Home Business 5 things to know before the stock market opens Tuesday, January 3

5 things to know before the stock market opens Tuesday, January 3

5 things to know before the stock market opens Tuesday, January 3


A worker cleans the street after the first public New Year’s event since the Covid pandemic, at Times Square, in the Manhattan borough of New York City, New York, U.S., Jan. 1, 2023.

Andrew Kelly | Reuters

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

1. New year, new market?

2. Tesla falls short

New Model Y electric vehicles are parked in the early morning in a parking lot outside the plant of the US electric car manufacturer Tesla.

Patrick Pleul | Picture Alliance | Getty Images

Tesla said it delivered 405,278 new vehicles during the fourth quarter, capping off a year during which the EV maker saw 40% overall growth in deliveries. But that fourth quarter number came in well below what analysts were expecting. In fact, measured against the range of estimates included in the FactSet consensus – 409,000 to 433,000 – it came in lower than the lowest end of the range. Tesla’s stock fell dramatically last year as legacy automakers started ramping up their own EV production and CEO Elon Musk sold large chunks of stock and focused much of his attention on his chaotic takeover of Twitter. Tesla has also suffered from Covid-related slowdowns in China. Musk, meanwhile, has told Tesla employees not to pay too much attention to the market. “Long-term, I believe very much that Tesla will be the most valuable company on Earth!” he wrote in a recent email.

3. Retail’s big January

Here are the post-holiday shopping trends to watch in January

The retail industry is on edge over how it will do in … January? Usually a time for shoppers to return items or spend gift cards they received over the holidays, the first month of the year is often mostly an afterthought as many retailers close out their biggest quarter. This year is different, though, as CNBC’s Melissa Repko points out. The verdict on the holiday shopping season isn’t settled, so companies are hoping to attract shoppers with more deals in January to push sales higher. It’s also an important month for clearing out excess inventory, which was a big problem last year, cutting into chains’ profit margins. In 2023, with a potential economic slowdown pending and shoppers getting choosier, it’ll be crucial for retailers to get their inventory right.

4. Turmoil in Russia

Soldiers of the 59th brigade of the Ukrainian Armed Forces fire grad missiles on Russian positions in Russia-occupied Donbas region on December 30, 2022 in Donetsk, Ukraine. Russia has tried to expand its control there since it invaded Ukraine.

Pierre Crom | Getty Images News | Getty Images

5. Shocking scene on ‘Monday Night Football’

Buffalo Bills players kneel after teammate Damar Hamlin #3 collapsed following a tackle against the Cincinnati Bengals during the first quarter at Paycor Stadium on Jan. 2, 2023 in Cincinnati, Ohio.

Kirk Irwin | Getty Images Sport | Getty Images

The sports world froze in shock Monday night after Buffalo Bills safety Damar Hamlin collapsed on the field and paramedics worked to keep him alive. The incident occurred during a hotly anticipated NFL “Monday Night Football” matchup between the Bills and the Cincinnati Bengals on Disney’s ESPN. After making a tackle, Hamlin stood up, only to promptly fall down as he suffered cardiac arrest. The 24-year-old defensive back was taken to the hospital and listed in critical condition. The game was postponed. Grisly injuries are commonplace in football, but Hamlin’s affliction felt particularly chilling as the situation unfolded on live television. “I’ve never seen anything like it since I was playing,” said NFL executive Troy Vincent, who played in the league from 1992 to 2006.

– CNBC’s Tanaya Macheel, Lora Kolodny, Melissa Repko and Natasha Turak contributed to this report.

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