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📈 Congress to Restrict Chinese Business

Google accused of playing Monopoly, Jeep is on fire, Big Lots looking at closeout, New iPhone marks a milestone, Congress kicks off China Week

Author

Evelio Silvera
September 10, 2024

In partnership with

Good morning.

⚡ The Fast Five → Google accused of playing Monopoly, Jeep is on fire, Big Lots looking at closeout, New iPhone marks a milestone, Congress kicks off China Week

And now…

⏱️ Your 5-minute briefing for Tuesday, September 10, 2024:

MARKET BRIEF
Before the Open

As of market close 9/9/2024.

Pre-Market

  • Boeing shares jumped 3.6% intraday, the top gainer on the Dow, after the plane maker said Sunday that it reached a tentative labor deal with the International Association of Machinists and Aerospace Workers, representing more than 33,000 employees.

  • Astrotech Corp. shares dropped 21% today in trading on the Nasdaq. The aerospace and defense tech company was the days biggest loser.

Fear & Greed

*UP 3pts

Trends

  • Wall Street indexes bounce back as investors await inflation data, Fed rate cuts

  • US Futures Steady After Upbeat Session

  • US Equity Indexes Rebound in Broad-Based Rally

  • Bond market warns Fed is slow to cut rates

WHAT WE’RE WATCHING
Events

  • WEDNESDAY: Bureau of Labor Statistics Core Consumer Price Index, 8:30AM

  • Why You Should Care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate

Earnings Reports

  • Today: GameStop, Academy Sports, Dave & Busters, Petco

  • Tomorrow: Manchester United, Cracker Barrel, SelectQoute

MARKET BRIEF
Headlines

The U.S. House of Representatives is set to vote on a series of bills aimed at China, including one that would prevent federal contractors from working with Chinese biotech firms.

On Monday, the US Department of Justice's next monopoly trial against Google started in Virginia—this time challenging the tech giant's ad tech dominance.

 

  • Big Lots files for Chapter 11 bankruptcy protection (link)

  • First American Financial discloses $342 million loss on the sale of bonds (link)

  • Incoming Starbucks CEO’s Tall Order: Calming Anxious Employees (link)

  • Job Slowdown? Headhunters Are On A Roll, Revenue For Executive Searches Is Up (link)

  • Norfolk Southern CEO Alan Shaw being investigated for potential misconduct (link)

  • Jeep SUVs Investigated Over Reports They Can Catch Fire (link)

  • iPhone 16 Marks a Milestone in Apple’s Supply Chain Shift From China to India (link)

  • Here's the 'magical' moment Goldman Sachs sees for tech stocks (link)

CRYPTO
Fear & Greed

*UP 7 pts

Headlines

  • FBI Says 50% of All Financial Fraud Losses Involve Cryptocurrency (link)

  • Bitwise CIO says advisors adopting bitcoin ETFs 'faster' than any other exchange-traded fund in history (link)

  • Five U.S. States Reach Settlement With GS Partners, Investors to Get Full Refunds (link)

  • Why the US BTC reserve plan could be years from becoming reality (link)

DAILY SHARE
On the Socials

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