Business

5 things to know before the stock market opens on Friday, September 23


A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, September 9, 2022.

Brendan McDermid | Reuters

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

1. Is this week over yet?

US stock futures dropped on Friday, sending the market into a week-long loss. The Nasdaq, in particular, has had a rough time, as high-risk tech stocks are more sensitive to changes in interest rates. The three major indexes fell again on Thursday, a day after the Fed announced its decision to raise its benchmark interest rate by three-quarters of a point to its highest level in more than 14 years. However, the central bank’s warning that it could raise interest rates to 4.6%, from the current 3% to 3.25%, has raised concerns that policymakers may be overdoing it. much, too late. Bond yields have also risen, sparking fears that a recession will arrive in 2023.

2. FedEx tries to stop the bleeding

FedEx cargo plane

Leslie Josephs | CNBC

Speaking of recession fears, FedExIts CEO confused investors last week, when he told CNBC’s Jim Cramer that he believes we’re on the cusp of a global recession, after the company delivered retract its instructions and declining demand is cited. Its shares rose on the news. FedEx’s problems have investors and analysts wondering how much they stem from economic pressures compared to the company’s own shortcomings. On Thursday, FedEx released its full earnings report – accidentally before the market closes – and announced plans to cut costs by $2.2 billion to $2.7 billion in fiscal year 2023. The company also said it would increase shipping fees.

3. Putin’s Growing Nuclear Threat

Russian President Vladimir Putin attends a meeting with Governor of the Novgorod Region Andrei Nikitin in the city of Veliky Novgorod, Russia, September 21, 2022.

Gavriil Grigorov | Sputnik | via Reuters

The Russian government is heeding President Vladimir Putin’s warning that he could use “all means at our disposal to protect Russia and our people” when the weapons and money of the enemy The West fuels the increasingly successful defense of Ukraine. Leaders and experts see a nuclear threat according to Putin. Indeed, Dmitry Medvedev, the former Russian president who was a key figure in Putin’s government, next said the country would use any weapon to defend itself, including strategic nuclear weapons. . Andrey Baklitskiy, a senior research fellow at the United Nations Institute for Disarmament Studies, said: “Coming from the sole decision-maker regarding Russia’s nuclear weapons, this will have to be seriously considered”.

4. Live from the Big Apple, which is… The Apple

Giancarlo Stanton #27 of the New York Yankees is greeted by teammate Aaron Judge #99 after hitting two runs home in the first innings of the New York Yankees vs Washington Nationals game at Nationals Park on Thursday, July 23 , 2020 in Washington, DC.

Alex Trautwig | Major League Baseball | beautiful pictures

AppleHis latest big foray into sports involves the fiercest competition in professional sports and a slugger’s quest for glory. Apple TV+ has exclusivity to Friday night’s game between the Boston Red Sox and the New York Yankees in the Bronx. While the Yankees are among the best in baseball and the Sox have a losing record, the two clubs’ mutual hatred makes all their games worth watching. New York quarterback Aaron Judge could also hit his 61st home game of the season, which would earn him Yankee Roger Maris’ American League record. (Also, the non-steroid home run record for all baseball, if you’re an old-fashioned purist.) Such an event would be a bargain for Apple. Top gadget maker, like tech giant Amazon, is playing a major role in dominating sports against Disney and its ESPN brand, as well as legacy broadcast networks. (By the way, Apple will sponsor the Super Bowl halftime show, starting in february.)

5. Will Bed Bath & Beyond survive?

A person leaves a Bed Bath & Beyond store in New York City, June 29, 2022.

Andrew Kelly | Reuters

Outdoor shower bed is pushing with a drastic turnaround plan as its stock price and sales tumble, but it will be difficult for the retailer to get out of the mess. Bed Bath is deeply in debt and has a difficult relationship with companies that supply the types or products the household chain will need to sell if it wants to avoid bankruptcy. The company says its new plan, based on a new loan and national brands, has been well received. But former executives, who recently left the company, told CNBC that the company has alienated suppliers by paying late and prioritizing its own brands. Read about what’s at stake for Bed Bath & Beyond here.

– Alex Harring, Sam Meredith, Jack Stebbins, Kif Leswing, Melissa Repko and Lillian Rizzo of CNBC contributed to this report.

Register now for the CNBC Investment Club to track every move in Jim Cramer’s stock. Follow broader market action like a pro on CNBC Pro.



Source link

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button