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5 things to know before the stock exchange opens on Wednesday 19 January

Here are the key news, trends and analyzes that investors need to start their trading day:

1. Wall Street looks higher in the premarket after the fall of the Nasdaq

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, January 18, 2022.

Brendan McDermid | Reuters

U.S. stock futures rose as investors earned better-than-expected earnings while digesting the 10-year government yield that peaked at 1.9% early Wednesday. Rising bond yields to more than two-year highs hit tech stocks again on Tuesday, sending the Nasdaq down 2.6% to its lowest close in three months. The index ended in the correction range, down more than 10% from its highest intraday ever in November. The Dow Jones Industrial Average and the S&P 500 fell 1.5% and 1.84%, respectively, on Tuesday. Both the Dow and S&P 500 reached record highs earlier this month. They have fallen more than 4% and 5% each from these levels. The government is out with the start of housing in December and building permits at. 8:30 ET.

2. BofA, Morgan Stanley, P&G, UnitedHealth rise on earnings beats

Bank of America before Wednesday topped estimates of profit on record-breaking quarterly asset management and investment banking fees, and when the firm released $ 851 million in reserves. Revenue for the fourth quarter fell slightly above estimates. BofA shares rose about 3% in the premarket.

Morgan Stanley delivered a better quarterly result than expected on Wednesday. Like BofA, Morgan Stanley also lived just below fourth-quarter revenue expectations. Shares of Morgan Stanley rose about 2.5% in the pre-market.

Dow stock Procter & Gamble reported earnings and revenue in the second quarter early Wednesday, exceeding expectations as price increases helped offset higher commodity and freight costs. The consumer goods giant also increased its sales forecast for the full year. P&G shares rose more than 1% in the pre-market.

UnitedHealth, which is also a Dow component, posted better-than-expected fourth-quarter profits and revenue, helped in part by the growth of its Optum unit, which includes its drug benefits administration. UnitedHealth shares rose modestly in the pre-market.

Biden is holding a press conference to mark 1 year during his presidency

US President Joe Biden comments on "how the two-tier infrastructure law will rebuild America's bridges," at the South Court Auditorium in the White House in Washington, USA, January 14, 2022.

Kevin Lemarque | Reuters

President Joe Biden is scheduled to hold a press conference Wednesday afternoon, on his 365th day in office. Biden will update Americans on its long legislative to-do list and fight Covid, while the omicron variant continues to increase the number of new cases. Next week, the Biden administration will make 400 million N95 masks available free of charge at pharmacies and local health centers. A federal government website for Americans to order free Covid tests is set to launch Wednesday. In the site's test phase on Tuesday, many people were able to place orders, while others experienced issues.

4. Verizon, AT&T launches 5G, agrees to delay service at some airports

Workers install equipment on a 5G cell tower in Salt Lake City, Utah, USA, on Tuesday, January 11, 2022.

George Frey | Bloomberg | Getty Images

On Wednesday, Verizon and AT&T turned on a major new segment of their 5G network, the culmination of a years-long process that will bring noticeably faster mobile service across large parts of the nation. The providers agreed to postpone the 5G service near some US airports. However, several foreign airlines are still canceling flights to the United States due to 5G interference issues at airports with next-generation mobile service. Dubai-based Emirates said: "We hope to resume our US services as soon as possible."

5. SoFi rises in the air after clearing regulatory hurdle to become a bank

Anthony Noto, CEO of SoFi

Adam Jeffery | CNBC

San Francisco-based SoFi cleared its last regulatory hurdle to become a bank, and its shares rose more than 18% in Wednesday's premarket. The mobile-first-financing company offers banking products. But it is technically not a bank. Like many fintech companies, it relies on partnerships with FDIC-insured banks to hold customer deposits and issue loans. To become a bank, SoFi plans to acquire a California community lender. The Fintech company went public last year in a SPAC merger.

- The Associated Press and Reuters contributed to this report. Follow all the marketing action like a pro CNBC Pro. Get the latest news about the pandemic CNBC's coverage of coronavirus.


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