5 things to watch before the stock market opens Thursday

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The stock market will reopen Thursday morning, with investors eagerly awaiting the decisions of the Federal Reserve on interest rates and financial regulation. Here are five things to watch as trading begins again, according to CNBC experts and economists.

Railway strike averted

President Joe Biden announced a tentative labour agreement early on Thursday to prevent a nationwide rail strike as the deadline for a resolution drew near. The movement of important products and commodities across the United States would have been severely disrupted by a strike, which might have idled over 7,000 trains and cost up to $2 billion a day. Railroads and labour unions’ negotiations had stalled because of unpaid sick time. According to Biden, the accord agreed on Thursday will provide train workers “peace of mind about their health care bills” and enhance their wages and working conditions. The sides had until Friday at 12:01 a.m. to come to an agreement and avert a strike.

fresh data ready

Image Source- CNBC

Futures on stocks remained largely unchanged. Investors expected a fresh round of economic statistics, including retail sales, import prices, and unemployment claims, on Thursday morning. U.S. stocks suffered their worst day since 2020 earlier in the week after the consumer price index report for August revealed headline inflation increased 0.1% on a monthly basis, despite a decline in gas costs. The wholesale prices then decreased by 0.1% in August, according to the producer price index data released on Wednesday. That provided some solace, according to Renaissance Macro Research’s founder and chairman Jeff deGraaf. “I think it’s extremely essential that people remember that it’s not about good and terrible in the markets, it’s about better and worse,” said the economist. “Inflation is truly a gloomy cloud over equities.

Increase for EVs

Image Source- Indiatimes.com


Lack of a nationwide network of charging stations has been one of the main obstacles to the mass adoption of electric cars. President Biden announced the first wave of financing for such a network, which would pay for the development of stations in 35 states, on Wednesday. Biden has been a strong supporter of electric vehicles, helping to pass legislation that provides incentives for both customers and businesses to produce them. At the Detroit Auto Show, Biden spoke to the International Brotherhood of Electrical Workers labour union and said, “You guys are going to be part of a network of 500,000 charging stations — 500,000 — across the country, erected by the IBEW.”

An updated muscle vehicle

Image Source- CNN

The famous muscle car’s seventh edition, which features two gasoline engines, was introduced by Ford on Wednesday. The all-electric Mustang Mach-E crossover is part of the Detroit automaker’s “Mustang family” concept, which also involves revamping the classic car without any kind of electricity. An Automotive News source claims that a planned hybrid version was shelved, potentially making the most recent Mustang the final gas-powered muscle vehicle produced by Detroit’s manufacturers. The biggest competitors of the Mustang automobile, the Dodge Challenger and Chevrolet Camaro, are anticipated to switch to electric vehicles in the upcoming years.

Billions from Patagonia

Image Source- Bangkok Post

Yvon Chouinard, the creator of Patagonia, claims to be “reimagining capitalism” and that he and his family are handing up ownership of the clothing company they founded more than 50 years ago. The firm will donate all of its earnings to initiatives and groups that save biodiversity, defend natural lands, and combat the climate problem. The New York Times estimates the company’s worth at $3 billion. The Patagonia Purpose Trust and a collection of nonprofit organisations going by the name of the Holdfast Collective will now hold the equity of the privately held firm. Depending on how well the firm does, it plans to give roughly $100 million annually.

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