5 things to know before the stock market opens on Wednesday, September 28

Traders on the NYSE, September 27, 2022.

Source: NYSE

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

1. Search for the bottom

2. Bank of England participates

Analysts say the Bank of England may need to raise interest rates more aggressively following market turmoil on Monday morning.

Pictures of Sopa | Lightrocket | beautiful pictures

The Bank of England is intervening in the market turmoil caused by the new UK government’s heavy tax-cutting economic plan. The central bank said on Wednesday that it will delay its plan to start selling bonds, known as backend bonds in the UK, and begin a temporary program to buy long-term debt. The Bank of England said: “If this market turmoil continues or worsens, there is a significant risk to the UK’s financial stability. “This will lead to unwarranted tightening of financial conditions and a reduction in credit inflows into the real economy.” The British pound, which has fallen sharply against the dollar, briefly appeared on this news. Heifer production is on track to post their biggest monthly gain in 65 years. Prime Minister Liz Truss’ new government tax cut plan has confounded investors, officials and experts, and even provoked a backlash. from the International Monetary Fund.

3. Ian scrolls in

Hurricane Ian approaches the west coast of Florida after passing Cuba in a composite image from the National Oceanic and Atmospheric Administration’s (NOAA) GOES-East weather satellite on September 27, 2022. .

NOAA | via Reuters

Ian became Category 4 storm as it was about to crash into the Tampa region on Florida’s west coast. The center of the storm was about 75 miles southwest of Naples, Florida, at 5 a.m. ET Wednesday, according to the National Hurricane Center. Ian left Cuba without electricity before arriving in Florida. The storm’s approach prompted some authorities and companies to take down hatches. Walt Disney World and Universal Studios Orlando say they will close their park for at least a few days, while Amazon says it will closed some of its warehouses in the area. Tampa and Orlando airports Also suspended.

4. Important moment for Ukraine

A view shows the Russian flag flying over a square during a five-day referendum on the secession of the Zaporizhzhia region from Ukraine and its accession to Russia, in the Russian-controlled city of Melitopol in the region Zaporizhzhia, Ukraine on September 26, 2022.

Alexander Ermochenko | Reuters

Referendums in Russian-occupied regions of Ukraine have shown widespread support for separation and joining Russia. This was a predictable outcome, according to analysts, because the votes were hastily arranged after Ukraine’s blitzkrieg to retake large swaths of its territory – and because because they were rigged, according to analysts. That’s a worrying development towards Ukraine and Western nations in general, since Russian leader Vladimir Putin and his government said they would take any measure to protect Russian lands. “As for the risk of Russia using this vote and subsequent annexation of territories as a pretext for nuclear attacks – we are aware of this risk, we understand that it is real. “, Yuriy Sak, adviser to Ukraine’s Defense Minister, told CNBC. There are also worries that the United States and Europe can’t deliver weapons to Ukraine fast enough. NATO held a special meeting on Tuesday to discuss the issue. “Unless we have new production, which takes months to ramp up, we won’t be able to supply Ukraine,” one expert told CNBC.

5. GM brake hard when back to the office

General Motors CEO Mary Barra speaks to reporters as she awaits the arrival of President Joe Biden at the media day of the North American International Auto Show in Detroit, Michigan, September 14, 2022.

Rebecca Cook | Reuters

Many companies are asking employees to return to the office after years of working remotely. Fallopian tube infections are declining, and treatments and vaccines are more widely available. But when Synthetic engine told his company employees on Friday that they would have to return to the office at least three days a week, things did not go well. So on Tuesday, the company bring it back with another note to staff. After all, it’s hard to undo two and a half years of habits. “Our plan has always been, and remains, to collaborate on designing a solution that best balances the needs of your business with the needs of each of you,” the memo signed by the CEO Mary Barra and other executives.

– CNBC’s Jesse Pound, Elliot Smith, Sarah Whitten, Annie Palmer, Leslie Josephs, Natasha Turak and Michael Wayland 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: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button