walmart Subscription

Walmart launched its Walmart+ subscription service in 2020. He added perks, including wider gas discounts and free access to Paramount+.

walmart




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