Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, October 17, 2022.
Brendan McDermid | Reuters
Here are the most important news items that investors need to start their trading day:
1. A real rally, or not?
Stocks had a great day to start the week. The Dow surged 550 points, and the S&P 500 jumped over 2.6%. But Monday was especially kind to the Nasdaq, which rose 3.4% to notch its best day since way back in late July. Can this last, though? Futures on Tuesday morning indicated we could be in for more gains. So far, companies have delivered decent earnings reports, and, after creating so much market turmoil with a tax-cut-heavy economic plan, the UK government has reversed course (even if the prime minister is in the hot seat). But nothing is simple as long as inflation remains high and the Fed is dead set on hiking rates to cool prices. “I think this is going to be one of those bear market rallies that has people scratching their heads,” Guy Adami, director of advisor advocacy at Private Advisor Group, said on CNBC’s “Fast Money.” Follow live market updates here.
2. Microsoft confirms layoffs
Microsoft CEO Satya Nadella speaks during the Microsoft Annual Shareholders Meeting at the Meydenbauer Center on November 28, 2018 in Bellevue, Washington. Microsoft recently surpassed Apple, Inc. to become the world’s most valuable publicly traded company.
Stephen Brashear | Getty Images News | Getty Images
Microsoft laid off more employees as the tech giant…
