Here are five key things investors need to know when starting their trading day:
1. District Four
this S&P 500 Index Thursday was the fourth consecutive day of gains, rising 0.75%. The Nasdaq performed better, rising 1%, and the Dow Jones Industrial Average rose 235.06 points, or 0.58%, as investors snapped up technology stocks. Investors are focused on Thursday’s producer price index, the final inflation data ahead of next week’s Federal Reserve meeting. The report, which measures the average change in prices for goods and services received by businesses, showed wholesale prices rose 0.2% in August, in line with expectations. Follow real-time market updates.
2. Boeing workers strike
More than 30,000 boeing company Workers are on strike. Factory workers on Friday overwhelmingly rejected a tentative contract agreement between the aircraft maker and the International Association of Machinists and Aerospace Workers and went on strike. The strike will halt production of Boeing’s best-selling planes as the company tries to recover from a series of missteps. IAM District 751 President Jon Holden called the work stoppage an “unfair labor practice strike.” Boeing said in a statement that the company remains “committed to rebuilding its relationship with employees and unions, and we are ready to return to the bargaining table to reach a new agreement.”
3.Adobe Slides
A sign hangs outside the Adobe office on December 13, 2023 in San Francisco, California.
Justin Sullivan | Getty Images
adobe The company reported third-quarter results that beat Wall Street expectations for sales and profit. However, the company’s stock price fell about 8% in pre-market trading on Friday because the company’s fourth-quarter performance guidance failed to meet the target. Analysts polled by the London Stock Exchange had expected fourth-quarter sales of $5.61 billion and earnings of $4.67 a share, but the company said it expected earnings of $4.63 to $4.68 a share on revenue of $5.5 billion to $5.55 billion. Dollar. At the same time, the company said subscription revenue increased 11% year over year in the third quarter.
4. HIV prevention injections
On April 29, 2020, the logo of Gilead Sciences Pharmaceutical Company appeared in Oceanside, California.
Mike Black | Reuters
drug manufacturer Gilead Data released on Thursday showed that the twice-yearly injection of lenacapavi reduced HIV infection rates by 96% in a large trial. Additionally, the company said 99.9% of participants who received the shot were HIV-free. There were only two cases among 2,180 people in the phase three trial. The positive data opens the door for the U.S. Food and Drug Administration to potentially approve the drug for HIV prevention.
5. A major package manufacturer?
Presentation by Coach and Michael Kors.
Jeff Greenberg | Underground CG | Universal Image Group | Getty Images
New York Fashion Week is over, but two major retailers are hosting a different kind of show in the city this week. Coach’s boss tapestry Michael Kors and Michael Kors owner Capri argued in a Manhattan court that they should be allowed to pursue a merger worth $8.5 billion. The initial merger was announced more than a year ago, but the Federal Trade Commission filed a lawsuit in April to block the merger, saying it would harm competition, raise handbag prices and leave employees with worse wages and benefits. Now, the FTC and the companies are discussing competition in the handbag space and why they think the deal makes sense. Learn more about the three key issues that will impact this case here.
—CNBC’s Pia Singh, Hakyung Kim, Leslie Josephs, Kif Leswing, Annika Kim Constantino and Melissa Repko contributed to this report.
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