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Table of Contents
Traders work on the floor of the New York Stock Exchange (NYSE), April 10, 2023.
Brendan McDermid | Reuters
Here are the most important news items that investors need to start their trading day:
1. Uptick
Stock futures were up slightly in premarket trading Tuesday after notching modest moves during Monday’s regular session trading. The Dow Jones Industrial Average and the S&P 500 both inched higher on Monday, gaining 0.3% and 0.1%, respectively, while tech-heavy Nasdaq Composite slipped 0.03%. Investors await more inflation data and the first bank earnings reports of the season, due later this week. JPMorgan Chase, Wells Fargo and Citigroup will all report their results on Friday. Follow live market updates.
2. Credit concerns
Customers shop for eggs at a H-E-B grocery store on February 08, 2023 in Austin, Texas.
Brandon Bell | Getty Images News | Getty Images
Add diminishing access to credit to the growing list of concerns that Americans have for the economic road ahead. A monthly survey by the New York Federal Reserve, out Monday, found the share of respondents who reported that credit is much or somewhat harder to get than a year ago rose to 58.2% last month. That level was the highest ever in a data series that dates back to June 2013. The share of respondents who expect credit to be more difficult to get a year from now also rose, to nearly 53%, as did respondents’ perceived probability of missing a minimum debt payment in the next three months. The survey comes as the Federal Reserve works to tamp down persistent inflation — and suggests consumers aren’t confident in its efforts to do so to date.
3. Breaking through
Bitcoin offices in Istanbul, Turkey on March 24, 2023.
Umit Turhan Coskun | Nurphoto | Getty Images
4. Oh, Canada?
Ukraine’s Prime Minister Denys Shmyhal attends a news conference, amid Russia’s attack on Ukraine, in Kyiv, Ukraine March 3, 2023.
Stringer | Reuters
Ukrainian Prime Minister Denys Shmyhal is in Canada for an official visit, where he’ll request additional aid and ammunition for an expected counteroffensive effort out of Ukraine, according to local media. “Now, we need heavy armoured vehicles. And we need more artillery shells: ammunition for howitzers and ammunition for tanks,” Shmyhal told Canadian newspaper The Globe and Mail in an interview. “It’s crucially important for the organization of our counteroffensive.” Shmyhal will meet with Canadian Prime Minister Justin Trudeau and Deputy Prime Minister Chrystia Freeland and said in a tweet, “We are preparing new agreements and deals to strengthen the macro-financial and economic stability of [Ukraine]. We are working for victory.” Follow live updates from the war in Ukraine.
5. Unplug
A cell phone charging station is seen in Indio, California.
Karl Walter | Getty Images
Next time you’re far from home and low on battery, you might think twice before plugging into a public charging station. The FBI is warning users about the free hook-ups, saying criminals have hijacked some of the stations and infected them with malware that could grant hackers access to your personal devices. The connections have become popular in airports, hotels and shopping malls — even on public streets — but they’re susceptible to so-called “juice jacking” according to the Federal Communications Commission. The FBI says it’s best to carry your own USB cable and find a standard electrical outlet in a pinch.
– CNBC’s Hakyung Kim, Jeff Cox, Tanaya Macheel, Natasha Turak and Rohan Goswami contributed to this report.
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