Below are the most important news, trends and analyzes that investors need to start their trading day:
1. Stock futures rise ahead of Fed Chief Powell’s speech
A trader works at the New York Stock Exchange (NYSE) plant in New York, USA, on Monday, August 23, 2021.
Michael Nagle | Bloomberg | Getty Images
2. The inflation indicator that the Fed likes is out of the bell
Jerome Powell, president of the U.S. Federal Reserve, arrives at a Senate Banking Committee hearing in Washington, DC, on Thursday, July 15, 2021.
Al Drago | Bloomberg | Getty Images
The Fed’s favorite inflation gauge comes out at 8:30 am ET. Economists expect the personal consumer spending price index for July to rise 3.6% year-on-year, almost the same amount as the previous month. Rising inflation has been a concern in the markets. Powell has said in the past that while price pressure is rising, they are transient. Several Fed officials speak Friday before and after Powell’s 10 a.m. ET. speech. Investors expect the president to offer guidance on when central bankers might consider reducing pandemic-era bond purchases.
3. Oil rises as the storm approaches the productive center of the Gulf of Mexico
The bombings operate near Loco Hills on April 23, 2020 in Eddy County, New Mexico.
Paul Ratje | Getty Images
U.S. oil prices, well on track for strong weekly gains, rose 2% early on Friday due to concerns about short-term supply disruptions as energy companies began to close the production in the Gulf of Mexico ahead of a potential hurricane forecast that would arrive this weekend. Marine wells in the Gulf of Mexico account for 17% of U.S. crude oil production. More than 45% of the total U.S. refining capacity is located along the Gulf Coast. Any move of the dollar in Powell’s speech could affect oil prices.
4. The United States, allies, warns of more likely terrorist attacks in Afghanistan
The injured were taken to a hospital by an unspecified number of victims reported after two explosions at Hamid Karzai International Airport in Kabul (Afghanistan) on August 26, 2021.
Sayed Khodaiberdi Sadat | Anadolu Agency | Getty Images
The United States and its allies have warned that more terrorist attacks are likely in Kabul as Tuesday’s deadline for military withdrawal from Afghanistan approaches. Two suicide bombers attacked on Thursday near Kabul’s Hamid Karzai International Airport, where thousands of people are still waiting to be evacuated after the Taliban captured the country. Thirteen U.S. servicemen were one of more than 100 killed in the attacks. President Joe Biden on Thursday vowed to complete evacuations and prosecute ISIS-K leaders, who claimed responsibility for the bombings.
5. Covid cases in the US show signs of slowing down, even as deaths rise again
New daily Covid cases continue to rise in the United States, to the highest levels since January to a seven-day average of about 156,000. This is an increase of 10% over the previous week. The average of seven days of new deaths per Covid daily was 1,194. This is 39% more than the previous week.
The rate of infections, however, shows signs of slowing down, especially in some states most affected by the delta variant. The United States has seen a handful of maximum cases throughout the pandemic. They reached an average of seven days of 251,000 a day in January. The hospitalization curve across the country may also be flexed, as revenue growth appears to be slowing.
– Reuters and Associated Press contributed to this report. Follow all the actions of the market as a professional CNBC Pro. Get the news about the pandemic with CNBC coronavirus coverage.