5 things to know before the market opens on Monday, May 24

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

1. Stocks expected to rise after Bitcoin’s swings last week

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. Bitcoin attempts a positive start to the week after wild dives

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

3. New cases of Covid in US drop dramatically ahead of Memorial Day

People without masks walk in Times Square on May 19, 2021 in New York City.

John Smith | VIEW press | Corbis News | Getty Images

4. The judge in the Epic Games-Apple case is about to grill the lawyers on both sides

Apple CEO Tim Cook is cross-examined by Gary Bornstein as he testifies at the stand in a multi-week antitrust trial in federal court in Oakland, California, United States, May 21 2021 in this courtroom sketch.

Vicki Behringer | Reuters

The judge who will decide the Epic Games-An Apple case is expected grill the avocados on both sides Monday while they are doing their last test points. U.S. District Judge Yvonne Gonzalez has said she hopes to deliver her ruling by Aug. 13. Apple CEO Tim Cook on Friday described controlling the company over its App Store as the best way to serve and protect device users. Epic Games, creator of the hugely popular Fortnite video game, claims the App Store has turned into a vehicle that drives prices up, generating 15% to 30% commissions on in-app transactions and preventing apps from offering other payment alternatives.

5. Virgin Galactic’s last space flight was ‘perfect’, says CEO

Virgin Galactic shares jumped 17% in pre-market Monday, two days after the company’s first space flight in more than two years brought it closer to completing the development of its space tourism system. The stock climbed 30% last week.

Virgin Galactic’s spacecraft, VSS Unity, was transported to an altitude of about 44,000 feet by a carrier aircraft. He was then released, set his rocket motor on fire, did a slow backflip to the edge of space, and landed on the runway in New Mexico from where he had lifted off. Virgin Galactic CEO Michael Colglazier told CNBC the flight was “flawless.”

– The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest pandemic news with CNBC Coronavirus Coverage.

About Douglas Torres

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