Here are the most important news investors need to start their trading day:
1. It’s hard to move even an inch
U.S. stocks rose again on Monday as investors digested last week’s sharp interest rate cut by the Federal Reserve. this S&P 500 Index, Dow Jones Industrial Average and Nasdaq Index The closing prices of 30 stocks in the Dow Jones Index hit another record high, with all stocks rising slightly. Stocks are likely to become more sensitive to signs of economic weakness as traders look ahead to the Federal Reserve’s next policy decision in November. An indicator will be released on Tuesday, the Conference Board’s September consumer confidence index. Follow real-time market updates.
2. No clear path
Neel Kashkari, President and Chief Executive Officer of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York, New York, May 22, 2023.
Fresh Mike | Reuters
After the Fed last week cut interest rates by half a percentage point for the first time since 2008, officials said Opinions vary on how to proceed. Minneapolis Fed President Neel Kashkari said in an interview with CNBC on Monday that the central bank may return to a more traditional 25 basis point approach. Kashkari, who does not have a vote this year, said he expects “unless there is a significant change in the data, we may take smaller steps.” On Monday, Atlanta Fed President Raphael Bo, a voting member Raphael Bostic, the Fed’s chief economist, said the Fed may be less cautious, saying he now expects “monetary policy to normalize sooner than I thought was appropriate a few months ago.”
3. Charging
General Motors’ 2024 Chevrolet Equinox electric vehicle (right) is seen side by side with a gas-powered Chevrolet Equinox on May 16, 2024 in Detroit.
Michael Weiland/CNBC
General MotorsThe electric vehicle business is booming. The Detroit automaker’s electric vehicle sales are rising, driven by slowing demand and production issues. Data provided by General Motors to CNBC showed that it sold 21,000 electric vehicles in the United States in July and August, and sales as of August were up 70% from the same period last year. The price increase comes as the company is building a line of electric vehicles with prices ranging from $35,000 to $300,000. Rory Harvey, GM’s president of global markets, told CNBC: “We’re definitely outpacing the industry in terms of growth in electric vehicles.” Traditional automakers are trying to catch up with electric vehicle market leader Tesla.
4. Rough air
On January 11, 2023, a Southwest Airlines jet landed at LaGuardia Airport in New York City, New York, USA.
Fresh Mike | Reuters
Southwest Airlines Tell employees it needs to make “tough decisions.” The airline aims to boost profits and ease pressure from activist investor Elliott Management, which has called for a change in the company’s leadership. Southwest has made dramatic changes to its unique operating model, choosing to allocate seats and list information on sites like Google Flights and Kayak, among other changes. “Now, that’s not enough. We also have to change our network,” Chief Operating Officer Andrew Watterson said in a video message to employees last week. Southwest Airlines will host an investor day on Thursday.
5. Best foot forward
as Foot cabinet At 50, the sneaker retailer is trying to make a comeback while navigating a changing retail environment and relationships with key suppliers Nike. Foot Locker has seen signs of improvement as it revamps its store footprint, with the company last month reporting its first comparable sales growth in six quarters. Still, questions remain about whether specialty sneaker retailers can not only survive but thrive as brands shift more to online sales and direct-to-consumer sales. Read more about the company’s turnaround efforts here.
– CNBC’s Hakyung Kim, Jeff Cox, Michael Wayland, Leslie Josephs and Gabrielle Fonrouge contributed to this report.
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