5 things to know before the stock market opens Thursday

Rivai H Tukimen

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

1. Futures essentially flat following Wednesday’s declines

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 3, 2022.

Brendan McDermid | Reuters

2. 10-year yield trades above 3%; oil basically flat

Oil prices were basically flat Thursday. U.S. benchmark West Texas Intermediate crude declined by about 0.2% to around $121.90 per barrel. Brent crude, the international benchmark, traded at $123.48 per barrel, right around where it finished Wednesday when WTI and Brent both settled at their highest levels in two months. The recent rise in oil prices has come as China’s Covid reopening is expected to spur more demand while supply concerns elsewhere persist.

3. Tesla shares jump after UBS upgrade

A Tesla store is seen in Shanghai, China, Feb 1, 2022.

Costfoto | Future Publishing | Getty Images

4. Target raises quarterly dividend

A person walks into a Target store in Washington, DC, on May 18, 2022.

Stefani Reynolds | AFP | Getty Images

Target said Thursday that its board of directors approved a hike in its dividend. The quarterly payout will increase by 20% to $1.08 per common share, up from its prior level of 90 cents. The Minneapolis-based retailer is a member of the S&P 500 Dividend Aristocrats index, comprised of companies that have increased their dividends annually for the last 25 years; Target said 2022 will now be the 51st consecutive year that it’s done so. Thursday’s announcement from Target comes two days after the company warned its fiscal second-quarter profit would be squeezed as it took aggressive steps to get rid of excess inventory. Target shares, which are down over 30% year to date, rose by 0.76% in premarket trading.

5. Apple subsidiary will extend loans for its Pay Later service

Apple website displayed on a laptop screen and Apple logo displayed on a phone in this illustration photo.

Jakub Porzycki | Nurphoto | Getty Images

https://www.cnbc.com/2022/06/09/5-things-to-know-before-the-stock-market-opens-thursday.html

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