5 things to know before the stock market opens on Tuesday, June 7 – Westside People

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

Traders work on the floor of the New York Stock Exchange, June 6, 2022.

Source: NYSE

A person walks past a Target store in Washington, D.C., on May 18, 2022.

Stephanie Reynolds | AFP | Getty Images

target warning On Tuesday, those profits will take a short-term hit as the retailer notes unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory. Target expects operating margin for the second quarter of the fiscal year to be around 2%. That’s below expectations it gave less than three weeks ago when it reported a bigger profit loss in its fiscal first quarter, sending the stock down nearly 25% in its worst one-day performance on Wall Street since 1987.

The Kohl logo is displayed on the outside of Kohl’s store on January 24, 2022 in San Rafael, California.

Justin Sullivan | Getty Images

kohl Shares rose nearly 10% in the market on Tuesday, in the morning after the supermarket chain said that I entered into exclusive sale negotiations With the retail contract behind The Vitamin Shoppe and Pet Supplies Plus. franchise group It suggests buying Kohl’s for $60 per share, more than a 40% premium to Monday’s close. franchise group It’s working with Oak Street Real Estate Capital to fund the deal mostly through real estate, according to a person familiar with the matter.

Janet Yellen, US Treasury Secretary, delivers the Tommaso Padua-Sciopa lecture at the Brussels Economic Forum in Brussels, Belgium, on Tuesday, May 17, 2022.

Valeria Mongli | Bloomberg | Getty Images

Ahead of Friday’s reading of consumer prices for May, inflation is taking center stage on Capitol Hill this week as Treasury Secretary Janet Yellen He testifies before the Senate Committee on Tuesday and the House Committee on Wednesday. Yellen, former Federal Reserve Chair, faces tough questions on how the Biden administration is handling the economy after it was wrong about inflation being temporary. High inflation forty years ago pushed the national average gallon of gas to another record, just 8 cents shy of $5, According to AAA.

The US Capitol Building in Washington, DC

Liu Ji | Xinhua News Agency | Getty Images

Sense. Kirsten Gillibrand, DN.Y. , and Cynthia Loomis, Republican of UW, on Tuesday a statement A bipartisan bill to create a regulatory framework around encryption. The Lummis-Gillibrand bill, the product of months of collaboration on Capitol Hill, amounts to classifying the vast majority of digital assets as commodities. The Responsible Financial Innovation Act would enable the CFTC to regulate most existing digital assets. Lummis and Gillibrand would like to work on developing their case into blockchain and crypto havens.

– CNBC channel Tanaya MachelAnd the Melissa RybkoAnd the Lauren Thomas And the Thomas Frank As well as Reuters contributed to this report.

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