Traders on the floor of the New York Stock Exchange, September 27, 2022.
Here are the most important news that investors need to start their trading day:
For a while it seemed bullish that US stock markets had pulled back as much as they could this year. Since June, stocks are back. We are now in the early days of fall, and the S&P 500 is emerging from a new low in 2022 on Tuesday. There may be more sales in the future, too. The Fed is sticking with its aggressive anti-inflation plan, while the next batch of corporate earnings may provide some bad news, even if companies lower expectations. Stock futures Seesaw Wednesday morning after a new development from the UK (see below).
Analysts predict that the Bank of England may need to raise interest rates more aggressively after Monday morning’s market turmoil.
soba pictures | Light Rocket | Getty Images
The Bank of England intervenes in the market chaos unleashed by the new British government’s plan to cut heavy economic taxes. The central bank said Wednesday It will postpone its plans to start selling bonds, also known as UK bond bonds, and start a temporary long-term debt-buying program. “If the dysfunction in this market continues or worsens, there will be a material risk to financial stability in the UK,” the Bank of England said. “This will lead to an unjustified tightening of financing conditions and reduce the flow of credit to the real economy.” The pound, which has fallen sharply against the dollar, appeared briefly in the news. Gold bond yields are on track for their biggest monthly gain in 65 years. The tax cut plan from Prime Minister Liz Truss’s new government has baffled investors, officials and experts alike, even drawing a backlash. from the International Monetary Fund.
Hurricane Ian makes its way to the west coast of Florida after passing through Cuba in a composite image from NOAA’s GOES-East weather satellite on September 27, 2022.
NOAA | via Reuters
become ian (a) Category 4 . hurricane It was preparing to storm the Tampa area on the west coast of Florida. The center of the storm was 75 miles west-southwest of Naples, Florida, as of 5 a.m. EDT, according to the National Hurricane Center. Ian left Cuba without authority before heading to Florida. The storm’s approach has prompted many authorities and businesses to close openings. Walt Disney World and Universal Studios Orlando say they will be closing their gardens For at least two days, while Amazon said it would Close some warehouses in the region. Tampa and Orlando airports Operations are also suspended.
A view shows the Russian flag waving in the square during a five-day referendum on the Zaporizhzhya region’s secession from Ukraine and its accession to Russia, in the Russian-controlled city of Melitopol in the Zaporizhzhya region, Ukraine on September 26, 2022.
Alexander Armoshenko | Reuters
Referendums in the Russian-occupied regions of Ukraine showed broad support for secession and accession to Russia. It’s an expected outcome because the vote was hastily arranged after Ukraine’s blunder attack to reclaim large parts of its territory — and because it was fraudulent, according to analysts. It’s a worrying development As for Ukraine and Western countries in general, as Russian President Vladimir Putin and his government have said that they will take any measures to defend the territory of Russia. “Regarding the dangers of Russia using these votes and the subsequent annexation of those territories as a pretext for nuclear strikes – we are aware of this risk, we understand that it is real,” Yury Sak, an adviser to Ukraine’s defense minister, told CNBC. . There are also concerns that the United States and Europe You can’t get weapons to Ukraine fast enough. And NATO held a special meeting Tuesday to discuss the matter. “Unless we have new production, which takes months to ramp up, we won’t have the capacity to supply the Ukrainians,” one expert told CNBC.
General Motors CEO Mary Barra speaks to reporters as she awaits the arrival of President Joe Biden at the media day of the North American International Auto Show in Detroit, Michigan, September 14, 2022.
Rebecca Cook | Reuters
More companies are asking employees to return to the office after years of working remotely. Covid infections are declining, and treatments and vaccines are more widely available. but when General motors On Friday I told company employees that they would have to return to the office at least three days a week, and it didn’t go well. So, on Tuesday, the company brought it back With another note to the staff. After all, it’s hard to undo two and a half years of routine. “Our plan has always been, and continues to be, to collaboratively design the solution that best balances the needs of the organization and the needs of each of you,” said the memo, which was signed by CEO Mary Barra and other executives.
Jesse Pound, Elliott Smith, Sarah Whitten, Annie Palmer, Leslie Josephs, Natasha Turak and Michael Wayland of CNBC contributed to this report.
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