Below are the most important news, trends and analyzes that investors need to start their trading day:
1. S&P 500, Nasdaq was added to the records when two days are left in August
On August 16, 2021, tourists are lined up to take pictures at the Charging Bull statue in New York City’s financial district, United States.
Tayfun Coskun | Anadolu Agency | Getty Images
U.S. futures rose slightly Monday after the S&P 500 and the Nasdaq closed Friday at record highs. The S&P 500 finished above 4,500 for the first time. The concentration of the Dow Jones Industrial Average led it to close 0.5% of its record on 16 August. Shares rallied Friday after Federal Reserve Chairman Jerome Powell noted that central bankers are in no hurry to raise interest rates. He said decision-making on rate hikes goes in a different direction from reducing bond purchases, which he acknowledged could begin this year. With two days to go in August, the Dow rose nearly 1.5%, the S&P 500 was 2.6% higher and the Nasdaq was up 3.1%.
2. This Friday’s jobs report may determine the future of the Wall Street rally
The continuity of Wall Street earnings may depend on the government’s latest monthly employment report, which will be released on Friday. While claiming that the Fed has seen sufficient progress in inflation, Powell said the labor market has not yet improved enough to start reducing volume. Economists expect 750,000 non-agricultural jobs to be created in August, with the country’s unemployment rate set to fall to 5.2%. The economy created 943,000 positions in July and the unemployment rate fell to 5.4%. Bond yields were steady early Monday, with a ten-year treasury above 1.3%.
3. Darkness of New Orleans after Hurricane Ida; almost all of the Gulf’s oil production stopped
A satellite image shows Hurricane Ida in the Gulf of Mexico and approaches the coast of Louisiana, USA, on August 29, 2021.
NOAA | by REUTERS
U.S. oil prices fell modestly early Monday after rising 10.6% during the strongest week in more than a year. Gasoline prices rose more than 1 percent after Ida arrived in Louisiana on Sunday as a Category 4 hurricane. Ida was reduced to a tropical storm when it moved inland, but more than one one million Louisiana public customers were without electricity, including the entire city of New Orleans. Ida hit land 16 years after the aftermath of the devastating Hurricane Katrina. Prior to Ida, more than 95% of U.S. Gulf crude production was closed. Many refineries were also closed.
4. US works to get Americans out of Afghanistan as Tuesday’s deadline expires
Members of the US service attend an evacuation checkpoint (ECC) during an evacuation at Hamid Karzai International Airport, Kabul, Afghanistan, on August 26, 2021.
Staff Sergeant. Víctor Mancilla | US Marine Corps via Reuters
Senior Biden administration officials say the U.S. has the capacity to evacuate some 300 U.S. citizens who remain in Afghanistan and want to leave before the president’s Tuesday deadline to withdraw U.S. forces from the U.S. war-torn country. The evacuations became chaotic as the US government was shocked when the Afghan army collapsed and the Taliban returned to power on 15 August. , which carried out a deadly attack on Kabul airport last week.
5. Average daily covid deaths in the U.S. increase as the delta variant spreads
The seven-day average of new daily cases of Covid in the United States rose 5% to 155,277 as of Sunday. During the same period, daily deaths from Covid averaged 1,290, an increase of 29% over the previous week, fueled by the delta variant. Cases in Israel, a barometer of U.S. trends, saw daily infections reach a pandemic peak of more than 12,100. A few months ago, after an aggressive national vaccination campaign, new cases in Israel had dropped to double digits and there were a few days in May and June where no new infections were recorded. About 63% of the Israeli population has been completely vaccinated. In the US, 52.3% of the population has been completely vaccinated.
– Associated Press and Reuters 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.