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    How this risky strategy can leave retail investors vulnerable

    “The idea that I used social media to promote GameStop stock to unwitting investors and influence the market is preposterous,” Keith Gill told Congress. 
    Gill — who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube — testified in front of the U.S. House of Representatives’ Committee on Financial Services in February 2021. He became an influential figure online and is credited with helping inspire the epic GameStop short squeeze. Gill would screenshot his investment portfolio, showing his winnings from his GameStop position.

    A lot of Gill’s portfolio consisted of what are called options contracts.
    Options are an investment strategy that gives a trader the right to buy or sell a security. 
    “It’s best to think of options as an insurance product,” said Chris Murphy, co-head of derivative strategy at Susquehanna Financial Group.
    Over the past two years, options have become increasingly popular among individual investors using brokerage platforms such as Robinhood. 
    “Twenty years ago, if you wanted to trade an option, you needed to maybe call up a broker on the phone, you needed to pay a significantly high amount of commission,” Murphy said. “So there’s much easier access to options markets, and the use of options has pretty much just grown alongside of that.”

    If used properly, options can be a good way to hedge risk. But they can also be risky.
    “Options are the kinds of bets where you can lose everything,” said Joshua Mitts, associate professor of law at Columbia Law School. “Unlike a share of stock, where you might see your portfolio go down by 5[%] or 10% in value, when you buy and sell options, you can lose all of your money.”
    “[Options] in and of themselves are not bad tools,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Fire is a wonderful tool. If you don’t know how to use it, it’s going to end poorly.”
    Watch the video above to learn why options activity keeps climbing and why the investment strategy can be so risky. More

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    Tesla wants to split its stock so it can pay a stock dividend; shares gain

    The SEC filing said the electric car maker will ask at its annual shareholders meeting “for an increase in the number of authorized shares of common stock … in order to enable a stock split of the Company’s common stock in the form of a stock dividend.”
    Tesla last split its stock in August 2020. The shares have more than doubled since that 5-for-1 split took effect on Aug. 31, 2020.

    Tesla wants to split its stock so it can pay a stock dividend to shareholders, according to a filing Monday.
    The Securities and Exchange Commission filing said the electric car maker will ask at its annual shareholders meeting “for an increase in the number of authorized shares of common stock … in order to enable a stock split of the Company’s common stock in the form of a stock dividend.”

    A stock dividend is a dividend paid to shareholders in the form of additional company shares instead of cash. These dividends do not affect the value of a company, but they dilute its share price.
    Tesla’s shares were up more than 5% in premarket trading to about $1,066.
    The company last split its stock in August 2020. The shares have more than doubled since that 5-for-1 split took effect on Aug. 31, 2020.
    The news comes as Tesla’s stock has struggled this year, slipping 4.4% for 2022 through Friday’s close. That said, it jumped 49.8% in 2021 and surged 743.4% in 2020. The shares have also risen in each of the last five years.
    The move also follows a Bloomberg News report that said Tesla will halt production at its Shanghai factory due to a Covid-19 lockdown in the city.

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    Most medical debt is coming off credit reports. Here’s what to do if yours doesn’t

    Maskot | Maskot | Getty Images

    If you have medical debt weighing down your credit score, it may be wiped off your credit report in a few months.
    Yet before you cheer the good news, first make sure your debt qualifies.

    The three credit reporting companies — Equifax, Experian and TransUnion — recently announced that starting July 1, they will remove any medical debts that were sent to debt collectors and eventually paid off.
    In addition, any unpaid medical debt won’t appear on credit reports for a year, up from the previous 6 months, in order to give consumers time with providers and insurers to address the bill.
    More from Invest in You:Here’s how to settle your loved one’s estate after they pass awayThere’s still time to contribute to an IRA or an HSA for 2021Inflation is costing U.S. households nearly $300 more a month
    In the first half of 2023, the credit reporting firms also won’t include medical collection debt under at least $500 on credit reports.
    “You can have an otherwise pristine credit score and this medical debt can bring you down,” said Ted Rossman, senior industry analyst at Bankrate and CreditCards.com.

    “Sometimes it is a simple insurance mix up, or it can be a life or death crisis.”
    That, in turn, can impact other areas of your life. Your credit score determines if you can get a home mortgage, as well as the interest rate you’ll pay on any loans or credit cards.
    It can also determine whether you can rent an apartment or even land a job. Almost half of employers check some or all of their candidates’ credit reports, according to a 2018 report by the National Association of Professional Background Screeners.

