Business

5 things to know before the stock market opens on Wednesday

Traders work on the floor of the New York Stock Exchange (NYSE) on November 29, 2022 in New York.

Spencer Platt | Getty Images

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

1. Hours of rate hikes

Federal Reserve Chairman Jerome Powell is scheduled to speak at the Brookings Institution today, and investors will be heeding any hint that the central bank will slow or stop rate hikes. After four consecutive 0.75 percentage point hikes to curb high inflation, many are expecting a smaller 0.5 percentage point rise at the Fed meeting next month. A pause in rate hikes or a reversal is likely to push the markets higher. Equity futures rose ahead of Powell’s speech and as the market looked ahead to other economic data expected on Wednesday, including the ADP Private Employment Report and Jobs and Turnover Review.

2. Tesla’s market share is shrinking

3. Railway strike deadline ahead

CSX Transportation freight trains are parked at the train yard in September during the initial threat of a potential freight rail union strike.

Washington Post | Washington Post | Getty Images

4. Kroger, CEO of Albertsons in the hot seat

Albertsons and Kroger Supermarkets

Bridget Bennett | Bloomberg | Getty images; Brandon Bell | Getty Images

5. Hope for BlockFi?

In this photo illustration, the BlockFi logo is displayed on a smartphone.

Rafael Enrique | sopa images | Light rocket | Getty Images


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