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5 things to know before the stock market opens Friday, November 11


Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 9, 2022. 

Brendan Mcdermid | Reuters

Here are the most important news items that investors need to start their trading day:

1. Stock blowout

2. Fed officials weigh in

Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015.

Lucas Jackson | Reuters

Federal Reserve officials also liked seeing inflation slow down a bit, although they’re still prepared to keep monetary policy tight. “With inflation still elevated and likely to persist, monetary policy clearly has more work to do,” Kansas City Fed President Esther George, a voting member of the rate-setting Federal Open Market Committee, said Thursday. Another voting member, Cleveland Fed President Loretta Mester, sounded hawkish, as well. “Despite the moves we have made so far, given that inflation has consistently proven to be more persistent than expected and there are significant costs of continued high inflation, I currently view the larger risks as coming from tightening too little,” she said Thursday.

3. China eases Covid limits

China’s Covid outbreak is at its worst in about half a year. Residents of Hohhot, Inner Mongolia, are pictured here lining up for regular virus testing in their community on Nov. 10, 2022.

Future Publishing | Future Publishing | Getty Images

China’s “zero Covid” policy, which has weighed on business and economic growth, is getting a little looser. The nation reduced its quarantine time for international visitors by two days, while also limiting contact tracing only to close contacts with people who are infected with the virus. Hong Kong’s Hang Seng index jumped after the news, as did travel and casino stocks. The news also comes ahead of Monday’s scheduled meeting between Chinese leader Xi Jinping and U.S. President Joe Biden, the first face-to-face talk between the two since Biden was inaugurated. They are expected to discuss tensions over trade, technology competition and Taiwan, among other issues.

4. Capital market comeback

David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.

Adam Galacia | CNBC

5. How big will ‘Wakanda Forever’ be?

Letitia Wright stars as Shuri in Marvel Studio’s “Black Panther: Wakanda Forever.”

Disney

“Black Panther: Wakanda Forever” is arriving just as Disney could really use some good news. The Mouse House’s stock tanked earlier this week after a disappointing earnings report that missed expectations in just about every way. The new sequel, which critics are calling an overstuffed but otherwise moving tribute to late star Chadwick Boseman, is poised to have a monster opening weekend in North America. Analysts say it could rack up $200 million, which would be the most lucrative opening frame for a movie this year. The movie is well-positioned to dominate at the box office for weeks to come. In another bright spot for Disney, the company is also behind the two remaining major theatrical releases of 2022: The animated family adventure “Strange World,” due Thanksgiving week, and December’s “Avatar: The Way of Water,” director James Cameron’s long-awaited sequel to his 2009 mega-blockbuster.

– CNBC’s Tanaya Macheel, Jeff Cox, Evelyn Cheng, Amanda Macias, Krystal Hur and Sarah Whitten contributed to this report.

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