Here are the most important news that investors need to start their trading day:
As the deadline for President Joe Biden’s deal approaches, Temporary labor agreement announced Early Thursday to avoid a national rail strike. The strike could have caused a major disruption to the flow of goods and essentials across the United States, stopping and costing more than 7,000 trains. Up to $2 billion per day. Negotiations between railways and trade unions have been suspended Unpaid sick time. The deal announced Thursday will improve rail workers’ wages and working conditions and give them “peace of mind about health care costs.” Biden He said in a statement. The parties had a deadline of 12:01 a.m. on Friday to reach an agreement and avoid a strike.
Trader Ryan Falvey works on the floor of the New York Stock Exchange.
Richard Drew | AP
stock futures contracts It was relatively flat on Thursday morning Investors await a fresh batch of economic data, including retail sales, import prices and unemployment claims. Earlier in the week, US stocks had their worst day since 2020 after August Consumer Price Index Report Headline inflation showed a rise of 0.1% m/m, despite lower gas prices. Then on Wednesday Product Price Index Report It showed a decline in wholesale prices of 0.1% in August. That gave him some relief, said Jeff Degraaf, founder and president of Renaissance Macro Research. “Inflation is really a bleak cloud over stocks, but I think it’s really important for people to keep in mind that it’s not about the good and the bad in the markets, it’s about the best and the worst, and inflation seems to be getting better,” he said on CNBC.Shutting Bell: Overtime. “
One of the biggest barriers to the widespread use of electric cars is the lack of a national network of charging stations. On Wednesday, Biden announced the release of The first round of financing for such a network That will finance the construction of plants in 35 states. Biden has been a staunch supporter of electric vehicles, signing off on legal incentives to encourage consumers to buy them and businesses to build them. “You’re all going to be part of a network of 500,000 charging stations — 500,000 — across the country, installed by IBEW,” Biden said at the Detroit Auto Show.And the Referring to the International Brotherhood of Electricity Workers Union.
2024 Ford Mustang
stronghold Unveiled a The seventh generation of the Mustang On Wednesday, a version of the iconic powerful car is fitted with two gas-powered engines. The Detroit automaker says redesigning the iconic car without any kind of electric is part of a “Mustang family” strategy that includes the all-electric motor Mustang Mach-E Cross. According to a report from Automotive News, a planned hybrid version, which could make the latest Mustang the last gas-powered muscle car from the Detroit automakers, has been cancelled. The Dodge Challenger and Chevrolet Camaro – the biggest competitors to the Mustang – are expected to become electric in the coming years.
Yvonne Chouinard, founder and owner of Patagonia.
Courtesy of Jeff Johnson and Patagonia
Patagonia founder Yvonne Chouinard says it is “Reimagining Capitalism,” And that he and his family are giving up ownership of the clothing maker he started nearly 50 years ago. All of the company’s profits will be allocated to projects and organizations that will protect wild lands and biodiversity and fight the climate crisis. The company is worth about $3 billion, according to New York times. The shares of the privately held company will now be owned by a climate-focused trust and a group of nonprofit organizations, called the Patagonia Purpose Trust and Holdfast Collective respectively. The company expects to contribute about $100 million annually, depending on the health of the business.
– CNBC’s Tanaya Machel, Emma Kennery, Leslie Joseph, Michael Wayland and Laura Kolodny contributed to this report.
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