Here are the key news, trends and analyzes that investors need to start their trading day:
1. Wall Street looks taller after breaking several days of victory streaks
Trading on the floor of the NYSE, March 18, 2022.
Source: NYSE
2. Ukraine recaptures Kyiv suburb; Biden says Putin ‘against the wall’
Officials of the Ukrainian Armed Forces are seen on top of a tank at their positions outside the settlement of Makariv, amid the Russian invasion of Ukraine, near Zhytomyr, Ukraine on March 4, 2022.
Maksim Levin | Reuters
Ukrainian forces said early Tuesday that they were recapturing a strategically important suburb of Kiev. Russia, however, continued to press other areas near the capital, and its attacks on the fought southern port of Mariupol raged with undiminished force.
- U.S. President Joe Biden, who is on his way to Europe later this week to meet with allies, said Monday that Russian President Vladimir Putin’s “back is against the wall” and could resort to using chemical weapons.
- The White House also warned of potential cyber attacks and urged U.S. companies to “immediately” harden their defenses.
3. Dow shares: Nike earnings, Boeing crash probe, Disney dropout
Dow stock Nike rose about 5% in Tuesday’s premarket, the morning after reporting third-quarter earnings and revenue that beat estimates. Nike mentioned a robust demand in North America, but chose not to provide forward-looking guidance amid uncertainty surrounding inflation, Russia’s Ukraine war and clogged supply chains.
Boeing CEO Dave Calhoun told employees that the aircraft manufacturer offered the full support of its technical experts in the investigation of the crash of a China Eastern Airlines 737-800 with 132 people on board. The jet crashed into mountains in southern China early Monday. Boeing, a Dow stock, made modest progress in pre-market trading, a day after falling 3.6%.
Dow stock Disney, down more than 6% in a month, was stable in the market ahead of a week-long planned layoffs, from Tuesday, in protest of CEO Bob Chapek’s delayed termination of Florida’s so-called Don’t Say Gay bill. Chapek said Monday that the company made a mistake by previously keeping quiet about the laws of the state that is home to Disney World.
4. Alibaba increases its $ 25 billion share buyback program
The Alibaba Group logo will be unveiled at the Alibaba Xixi Campus on August 8, 2021 in Hangzhou, China’s Zhejiang Province.
Shen Longquan | Visual China Group | Getty Images
Alibaba shares rose more than 9% in U.S. pre-market trading on Tuesday after the Chinese e-commerce giant said it would increase the size of its share buyback program by 66% to $ 25 billion. Alibaba has repurchased approximately $ 56.2 million of US $ 9.2 billion worth of custodians under the previously announced repurchase program. ADRs are shares listed in the United States and they act as agents for foreign companies. Alibaba seeks to boost investor confidence as the stock has lost about two-thirds of its value since reaching a record high in October 2020.
5. Elon Musk opens Tesla’s long – delayed new Berlin factory
BERLIN, GERMANY – SEPTEMBER 02: Tesla boss Elon Musk arrives for a retreat for the German Christian Democrats’ CDU / CSU Bundestag on September 2, 2020 in Berlin, Germany. Musk is currently in Germany, where he met with vaccine maker CureVac, with whom Tesla is collaborating to build devices for the production of RNA vaccines, yesterday. Today he is also rumored to be the site of the new Gigafactory under construction near Berlin.
Maja Hitij | Getty Images News | Getty Images
On Tuesday, Tesla’s CEO Elon Musk is ready to open the electric car manufacturer’s first production facility in Europe and cut the ribbon to the factory in Berlin. Tesla sees that the factory produces up to 500,000 vehicles annually. A long delay in the licensing of the plant meant that Tesla had to service previous European orders from its Shanghai factory, which increased logistics costs. Selected customers on Tuesday will have Model Y manufactured in Berlin. Musk said new orders from the factory could be delivered as soon as next month.
– CNBC reports Arjun Kharpal, Sam Shead and Lauren Thomas as well as The Associated Press and Reuters contributed to this report.
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