    Check your credit reports

    After July 1, check to see if any paid medical debt that had been on your reports is gone. Thanks to the Covid-19 pandemic, you are entitled to one free credit report a week from each of the big three credit reporting businesses through the end of the year.
    The reports are available through AnnualCreditReport.com.
    “You should always be checking your credit report,” said Chi Chi Wu, staff attorney at the National Consumer Law Center.

    That’s because mistakes can happen. More than one-third of Americans found at least one error on their credit report, according to a 2021 Consumer Reports investigation. However, the Consumer Data Industry Association, which represents the credit scoring companies, called the Consumer Reports story “completely false and misleading.”
    On the other hand, a 2012 study by the Federal Trade Commission found 25% of Americans had a mistake on their credit reports.

    File a dispute

    SpiffyJ | E+ | Getty Images

    If medical debt that should have been removed is still there, you can file a dispute to get it wiped off with each credit reporting company that shows the debt. Here are the links for each one:

    You should also dispute it with the company that furnished the information; in the case of medical debt that is often a debt collector.
    If there is debt that has been paid off yet appears as unpaid, it can get a little more complicated.
    “We generally recommend that you mail a dispute through certified mail,” Wu said.
    Include documentation showing that the debt was satisfied, she said. It should go to both the credit reporting firms and the debt collector. (Here’s a sample letter from the FTC for disputing errors on credit reports.)
    The credit reporting agencies have up to 30 days to investigate a claim. It’s not uncommon to have your dispute rejected, particularly if it is over whether it has been paid or unpaid, so you may have to dispute the debt a couple of times, Wu said. Be sure to include additional information in subsequent communication.
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    Stocks making the biggest moves in the premarket: Tesla, Beyond Meat, Coinbase and more

    Take a look at some of the biggest movers in the premarket:
    Tesla (TSLA) – Tesla will ask shareholders to authorize the issuance of additional shares at the upcoming annual meeting so it can pay a stock dividend, according to a company tweet. The additional shares would enable the company to split its stock. Tesla jumped 5.4% in the premarket.

    Beyond Meat (BYND) – Beyond Meat slid 5.1% in the premarket after Piper Sandler downgraded the stock to “underweight” from “neutral.” Piper points to increasing competition for plant-based meat substitutes, as well as lower positive expectations for the impact of a nationwide McDonald’s (MCD) launch.
    Coinbase (COIN) – The cryptocurrency exchange operator is reportedly near a deal to buy 2TM, the parent of Brazilian cryptocurrency brokerage Mercado Bitcoin, according to a local newspaper. The paper said a deal could be closed by the end of April. Coinbase rallied 4.2% in the premarket.
    Apple (AAPL) – Apple will reportedly cut planned iPhone SE output by 20% next quarter, according to a report by Japan’s Nikkei news service citing weaker-than-expected demand. Apple fell 1.2% in premarket trading.
    Poly (POLY) – The communications technology company agreed to be acquired by HP Inc. (HPQ) for $40 per share, compared to Poly’s Friday close of $26.20 per share. The companies expect the deal to close before the end of this year.
    Foot Locker (FL) – The athletic footwear and apparel retailer’s stock fell 1.7% in premarket trading after Cowen downgraded it to “market perform” from “outperform.” Cowen said despite an inexpensive valuation, investors may be underappreciating the potential impact of inflation.

    Barclays (BCS) – Barclays lost 3.1% in premarket action after the British bank disclosed a loss of nearly $592 million stemming from mishandled bond trades. It also said it would delay a planned share buyback as a result.
    AMC Entertainment (AMC) – AMC CEO Adam Aron told Reuters the company would strike more “transformational” deals, following its $27.9 million investment in gold and silver mine operator Hycroft Mining (HYMC) earlier this month. AMC added 2.2% in the premarket, while Hycroft – a microcap stock with a market value of $77.3 million as of Friday’s close – surged 32.8%.
    Uber Technologies (UBER) – Uber won a new 30-month license to operate in London. The ride-hailing service had been engaged in a dispute with regulators over the past five years over safety issues and had lost its license to operate twice over that period.
    Hasbro (HAS) – Hasbro turned down a settlement offer with activist investor Alta Fox Capital over board nominees, according to people familiar with the matter who spoke to Reuters. Alta Fox holds a 2.5% stake in the toymaker, and the two sides have been negotiating to avoid a proxy contest.
    CORRECTION: This article has been updated to correct Piper Sandler downgrading Beyond Meat to “underweight” from “neutral.”

