5 things to know before the stock market opens February 13, 2020


1. Dow to fall, Trump’s Fed picks on Capitol Hill, Tesla to issue more stock

Trader Michael Urkonis works on the floor of the New York Stock Exchange, January 28, 2020.

Bryan R Smith | Reuters

U.S. stock futures were pointing to declines at Thursday’s open, with Wall Street set to give back a large chunk of the prior session’s strong gains. The Dow Jones Industrial Average, S&P 500 and Nasdaq closed at record highs Wednesday. After two days of testimony by Federal Reserve Chairman Jerome Powell on Capitol Hill, the Senate Banking Committee holds a hearing for President Donald Trump‘s two picks to the Fed’s board of governors. Central bank critic Judy Shelton is likely to get more attention than fellow nominee Christopher Waller. The government said Thursday that consumer prices in January rose 0.1%, just half the monthly inflation increase that had been expected.

Meanwhile, Tesla shares, after surging recently, were under some pressure in the premarket Thursday after the electric auto maker announced a $2 billion common stock offering. CEO Elon Musk will buy as much as $10 million worth of stock in…

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