5 things to know before stock markets open on Wednesday, November 16

Traders work on the floor of the New York Stock Exchange (NYSE) in New York on November 15, 2022.

Brendan McDermidt | Reuters

Here are the most important news for investors to start their trading day:

1. We can do wholesale trade for you

2. Holiday warning of destination

The exterior of a Target store in Los Angeles, California before the start of business on August 17, 2022.

Robin Beck | AFP | Good pictures

Good news? target Great progress was made in removing piles of unnecessary inventory. The bad news? The cost of doing so through markdowns and other means, It is heavily weighted in its profits The most recent quarter resulted in a roughly 50% year-over-year decline. The ugly news? Even with all those clearance items, Target said it saw a slowdown in sales at the end of October. That forced the company to lower its expectations for the holiday-shopping quarter — the most important time of year for retailers. After rival Walmart’s positive earnings report on Tuesday, the pressure on Target and CEO Brian Cornell is now even more intense.

3. Amazon begins job cuts

Amazon CEO Andy Jassy speaks with CNBC’s John Fort.

CNBC

Amazon Employees began to be laid off This week, after media reports said the e-commerce behemoth would cut 10,000 jobs. The first wave of layoffs hit the company’s Alexa business and its Luna cloud gaming unit, according to LinkedIn posts by employees who said they were affected by the moves. Amazon is also expected to cut the number of employees in its retail and human resources departments. The Amazon job cuts come as other tech companies are also pulling back. Twitter, Facebook, Salesforce and other companies have announced layoffs in recent weeks after huge growth in the early days of the pandemic.

4. Missile kills two in Poland

Smoke rises in the distance amid reports of two explosions from Novosiolki, Poland, near the border with Ukraine on Nov. 15, 2022, in this image obtained from social media.

My Nowosiolki association | via Reuters

A missile Killed two people Tuesday in Poland, about 15 miles from the border with Ukraine, immediately fueled concerns that Russia’s war against its former Soviet neighbor could spill over into Europe. But NATO Secretary General Jens Stoltenberg said it was possible caused by a Ukrainian defense missile. Poland’s President Andrzej Duda also immediately tried to cool the situation. “What happened was an isolated incident,” he said. “There’s no indication that’s going to happen any more.” Read live battle announcements Here.

5. Despite everything Trump is running again

Former US President Donald Trump speaks outside a polling station during the midterm elections on November 8, 2022 in Palm Beach, Florida.

Ricardo Arduengo | Reuters

Donald Trump’s repeated false claims that the 2020 election was stolen prompted hundreds of his supporters to storm Congress in a violent riot on January 6, 2021. Running for president again. The twice-impeached former president’s announcement came after his pro-candidates and fellow dissidents lost in last week’s midterm elections. Republican megadonor And other top GOP figures distance themselves from him, calling him a burden to the party. He is under federal criminal investigation into whether he illegally took highly sensitive national security documents from the government. His company, the Trump Organization, A criminal investigation is being conducted in New York. And his other venture, Truth Social’s parent Trump Media and Technology Group, An investigation is also being conducted By federal prosecutors and regulators.

– CNBC’s Samantha Subin, Melissa Repko, Annie Palmer, Ted Kemp, Holly Elliott, Christina Wilkie and Brian Schwartz contributed to this report.

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