Here are the most important news, trends and analyzes that investors need to start their trading day:
1. Dow starts to bounce after closing the worst month of the year
Traders work on the floor of the New York Stock Exchange (NYSE) on September 30, 2021 in New York City.
Spencer Platt | Getty Images
On the first day of October after the worst month of the year, the Dow Futures rose nearly 200 points on Friday, reversing the previous sharp decline. The Dow Jones Industrial Average, which was comparatively better than last week’s S&P 500 and Nasdaq, suffered its most severe slide on Thursday, down 1.6%. The S&P 500 is down about 1.2%. Nasdaq fell 0.4%, yielding some relief from bond yields.
- In September, the Dow fell 4.3%; The S&P 500 is down about 4.8%; And Nasdaq fell 5.3%.
- In the third quarter, which also ended Thursday, the Dow fell 1.9%; The S&P 500 gained 0.2%; And Nasdaq fell 0.4%.
- However, the three criteria were still significantly higher for the year, with total profits approximately 10.6%, 14.7% and 12.1%.
- October Historically, there have been some violent sales in October but overall seasonal performance for stocks began.
2. The inflation measure is used by the Fed to determine the expected policy of staying higher
The 10-year Treasury yield was lower on Friday, down 1.5%. Earlier this week, the 10-year yield saw a three-month high above 1.567%. The government is set to release an inflation measure to determine the Federal Reserve’s monetary policy. The price index for core personal spending is expected to rise 3.5% in August from a year earlier. This would be slightly lower than the 3.6% annual growth in July, which is more than 30 years. Federal Reserve Chairman Jerome Powell said this week that inflationary pressures may be longer than expected, citing supply chain disruptions as the main reason.
3. Biden signs interim funding bill to prevent official shutdown
Congress blocked an official shutdown just before midnight on Thursday. President Joe Biden has signed a bill that will fund federal operations until Dec December. However, lawmakers still have to deal with another one: Congress does not raise or suspend Congress before October 18th. Of the same bill. Senate Republicans blocked the law, forcing Democrats to meet the need for money first.
4. Biden Dam fails to break stalemate, House infrastructure vote postponed
Biden failed to break the democratic stalemate that threatened his domestic agenda. A group of Progressive House members and two centrist Democratic senators were miles away late Thursday on important issues. House Speaker Nancy Pelosi originally scheduled a vote on the Senate-approved bilateral বি 1 trillion infrastructure bill on Thursday, but postponed it because there was no vote to pass it. House progressives worry if they pass the infrastructure bill by the moderates, they will lose leverage to push the moderates to return a transformative budget reconciliation bill worth at least another tr trillion dollars.
5. Mark seeking urgent approval for oral covid treatment
Merck and Rizbak Biotherapeutics plan to seek urgent approval for their oral antiviral treatment for Covid after announcing “mandatory results” in clinical trials. The Dow Stock Merk rose nearly 8% in Friday’s primary market. The companies said on Friday that the drug Molnupirvi reduced the risk of hospitalization or death for patients with mild to moderate covidosis by about 50%. Molnupiravir is administered orally and works by inhibiting the replication of covid inside the body. Pfizer is doing its own oral antiviral work. The antiviral remediation of Gilead Sciences, which is administered via IV, was cleared for emergencies a year ago.
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