5 things to know before the stock market opens Thursday, December 2

Here are the top news, trends and analysis that investors need to start their trading day:

1. The Dow is poised to rally after the US omicron case triggers a massive sell-off

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, December 1, 2021.

Brendan McDermid | Reuters

Dow futures rose More than 200 points Thursday, to give up some of the previous larger gains. Nasdaq futures turned lower An apple It decreased by 3% in the supermarket. Bloomberg reports That tech giant, which snapped a two-day winning streak on Wednesday, told its component suppliers that demand for the iPhone 13 has weakened. Weekly jobless claims also showed before the bell Which is a lower-than-expected rise to 222,000 After 194,000 last week revised downward, the lowest level in more than five decades.

2. House of Representatives strikes for deal to avoid government shutdown one day before deadline

A man passes by the US Capitol as a government shutdown looms in Washington, September 30, 2021.

Leah Mehlis | Reuters

House reached an agreement on a short-term government funding bill that would prevent shutdowns before the Friday deadline. This measure is scheduled to fund the government at current levels until February 18. The House of Representatives may vote on the legislation on Thursday. The House and Senate must approve a spending bill by Friday to prevent a funding dip. If the House passes the bill, the Senate can still pose problems while lawmakers rush to avoid a crisis. Any senator has the power to stop a bill from being passed quickly. It is unclear whether Senate leaders can reach an agreement that would allow a quick vote on the spending bill.

3. Biden unveils new Covid plan, asks companies to move forward with vaccine authorization

Passengers arrive on flights at Newark Liberty International Airport on November 30, 2021 in Newark, New Jersey.

Spencer Platt | Getty Images

The Biden administration is tightening rules for travel to and within the United States, requiring all domestic international passengers to be tested for Covid within 24 hours of their departure and expanding mask requirements on all domestic flights and public transportation through March 18. Changes were announced on Thursday and It was part of a broader plan To strengthen the nation’s fight against the virus as the world enters its third year of the pandemic. There’s also a new urgency as scientists race to learn more about the omicron variant, which was first discovered in South Africa and revealed on Friday. The United States has joined at least 23 other countries that have identified omicron cases so far, and that number is expected to rise in the coming days and weeks.

US President Joe Biden talks about supply chain issues in the South Courtroom of the Eisenhower Executive Office Building, next to the White House in Washington, DC on December 1, 2021.

Mandel Ngan | AFP | Getty Images

President Joe Biden Thursday ask companies To voluntarily advance a Covid vaccine and the administration’s testing requirements, even when rules face challenges in court. The Department of Justice last week asked the US Court of Appeals for the Sixth Circuit to immediately reinstate vaccination and testing requirements. Biden administration officials told the court that “the threat to workers is persistent and overwhelming.” The request comes as US and international health officials worry that Omicron, which contains nearly 50 mutations, could prove more transmissible than previous virus strains and might sidestep vaccine protection to some extent.

4. Jack Dorsey’s Square changes its name to Block to reflect the development of the company

Twitter CEO Jack Dorsey addresses students during a meeting at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018.

Anushri Fadnavis | Reuters

Two days after stepping down as Twitter CEO on Monday, Field Executive Director Jack Dorsey On Wednesday, he announced the other company he co-founded He was changing the name of the company Ban, effective December 10, to reflect its crypto and blockchain aspirations beyond smartphone credit card readers. Since then, Square, which was founded in 2009, has added a digital peer-to-peer banking and lending app to small businesses, acquired a banking charter, and started offering cryptocurrency and stock trading. Square has acquired Buy Now-pay-later provider Afterpay and Jay-Z’s Tidal. It doubles too Bitcoin With a coding-focused business called TBD. The block will continue to trade under the symbol SQ on the New York Stock Exchange.

5. MLB Lockdown begins with owners and players at a standstill

Los Angeles Dodgers quarterback Cody Bellinger (35) steals second base as St.

Robert Hanashiro | USA Today Sports

Major League Baseball’s collective bargaining agreement officially expired at midnight Thursday, and Team owners voted to ban players After failing to reach a new agreement. It’s the first shutdown since a player’s strike in 1994, which lasted 232 days and saw the World Championships canceled that year. The MLB Players Association called the current shutdown a “dramatic measure” but said it remained determined to break up the CBA by negotiation that would be “fair to all parties, and provide fans with the best version of the game we all love”. Commissioner Rob Manfred defended the shutdown as “essential,” saying the MLBPA’s vision for the league “would threaten the ability of most teams to compete.”

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