5 Things You Should Know Before The Stock Market Opens Friday, October 22

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

1. Mixed stock futures after the S & P 500 record ends

The trader works on the floor of the New York Stock Exchange (NYSE) in New York City, USA on October 20, 2021.

Brendan MacDermid | Reuters

US stock futures were mixed on Friday, tech stocks were under pressure, and a 10-year Treasury yield traded above a May high of 1.69%. Thursday’s S & P 500 set a record closing price and extended the running of winning sessions to seven times. The Nasdaq, which also made progress, was about 1% away from the record closing price on September 7. The Dow Jones Industrial Average fell for the first time in three sessions. However, the average of 30 shares remained shy at the record closing price in mid-August. All three benchmarks tracked a solid weekly rise.

  • The Dow Jones Industrial Average initially fell more than 3% in the premarket on Friday after lower-than-expected earnings in the third quarter. But stocks have paired most of those losses.
  • Another Dow stock, American Express, rose 1.5% in front of the market after surpassing estimates in quarterly earnings and earnings.

2. Intel stocks sink due to earnings mistakes, outlook warnings

The Intel logo was drawn during preparations at the CeBit Computer Fair.

Fabian Bimmer | Reuters

The Dow Jones Industrial Average fell 10% in the premarket on Friday the morning after reporting lower-than-expected earnings in the third quarter. Chip makers also blamed the industry-wide component shortage for the PC chip business shrinking by 2%. Intel has warned that gross profit and free cash flow will drop to lower levels in the next few years as it invests in research and development and builds a new chip factory.

3. Snapshare plummets after slowing online advertising

A Snapchat application on a smartphone located in St. Thomas, US Virgin Islands on Friday, January 29, 2021.

Gabby Jones | Bloomberg | Getty Images

Social media inventories fell ahead of the market as Snap plummeted by 20% due to quarterly earnings missteps after the advertising business was disrupted by a privacy change introduced earlier this year by Apple. Snap also warned at the end of Thursday that global supply chain disruptions and labor shortages would reduce “short-term desires to generate additional customer demand through advertising.” Facebook and Twitter shares fell 3% and 4%, respectively, as investors worried about the online advertising business.

4. CDC clears Moderna, J & J boosters and mixes and matches

A person receives the Moderna Covid-19 vaccine at the American Bank Center in Corpus Christi, Texas, USA on Thursday, February 11, 2021.

Go to Nakamura | Bloomberg | Getty Images

The Centers for Disease Control and Prevention on Thursday cleared booster shots of the Moderna and Johnson & Johnson Covid-19 vaccines. Moderna was approved for the elderly and at-risk adults 6 months after the second shot. This is in line with Pfizer’s booster approval last month. The CDC has approved the J & J booster for anyone over the age of 18 who received the first shot at least two months ago. Authorities also gave people the freedom to mix and match any of these three vaccines approved for use in the United States.

5. Biden says corporate taxes are unlikely to be raised by spending bills

US President Joe Biden (R) greets attendees on October 21, 2021 during a commercial break at CNN Town Hall on the Baltimore Center Stage in Baltimore, Maryland.

Nicholas Cam | AFP | Getty Images

President Joe Biden said Thursday that he was approaching an agreement to pass key infrastructure and social spending measures. Biden also said corporate tax rates are unlikely to be raised by spending bills. Instead, he said another minimum corporate tax proposal could fund social programs. According to Biden, the focus of the negotiations is currently four or five issues, with no details.

— 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, October 22

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