October 7, 2022

StrategisChhr

Skillful Business Crafters

5 things to know before the stock market opens Wednesday, Jan. 5

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

1. Stocks are set to dip at open after Dow’s record close, Nasdaq’s slide

People walk past the New York Stock Exchange (NYSE) on January 4, 2022 in New York City.

Angela Weiss | AFP | Getty Images

2. ADP shows surging job growth at U.S. companies last month

3. Wall Street strategists see a bumpier year ahead as Fed tightens

Wall Street’s 2022 Outlook

Firm Strategist 2022 S&P 500 2022 EPS Implied P/E
Bank of America Merrill Lynch Savita Subramanian 4600 $173 26.59
Barclays Maneesh Deshpande 4800 $235 20.43
BMO Brian Belski 5300 $245 21.63
CFRA Sam Stovall 5024 $220 22.81
Citi Scott Chronert 5100 $221 23.13
Credit Suisse Jonathan Golub 5200 $235 22.13
Goldman Sachs David Kostin 5100 $226 22.57
JPMorgan Chase Dubravko Lakos-Bujas 5050 $240 21.04
Morgan Stanley Mike Wilson 4400 $227 19.38
Oppenheimer John Stoltzfus 5330 $230 23.17
RBC Lori Calvasina 5050 $222 22.75
UBS Keith Parker 4850 $242 20.04
Wells Fargo Investment Institute Darrell Cronk 5200 $235 22.13

4. CDC panel to meet on boosters as agency updates isolation guidance

The Centers for Disease Control and Prevention (CDC) headquarters in Atlanta, Georgia.

Tami Chappell | Reuters

The Centers for Disease Control and Prevention’s vaccine advisory panel is set to hold a meeting Wednesday to discuss the use of a booster dose of Pfizer’s two-shot Covid vaccine for children 12 to 15 years old.

  • On Tuesday, the CDC recommended shortening the interval between Pfizer’s second dose and the booster shot to five months from six.
  • The agency amended its controversial Covid isolation guidance, declining to add a testing requirement as public health officials expected after the CDC last week cut its recommended quarantine from 10 days to five.
  • The CDC also said omicron represented 95{614c55998ee2f2593d42882a86444f5648ce8ae9e914fe55020881091372b47b} of sequenced Covid cases in the U.S. during the week ended New Year’s Day, while the once-dominant delta variant was only 4.6{614c55998ee2f2593d42882a86444f5648ce8ae9e914fe55020881091372b47b} of sequenced cases.

5. Chicago schools are closed for the day as union votes to go remote

Students leave Darwin Elementary in Chicago’s Logan Square neighborhood on Monday, Jan. 3, 2022, the first day back to school from winter break for Chicago Public Schools.

Brian Cassella | Tribune News Service | Getty Images

Leaders of Chicago Public Schools canceled classes Wednesday after the teachers union voted to switch to remote learning due to the surge of Covid cases. It’s the latest development in an escalating battle over pandemic safety protocols in the nation’s third-largest school district. The status of instruction for the rest of the week remained unclear. District leaders said a plan to “continue student learning” would come later Wednesday. School officials deemed the union action a “work stoppage” and said those who did not report to schools Wednesday would not be compensated.

— Reuters and The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

https://www.cnbc.com/2022/01/05/5-things-to-know-before-the-stock-market-opens-wednesday-jan-5.html