5 things to know before the stock market opens on Thursday

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

Stock futures have changed slightly on the last trading day of the week

A trader works on the floor of the New York Stock Exchange (NYSE) in New York on April 4, 2022.

Brendan McDermid | Reuters

U.S. stock futures were slightly changed Thursday morning as Wall Street enters the final trading day of a holiday-shortened week. Equities had a strong Wednesday, rising on the back of predominantly positive earnings from e.g. Delta Air Lines and Fastenal. The S&P 500 and technology-heavy Nasdaq Composite broke three-day losses, rising 1.12% and 2.03%, respectively. The Dow Jones Industrial Average added 344 points, or 1.01%. Despite Wednesday’s gains, the major indices are still going strong in negative weeks. Investors are keeping a close eye on corporate performance as the earnings season progresses. The stock exchange is closed on Good Friday.

The 10-year government interest rate was around 2.70% on Thursday morning, an increase of only 1 basis point. The dividend moves inversely to prices, and a basis point corresponds to 0.01%.

Major banks including Goldman Sachs report results

David Solomon, CEO of Goldman Sachs & Co., speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, USA, on Monday, April 29, 2019.

Patrick T. Fallon | Bloomberg | Getty Images

Four major US banks reported first-quarter results on Thursday morning: Goldman Sachs, Wells Fargo, Citigroup and Morgan Stanley. Here’s how they did it:

  • Goldman Sachs: The Wall Street bank markedly topped its revenue and earnings forecasts as its trading desk deftly navigated market volatility. Shares of Goldman Sachs rose more than 2% in pre-market trading.
  • Wells Fargo: Shares in the San Francisco-based bank fell after it missed Street’s earnings estimates as mortgage lending fell during the quarter. Wells Fargo’s earnings per share of 88 cents were better than the 80 cents analysts expected, according to Refinitiv.
  • Citigroup: The company, led by CEO Jane Fraser, overshadowed revenue and profit estimates. Citi earned $ 2.02 per share on revenue of $ 19.19 billion. The stock rose more than 3% in pre-market trading.
  • Morgan Stanley: The bank beat analysts’ forecasts on the top and bottom line, sending stocks higher by more than 2%. The strong quarterly results were driven by increases in trading revenue.

3. Elon Musk offers to buy Twitter and take it private

Entrepreneur and business magnate Elon Musk gestures during a visit to the Tesla Gigafactory factory under construction on August 13, 2021 in Gruenheide near Berlin in eastern Germany.

Patrick Pleul | AFP | Getty Images

Elon Musk made an offer to buy Twitter for $ 54.20 per share. share, a few days after Tesla’s CEO and the world’s richest person turned the course to join the company’s social media company board. Musk, a prolific tweeter with more than 81 million followers on the platform, recently became Twitter’s largest individual shareholder. In a letter to Twitter chairman Bret Taylor, Musk said he believes Twitter should be “the platform for free speech across the globe,” but may not be “in its current form.” He wrote: “Twitter needs to be transformed into a private company.” Musk’s offer estimates Twitter at about $ 43 billion.

Twitter shares rose nearly 12% in pre-market trading on Thursday on the news, which was revealed in a filing for the Securities and Exchange Commission. Tesla’s shares were down about 1.3%.

4. Amazon adds 5% ‘fuel and inflation surcharge’ to seller fees

Amazon vans line up at a distribution center to pick up packages for delivery on Amazon Prime Day in Orlando, Florida.

Paul Hennessy | NurPhoto | Getty Images

Amazon intends to add a 5% “fuel and inflation surcharge” to the existing fees it charges third-party sellers in the United States who rely on the e-commerce giant’s fulfillment services. In an announcement to sellers obtained by CNBC, Amazon said the additional fee will be implemented on April 28 and is “subject to change.” Amazon’s decision represents an attempt to compensate for its own rising costs, as inflation in the United States has been at its hottest level since the early 1980s. In particular, gas prices have risen in recent weeks due to concerns about the oil supply in connection with Russia’s invasion of Ukraine.

Programming note: Amazon CEO Andy Jassy will be interviewed live on CNBC’s “Squawk Box” around noon. 8:30 ET Thursday.

5. Russian warship damaged, Moscow warns Finland and Sweden

The Russian missile cruiser Moscow was set on fire and evacuated after a Ukrainian attack on the ship. Here, Moscow is shown off the coast of Syria in 2015.

Max Delany | AFP | Getty Images

The entire crew of Russia’s Moscow warship was evacuated after the flagship of its Black Sea Fleet was damaged. Ukrainian officials said the country successfully launched a missile attack on the vessel, while Russia claimed the evacuation was due to a fire. The incident is remarkable, Reuters reported, because the activities of the Russian navy in the Black Sea are helping to support Moscow’s land operations in the southern part of Ukraine.

As Finland and Sweden are closer to seeking NATO membership, Russia said the two Nordic nations would become new “opponents” if they joined the US-led military alliance. “There can no longer be any nuclear-free status for the Baltic Sea – the balance needs to be restored,” Dmitry Medvedev, a key official of Russia’s Security Council, said on his Telegram channel.

CNBC’s Natasha Turak and Annie Palmer contributed to this report.

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