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    MLB reaches a $125 million sponsorship deal with Capital One

    Capital One has become the “official bank and credit card partner” of Major League Baseball, according to an announcement Monday.
    Terms of the deal weren’t made public, but sources told CNBC that it is about $125 million for MLB over five years.
    In 2021, MLB’s sponsorship revenue rose to roughly $1.7 billion from about $1 billion during the Covid-shortened 2020 season, the sources said.

    Fernando Tatis Jr. #23 of the San Diego Padres runs past third base in the 8th inning against the Los Angeles Dodgers on April 18, 2021 at Petco Park in San Diego, California.
    Matt Thomas | San Diego Padres | Getty Images

    Major League Baseball has a new banking partner: Capital One.
    Under the deal, the company becomes the “official bank and credit card partner” of MLB, according to an announcement Monday. Terms of the deal weren’t made public, but people familiar with the matter told CNBC that it is about $125 million for MLB over five years. The people declined to be named because the numbers weren’t publicly disclosed.

    The bank can use MLB and its 30 teams in advertising campaigns, and Capital One will also be a presenting sponsor for the World Series.
    MLB’s agreement with Capital One arrives weeks after the league settled a nearly 100-day labor dispute with the MLB Players Association. The work stoppage delayed spring training and the regular season, which will start on April 7.
    With labor peace secure, MLB is also set to roll out additional assets around its sport. Sponsorships on helmets could pop up during this season, according to MLB Chief Revenue Officer Noah Garden, and jersey ad patches are slated to premiere in 2023. Uniform sponsorships are estimated to be worth $11 million per MLB team, according to Nielsen. Asked about the accuracy of that figure, Garden said Nielsen’s estimation is “probably right, but they can be even higher in cases because your packaging in more rights than just the patch within some sponsorships.”
    The Capital One deal, which doesn’t come as a surprise, will add to MLB’s sponsorship haul. In 2021, MLB’s sponsorship revenue rose to roughly $1.7 billion from about $1 billion during the Covid-shortened 2020 season, people familiar with the matter told CNBC. The league reaped more than $900 million in 2019, according to sponsorship valuation firm IEG. MLB has more than 1,600 sponsorships on the national and local levels, the firm said.
    Garden lauded Capital One’s sports promotions and its commercials featuring star actor Samuel L. Jackson, saying that they’re “always fun” and that “fans seem to like them.”

    “Gone are the days when you take an MLB logo and slap it on a commercial,” he added. “We want partners that lean in, that reach our fan base, and that offer unique and exciting programs that activate in a big way.”

    Inside MLB’s Capital One agreement 

    Capital One takes over from Bank of America, which had MLB’s bank promotion rights since 2015 after becoming a league partner in 2004, according to IEG. The firm estimated the agreement paid MLB more than $10 million in the 2021 season. 
    This agreement is much different than the BofA pact. For instance, Capital One will get premium signage around the World Series. Its brand logo will be featured on the field, the third and first base bags, in virtual signage behind home plate and on the pitcher’s mound. The last time MLB had a presenting sponsor for the World Series came in 2019 when Alphabet unit YouTube TV owned the rights.

    A man stands at the window of an office at a Capital One bank in New York City.
    Johannes Eisele | AFP | Getty Images

    “The World Series is our jewel event,” said Garden. “That’s going to be the tentpole of our relationship.”
    The agreement also comes as MLB tries to bolster its viewership numbers after the pandemic took a toll on the sport.
    The 2021 World Series featuring the Atlanta Braves and Houston Astros averaged 11.75 million viewers. That’s up from the 2020 World Series, when the Los Angeles Dodgers won their first championship since 1988. That series averaged 9.7 million viewers. 
    Both six-game series were down from pre-pandemic levels.
    The 2019 World Series featuring the Astros and Washington Nationals averaged roughly 13 million viewers throughout seven games, with the final contest attracting 23 million viewers. The five-game 2018 World Series between the Boston Red Sox and Dodgers averaged 14 million viewers. The Astros’ 2017 World Series win against the Dodgers attracted an average of 18.9 million viewers over seven games.
    Capital One will use its MLB relationship to offer benefits for cardholders around top MLB events, including the All-Star Game, Home Run Derby and 2022 Field of Dreams game. The company will also sponsor events at the Little League level, college, MLB minor league games and support the Jackie Robinson Foundation.
    This MLB partnership comes weeks before the 75th anniversary of Robinson breaking the color barrier in the league. MLB will celebrate the historic moment on April 15, and Capital One said it would commit a minimum of $250,000 to the foundation for the 2022 season.

