For investors to begin their trading day, the following news items are the most crucial:
1. Weak beginning
The bulls were anxious to leave behind September and its defeats, but the first week of October hasn’t been any kinder. The S&P 500 is expected to have five straight weeks of losses, while the Dow is expected to end its third straight negative week. On a week-over-week basis, the Nasdaq is unchanged as of Friday.
2. The focus is on jobs
Is today going to provide both good news and negative news for the stock market in regards to the American workforce? Treasury yields skyrocketed this week as economic growth persisted, especially in light of a startling rise in job postings.
3. Slam dunk for streaming?
According to Alex Sherman of CNBC, the NBA may very well determine the direction of media. The league’s licencing agreements with Disney (owner of ESPN, ABC, and Warner Bros.) and Warner Bros. Discovery (home of TNT) expire after the 2024–25 season, but prospective media partners, including Google’s YouTube TV and, unexpectedly, Netflix, are already beginning to position themselves to box out rivals.
4. The SEC-Musk battle is still ongoing
Still work needs to be done. Elon Musk snubbed a summons to appear in court last month as part of the Securities and Exchange Commission’s investigation into possible securities fraud involving the billionaire Tesla CEO’s acquisition of Twitter, now known as X, last year. The SEC is upset about this since it was expecting Elon Musk to testify. As a result, the regulator sued him to compel his testimony.
5. Gears in motion
A report that claimed 20 million of the manufacturer’s vehicles have a potentially hazardous air bag part caused General Motors shares to decline on Thursday as the Detroit automaker struggled with the ongoing impact of the United Auto Workers union’s strike. GM stated that it “does not feel the evidence and data supplied by NHTSA at this time provides a basis for any recall” in addition to those it has already started.
Source (CNBC)
