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

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

U.S. stock futures fell on Tuesday after gains on Wall Street. The Nasdaq is up nearly 2% earlier in the week as Twitter’s 27% surge on Elon Musk’s new stake in the social network sent tech stocks rallying. Twitter added another 5% in premarket trading on Tuesday on news that Musk will join Twitter’s board of directors. The stock market has entered a seasonally strong period and April is usually one of the best months for stocks. In fact, over the past 20 years, the S&P 500 averaged 2.4% in April, according to data from MKM Partners. The index has also risen in April for 16 of the past 17 years.

U.S. oil prices continued to rise on Tuesday due to supply issues as the U.S. and its European allies considered new sanctions against Moscow over allegations of war crimes against Russian troops in Ukraine. West Texas Intermediate added 1% to more than $104 a barrel after a 4% gain on Monday broke a two-day decline.

Musk will join Twitter’s board of directors after acquiring a 9.2% stake in the social network. After being named to the board of directors, Musk teased in a tweet Tuesday that he would push for adjustments. Hours after revealing that bet, Musk posted a poll on Twitter on Monday night asking users if they wanted an edit button. More than 73% of the nearly 2.6 million respondents hit “yse,” which Musk misspelled to presumably emphasize that the ability to edit posts should be added to Twitter.

Amazon on Tuesday announced a major commercial rocket deal, signing a contract with three companies to launch up to 83 Project Kuiper internet satellites. One such company is Blue Origin of Amazon founder Jeff Bezos. Project Kuiper is Amazon’s plan to build a network of 3,236 satellites in low Earth orbit to provide high-speed internet anywhere in the world. In 2020, the FCC gave Amazon permission to build the system, in which the company said it was “investing more than $10 billion.”

Two EU officials who did not want to be named because of the delicacy of the negotiations, On Tuesday, CNBC said the European Commission would propose a ban on coal imports from Russia. The imposition of sanctions on the Russian energy sector has become a problem for the European Union, given the high level of dependence of some countries on Moscow. President of Ukraine Volodymyr Zelensky set to address Meeting of the UN Security Council on Tuesday as footage of atrocities emerged as Russian forces retreated from cities around Kyiv.

In the last Covid events:

• Coronavirus outbreak persists in China’s largest city “extremely gloomy” This was stated by the director of the Shanghai epidemic control working group. Much of eastern Shanghai, which was due to reopen last Friday, remained on lockdown along with the western part of the city.
• The more contagious omicron BA.2 subvariant now accounts for 72% of Covid infections that have been genetically sequenced in the US, according to the Centers for Disease Control and Prevention. Last week, BA.2 became dominant in the US.
• Senate Republicans and Democrats on Monday reached an agreement on $10 billion in additional Covid funding to buy therapeutics and vaccines and maintain the nation’s capacity for testing if the U.S. hits another wave of Covid. The amount is less than half of the $22.5 billion originally requested by President Joe Biden.

CNN correspondents. Yoon Lee, Samantha Subin, pippa stevens, Sam Shed, Michael Schitz, Vicki McKeever as well as Spencer Kimball and the Associated Press and Reuters contributed to this report.

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