Here are five key things investors need to know when starting their trading day:
1. District Four
this S&P 500 Index Thursday was the fourth consecutive day of gains, rising 0.75%. this Nasdaq Index Tech stocks performed even better, rising 1%, as investors snapped up technology stocks Dow Jones Industrial Average It rose 235.06 points, or 0.58%. Investors are focused on Thursday’s producer price index, the final inflation data ahead of next week’s Federal Reserve meeting. The report measures the average change in prices for goods and services received by businesses, Wholesale prices rose 0.2% August, in line with expectations. Follow real-time market updates.
2. Boeing workers strike
More than 30,000 boeing company Workers are on strike. factory employee Get off work on Friday They overwhelmingly rejected a tentative contract agreement between the aircraft manufacturer and the International Association of Machinists and Aerospace Workers. The strike will halt production of Boeing’s best-selling planes as the company tries to recover from a series of missteps. IAM District 751 President Jon Holden called the work stoppage an “unfair labor practice strike.” Boeing said in a statement that the company remains “committed to rebuilding its relationship with employees and unions, and we are ready to return to the bargaining table to reach a new agreement.”
3.Adobe Slides
A sign hangs outside the Adobe office on December 13, 2023 in San Francisco, California.
Justin Sullivan | Getty Images
adobe report Third quarter results That beat Wall Street expectations for sales and earnings. However, the company’s stock price fell about 8% in pre-market trading on Friday because the company’s fourth-quarter performance guidance failed to meet the target. Analysts polled by the London Stock Exchange had expected fourth-quarter sales of $5.61 billion and earnings of $4.67 a share, but the company said it expected earnings of $4.63 to $4.68 a share on revenue of $5.5 billion to $5.55 billion. Dollar. At the same time, the company said subscription revenue increased 11% year-on-year in the third quarter.
4. HIV prevention injections
On April 29, 2020, the logo of Gilead Sciences Pharmaceutical Company appeared in Oceanside, California.
Mike Black | Reuters
drug manufacturer Gilead Data released Thursday showed the company’s twice-yearly injection of lenacapavir HIV infection rate reduced by 96% In a great trial. Additionally, the company said 99.9% of participants who received the shot were HIV-free. There were only two cases among 2,180 people in the phase three trial. The positive data opens the door for the U.S. Food and Drug Administration to potentially approve the drug for HIV prevention.
5. A major package manufacturer?
Presentation by Coach and Michael Kors.
Jeff Greenberg | Underground CG | Universal Image Group | Getty Images
New York Fashion Week is over, but two major retailers are hosting a different kind of show in the city this week. Coach’s boss tapestry and owner of Michael Kors Capri In a Manhattan court, they argued that they should be allowed to merge in a deal worth $8.5 billion. The initial merger was announced more than a year ago, but the Federal Trade Commission filed a lawsuit in April to block the merger, saying it would harm competition, raise handbag prices and leave employees with worse wages and benefits. Now, the FTC and the companies are discussing competition in the handbag space and why they think the deal makes sense. Learn more about the three key issues that will impact this case here.
—CNBC’s Pia Singh, Hakyung Kim, Leslie Josephs, Kif Leswing, Annika Kim Constantino and Melissa Repko contributed to this report.
