5 things to know before the stock market opens on Tuesday

Here are the key news, trends and analyzes that investors need to start their trading day:

Stock futures were slightly lower in pre-market trading on Tuesday as Wall Street follows a roller coaster session a day earlier that ended with the major US stock indices in green. On Monday, the Nasdaq Composite had a reversal in the late session to finish higher by 1.63%; at its lowest index, the technology-heavy index had fallen by about 1%. The S&P 500, which fell to a new 2022 intraday low, eventually rose 0.57%. The Dow Jones Industrial Average added 84 points, or 0.26%, after falling more than 500 points on Monday.

April was a sad month for Wall Street and now the market is entering a seasonally weak period for equities while facing more headwinds. They include tighter Federal Reserve policy, high inflation, concerns about recession and the ongoing Russian-Ukrainian war. The Fed will on Wednesday announce an important decision on interest rates.

The bond market is responding to the fact that the Federal Reserve has adopted a more high-policy approach in an attempt to weaken inflationary pressures across the US economy. The yield on the 2-year government bond, which tends to be more sensitive to central bank policy, rose around 4 basis points on Tuesday morning to 2.776%. A base point corresponds to 0.01%. Dividends move inversely to prices.

Pfizer beat Wall Street estimates at the top and bottom line on Tuesday; its shares were slightly higher in pre-market trading. The company reported first-quarter earnings of $ 1.62 per share, excluding commodities, which exceeded consensus estimates by 15 cents per share, according to Refinitiv. Pfizer’s quarterly revenue of $ 25.66 billion topped analysts’ forecasts of $ 23.86 billion. The company’s Covid vaccine contributed $ 13.2 billion in sales in the quarter.

Restaurant Brands International also exceeded expectations for revenue and profit. The parent company of Burger King and Tim Hortons earned 64 cents per share, excluding goods, on $ 1.45 billion in revenue in the first quarter. Analysts had estimated earnings of 63 cents per share at $ 1.41 billion in sales, according to Refinitiv. Burger King saw strong growth in same-store sales at its overseas restaurants.

The number of Securities and Exchange Commission employees dedicated to cryptocurrency markets will nearly double, Wall Street’s chief regulator announced Tuesday. The agency will add 20 positions to its “Crypto Assets and Cyber ​​Unit,” bringing its total number to 50. The SEC’s new hires will include fraud analysts, staff attorneys and litigation attorneys, which President Gary Gensler said will make the regulator “better equipped to police offenses. in the crypto markets “and continue to handle cyber security tasks.

Cryptocurrencies have risen in popularity in recent years. There has been a stream of retail investors starting to trade the digital assets, while institutional actors like venture capitalists have supported blockchain-based start-ups in the nascent industry. However, Gensler has expressed concern about potential fraud in crypto markets and sought to extend the protection of retail investors in particular.

The Supreme Court is ready to overturn the landmark Roe v. Wade ruling, which legalized abortion across the United States nearly 50 years ago, according to a leaked draft decision given to Politico. Judge Samuel Alito wrote the draft opinion, in which at least four other Conservative Supreme Court members agreed with him. “Roe made a huge mistake from the start,” Alito wrote in the draft published by Politico. CNBC has not been able to independently verify the draft decision, which Politico said was only circulated among the judges in February. Draft decisions are not final. A spokeswoman for the Supreme Court declined to comment to CNBC on the Politico report.

– sign up now for CNBC Investing Club to follow Jim Cramers every single stock move. Follow the broader market action as a professional at CNBC Pro.