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    China is shutting down Shanghai in two phases to control Covid

    Shanghai, a city of 26 million people on the southeastern coast of China, is a hub for finance and international business in the country.
    Municipal authorities ordered half of the city to lock down for mass virus testing from Monday to Friday morning.
    Shanghai International Port Group, which manages the city’s ports, said in an online statement Monday production units generally maintained 24-hour operations.

    Health workers wearing protective gear as a measure against the Covid-19 coronavirus walk down a street in Jing’an district in Shanghai on March 26, 2022.
    Hector Retamal | Afp | Getty Images

    BEIJING — China’s biggest city Shanghai began a two-stage lockdown Monday as authorities attempt different strategies to maintain growth, while trying to control the country’s worst Covid-19 outbreak since the pandemic began.
    Shanghai, a city of 26 million people on the southeastern coast of China, is a hub for finance and international business in the country. The city is also home to the world’s largest container-shipping port.

    The Shanghai Stock Exchange remains in operation. The exchange announced Sunday night that stock issuance applications and other paperwork can be done online, with deadline relaxations as needed.
    The city-wide lockdown measures include orders to work from home as well as the suspension of public transit and ride hailing, Shanghai city announced Sunday night. Previously, only specific neighborhoods had faced temporary lockdowns to control pockets of outbreaks.
    The initial phase will run from Monday to Friday morning and apply to the eastern part of the city where the financial center is, the city said. The second phase will apply to the western part of the city, and run from Friday morning to the afternoon of the following Tuesday, April 5, municipal authorities said.
    “The lockdown and mandatory testing district by district in China’s largest city, key transportation hub and financial center are highly likely to disrupt the city’s commercial activity,” said Bruce Pang, head of macro and strategy research at China Renaissance.
    “We think that in the near term, China will stick to its zero-tolerance approach, pursuing [its] zero-Covid position as one of the world’s strictest virus elimination policies,” Pang said.

    Tesla, whose Shanghai factory is located in the area covered by the first stage of the lockdown, reportedly halted production for at least a day on Monday, according to Bloomberg, citing sources. The electric car company did not immediately respond to CNBC’s request for comment.

    The emergence of the highly transmissible omicron variant has made controlling outbreaks harder and increased uncertainty for business operations. Local governments across China have attributed the latest wave of cases to the omicron subvariant BA.2.
    China has stuck to a strategy of lockdowns and quarantines to control Covid outbreaks, while maintaining economic growth. The policy helped the country rebound from the initial shock of the pandemic in early 2020, with relatively few infections and deaths compared with other parts of the world.
    This time around, economists don’t expect lockdowns that last only a week or so to have a major impact on the national economy for the full year. Travel restrictions and stay-home measures affect consumer spending and services more than factory production, since workers can often stay on-site at industrial parks.

    Using targeted measures

    In Shanghai, officials have emphasized in the last few weeks how the city would not lock down and instead use a neighborhood-specific approach. Even in Sunday’s announcement, the city claimed the two-part lockdown was for conducting virus tests in batches.
    Shanghai International Port Group, which manages the city’s ports, said in an online statement Monday that other than for extreme weather, production units maintained 24-hour operations.

    CNBC Health & Science

    Read CNBC’s latest global coverage of the Covid pandemic:

    And rather than a blanket ban on travel in and out of Shanghai during the two-stage lockdown, authorities said people in the city wanting to leave — by highway, train or airplane — will need a negative virus test within 48 hours of departure.
    Shanghai’s two airports, including one focused on international travel, and three train stations are still operating normally, the municipal transportation authority said Monday morning.

    Surge in cases with no symptoms

    New confirmed cases in the city have remained elevated, with even higher numbers of asymptomatic cases.
    Shanghai reported 3,450 asymptomatic cases for Sunday, the most for any province-level region in mainland China. The city reported 50 new confirmed Covid cases for that same day.
    All 3,500 affected individuals are in isolated treatment or isolated medical observation, the city said.
    The latest update on March 15 to the national policy for Covid prevention and control said mild and asymptomatic cases can be managed at quarantine centers, rather than needing hospital care which would add to China’s already stretched health-care system.

