Below are the most important news, trends and analyzes that investors need to start their trading day:
1. Futures on slightly positive stocks, as Wall Street expects job data
Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures were slightly higher on Thursday, as Wall Street expects key labor market reports that will provide insight into the U.S. economic recovery. Dow futures posted an opening gain of about 60 points, while futures for the S&P 500 and Nasdaq were also in the green. The futures move follows a relatively gentle session on Wednesday, which saw the 30-share Dow closed lower at 48.20 points, or 0.1%, and the S&P 500’s broad lead only at 0, 03%. However, the Nasdaq, which has been very technological, rose 0.3% to another record close. The S&P 500 and Nasdaq have gained in three of their last four sessions, while the Dow has declined in the past three days. The ten-year Treasury yield fell about a basis point on Thursday to 1.29%.
2. Initial unemployment claims are expected to reach a low pandemic
A job seeker fills out an application form during a catering and hospitality trade fair in Torrance, California, on June 23, 2021.
Eric Thayer / Bloomberg via Getty Images
According to Dow Jones estimates, initial unemployment claims for the week ended Saturday will add up to 345,000, which would be the lowest level since the Covid pandemic began in March 2020. On August 26, the Department of Labor reported that on August 26, unemployment insurance was first introduced for unemployment insurance. According to the Dow Jones, consensus forecasts predict that the U.S. economy will add 720,000 jobs during the month, and that the main unemployment rate will fall to 5.2% from 5.4%.
3. Apple plans to change the payment policy for certain applications
Apple allows some apps to provide a link to their websites, where users could sign up directly to get a paid subscription. The change, which the iPhone maker announced Wednesday, comes as Apple faces intense criticism and regulatory scrutiny over its App Store payment policies. The change is expected to take effect next year and applies to what are known as reading apps, such as Netflix and Spotify. Prior to this adjustment, app makers had to go through Apple’s own billing service, which means a 15% to 30% reduction in in-store purchases, rather than offering users l option to register on developer websites. Purchases from the games app have yet to go through the App Store.
4. The divided Supreme Court declines to block the Texas abortion law
A worker clears the first steps when the morning rises over the U.S. Supreme Court building, still closed to the public during the outbreak of coronavirus disease (COVID-19) in Washington on April 26. 2021.
Jonathan Ernst | Reuters
In a 5-4 decision Wednesday afternoon, the Supreme Court declined to block the implementation of a Texas law banning most abortions in the nation’s second most populous state. Chief Justice John Roberts joined the three Liberals in the high court – Judges Stephen Breyer, Sonia Sotomayor and Elena Kagan – in dissent. The order of the majority is “impressive,” Sotomayor wrote. He argued that Texas law, which prohibits abortion after six weeks of pregnancy, when many women have not yet learned they are pregnant, “violates nearly 50 years of federal precedent.”
The court’s decision was in response to an emergency request filed earlier in the week by abortion providers and advocates who tried to prevent the law from coming into force after midnight on Wednesday. However, the judges suggested that other legal challenges may be presented against Texas law, meaning that the Wednesday order that allows for its implementation may not be the final word on its constitutionality.
5. Ida hits New York, New Jersey, leaving at least eight dead
A worker unblocks the drains of a street affected by the waters of Brooklyn, New York, in early September 2, 2021, as instant floods and record rainfall caused by the remnants of Storm Ida swept through the area.
Ed Jones | AFP | Getty Images
State of emergency was issued for New York and New Jersey after being battered by the aftermath of Hurricane Ida and leaving at least eight people dead. Torrential rains flooded streets and homes in the region Wednesday night, and service on many of New York City’s subway lines was suspended as water overflowed the transportation system. According to the National Weather Service, record rainfall was recorded in Central Park. At least one tornado was recorded in New Jersey, destroying several homes. In Louisiana, where Ida made landfall Sunday, approximately 900,000 utility customers ran out of electricity Thursday morning, according to the state Public Service Commission. President Joe Biden is scheduled to visit the state on Friday to see the damage from the storm.
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