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5 things to know before the stock market opens Wednesday, November 23

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Turkish National Thanksgiving Day on the South Lawn of the White House in Washington, USA, November 21, 2022.

Evelyn Hochstein | Reuters

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

1. All trimming

2. HP joins tech layoff trend

Enrique Lores, HP, CEO

Scott Mullin | CNBC

computer company HP Corporation Said it would be on Tuesday lay off 4,000 to 6,000 employees The announcement came as HP announced its quarterly results, which included a 13% year-over-year decline in sales in the business segment that includes PCs. The company’s plans come after other tech companies, including Facebook’s parent company Meta, Salesforce, and Amazon, also said they would cut headcount as their businesses adapted to the sharp drop in demand early in the Covid pandemic. was broken.

3. New York Law Covers Bitcoin Mining

New York Governor Kathy Hochul speaks at the New York Women’s “Get Out The Vote” rally ahead of the 2022 US midterm elections in Manhattan, New York City, November 3, 2022.

Andrew Kelly | Reuters

New York Governor Kathy Hochul signed the law into law on Tuesday, Two-year moratorium on certain types of bitcoin mining It relies on carbon-based power. Hochul has hailed the law as the first of its kind in the country, and indeed an industry insider told MacKenzie Sigalos on his CNBC that he believes the law could have a domino effect. Told. The move faces environmental concerns about the amount of computing energy used to mine bitcoins, but the sudden collapse of Sam Bankman-Fried’s FTX has caused turmoil and upheaval in the cryptocurrency industry. It also happened during the

4. Several dead in Walmart shooting

Officials said at least seven people were killed, including the shooter After Tuesday’s Massacre At a Walmart store in Chesapeake, Virginia. The company said it was “shocked” by the crime. “We work closely with law enforcement and are focused on supporting our associates.” walmart said on Twitter. The shooting is his second in recent days, following a shooting at his LGBTQ nightclub in Colorado over the weekend. The Walmart shooting also happened when people were picking up last-minute items for Thursday’s Thanksgiving meal. It was also days before shoppers were expected to flock to stores to take advantage of Black He Friday’s bargains.

5. Biden extends student loan moratorium

Getty: U.S. President Joe Biden speaks about student debt relief at the Central New Mexico Community College Student Resource Center in Albuquerque, New Mexico on November 3, 2022.

Getty Images | Saul Loeb

The Joe Biden administration Tuesday, Suspending Federal Student Loan Payments Until June, or earlier if the court allows Biden’s student loan forgiveness program to go into effect. A federal appeals court last week blocked the plan, which offers loan forgiveness of up to $20,000, with a nationwide injunction. Education Secretary Miguel Cardona said, “Without baseless lawsuits filed by Republican officials and special interest groups, it would be very unfair to require a borrower to pay a debt he or she does not have to pay. We will extend the suspension.” he said on Tuesday.

– CNBC’s Sarah Min, Jordan Novet, MacKenzie Sigalos, and Annie Nova contributed to this report.

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