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5 Things You Should Know Before The Stock Market Opens Friday, June 11th

Here are the most important news, trends and analyses that investors need to start a trading day:

1. The S & P 500 is likely to close Thursday’s record

On April 16, 2021, a Wall Street sign is drawn outside the New York Stock Exchange during a coronavirus disease (COVID-19) epidemic in the Manhattan district of New York.

Carlo Allegri | Reuters

US equity futures rose on Friday, the day after the S & P 500 set its 27th record in 2021, the record since May 7. Less than 1% from last month’s record closing price. The Nasdaq rise on Thursday brought the tech heavy index to within 1% of the last record that ended in late April.

Prior to its opening on Wall Street on Friday, the Nasdaq has risen 1.5% in a week for the first time since January, at a four-weekly pace of increase. The S & P 500 was aiming for a three-week streak. The Dow was 0.8% off in a week and was expected to rise for the second straight week.

The 10-year Treasury yield fell on Friday, slightly above 1.4%, and hit a 14-month high later in the month, above 1.7%, centered on a low in early March.

2. Meme stocks get some relief after hitting a wall

Selinsgrove, PA, USA –2021/01/27: A woman passing by the GameStop store in Sasukehana Valley Mall. The online group has soared the stock prices of GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) in an attempt to narrow short sales.

Photo by LightRocket via Paul Weaver / SOPA Images / Getty Images

The meme stock had some relief at the beginning of Friday after hitting the wall on Thursday. GameStop’s share of the 27% tank on Thursday rose 6% in the premarket. GameStop investors have announced that video game retailers have appointed two former Amazon executives as CEO and CFO, potentially selling as many as 5 million additional shares to raise funds. The day after the announcement, it seemed to be running towards the exit on Thursday. GameStop — about 50% off January’s all-time high of $ 483 per share — rose nearly 1,100% in 2021. Last week’s big winner, AMC Entertainment, rose 4% on Friday’s premarket after closing 13% on Thursday. Shares, which fell more than 40% from last week’s high of $ 72.62, rose 1,900% this year as well.

3. Biden, G7 leader approves global minimum corporate tax

US President Joe Biden will take a photo at a meeting with British Prime Minister Boris Johnson prior to the G7 Summit in Carvis Bay, Cornwall, England, on June 10, 2021.

Toby Melville | Reuters

President Joe Biden and G7 leaders will publicly approve a global minimum corporate tax of at least 15% on Friday. This is one of the broader agreements to update international tax law for the globalized digital economy. At a meeting at a resort in the UK, world leaders also put a digital service tax on America’s largest tech company, not where multinationals actually do business, but in practice. We are announcing plans to replace it with a new tax system linked to where we are going. head office. The White House also said G7 leaders agreed to “continue to provide policy support to the global economy as long as it is necessary to produce a strong, balanced and comprehensive economic recovery.”

4.2 Royal Caribbean passengers test positive for Covid

The file photo shows a celebrity millennium cruise ship at the Kowloon Bay Kai Tuck Cruise Terminal.

Felix Wong | South China Morning Post | Getty Images

Royal Caribbean said late Thursday that two guests on board the Celebrity Millennium ship tested positive for Covid. The cruise operator said the passengers were asymptomatic and isolated. The Celebrity Millennium was one of the first cruises in North America to resume voyages last week. The CDC called on fully vaccinated crew members and all 16 years and older to provide evidence of vaccination in lifting the pandemic suspension for more than a year. In the early days of Covid last year, cruise ships became hotbeds of the coronavirus.

5. Tesla will start shipping new Model S plaid

Tesla Model S Plaid

Source: Tesla

Tesla held a livestream event on an electric car maker’s test track near its factory in Fremont, California, Thursday night, and began delivering the new Model S plaid. CEO Elon Musk created his entrance by driving the Model S plaid around the truck and towards the stage. A few weeks before the event, Musk touted a car that was months behind as “the fastest production car ever made.” A high-performance version of Tesla’s flagship sedan, the Model S Plaid starts at $ 129,990, compared to the $ 79,990 for the long-range 2021 Model S. Musk tweeted on Sunday that Tesla canceled the $ 150,000 Model S Played Plus. Plaid is very good and is necessary. “

— Reuters contributed to this report.Follow all market behavior like a pro CNBC Pro..Get the latest pandemic information at CNBC Coronavirus Coverage..

5 Things You Should Know Before The Stock Market Opens Friday, June 11th

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