Investors should be aware of the following five essential points before beginning the trading day:
1. 42,000 After a 500-point rise on Thursday, the Dow Jones Industrial Average closed above 42,000 for the first time. Similarly, the S&P 500 broke through with a 1.7% gain to close above 5,700.
2. Nike’s next move Simply put, Nike fired its CEO. Elliott Hill will take over John Donahoe’s position at the massive footwear company starting next month.
3. Dog days when selling houses August saw a 2.5% decline in home sales from July levels and a 4.2% decline from the same month last year. Slightly less than experts had anticipated was the National Association of Realtors’ reading.
4. What is the second strike? The UAW has its sights set once more on the picket line. During national contract discussions, one year after historic strikes, union leadership is threatening work stoppages at Ford and Stellantis.
5. “Calibrating” thirteen texts. Five phonemes. A single new catchphrase. Jerome Powell, the chair of the Federal Reserve, is all about recalibration these days. He mentioned the phrase, or a variant on it, eight times in this week’s press conference that followed the central bank’s first rate reduction in four years.
Source (CNBC)
