5 things to know before the stock market opens on Monday, June 6

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

Wall Street has been established to deliver gains before the market open on Monday after a tough session on Friday, led by lowers Nasdaqdown nearly 2.5%. Nasdaq and S&P 500 their login eighth week of the past nine weeks but kept most of last week’s 6.8% and 6.6% gains, respectively. The Dow Jones Industrial Average fell for the ninth week out of the past 10 but also held more than the previous week’s more than 6.2% gain.

• Tech stocks, including Apple, rose in the money market. Apple will hold its annual developer conference on Monday. Shares of Amazon increased 1.5% to $124 per person in the money market, because the company The 20-for-one stock split is in effect open on monday. The price of the cryptocurrency, which recently traded in tandem with the technology, rose on Monday, with bitcoin over $31,000.
• At the end of this trading week, investors and Federal Reserve see the latest information Consumer price index. Economists say retail-level inflation in May surged 8.2% year-on-year but continued to fall for the second straight month.

Whether the US has seen peak inflation or not, the rally in gasoline prices shows no sign of slowing down. The national average at the pump reaches almost $4.87 per gallon as of Monday, according to AAA. California continues to be the highest of any state, with an average gas price of $6.34 per gallon there.

The reasons for the dizzying increase: more demand ahead of the summer driving season and the continued rise in oil prices. In reality, West Texas Intermediate and Brent Crude Oil trades at around $120 per barrel like Doubtful trader whether a 50% increase in OPEC+ monthly output target will help ease tight supply.

Shares of Chinese ride-hailing giant Didi surged more than 50% in pre-market trading in the US on Monday after The Wall Street Journal reported that regulators in China are ending year-long investigations into the company. According to the MagazineChinese authorities plan to lift the ban on Didi from adding new users as early as next week and restore the company’s apps in the country’s app stores.

• Even with Monday’s pre-market gains, Didi stock is down about 80% since its IPO in June 2021 at $14 per share. Didi said in December the company will delist on the New York Stock Exchange and will instead seek listing in Hong Kong.

Tesla CEO Elon Musk said on Saturday the total number of electric vehicle manufacturers’ top will increase over the next 12 months, but the number of salaried employees was little changed. Those comments appear to stem from last week’s email to employees saying that 10% of jobs need to be cut. In a separate email to executives, Musk said he has a “feeling super bad” about the economy. Tesla shares rose 3% in money markets on Monday after falling 9% on Friday.

• When asked about Musk’s comment, Chairman Joe Biden said Friday that while the Tesla CEO talked about concerns and the economic slowdown, Ford increased investment in building new electric vehicles, with an additional 6,000 union employees in the Midwest.

Spirit Airlines 6% increase in money market after JetBlue in Monday sweeten its bid for service providers at extremely low prices. JetBlue said in a filing that it would increase the separation fee for the deal to $350 million and pay a portion of that in the form of a $1.5 per share dividend if the deal is closed. All in all, that increases the value of the JetBlue offer to $31.50 per Spirit share.

• JetBlue, whose stock is unchanged, previously offered a price of $30 per share and a $3 kick if Spirit entered the negotiations. Spirit declined that, in favor of a lower bid from Frontier Airlines, thinking that regulators would not approve the JetBlue combination.
• Last week, Frontier’s Parents agreed to pay a $250 million breakup fee for its settlement. Shares of Frontier fell 1.6% in money markets on Monday. Spirit was set to vote on the Frontier proposal on Friday.

– by CNBC Patti Domm, Arjun Kharpal and Lora Kolodny as well as Reuters contributed to this report.

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