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5 things to know before the stock market opens Monday

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November 15, 2021
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Here are the most important news, trends and analysis that investors need to start their trading day:

Dow set to jump 100 points after breaking 5-week winning streakRetail earnings to reveal how consumers feel about economy, inflationBiden plans to sign $1 trillion infrastructure bill, names coordinatorTaiwan may supplant tariffs, supply chain disruptions at Biden-Xi summitApple sticking taxpayers with part of the bill for rollout of digital ID card

1. Dow set to jump 100 points after breaking 5-week winning streak

Markets were higher after new Labor Department numbers showed that nonfarm payrolls increased by 531,000 for the month of October.

Spencer Platt/Getty Images

U.S. stock futures rose Monday, with the Dow indicated to open more than 100 points higher. Wall Street ended on a strong note Friday but snapped a five-week winning streak. The Dow Jones Industrial Average rose nearly 180 points, or 0.5% on Friday. The S&P 500 gained about 0.7% and the Nasdaq added 1%. However, those gains were not enough to overcome the selling after last Wednesday’s hottest consumer inflation report in more than 30 years. For the week, the Dow fell 0.6%; the S&P 500 dipped 0.3% and the Nasdaq dropped about 0.7%. As of Friday’s close, all three stock benchmarks were each less than 1% away from their record closes one week ago.

2. Retail earnings to reveal how consumers feel about economy, inflation

A shopper carries a bag outside a Walmart store in San Leandro, California, on Thursday, May 13, 2021.

David Paul Morris | Bloomberg | Getty Images

There’s a long list of retail earnings that will provide a glimpse into how American consumers feel about spending their money and whether they’re becoming more frugal as prices soar. Investors also hope to get a sense of what these companies, including Walmart on Tuesday and Target on Wednesday, expect heading into the holiday shopping season. The government’s October retail sales data Tuesday is the big economic report for the week. Based on the latest consumer sentiment data Friday, shoppers are getting worried about rising prices.

3. Biden plans to sign $1 trillion infrastructure bill, names coordinator

U.S. President Joe Biden delivers a speech during a visit to the Port of Baltimore, Maryland, November 10, 2021.

Evelyn Hockstein | Reuters

President Joe Biden on Monday is set to sign the $1 trillion infrastructure bill that passed the House and Senate with bipartisan support. One day before the signing ceremony, the White House announced that Mitch Landrieu, formerly the mayor of New Orleans, would coordinate implementation of the spending. The president plans to go to New Hampshire on Tuesday to visit a bridge on the state’s so-called red list for repair and to Detroit on Wednesday for a stop at General Motors’ electric vehicle assembly plant. Biden began selling the plan to the broader public with a trip last week to the Port of Baltimore.

4. Taiwan may supplant tariffs, supply chain disruptions at Biden-Xi summit

Chinese President Xi Jinping shakes hands with U.S. Vice President Joe Biden (L) inside the Great Hall of the People in Beijing December 4, 2013.

Lintao Zhang | Reuters

Two issues dominating the U.S.-China economic relationship, tariffs and supply chain woes, will take a backseat Monday to more pressing security concerns when Biden holds a virtual summit with Chinese President Xi Jinping. Instead, rising tensions between mainland China and Taiwan are likely to be a priority for the United States. Biden intends to discuss China’s human rights record at the meeting. The two sides also want to highlight areas of cooperation at the climate conference in Glasgow, Scotland, including a surprise joint agreement to set new targets for scaling back fossil fuel consumption.

5. Apple sticking taxpayers with part of the bill for rollout of digital ID card

Wallet and keys

Source: Apple

Apple is making U.S. states pay part of the bill and provide customer support for its plan to turn iPhones into digital identification cards, according to confidential documents obtained by CNBC. The tech giant announced in June that its users could soon store state-issued identification cards in the iPhone’s Wallet app. Georgia and Arizona are set to be the first states to offer driver’s licenses on the Wallet app, but they have yet to launch their programs. Critics questioned such a relationship requiring taxpayer money that ultimately benefits Apple and its shareholders by making the company’s devices even more essential.

— 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.

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