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5 things to know before the stock market opens on Wednesday, September 14


Traders on the NYSE, September 13, 2022.

Source: NYSE

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

1. Pick up the pieces

US stock futures Looks like a rebound on Wednesday morning as investors look to exit their worst market cycle since June 2020. All three major indexes had a bad Tuesday after the index. Consumer prices rose faster than expected. While the Dow fell 1,276 points, the S&P 500 and Nasdaq is heavy on technology already suffered larger drops in percentage terms as it crosses Wall Street that the Fed won’t back down on its aggressive rate hike plan anytime soon. In fact, traders are currently divided on whether the Fed will raise its benchmark rate by 3/4 point or 1 point at its meeting next week. More inflation data is also due on Wednesday – producer price indexes fall at 8:30 a.m. ET.

2. Trouble on the railway

Shipping containers sit at the BNSF Railway intermodal facility on July 28, 2021 in Cicero, Illinois.

Scott Olson | beautiful pictures

Thousands of railway workers could go on strike on Friday as talks between several major unions and rail carriers come to a standstill. excessive sick leave policy. Top union negotiator charged Union Pacific and Berkshire Hathaway– BNSF is authorized to hold everything on time off for medical appointments. BNSF calls it untrue, while Union Pacific has a softer tone. “We are in active discussions with unions to try to address these concerns,” the company told CNBC. The White House, meanwhile, has start preparing for a decommissioned job. A strike can cost $2 billion a day. Dennis Pierce, president of the Brotherhood of Locomotive Engineers and Trainmen, told CNBC: “The strike is a last resort. It doesn’t help anyone because employees lose money and the company loses money.” “We’re not here to hurt the economy.”

3. Starbucks’ New Plan

Starbucks CEO Howard Schultz, has left, along with incoming CEO Laxman Narasimhan, September 7, 2022.

Source: CNBC

Howard Schultz is on his way out as Starbucks Again as CEO, but his vision for the company he turned into a global coffee producer still reigns supreme. At investor day on Tuesday, Starbucks revealed new long-term plan, which includes everything from beefing up loyalty programs to more stores and increasing automation in its cafes – as the company battles a growing alliance push among its bartenders. Starbucks also boosted its long-term financial outlook. Schultz will serve as interim CEO until April, when veteran consumer goods executive Laxman Narasimhan is expected to take over the role. Narasimhan will officially join the company this fall and learn from Schultz’s experience.

4. What’s next for Ukraine?

A long convoy of invading Russian military vehicles was seen en route to Kyiv at the start of the war in late February, just before vehicle breakdowns, lack of basic supplies, and attacks. Ukrainian defenders forced it to turn around and run back to Russia. Last week, the Ukrainian military’s defeat of Russia in Kharkiv was as dramatic as the one outside Kyiv.

Maxar | beautiful pictures

5. Mortgage demand sinks

A sale sign is posted in front of a home listed for over $1 million on April 29, 2022 in San Francisco, California.

Justin Sullivan | beautiful pictures

The housing market continues to be under pressure from the rising exchange rate. Overall mortgage demand fell more than 1% per week, according to the Mortgage Bankers Association. Since last year, however, the decline has been more significant. Mortgage demand among homebuyers fell by nearly a third. Demand for refinancing has also fallen by more than 80%. Rates bottomed out this time last year, but they’re more than 6% now, about double their early 2022 levels. And after Tuesday’s unexpected hot inflation print, the Fed will only be able to be more incentivized to continue raising rates at an aggressive clip.

– CNBC’s Samantha Subin, Lori Ann LaRocco, Emma Kinery, Holly Ellyatt and Diana Olick contributed to this report.

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