10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, TSLA, SBUX, GE, ORCL)
Here is what you need to know.
The Dow erases its 2018 gains. The Dow Jones industrial average fell 1.15% on Tuesday, dropping into negative territory for the year.
Manufacturing confidence is through the roof. The National Association of Manufacturers quarterly outlook published on Tuesday showed 95.1% of manufacturers surveyed said they have a positive outlook for their companies, the highest in 20 years.
The inside story of how one of the world’s hottest investment strategies was born from the ashes of the tech bubble. Rob Arnott, the chairman and chief executive of the Pimco subadviser Research Affiliates LLC, spoke to Business Insider’s Joe Ciolli about the origin of his now-world-famous investment technique, smart beta.
We now know how many Model 3s Tesla has produced this year. Internal documents seen by Business Insider’s Linette Lopez and confirmed by two Tesla employees show the electric-car maker has completed about 30,000 Model 3 sedans in 2018.
General Electric is getting kicked out of the Dow. General Electric, an original member of the Dow Jones industrial average, has lost its spot after 111 consecutive years and will be replaced by Walgreens as of June 26, Reuters says.
Starbucks forecasts weaker sales and says its closing 150 US stores. Shares slumped as much as 5% in after-hours trading Tuesday after the coffee chain said same-store sales for the third quarter will rise 1%, missing the 2.9% growth that analysts were expecting.
Netflix crosses $400 for the first time. A trio of bullish notes from Wall Street analysts propelled shares above the $400 plateau for the first time on Tuesday.
Oracle’s guidance comes up short. The enterprise giant beat on both the top and bottom lines, but shares fell more than 3% in after-hours trading Tuesday after its first-quarter earnings forecast of $0.67 to $0.69 a share missed the Wall Street estimate of $0.72.
Earnings reporting remains light. American Outdoors Brand and Micron Technology report after markets close.
US economic data trickles out. The current account balance will be released at 8:30 a.m. ET and existing home sales will cross the wires at 10 a.m. ET. The US 10-year yield is up 1 basis point at 2.90%.
Read the full article from it’s original source: http://uk.businessinsider.com/stock-market-news-opening-bell-june-20-2018-2018-6