Here are the top news stories that investors need to know before they begin their trading day:
1. A difficult August after all
After ending a turbulent August, stock futures advanced on Friday. Despite a recent run of profitable sessions that helped stock indexes reduce their monthly losses, the S&P 500 lost 1.77%, and the Nasdaq lost 2.17% in August.
2. Jobs observer
Verify your calendar: Investors are awaiting the Department of Labor’s employment report because it is the first Friday of the month. According to economists surveyed by Dow Jones, the U.S. economy added 170,000 jobs in August, a modest decline from the 187,000 jobs added in July.
3. What’s next, Ozempic?
In the upcoming round of price talks between manufacturers and Medicare in 2025, Ozempic might be included. In 2021, Medicare Part D had already paid over $2 billion on Novo Nordisk’s bestselling diabetes medication. That sum is comparable to several of the first ten medications that the Biden administration chose for pricing talks this week.
4. Modifications to marijuana
U.S. health officials want to relax marijuana laws, which might be a big help for a sector that frequently battles with government rules. This Monday, the Department of Health and Human Services urged the Drug Enforcement Administration to take into account loosening marijuana regulations. Marijuana is a Schedule I drug, the most severe classification. On the news, marijuana stocks like as Aurora Cannabis, Canopy Growth, and Tilray Brands increased on Wednesday and Thursday.
5. Exor Swift
Look what she forced them to do. A concert film version of Taylor Swift’s massively successful Eras Tour will be released, she said on Thursday. The movie was slated to debut on Friday, October 13, the same day as the newest iteration of the horror franchise “The Exorcist,” creating the possibility of another double feature hit a like “Barbenheimer.” But later on Thursday, the movie’s distributor, Universal, declared it would move the “Exorcist” release date up a week, to Friday, October 6. Swift’s influence over the economy is difficult to overlook.
Source (CNBC)
