HomeBusiness & Finance5 things to know before the stock market opens Monday, February 27

5 things to know before the stock market opens Monday, February 27


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

Traders work on the floor of the New York Stock Exchange during morning trading on February 22, 2023 in New York City.

Michael M. Santiago | Getty Images

1. Bounce back

2. Buffett on buybacks

Warren Buffett

Gerard Miller | CNBC

The “Oracle of Omaha” wrote in Berkshire Hathaway‘s annual letter that stock buybacks are beneficial to all shareholders, saying, “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).” Warren Buffett’s shareholder letter is hotly anticipated each year for insight into his investing strategy and broader perspective on the business. Berkshire initiated a buyback program in 2011 and has relied on repurchases in recent years while deals dried up and stocks grew more expensive. “The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up,” Buffett said. “Gains from value-accretive repurchases, it should be emphasized, benefit all owners — in every respect.”

3. 11th hour delay

The SpaceX Falcon 9 rocket with the companys Crew Dragon spacecraft vents fuel prior to a scrubbed launch from pad 39A for the Crew-6 mission at NASA’s Kennedy Space Center in Cape Canaveral, Florida, on February 27, 2023.

Chandan Khanna | Afp | Getty Images

NASA’s Crew 6 mission, which would take four crewmembers to the International Space Station on a SpaceX rocket, was delayed early Monday — just two and a half minutes before launch — due to a technical glitch concerning the flow of ignition fluid. The SpaceX Falcon 9 rocket and Crew Dragon capsule had been scheduled for liftoff at 1:45 a.m. ET from NASA’s Kennedy Space Center in Cape Canaveral, Florida, and were set to carry two U.S. astronauts, a Russian cosmonaut and a United Arab Emirates crewmate on a six-month trip. SpaceX said later Monday morning it would target “no earlier than Thursday” morning, just after midnight, for another launch attempt.

4. Saudis back Ukraine

Saudi Arabia’s Minister of Foreign Affairs Prince Faisal bin Farhan Al-Saud arrives for joint press conference with head of the office of the president of Ukraine and foreign minister of Ukraine in Kyiv on Feb. 26, 2023.

Genya Savilov | Afp | Getty Images

5. Lightning strikes twice

Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan.

Courtesy: Ford Motor Co.

Ford has extended a production pause on its electric F-150 Lightning after a battery issue resulted in one of the pickups catching fire earlier this month. The automaker told CNBC on Friday that its battery supplier, SK, has resumed building battery cells at a Georgia plant, but Ford said it will take time “to ensure they are back to building high-quality cells and to deliver them to the Lightning production line.” The F-150 Lightning is critical to Ford’s electric vehicle transition plans and is viewed by many in the industry as the best candidate for mass adoption out of the increasingly crowded electric mid-size truck segment.

— CNBC’s Tanaya Macheel, Yun Li, Holly Ellyatt, Michael Wayland and Reuters contributed to this report.

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