Know these 5 things before the stock market opens on Friday

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

1. Wall Street heads for its first weekly advance in the past four

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

Brendan McDiarmid | Reuters

2. Powell vows ‘unconditional’ measures to fight decades of high inflation

Powell testified before the House Committee on Financial Services on Monetary Policy and the State of the US Economy.

Win McNamee | Getty Images News | Getty Images

day 2. In His Half-Yearly Economic Testimony on Capitol Hill, Fed Chairman Jerome Powell The US House of Representatives told the Financial Services Committee that the central bank’s commitment to rein in 40 years of high inflation is “unconditional”. A day earlier, on Wednesday, Powell told the US Senate Banking Committee that the Fed was not trying to provoke a recession, but it was “definitely a possibility.” Last week, monetary policymakers at their July meeting raised rates by 75 basis points and indicated a further hike of 50 to 75 basis points.

3. Ground Unit Margins Improve as FedEx Reports Mixed Quarterly Results

FedEx Corp. A driver for an independent contractor in the U.S. carries packages for delivery during Cyber ​​Monday in the Hell’s Kitchen neighborhood of New York, United States, on Monday, November 29, 2021.

Angus Mordent | Bloomberg | Getty Images

fedex Shares fell in Friday’s premarket, as the morning delivery giant reported better-than-expected fiscal fourth-quarter profit but missed out on revenue. Adjusted earnings per share of $6.87 beat the guesses by a penny, Revenue rose 8% to $24.4 billion, lower than expected at $24.56 billion. Shipment volumes declined, but were offset by increased shipping rates and fuel surcharges. FedEx’s ground unit margin has improved, but it lags behind United Parcel Service, whose new CEO adopted the “bigger isn’t better” mantra two years ago. FedEx issued upbeat guidance for fiscal year 2023.

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

Zendesk co-founder and CEO Mikel Sven

Eric Piermont | AFP | Getty Images

zendesk Shares rose more than 50% in the premarket on reports that the customer service software vendor was close to a buyout deal with a group of private equity firms. The Wall Street Journal reported Those involved also include Hellman and Friedman and Permira. The potential buyout comes after Zendesk announced last week that it had ceased efforts to sell itself. The San Francisco-based firm is under pressure from active investor Jana Partners. The Journal said it was unclear where GenDesk’s discussions with Jan lie.

5. Bill designed to curb gun violence is up for the House, then Biden

Protesters take part in a rally with senators outside the US Capitol to demand Senate action on gun safety in the wake of the Robb Elementary School shooting in Texas, Thursday, May 26, 2022.

Tom Williams | CQ-ROLL CALL, INC. , Getty Images

A bipartisan bill designed to curb gun violence passed the Senate on Thursday night goes to the house, speaker Nancy Pelosic President Joe Biden promised a vote on Friday to send the most comprehensive firearms measure in decades for his signature. This law, which seemed unthinkable a month ago, got 15 Republican votes, including the minority leader in the Senate. Mitch McConnell, The elementary school massacre in Uvalde, Texas on May 24 galvanized both sides of the aisle to try to prevent it from happening again.

— CNBC peter shacano, Jesse Pound, sarah mino And Tanaya Macheli Also Reuters and The Associated Press contributed to this report.

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