These are Some 5 Things to Know Before the Markets Open

Homebuilder sentiment shifts to a favorable position for the first time in almost a year, while UPS labor union employees warn of a potential strike unless a resolution is achieved. Here is the essential information investors should be aware of today.

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1. Positive Shift in Homebuilder Optimism After 11-Month Interval

After a period of 11 months, homebuilder confidence has finally entered positive terrain in June. The National Association of Home Builders/Wells Fargo Housing Market Index has risen from 50 in May to 55, signifying a consistent upward trend in homebuilder sentiment for the past six months. A deeper understanding of the housing market will be available to investors with the release of housing starts data at 8:30 a.m. ET.

2. Impending Strike Warning from UPS Union Workers unless Agreement Reached

The primary labor union representing United Parcel Service (UPS) employees has issued a threat of a strike if a collective bargaining agreement is not reached before the expiration of the current contract on July 31. The Teamsters Union has disclosed that an overwhelming 97% of its members voted in favor of a strike, highlighting the substantial support behind the potential action. Moreover, it's noteworthy that approximately 70% of the company's extensive workforce of 500,000 individuals are active union members.

3. Intel Inks Contract for German Semiconductor Facility Following Increased Government Funding

In pre-market trading, Intel (INTC) shares remained steady after finalizing a deal with the German government to establish a cutting-edge chip manufacturing plant in Magdeburg, an eastern city. The project's value has soared to $32.8 billion, surpassing the initial proposal of a 17 billion euro facility. This boost in investment comes as a result of the German government's commitment to contribute approximately 10 billion euros in funding. Intel's strategic expansion plans extend beyond Germany, with recent announcements of upcoming facilities in Ireland and Poland. These endeavors aim to enhance the company's market presence within the flourishing semiconductor chip industry in Europe.

4. Hyundai Motor CEO Explores Potential Membership in Tesla's EV Charging Network

Tesla's (TSLA) shares experienced a marginal 0.8% decline in pre-market trading subsequent to the CEO of Hyundai Motor, a South Korean automotive giant, revealing the company's contemplation of enabling its vehicles to be compatible with Tesla's Supercharger network. This move follows the recent announcements by Ford and General Motors expressing their intention to join the said network. Notably, Tesla's charging infrastructure, now referred to as the North American Charging Standard, currently comprises approximately 60% of the electric vehicle charging stations in the United States.

5. Chinese Financial Institutions Once More Reduce Rates to Ignite Economic Revival

In an ongoing effort to reinvigorate a waning economic recovery, Chinese banks have taken further action by lowering their benchmark interest rates for loans and businesses. This follows previous rate cuts implemented to stimulate economic activity. Additionally, Chinese Premier Li Qiang announced on Friday that the government is actively exploring a comprehensive set of policy measures aimed at fostering consistent and enduring economic growth.