5 things to know before the stock market opens Tuesday

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5 things to know before the stock market opens Tuesday

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

1. The Dow Jones rises

2. Bank earnings drive the day

3. Goldman Sachs Lowers Recession Chances

The chances of a near-term U.S. recession appear to be declining, According to Goldman Sachs. The investment bank lowered the probability of an economic contraction in the next 12 months to 20% from 25%. Goldman Sachs chief economist Jan Hatzius cited economic data such as first-quarter GDP growth and slowing inflation, raising the possibility that the Fed will rein in sharp price increases without triggering a recession next year. “However, accommodative financial conditions, a rebound in the housing market and a continued boom in factory construction point to continued growth, albeit below trend,” Hatzius said in a research note. A pullback from highs not seen in decades, but inflation is proving to be stubborn, and the fight against it is not over.

4. Musk and Zack will feud with Congress

Whether or not Elon Musk and Mark Zuckerberg face off in a cage match, they’re going to face a fight. Democrats and Republicans in Congress are ramping up scrutiny of tech giants and their businesses as they expand their empires. On the Senate side, Senator Elizabeth Warren (D-Massachusetts) Ask the SEC to investigate tesla Its CEO Elon Musk bought Twitter. She cited potential conflicts of interest, such as the prospect of using social media platforms to benefit Tesla, and “misappropriation of company assets.” Meanwhile, the Republican-led House Judiciary Committee expanded its content moderation investigation into the Zuckerberg-led House Judiciary Committee. Yuansocial platform to its new Twitter competitor, Threads. Republican lawmakers have long expressed concern about what they call efforts to curb conservative speech on social platforms.

5. Breakthrough in Alzheimer’s and RSV

Millions of Alzheimer’s patients will soon have more treatment options than they did just a few months ago. Eli Lilly The company said it has applied to the FDA for approval of its promising Alzheimer’s disease treatment donanemab as part of a Phase 3 trial that slows the disease in patients in the early stages of progression. The company expects the agency to make a decision by the end of the year.after approval Eisai and BiogenThe treatment Leqembi, which opens the door to expanded Medicare coverage for an equally promising treatment. Alzheimer’s is notoriously difficult to treat, and the potential approval of two drugs for the disease could be a game-changer for patients across the United States, but the treatments can be expensive and inaccessible for months or years, And both carry risks of side effects like brain swelling or bleeding. The FDA also approved the first vaccine to protect all infants from RSV, whether they are healthy or have a medical condition.

– CNBC’s Samantha Subin, Hugh Son, Lauren Feiner, Lora Kolodny, Annika Kim Constantino, Spencer Kimball, Lee Ying Shan and Jeff Cox contributed to this report.

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