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5 things to know before the stock market opens on Friday, September 2


A trader on the NYSE, September 1, 2022.

Source: NYSE

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

1. Stocks and jobs

Stock futures contract Little was changed Friday morning ahead of the big monthly jobs report, which drops at 8:30 a.m. ET. The US stock market is experiencing a mixed Thursday, seeing the Dow and S&P 500 bounce off a four-day losing streak, while the Nasdaq suffers its fifth consecutive day of declines – its longest slide since February. Investors are looking for clues about how aggressive the Federal Reserve will be later this month, when the central bank is tipped to raise interest rates again in its fight against inflation. A strong jobs report on Friday morning The market can be terrifying, as it would add to the Fed’s case for slowing things down. Economists predict that the US added 318,000 jobs in August, according to Dow Jones.

2. Finally, a new CEO of Starbucks

Laxman Narasimhan

Source: BusinessWire

Starbucks has been selected Its next CEO: Laxman Narasimhan, who recently stepped down as CEO of Reckitt, the company that owns the Lysol hygiene brand, Durex condoms and more. However, Howard Schultz, who has served as the coffee chain’s interim CEO since April, is not going anywhere anytime soon. Narasimhan will join Starbucks in October, but won’t take over as a director of the company until April. Schultz will also remain on the company’s board and continue as an advisor after Narasimhan, also the a PepsiCo veteran, assumes the role. Details are happening at Starbucks’ investor day, scheduled for September 13 in Seattle.

3. Amazon union scores another win

Chris Smalls and Derrick Palmer at the temporary headquarters of the Amazon Labor Federation in Staten Island, New York, on June 15, 2022.

Katie Schoolov

The National Labor Relations Board said on Thursday that the Amazon Labor Union’s successful attempt to unify a Staten Island, New York, warehouse should be appreciated. The e-commerce giant began its formal protest in May, a month after the coalition won. But the NLRB attorney overseeing the case said Amazon “failed to meet its burden” in its attempt to demonstrate that the union used the means of protest to secure its victory. Meanwhile, Amazon’s grassroots labor union is looking to expand its influence. It failed to unify another Staten Island warehouse in May, but workers at warehouses in Albany, New York and Kentucky are looking to organize with the union.

4. UN team digs nuclear plant in Ukraine

Russian military vehicles escort a delegation of experts from the International Atomic Energy Agency (IAEA) as they leave the Zaporizhzhia Nuclear Power Plant during the Ukraine-Russia conflict outside Enerhodar in the Zaporizhzhia region, Ukraine, September 1 2022.

Alexander Ermochenko | Reuters

After hours of delay due to shelling in the area on Thursday, inspectors from the United Nations International Atomic Energy Agency finally reached the Zaporizhzhia nuclear plant in Ukraine. Organization no plans to leave, as long as the Russian-occupied facility is vulnerable to disaster. “We are not going anywhere,” IAEA Director Rafael Grossi told reporters. “The IAEA is there now, it is at the plant and it is not moving. It will stay there. We will continue to be there at the plant.” The Zaporizhzhia nuclear facility is the largest in Europe.

5. Meme Stock: The Motion Picture

Seth Rogen

Charles Sykes | Bravo | NBCUniversal | beautiful pictures

Here’s an interesting story for the last weekend of summer. An all-star cast – including “This is the End” star and “The Boys” executive producer Seth Rogen, and “SNL” and Kim Kardashian’s Pete Davidson – will take on the wild tale of GameStop stock meme phenomenon of early 2021. “Dumb Money,” which will be directed by “I, Tonya” director Craig Gillespie, is scheduled to start filming this month, when the movie rights are also sold. The film will be based on the non-fiction book “The Antisocial Network” by Ben Mezrich. If that name sounds familiar, that’s because Mezrich also wrote “Accidental Billionaire,” a fascinating account of the founding of Facebook. That book was adapted into the 2010 Oscar-winning classic “The Social Network”.

Disclosure: NBCUniversal is the parent company of CNBC and NBC, which broadcasts “Saturday Night Live.”

– CNBC’s Carmen Reinicke, Amelia Lucas, Annie Palmer, Sam Meredith and Ashley Capoot contributed to this report.

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