Traders on the floor of the New York Stock Exchange on September 1, 2022.
Source: New York Stock Exchange
Here are the most important news items investors need to start their trading day:
1. Stocks and employment
Stock futures rose Friday morning after the monthly jobs report. The US stock market saw the Dow and S&P 500 break out of his four-day streak and the Nasdaq to suffer his fifth straight decline, its longest drop since February. Investors are looking for clues about how aggressive the Federal Reserve will be later this month, when the central bank is widely expected to raise rates again in its fight against inflation. The economy added 315,000 jobs last month. According to Dow Jones, economists had predicted an increase of 318,000 for him.
2. Starbucks’ new CEO, eventually
Source: Business Wire
Starbucks has elected its next CEO. Laxman Narasimhan, who owns the Lysol cleaning brand, Durex condoms and more, just stepped down as his CEO at Reckitt. But Howard Schultz, who has been the coffee chain’s interim CEO since April, isn’t going anywhere anytime soon. Narasimhan said he plans to join Starbucks in October, but he won’t become the company’s chief executive until April. Mr. Schultz will remain on the company’s board of directors and will continue to serve as an advisor after fellow PepsiCo veteran Mr. Narasimhan assumes the role. Details will be announced at Starbucks Investor Day in Seattle on September 13th.
3. The Amazon Union Wins Again
Chris Smalls and Derrick Palmer at the temporary headquarters of the Amazon Workers Union in Staten Island, New York, June 15, 2022.
The National Labor Relations Board said Thursday that Amazon’s winning efforts to unionize its Staten Island, N.Y., warehouse should be supported. We launched a formal appeal in May. But her NLRB attorney overseeing the case said Amazon “has not lived up to its burden” in an attempt to prove that the union used unfavorable means to secure its victory. . Meanwhile, the grassroots Amazon union is trying to expand its influence. In May, another Staten Island warehouse failed to unionize, but warehouse workers in Albany, New York and Kentucky are seeking to organize with a union.
4. UN team digs into Ukraine’s nuclear power plant
A Russian military vehicle is seen by International Atomic Energy Agency (IAEA) experts as it leaves the Zaporizhia nuclear power plant in the course of the Ukrainian-Russian conflict outside Enerhodar in the Zaporizhia region of Ukraine, September 1, 2022. Escort convoys transporting missions.
Alexander Ermochenko | Reuters
On Thursday, UN International Atomic Energy Agency inspectors finally reached Ukraine’s Zaporizhia nuclear power plant after hours of delays due to shelling in the area. So long as Russian-occupied facilities remain vulnerable to catastrophe, neither will the organization leave. “We are not going anywhere,” IAEA head Rafael Grossi told reporters. “The IAEA is now there, at the plant, not working. We will stay there. We will continue to be at the plant.” The Zaporizhia nuclear facility is the largest in Europe.
5. Memestock: Movies
Charles Sykes | Bravo | NBCUniversal | Getty Images
A fun story about the last weekend of summer vacation. An all-star cast famous for “This is the End” star and “The Boys” executive producer Seth Rogen, and “SNL’s” Pete Davidson and Kim Kardashian. Challenge the wild story. 2021 years. Directed by Craig Gillespie (“I, Tonya”), “Dumb Money” is set to begin filming this month, and the film will be available for purchase. The film is based on Ben Mezrich’s non-fiction book The Antisocial Network. If the name sounds familiar, it’s because Mezrich also wrote an interesting article about his Facebook creation, “The Accidental Billionaires.” The book was adapted into his Oscar-winning 2010 classic The Social Network.
Disclosure: NBCUniversal is the parent company of CNBC and NBC, which broadcasts “Saturday Night Live.”
– CNBC’s Carmen Reinicke, Amelia Lucas, Annie Palmer, Sam Meredith, and Ashley Capoot contributed to this report.
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