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5 Things To Know Before The Stock Market Opens Friday

Here are the top news stories that investors need to know before they begin their trading day:

Powell’s remarks, 1

As investors wait for Jerome Powell’s address at Jackson Hole, Wyoming, the Federal Reserve Chairman, stock futures were little higher on Friday morning. The 76 point, or 0.2%, increase in the Dow Jones Industrial Average futures.

2. Sales at Subway

Sandwich brand Subway is selling itself to private equity company Roark Capital after a protracted process. Roark Capital currently owns more than a dozen food chains in its portfolio. Roark owns eateries like Jimmy John’s, Buffalo Wild Wings, and Dunkin’ through holding company Inspire Brands. It also owns Schlotzsky’s, Moe’s Southwest Grill, Auntie Anne’s, Cinnabon, and other brands under the Focus Brands umbrella. Except for Dunkin’, Subway is larger and has higher annual revenues than all of those eateries combined.

DOJ sues SpaceX 3.

The American Department of Justice filed a lawsuit against SpaceX, citing discriminatory hiring practises. According to the lawsuit, the employer discriminated against asylum seekers and refugees while employing new employees. The DOJ claims that SpaceX “wrongly stated” that export control restrictions only allowed it to hire citizens and legal permanent residents of the United States. The organisation has been looking into Elon Musk’s space enterprise ever since it was informed of a complaint in 2020.

4. A tech embrace

One could say that a New York-based AI startup just received a bear embrace of support from a number of tech behemoths. Hugging Face, which takes its name from the hugging face emoji, has raised $235 million at a valuation of $4.5 billion, indicating that the artificial intelligence boom is still going strong.

5. Trump is detained

Donald Trump, a former president, turned himself in late Thursday and was lodged at the Fulton County jail in Georgia before posting bond and leaving. He was charged by the state with trying to sway the state’s 2020 presidential election, and he was indicted earlier this month along with 18 other defendants. A conspiracy accusation as well as other charges of fraud and false statements are included in the Georgia case. Trump is involved in four different criminal proceedings, but this is the first time a mugshot of him has been taken and made public.

Source (CNBC)

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