5 things you need to know before the stock market opens on Friday, November 12

Read Time:4 Minute, 16 Second

Here are the most important news, trends and analysis investors need to start a trading day:

1. Johnson & Johnson stock price rises due to the split plan, the Dow will rebound

Trader at the New York Stock Exchange, October 28, 2012.

Source: New York Stock Exchange

US stock index futures rose on Friday, benefiting from the pre-market strength of the Dow Jones index component Johnson & Johnson’s plan to split into two companies. After the Veterans Day holiday, the U.S. bond market started to rebound on Friday, and the 10-year U.S. Treasury bond yield rose slightly to 1.57%, which continued to rise after the hot inflation data this week. The government will release its job vacancy and labor mobility survey at 10 am Eastern Time. JOLTS in September is expected to show that job vacancies fell to 10.2 million after 10.4 million in the previous month, driven by record turnovers. The Nasdaq and S&P 500 rebounded on Thursday. However, the Dow Jones Industrial Average fell for the third consecutive trading day, dragged down by Disney’s disappointing quarterly performance drop of 7%. Disney stocks in the Dow Jones Index rose slightly before the market on Friday.

2. Johnson & Johnson split into two companies: consumer products, medical

Johnson & Johnson logo

SOPA Image | Light Rocket | Getty Images

After the healthcare giant announced on Friday that it would split into two listed companies, Johnson & Johnson’s stock price rose about 3% before the market: one focused on consumer products, such as bandages and baby powder, and the other focused on medical equipment and Medicines, including its Covid vaccine. Johnson & Johnson is already undergoing a major transformation, as CEO Alex Gorsky previously announced that he will step down in January. Joaquin Duato, appointed as Gorsky’s successor, will lead the new Johnson & Johnson company after the separation of the consumer division. The announcement is the second time this week that a major US company has revealed its intention to split itself. General Electric said on Tuesday that it plans to split into three companies, focusing on aviation, healthcare and energy.

3. The founder of Rivian, RJ Scaringe, has a market value of more than 2 billion U.S. dollars since the IPO

RJ Scaringe, founder and CEO of Rivian Automotive, delivered a speech after the launch of the R1S electric sports utility vehicle (SUV).

Bloomberg | Bloomberg | Getty Images

Rivian Automotive’s share price rose nearly 4% in premarket trading on Friday, a move that will allow the newly listed electric car manufacturer to rise 57% for two consecutive days. Since its debut on Wednesday, Rivian’s market value has climbed to US$105 billion, and CEO RJ Scaringe’s shares in the company he founded in 2009 are valued at US$2.2 billion. Compared with Tesla’s market value of more than $1 trillion, Rivian, who has Amazon and Ford as supporters, pales in comparison. On Thursday, Elon Musk, who is worth more than $275 billion, blasted his rivals, saying that high production and break-even cash flow would be the real test for Rivian.

4. Although Singles’ Day was suppressed by China’s suppression, sales still hit a record high

On November 11, 2021, during the Double Eleven Shopping Festival in Beijing, China, delivery workers sort packages at a temporary logistics station near the Central Business District (CBD).

Tingshu Wang | Reuters

During the Singles Day shopping event in China, Alibaba and JD.com’s sales on their platforms reached approximately US$139 billion, a record high. Singles’ Day used to be a 24-hour event, but now it has become a multi-day event, ending at midnight on November 11. Crack down on technology companies. As Chinese technology companies continue to face scrutiny by regulators and Chinese President Xi Jinping’s promotion of the so-called common prosperity, Singles’ Day this year has been slightly calmer.

5. President Xi further consolidates his leadership position in the second largest economy

Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, President of the State, and Chairman of the Central Military Commission delivered an important speech at the celebration of the 100th anniversary of the founding of the Communist Party of China in January 2021.

Ju Peng | Xinhua News Agency | Getty Images

Xi Jinping took another step, consolidating his control of China, the world’s second-largest economy, and advancing his vision of a powerful Chinese Communist Party-led system. On Thursday, he joined Mao Zedong and Deng Xiaoping as the country’s third leader, overseeing the “historical resolution” at the end of the much-watched CCP meeting. CCP officials called Xi Jinping a “helmsman” and “people’s leader” on Friday to show support for his continued leadership. These terms are the descriptions used in the cult surrounding Mao Zedong more than 50 years ago. Xi Jinping and US President Joe Biden are expected to hold a virtual meeting on Monday.

— Reuters contributed to this report.Follow all market behaviors like a professional CNBC Professional Edition. Get the latest information about the pandemic CNBC’s Coronavirus Report.

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