Below are the most important news, trends and analyzes that investors need to start their trading day:
1. The S&P 500 achieves the historically tough September winning streak
A trader works on the New York Stock Exchange (NYSE) in Manhattan, New York, USA, on August 19, 2021.
Andrew Kelly | Reuters
U.S. stock markets began the nine-month high on Wednesday after the S&P 500 posted seven consecutive monthly gains, the longest winning streak since the ten-month race that ended in December 2017. market share, despite falling slightly on Tuesday, rose 2.9% in August. The Dow Jones Industrial Average and the Nasdaq also fell slightly on Tuesday, but rose 1.2% and 4% in August, respectively. Prior to Wednesday’s opening, the Dow was just over 0.7% from last month’s record close. The S&P 500 and Nasdaq were shy at the close of Monday’s record. September can be dangerous for stocks, with the month historically lower than higher.
2. Again, ADP’s view on monthly hiring of American companies disappointed
On August 16, 2021, in Arlington, Virginia, a woman was walking along a “Now Hiring” sign in front of a store.
Olivier Douliery | AFP | Getty Images
ADP said Wednesday that U.S. companies added only 374,000 jobs in August, well below estimates of 600,000. ADP’s look at private sector employment gains in July was also a big failure. These figures have not been a great barometer during Covid of what the monthly government job data could show. Economists expect the Department of Labor report to show 720,000 non-farm payrolls in August on Friday and a drop in the country’s unemployment rate to 5.2%. The economy created 943,000 new jobs better than expected in July, as the unemployment rate fell to 5.4%. The latest weekly count of initial unemployment claims came out on Thursday.
3. Oil prices rise ahead of OPEC + meeting as Gulf coast assesses Ida damage
Broken power lines, destroyed by Hurricane Ida, are seen along a road near an oil refinery on August 30, 2021 off LaPlace, Louisiana.
Michael Robinson Chávez | The Washington Post | Getty Images
Oil prices rose modestly ahead of Wednesday’s OPEC + meeting. The Organization of the Petroleum Exporting Countries and its Russian-led allies is expected to fulfill a plan to add 400,000 barrels a day each month through December. U.S. oil prices broke four-month gains in August, falling nearly 7.4% in the worst month since October. This is despite a 10.6% increase last week ahead of Hurricane Ida, which hit the Gulf Coast on Sunday, temporarily halting oil production and refinery operations. About 985,000 Louisiana customers stayed in the dark early Wednesday as the region suffers from sweltering heat.
4. Biden will meet with the President of Ukraine and defend the end of the war in Afghanistan
Ukrainian President Volodymyr Zelensky meets with New Hampshire U.S. Sen. Jeanne Shaheen, Ohio Sen. Rob Portman and Connecticut Sen. Chris Murphy in Kiev, Ukraine. June 2021.
Ukrainian Presidency | Anadolu Agency | Getty Images
President Joe Biden will present a comprehensive package of humanitarian and military aid to Ukraine on Wednesday, during a visit by Ukrainian President Volodymyr Zelenskyy to the White House. A now infamous call between Zelenskyy and Donald Trump in 2019 was the cornerstone of the former U.S. president’s first case of impeachment.
U.S. President Joe Biden talks about the end of the war in Afghanistan in the state dining hall of the White House in Washington, DC, on August 31, 2021.
Brendan Smialowski | AFP | Getty Images
In a speech to the nation on Tuesday afternoon, Biden defended his decision to end the U.S. war in Afghanistan after nearly 20 years, saying the era of major U.S. military deployments is over. to rebuild other nations. The Taliban, ousted from power after the 9/11 attacks, now control almost all of Afghanistan.
5. CDC chief urges unvaccinated Americans to refrain from Labor Day travel
Director of the Centers for Disease Control and Prevention Rochelle Walensky listens during the Senate Health, Education, Work and Pensions Committee hearing at Capitol Hill in Washington on July 20, 2021.
Stefani Reynolds | AFP | Getty Images
CDC Director Dr. Rochelle Walensky advises unvaccinated Americans not to travel during Labor Day weekend as the U.S. fights an increase in Covid hospitalizations driven by the spread of the variant highly contagious delta. Walensky on Tuesday also recommended spending time outside with other family members vaccinated during the holidays, and urged people to wear masks indoors. As of Monday, the seven-day average of new daily cases of Covid in the U.S. rose 6% to nearly 160,000. During the same period, new deaths for Covid in the United States rose by an average of 29% from a week ago to 1,329.
– 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.