5 things to know before the stock market opens on Monday, June 10

Here are five key things investors need to know when starting their trading day:

1. Nvidia spin-off

Stock futures fell Monday morning after ending a week of gains on Friday. Dow Jones Industrial Average futures fell about 0.2%, while S&P 500 futures and Nasdaq 100 futures were slightly lower. Nvidia The stock, which has become an increasingly market driver of late, also fell in premarket trading. Shares of the maker of chips that support artificial intelligence fell 0.2% after the 10-1 split took effect. The current share price is approximately $120 per share. Follow real-time market updates.

2. Doves cry

On May 1, 2024, U.S. Federal Reserve Chairman Powell held a press conference after holding a two-day interest rate policy meeting in Washington, USA.

Kevin Lamarque | Reuters

Friday’s good jobs news came as bad news for investors awaiting a rate cut from the Federal Reserve. Market expectations for a rate cut have declined after job and wage growth in May were better than expected. Fed funds futures pricing currently points to little chance of a rate cut at this month’s policy meetings and next month’s policy meetings, with only a 54% chance of a rate cut in September. With inflation still above the Fed’s 2% target, hopes for easier monetary policy this year and the accompanying stock market returns have faded. The consumer price index released on Wednesday and the producer price index released on Thursday will both help determine the central bank’s future interest rate path.

3. Profit, stop

Reddit user Keith Gill’s page, thought to have inspired the GameStop rally, is seen on a laptop ahead of a scheduled YouTube livestream on the New York Stock Exchange (NYSE), Friday, June 7, 2024.

Michael Nagel | Bloomberg | Getty Images

game station Return to Earth on Friday. The video game retailer reported a 29% drop in first-quarter sales and said it planned to sell more stock, sending its shares plummeting 40%. Even a live broadcast by a trader known as “Roaring Kitty” didn’t help. The godfather of the meme stock craze could send GameStop shares soaring with social media posts, but he has provided little new information about the company and its shares. GameStop shares soared more than 40% on Thursday after trader Keith Gill arranged a live broadcast. Friday’s plunge extends GameStop’s wild run since Gill resurfaced last month. The stock was suspended 17 times during the session, the most since 19 suspensions in January 2021.

4. Either double it, or nothing at all.

French President Emmanuel Macron speaks with CNBC’s Andrew Ross Sorkin (not shown) on May 23, 2024 in Paris.

CNBC

French President Macron After his party suffered a crushing defeat in the EU vote, he dissolved the country’s parliament and called for new legislative elections. Sunday’s election results showed that Marine Le Pen’s far-right National Rally party won about 31% of the vote, more than double the support of Macron’s centrist Ennahda party. “This is a critical moment for clarification,” Macron said in an address to the nation on Sunday. “I have heard your message, your concerns, and I will not ignore them.” French voters will return to the polls on June 30 and July 7.

5. Good car

U.S. automakers are having trouble selling electric vehicles. Enter costco. General Motors Electric vehicles are increasingly being sold through a partnership with the membership club Costco Automotive Program. It acts as an intermediary between franchised dealers and automakers and its members, who receive discounts on vehicles. Marissa West, president of General Motors North America, said the automaker is “bullish” on Costco and its ability to encourage EV adoption. Costco’s program has boosted sales of an average of more than 500,000 vehicles per year over the past five years.

– CNBC’s Sarah Min, Jeff Cox, Fred Imbert, Yun Li, Alex Harring, Mike Wayland and Katrina Bishop contributed to this report.

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