There are 5 things to know before the stock market opens on Friday, June 24th

There are 5 things to know before the stock market opens on Friday, June 24th
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Here are the most important news, trends and analyzes that investors need to start their trading day:

1. Wall Street is moving towards its first weekly progress in the past four

A businessman works on the floor of the New York Stock Exchange (NYSE) in New York City, USA on June 22, 2022.

Brendon McDermide | Reuters

2. Powell promises ‘unconditional’ action to combat decades of high inflation

Powell testified before the House Committee on Financial Services regarding financial policy and the state of the U.S. economy.

Winn McNamy Getty ImagesNews | Getty Images

In-Day 2 His half-year economic testimony on Capitol Hill, Fed chairman Jerome Powell The US House of Representatives has told the Financial Services Committee that the central bank’s commitment to controlling 40-year high inflation is “unconditional”. A day earlier, on Wednesday, Powell told the U.S. Senate Banking Committee that the Fed was not trying to provoke a recession, but that it was “certainly a possibility.” Last week, monetary policymakers raised rates by 75 basis points at their July meeting and indicated an increase of 50 to 75 basis points.

3. The FedEx Ground Unit reported mixed quarterly results as margins improved

A driver for an independent contractor at FedEx Corporation carries the package for delivery on Monday, November 29, 2021, during Cyber ​​Monday in the Hales Kitchen area of ​​New York, USA.

Angus Mordant | Bloomberg | Getty Images

FedEx Share prices fell in the pre-market on Friday, after the delivery giant reported better-than-expected financial fourth-quarter gains in the morning but missed revenue. Consistent earnings of 8 6.87 per share Beat guesses by a penny. Revenue rose 8% to $ 24.4 billion, lower than expected at $ 24.56 billion. Shipment volume declined, but was offset by increased shipping rates and fuel surcharges. FedEx’s closely watched ground unit margins have improved, but it has lagged behind United Parcel Services, whose new CEO adopted a “better not bigger” mantra two years ago. FedEx has issued optimistic guidelines for fiscal year 2023.

4. Zendesk reports that it is close to a deal to sell itself

Mikel Saven, co-founder and CEO of Gendesk

Eric Pearmont | AFP | Getty Images

Gendesk Shares in Premarket rose more than 50%, according to reports that customer service software vendors were close to a purchase agreement with a group of private equity firms. The Wall Street Journal reported Hellman and Friedman and Parmira are among those involved. The potential purchase comes after Gendesk announced last week that it has ended its efforts to sell itself. The San Francisco-based firm is under pressure from active investor Jana partners. The journal said it was not clear where Gendesk’s discussions with Jana stood.

5. The bill, designed to prevent gun violence, goes to the House, then to Biden.

Protesters joined a rally with senators outside the U.S. Capitol on Thursday, May 26, 2022, demanding the Senate take action on gun safety in the wake of the shooting at Rob Elementary School in Texas.

Tom-Williams | CQ-Rol Call, Inc. | Getty Images

A bipartisan bill designed to curb gun violence passed in the Senate Thursday night Goes home. Speaker Nancy Pelosi President Joe Biden promised Friday a vote to send the most obvious firearm measurements in decades for his signature. The law, which seemed unimaginable a month ago, received 15 Republican votes in the Senate, including minority leaders. Mitch McConnell. The May 24 massacre at an elementary school in Uvalade, Texas, gathered both sides of the isle so that it could not happen again.

– CNBC’s Peter Shakno, Jesse Pound, Sarah Min And Tanya machel Reuters and the Associated Press also contributed to this report.

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