5 things you need to know before the stock market opens on Thursday, October 21

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

1. The Dow fell after setting an intraday record

Traders work on the trading floor of the New York Stock Exchange (NYSE) in New York City on October 20, 2021.

Bren Dank Demead | Reuters

2. Southwest and the U.S. reported adjusted losses but increased revenue

A Southwest Airlines Boeing 737 passenger plane arrived at Midway International Airport (MDW) in Chicago, Illinois, USA on Monday, October 11, 2021.

Luke Charrett | Bloomberg | Getty Images

Due to a boost from federal wage assistance, Southwest Airlines announced its third-quarter profit on Thursday. However, excluding one-time items, the carrier reported a loss of 23 cents per share. Revenue was also better than analysts expected. Earlier this month, Southwest Airlines canceled more than 2,000 flights, blaming the problem on air traffic control issues caused by bad weather in Florida and a shortage of personnel. The airline stated that the cost of cancellations and customer refunds was $75 million. Southwest Airlines’ stock price-which has risen only 6% this year-rose slightly before the market.

The pilot looked at the tail of the American Airlines plane and spoke at the Dallas-Fort Worth International Airport.

Mike Stone | Reuters

Because of federal wage support, American Airlines announced its third-quarter profit on Thursday. Excluding one-time items, American Airlines lost 99 cents per share. Revenue for the quarter was also better than expected. American Airlines stock-which rose nearly 24% in 2021-rose 1% before the market.

3. Tesla performed well in terms of profitability and revenue; delivered more cars

On April 26, 2021, a Tesla car is charged at the Tesla Supercharger in Corte Madera, California.

Justin Sullivan | Getty Images

Tesla’s share price-which rose more than 20% in 2021 and 100% in the past 12 months-fell 1% before the market on Thursday, which is the third quarter earnings reported by the electric car manufacturer And income is closest to expectations the next morning. Tesla’s vehicle deliveries have increased by approximately 73% over the same period last year. Despite mentioning various challenges, including semiconductor shortages and rotating power outages, Tesla reiterated its previous guidance that it expects to “achieve an average annual growth of 50% in car deliveries” over many years.

4. WeWork will be listed in the SPAC transaction at a much lower valuation

A panoramic view of WeWork’s flagship store on Weihai Road, Shanghai, China, April 12, 2018. WeWork, the world’s leading co-working space company, will acquire naked Hub, a Chinese competitor, for US$400 million. (Photo: Jackal Pan/Visual China Group via Getty Images)

ECG | Getty Images

WeWork will begin trading as a public company on Thursday. Two years ago, due to investor concerns about its business model and founder Adam Neumann’s management style, its highly anticipated IPO plan collapsed. After Neumann stepped down, Japan’s SoftBank, already a major investor, rescued the faltering WeWork. In March of this year, the office-sharing company agreed to merge and go public with BowX Acquisition, a special-purpose acquisition company. Its valuation of WeWork is 9 billion U.S. dollars, which is far from its high valuation of 47 billion U.S. dollars in 2019.

5. Trump announced plans to launch social media platforms, SPAC transactions

“True Social” homepage and application announcement. Former US President Donald Trump wants to establish an alternative social network. However, there is not much to see other than the announcement.

Christoph Dernbach | Photo League | Getty Images

Former President Donald Trump announced on Wednesday that he will launch his own media network, including a social media platform. The application appears to be the first project of Trump Media and Technology Group, which will be listed through the merger of SPAC and Digital World Acquisition. This is based on an announcement made on Twitter by the spokeswoman Liz Harrington. During Trump’s presidency, he was banned by major social media giants earlier this year for posts related to the January 6th U.S. Capitol riots.

— 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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