The following is the most important news, trends and analysis that investors need to start their trading day:
1. Wall Street tracks go down after a bright spot in a tough month
People walk the New York Stock Exchange on August 9, 2021.
Andrew Kelly | Reuters
Futures U.S. stock markets fell on Thursday ahead of retail sales and weekly unemployment claims data, released at 8:30 a.m. ET. The Dow Jones Industrial Average and the S&P 500 met on Wednesday for their second gain in the last eight sessions. The Nasdaq broke a five-session losing streak. Prior to Thursday’s opening on Wall Street, the Dow, the S&P 500 and the Nasdaq had fallen during the hard-hitting September. The Dow stood at 2.3% of its closing record on August 16th. The S&P 500 was up 1.2% from its September 2 final record. The Nasdaq stood at 1.4% of its September 7 closing record.
2. Investors should see the latest retail sales, weekly unemployment claims data
Economists expect August retail sales to fall 0.8% after falling 1.1% in July. Initial unemployment claims for the week ended 9/11 are seen rising slightly to 320,000, from the low of 310,000 in the previous week’s pandemic era. Investors will examine data on Thursday for signs of how the economy’s resilience to high Covid cases in the U.S. due to the spread of the delta variant and how that might figure in Federal Reserve thoughts on when to start reduce bond purchases. Central bankers will have to hold the two-day September meeting next week.
3. Much of September’s losses historically come at the end of the month
A screen shows Federal Reserve Chairman Jerome Powell talking as a trader works inside a place on the New York Stock Exchange (NYSE) floor on August 27, 2021.
Brendan McDermid | Reuters
The Fed’s policy statement next Wednesday and the Fed head of the press conference, Jerome Powell, are wildcards for an already very weak period for stocks. Historically, most of the September losses occur in the latter half of the month. In fact, it looks like the S&P 500 is usually peaking around the 17th of the month, which is this Friday. Jim Cramer of CNBC and others on Wall Street have warned about this pattern. Until September, the index was down almost 1%. The Dow and Nasdaq, for the month, fell 1.5% and 0.6%, respectively. However, so far, the S&P 500 has risen about 19.3%; the Dow rose above 13.7%; and the Nasdaq rose 17.6%.
4. The FDA makes a cautious tone before the vaccine booster meeting
Roads and a medical syringe have been displayed on the front of the U.S. Food and Drug Administration (FDA) logo. The FDA finds the COVID-19 vaccine.
Pavlo Gonchar | LightRocket | Getty Images
5. Southwest Airlines introduces new incentives against the Covid vaccine for staff
A passenger plane operated by American Airlines Group Inc. lands at Miami International Airport in Miami, Florida, USA, on Wednesday, June 16, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Southwest Airlines has introduced new incentives to vaccinate staff against Covid. The Dallas-based carrier will offer additional pay to workers who demonstrate full vaccination in mid-November, according to a note from the company, which was reviewed by CNBC. U.S. airlines have taken different approaches to vaccinating staff. United has demanded the vaccination of its U.S. workforce of more than 67,000 people, saying it will put staff receiving religious exemptions on unpaid temporary leave. Delta Air Lines plans to charge unvaccinated employees an additional $ 200 a month for the company’s health insurance starting in November.
– 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.