    Read more about China from CNBC Pro

    Nationwide, the northern province of Jilin accounts for most of the new confirmed locally transmitted cases — 1,086 of the 1,219 reported for the mainland on Sunday. Although the latest Covid wave has touched provinces across China, the number of new confirmed cases a day in most regions is below 10.
    The capital city of Beijing reported no new locally transmitted confirmed cases or asymptomatic cases for Sunday.
    In an indication of how authorities are trying to limit cross-country travel, China’s national railway operator announced Saturday that travelers would not be able to book tickets for April 8 or future dates. Sales for those later times are set to resume April 2, the railway operator said.

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    What it’s like to travel to Australia right now

    CNBC Travel

    Australia’s rigid pandemic border policies led some to wonder if international travelers would still want to visit.
    It appears they do.

    Four weeks after the country opened to vaccinated visitors, international flight bookings are nearly half (49%) of pre-pandemic levels, according to the travel technology company Travelport.
    CNBC Travel went to the land “Down Under” to answer common questions about traveling to Australia.

    Is it hard to fly into Australia right now?

    On average, fewer than 500 weekly international flights landed in Australia in March — down from 2,000 in March 2019 — according to Tourism Australia.
    However, international flights are expected to double in the next three months, mainly from Singapore, New Zealand, Indonesia and Hong Kong, according to Tourism Australia.

    A rise in supply normally leads to cheaper flights, but Qantas this month indicated airfare is likely to rise as a result of increased oil prices stemming from the Ukraine-Russia war, Reuters reported.

    What do I need to enter?

    Australia is currently welcoming vacationers who can show:

    An overseas vaccination certificate — unvaccinated travelers need an exemption or must quarantine in a facility for one week
    A Digital Passenger Declaration completed no earlier than one week, but no later than 72 hours, before departing
    A negative Covid-19 test result — PCR and self-administered rapid antigen tests (called “Rat” tests in Australia) supervised by online advisers are accepted
    A valid passport and tourist visa

    Travelers should also check the entrance rules for the state or territory where they are landing for additional requirements.

    What happens once I reach Australia?

    Since most documents are checked during the departure process, landing is Australia is surprisingly easy.
    During a trip to Melbourne last week, I only needed to show my passport and arrival card, the latter of which I filled out on the plane.

    The hardest part about going to Australia is the preparation, not the travel itself, several travelers told CNBC.
    James O’Neil | The Image Bank | Getty Images

    New Zealander Debbie Wong said this echoed her experience traveling to the state of Queensland in February.
    “The process was faster than pre-Covid times as there were less people at the airport,” she said. “What used to take us over an hour pre-Covid was completed within 20 minutes.”
    Wong, who has flown from Singapore to Australia twice since last summer, described the process as “incredibly smooth.”
    Wong’s husband, Wes Johnston, took a business trip to Sydney two weeks ago.
    “I didn’t have to show anything Covid-related,” he said.

    Do I have to self-isolate or quarantine?

    Yes — but most likely only for a few hours. 
    States such as New South Wales, Victoria and Queensland require travelers take a Covid test within 24 hours of arriving in Australia. Visitors must isolate at home or in a hotel until they test negative.
    These states accept rapid antigen tests, too. I packed one in my luggage and self-administered it at my hotel. If the test was positive, I’d have had to report the result and isolate for seven days. Since it was negative, I was free to start my trip.

    Do I have to wear a mask?

    The answer depends on the state you visit and what you plan to do.
    In Melbourne and Sydney, masks are no longer required in most settings. However, Victoria (home to Melbourne), asks that people carry one when they leave their homes.
    In both places, masks are required on public transportation, including flights, taxis and rideshare services. An Uber driver in Melbourne told me that, because he takes care of his 83-year-old mother, he kicks out non-compliant riders and cancels their bookings.
    Other Melburnians were more relaxed about masks. Restaurants and cafe workers are required to wear them, which most did — under their chins.

    It was like Covid didn’t exist.

    Wes Johnston
    on traveling to Sydney in March

    Wong said she saw the same thing in Noosa, a resort town on Queensland’s Sunshine Coast.
    “Staff were often without masks or they were pulled down under the chins,” she said of her trip in February. Yet “outside of hospitality, most people abided by the rules.”
    Policies in Queensland have since changed, and masks are no longer required in social and retail settings. But travelers to Western Australia — home to Perth and the Margaret River wine region — should note that even after relaxed rules take effect on March 31, masks are required in all indoor settings, other than at home.

