5 things to know before the stock market opens Wednesday, October 5

on Oct6
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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2022.

Brendan Mcdermid | Reuters

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

1. A stunning rebound

We’re two trading days into October, and we’ve already had two stunning stock market rallies. For the S&P 500, it was the best two days combined since March 2020, when the world was just starting to come to grips with the Covid pandemic. It’s quite the turnaround after September’s market rout, and as investors prepare for another round of big rate increases from the Federal Reserve. Companies start reporting third quarter earnings in earnest next week, as well. The rally is poised to run out of steam, at least for a morning. Futures were down across the board before trading opened Wednesday. Follow live market updates here.

2. New chapter in the Twitter saga

Musk moves ahead with Twitter deal in 13D filing

3. Streaming shuffle

4. Ukraine bears down

Ukrainian soldiers adjust their national flag atop a personnel armored carrier on a road near Lyman, in the Donetsk region, on Oct. 4, 2022.

Anatolii Stepanov | AFP | Getty Images

5. Global CEOs expect a brief recession

KPMG CEO Outlook survey finds 91% of execs believe a recession is ahead

And one more thing …

New York Yankees center fielder Aaron Judge (99) hits his 62nd home run to beat the Roger Maris home run record during the game between the Texas Rangers and the New York Yankees on October 4, 2022 at Globe Life Field in Arlington, Texas.

Icon Sportswire | Icon Sportswire | Getty Images

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