5 things to know before the stock market opens on Tuesday, June 1

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

1. Dow is expected to jump on the first day of June

The New York Stock Exchange welcomes Lightning eMotors (NYSE: ZEV) on May 24, 2021 to celebrate its transition to a public company.

NYSE

A Bitcoin logo seen displayed on a smartphone with stock market percentages in the background in this illustration taken on April 26, 2021.

Omar Marques | SOPA Pictures | LightRocket | Getty Images

Bitcoin – 44% off April’s all-time high of nearly $ 65,000 – traded above $ 36,000 on Tuesday. The world’s largest digital currency was revisiting levels not seen since February. Bitcoin crashed last month, plunging more than 30% on May 19 to around $ 30,000. However, at Tuesday’s levels, it was still up around 24% in 2021 and 275% in the past 12 months.

2. AMC stocks will add to last week’s strong rally

AMC Empire 25 off Times Square is open as New York theaters reopen for the first time in a year after the coronavirus shutdown on March 5, 2021.

Angela Weiss | AFP | Getty Images

3. Biden to announce new efforts to narrow the racial wealth gap

U.S. President Joe Biden speaks during his visit to Joint Base Langley-Eustis with First Lady Jill Biden in Hampton, Virginia on May 28, 2021.

Ken Cedeno | Reuters

4. Elon Musk reveals the reason for the rising prices of Tesla vehicles

5. SoFi to debut on Wall Street after PSPC deal closes

The Social Finance (SoFi) website on a laptop computer laid out in the Brooklyn neighborhood of New York, USA on Friday, March 26, 2021.

Gabby Jones | Bloomberg | Getty Images

Social finance, known as SoFi, should debut as a state-owned company on Tuesday after finalizing its merger with a PSPC backed by venture capitalist Chamath Palihapitiya last week. The deal, announced in January with special purpose acquisition company Social Capital Hedosophia Corp V, values ​​SoFi at $ 8.65 billion. Palihapitiya, one of Facebook’s early executives, recently took several companies public through PSPCs, including Virgin Galactic.

– Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest pandemic news with CNBC’s coronavirus coverage.


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