    Do I have to show I’m vaccinated to eat in a restaurant?

    Again, it depends — and in some cases, on the particular establishment that is visited.
    In Sydney, most places are open to everyone, vaccinated or not.
    Johnston said he never wore a mask in Sydney, not in restaurants or in his workplace, nor was he ever asked to show his vaccination status.
    “It was like Covid didn’t exist,” he said.

    A masked spectator has her proof of vaccination verified before entering the A-League Men’s match between Perth Glory and Central Coast Mariners at HBF Park on March 15, 2022, in Perth, Australia.
    Paul Kane | Getty Images Sport | Getty Images

    Compare this with Western Australia, which requires proof of vaccination to enter restaurants, indoor entertainment venues, attractions, stadiums, gyms and amusement parks.
    In Melbourne, I was often asked to show my vaccination status, which I did via a government app from Singapore, where I live. Wong said she carries a physical copy of her vaccination certificate in Queensland, though she said the rule wasn’t strictly enforced in some places.
    “Some cafes and restaurants had signs up to say that they did not differentiate between people and they accepted everyone — in clear violation of the rules,” she said.

    Will Covid affect my trip even if I don’t get sick?

    It might. From using QR codes to check into businesses to discovering your favorite cafe has permanently closed, there are constant reminders of how the pandemic has changed the Australian travel experience.
    A shopkeeper in the trendy Melbourne neighborhood of Carlton told me things were quieter than before the pandemic, before saying “though I really don’t remember what ‘normal’ feels like anymore.”
    “Help wanted” signs were ubiquitous in the state of Victoria. One restaurant manager in the small town of Olinda said she couldn’t open the entire restaurant — not because of social distancing — but for lack of staff.

    Before opening to vaccinated leisure travelers last month, Australia welcomed vaccinated backpackers in the hopes they would help alleviate labor shortages in agriculture and other sectors caused by the country’s closed border Covid policies.
    David Gray | Bloomberg | Getty Images

    Nearby, the Blue Hills Berries & Cherries farm, located near the Yarra Valley wine region, shuttered its entire picking season this year because of the “uncertainty surrounding visitation and predicted labour shortage(s),” according to its website.
    Australia, like the United States and Europe, is suffering a severe shortage of workers in the tourism and hospitality industries. Earlier this year, it launched an ad campaign and visa refund program to attract long-stay visitors to alleviate worker shortfalls in agriculture and other sectors. More

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    Stock futures edge lower ahead of a big week of economic data

    Traders on the floor of the NYSE, March 25, 2022.
    Source: NYSE

    Stock futures were slightly lower Sunday evening as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve’s planned interest rate hikes.
    Futures tied to the Dow Jones Industrial Average moved lower by 58 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures each fell 0.1%.

    The Dow and S&P rose in the previous session to close out their second consecutive winning week. The Dow gained 153 points, or 0.4%. The S&P 500 advanced 0.5% and has more than erased its losses since Russia invaded Ukraine in late February. Meanwhile, the Nasdaq Composite dipped 0.2% but still finished the week in the green.
    The moves came as investors continue to monitor developments in Russia’s war on Ukraine and expectations about the Fed’s plans to hike interest rates.
    “It seems the skyrocketing move higher with commodity prices has taken a break and that has allowed investors a chance to pile back into equities,” said Edward Moya, senior market analyst at Oanda. “Geopolitical risks remain very elevated and the rally in equities over the past two weeks is impressive. The U.S. economy is still in good shape, but buying every stock market dip probably won’t be the attitude for most traders going forward given how hawkish the Fed has turned.”

    Stock picks and investing trends from CNBC Pro:

    Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.
    On Friday, the benchmark 10-year yield touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle, which helped lift financial stocks while tech stocks pulled back.

    Investors are looking forward to the Job Openings and Labor Turnover Survey, or JOLTS, this week. The JOLTS report is one set of employment data that the Federal Reserve is watching closely as it tightens monetary policy. ADP will also release its private payrolls data ahead of the main show, the closely watched monthly jobs report, on Friday.
    Monday is a light day for earnings reports but several big companies are scheduled to report their quarterly results this week, including BioNTech, Micron and Walgreens Boots Alliance.

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