To begin their trading day, investors should be aware of the following key news items:
1. Worrying about the Fed
Towards Monday, stocks are stumbling. Every one of the three main U.S. averages has seen at least two consecutive dropping weeks. Concerns among investors this week over the possibility that the Federal Reserve may delay reducing interest rates longer than anticipated were stoked by higher-than-expected inflation data.
2. Approaching shutdown
Once more, Congress is flirting with a possible government shutdown. The deadline for lawmakers to enact appropriations bills is this Friday, after which six departments—including Defence, Treasury, and State—will lose their financing. Just before they were about to shut down, Congress earlier this month enacted measures to fund a few other agencies.
3. Putin secures a second term.
With around 88% of the vote in an election with no viable opposition, Russian President Vladimir Putin was re-elected to a six-year term on Sunday. The outcome, which strengthened Putin’s hold on power, was deemed “illegitimate” or “farce” by a few Western politicians. More than two years into his invasion of Ukraine, Putin, 71, is continuing his onslaught while the election takes place.
4. Inadequate coverage
The well-known weight-loss medication Wegovy from Novo Nordisk was authorised in the US for heart health advantages. Despite this increased use, insurers might not yet decide to increase coverage of the treatment. The drug’s monthly cost of more than $1,000 may cause some insurance plans to reconsider whether to cover it. However, the likelihood of receiving coverage for cardiovascular care may be higher for some state Medicaid programmer.
5. Technical unrest
Retired computer workers are speaking of a depressing state of mind as they search for employment following a difficult period for those in the industry. This year, more than 200 tech companies have let go of more than 50,000 employees.
Source (CNBC)
