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5 things you need to know before the stock market opens on Wednesday, June 9

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

1. The S&P 500 ends with about 5 points in May.

Traders at the New York Stock Exchange, June 4, 2021.

source: NYSE

2. Clover Health, the newest meme stock is set to soar again.

Clover Health is featured on the Nasdaq.

source: Nasdaq

Meme stock mania is set to continue Wednesday, with day traders again focusing on Clover Health. The stock is up 22 percent in futures trading after a nearly 86 percent rally on Tuesday, up 146 percent. Since Friday’s close, Wendy’s, another popular name among Reddit traders, is up nearly 26 percent on Tuesday. AMC Entertainment’s frenzy Last week, it was down slightly. Shares fell 6 percent in premarket. After Wednesday’s closing bell, GameStop’s original meme stock is set to report quarterly earnings. Stocks go up in premarket after closing up 7%.

3. Biden makes its first overseas trip after an infrastructure negotiation panel. infrastructure

US President Joe Biden departs after giving a speech at the Eisenhower Administration Building. in Washington, D.C. on Wednesday, June 2, 2021.

Samuel Corum | Bloomberg |bergGetty Images

President Joe Biden is set to leave on Wednesday. to travel abroad for the first time on the agenda The first stop on his eight-day tour was in the UK. Biden’s trip ends next week with a summit with Russian President Vladimir Putin. Biden’s departure comes a day after he ended infrastructure talks with GOP senators. With senators from both sides in a new effort to a bipartisan compromise with a summer deadline for Congress to pass the law, Democrats are also laying the groundwork to deliver some or all of their infrastructure packages. self

4. The Senate passes a $250 billion technology and manufacturing bill.

workers at the photolithography department of the Mikron Group’s semiconductor plant in Zelenograd, Moscow.

Anton Novoderezhkin | TASS | Getty Images

in the next few weeks The House of Representatives is expected to adopt the $250 billion technology and manufacturing bill passed by the closely divided Senate on Tuesday. The measure includes $52 billion to support research. Semiconductor, Design and Manufacturing Biden applauded the bill as the White House added its own recommendations on how to secure the US supply chain. that operates through China and how to cope with Beijing’s political ambitions.

5. Bitcoin Rebounded After El Salvador Used It as Legal Money

A man works on a laptop at a Bitcoin training facility. Salvadoran President Nayib Bukele has announced that he will introduce legislation to parliament. His party controls the majority to make Bitcoin legal.

Camilo Friedman | LightRocket | Getty Images

A day after falling to a three-week low, bitcoin rose 5 percent to more than $35,400 on Wednesday. add support El Salvador became the first country to legalize bitcoin. Prices in El Salvador can now be displayed in bitcoins, taxes can be paid with cryptocurrencies. And exchanges for bitcoin will not be subject to capital gains tax there. The current official currency of El Salvador is the US dollar. It is not clear how El Salvador will legally launch bitcoin.

— Associated Press and Reuters contributed to this report. Follow all the market movements like a pro on CNBC Pro. Get the latest news about the epidemic with CNBC’s coronavirus coverage.

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