5 Things to Know Before the Stock Market Opens on Thursday, July 14

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, July 13, 2022.

Brendan McDermid | Reuters

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

1. Another weak morning for stocks

Just a few days ago, investors celebrated a week of victory in the markets as stocks struggled to climb out of the big hole left by the worst first half for stocks in five decades. However, things took a turn for the worse this week as June inflation data came in higher than expected, sparking fears on Wall Street that the Fed will raise rates even more aggressively this month. Futures were before the bell on Thursday morning, while the markets were digesting the first earnings reports of the big banks.

2. Yellen says inflation is ‘unacceptably high’

3. JPMorgan and Morgan Stanley report earnings

A man enters the JPMorgan Chase headquarters in New York, June 30, 2022.

Andrew Kelly | Reuters

JPMorgan Chase kicked off the bank’s profits by reporting a 28% decline in second-quarter earnings as the bank built up reserves to fight bad loans. Morgan Stanley later reported that its revenue fell in the second quarter, to which CEO James Gorman called “a more volatile market environment than we’ve seen for some time.” Investors are wondering how Wall Street has dealt with volatility in a recent period of high consumer spending and job growth, even as inflation continued to rise and signs of a slowdown in economic growth mounted.

4. Netflix connects with Microsoft

The Netflix logo is visible on the TV remote control in this illustration taken January 20, 2022.

Dado Ruvic | Reuters

5. Cryptocurrency firm files for bankruptcy

Bitcoin and other cryptocurrencies have plummeted as investors dump risky assets. Crypto lending company Celsius is suspending withdrawals for its clients, raising fears of a spread to the wider market.

Nurfoto | Nurfoto | Getty Images

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