5 issues to know earlier than the inventory market opens Wednesday, February 22

Listed here are an important information gadgets that buyers want to begin their buying and selling day:

The market got here again from the three-day weekend in unhealthy form. The three main indices every fell by at the least 2% on Tuesday, with the Nasdaq dropping essentially the most. The Dow is now in destructive territory for the younger yr, which had regarded so promising at first. Bond yields rose as buyers weighed what the Federal Reserve would possibly do subsequent whereas additionally they digested muted outlooks from two prime retailers (see under). They need to get some clues later Wednesday, when the Fed releases the minutes from its earlier policy-setting assembly. Comply with reside markets updates.

Amazon staff’ anger about CEO Andy Jassy’s sudden return-to-office mandate retains rising. Beginning Could 1, folks should be again within the workplace at the least three days every week, Jassy and his management workforce introduced a number of days in the past. Disgruntled staff spammed an inside web site with messages slamming the choice. Some tech staff on the firm began a Slack group, which had about 16,000 members as of Tuesday evening, and put collectively an inside petition that pushes again on the rule. About 5,000 staff had signed the petition.

Norfolk Southern’s chief govt, Alan Shaw, sat down with CNBC’s Morgan Brennan to speak about his firm’s response to a prepare derailment in Ohio that launched poisonous chemical substances. He stated it is protected for households to return to East Palestine, Ohio, the place the prepare derailed Feb. 3, and he pledged Norfolk Southern’s assist for the city and its residents. Requested whether or not it is protected for folks to return, he advised CNBC: “Sure, sure, I’ve come again a number of instances. I am consuming the water right here. I’ve interacted with the households right here.” Norfolk Southern has come underneath harsh criticism for its response to the catastrophe, and the federal EPA has ordered it to deal with all of the cleanup and restoration efforts.

Walmart and House Depot kicked off retail earnings season with a whimper. Walmart, the nation’s greatest retailer and grocer, supplied a lighter forecast than anticipated for the yr, because it expects inflation-weary clients to proceed to keep away from discretionary purchases like electronics and focus extra on necessities, like groceries. House Depot, in the meantime, reported income that missed estimates for the primary time since November 2019. The house enchancment big additionally stated it is seeing clients purchasing extra cautiously. “We have seen an rising diploma of worth sensitivity because the yr’s gone on, which is definitely form of what we predicted within the face of persistent inflation,” House Depot’s CFO advised CNBC.

Howard Schultz is perhaps leaving his third (and remaining, he says) stint as Starbucks CEO on unhealthy phrases with the baristas union, however he is betting the brand new drink model he is introducing will depart a tastier legacy after he leaves subsequent month. The worldwide espresso chain is introducing Schultz’s newest brainchild, the “Oleato” line of olive oil-infused espresso drinks, Wednesday in Italy. It will make its U.S. debut this spring in California, earlier than spreading to different markets. “This can be a transformational second within the historical past of our firm creating a brand new class, a brand new platform,” Schultz advised CNBC’s Jim Cramer.

– CNBC’s Samantha Subin, Annie Palmer, Noah Sheidlower, Melissa Repko, Amelia Lucas and Rebecca Picciotto contributed to this report.

— Comply with broader market motion like a professional on CNBC Professional.