5 things to know before the stock market opens on Friday September 9

Trade on the NYSE floor on August 30, 2022.

Source: NYSE

Here are the most important information investors need to start their trading day:

1. That Friday feeling

Stock futures pointed to a positive open Friday morning as U.S. markets headed for a possible winning week after three straight losses. All three major indexes closed higher on Thursday, even after Fed Chairman Jerome Powell again said the central bank was laser-focused on tackling inflation. “I can assure you that my colleagues and I are strongly committed to this project and we will continue until the job is done,” Powell said during an audience Thursday at the Cato Institute. Oil futures also rose slightly on Friday morning, after falling on concerns about slowing demand.

2. Yellen touts Biden’s economy

United States Treasury Secretary Janet Yellen at Ford’s Rouge electric vehicle plant in Dearborn, Michigan.

Mike Wayland

Treasury Secretary Janet Yellen seized an opportunity at a Ford factory in Michigan to portray the Biden administration’s economic track record as better than people think. The biggest thing weighing on the president’s approval ratings is voters’ poor opinion of his handling of the economy, especially when inflation has risen. But as gas prices have fallen, Biden’s ratings have started to rebound, and the administration is keen to promote a few wins ahead of the midterms. “Taken together, the bipartisan Infrastructure Act, the CHIPS Act and the Inflation Reduction Act have authorized one of the most significant investments our country has ever made,” Yellen said Thursday. “I firmly believe that they will help us achieve stable and sustainable growth and move us towards a fairer and more resilient economy.”

3. Tesla weighs a lithium refinery in Texas

A giant cowboy boot is displayed outside the Tesla Giga Texas manufacturing plant during the ‘Cyber ​​Rodeo’ grand opening party on April 7, 2022 in Austin, Texas.

Suzanne Cordeiro | AFP | Getty Images

Electric vehicle giant Tesla plans to open a lithium refining facility in Texas, months after CEO Elon Musk said the company may have to refine its own lithium as prices for the resource soar. The company told Texas officials that such a plant would be “the first of its kind in North America.” Tesla also wants tax breaks from Texas. “In the case of investment in this proposed project in Texas, the decision will be based on a number of business and financial considerations, including the possibility of obtaining relief from local property taxes,” the company told the state.

4. Britain after Elizabeth

Queen Elizabeth II died on Thursday aged 96, concluding a 70-year reign that covered Britain’s recovery from World War II, the empire’s final decline, the battles of Margaret Thatcher with the unions, the formation of the European Union and the exit of the United Kingdom. , and the Covid pandemic. Elizabeth’s death marks a new era of uncertainty for Britain, writes CNBC’s Karen Gilchrist. Just days before her death, the Queen met a new prime minister, Liz Truss, who is tasked with taming the toughest economy the nation has faced in years. The pound hit its lowest level in 37 years this week, and Truss’ government aims to ease the country’s cost of living crisis by capping energy bills. It will be tough medicine, and Elizabeth will not be there to rally the morale of the British. It’s up to King Charles now.

5. Apple’s Prestige Game

Still from “Severance” from AppleTV+.


The Emmys are on Monday and Apple TV+ is up for several major awards. The streaming service is less than three years old, and it doesn’t produce the volume of content that, say, Netflix or HBO do. But with buzzing, critically acclaimed shows like “Ted Lasso” and “Severance,” Apple, already the elite personal gadget maker, is trying to reclaim its position as a streaming star player, writes Sarah Whitten of CNBC. Apple TV+ made Hollywood showbiz history earlier this year when its “Coda” became the first streaming service to win Best Picture at the Oscars. It’s not necessarily about subscribers for Apple either. “For Apple, the streaming service is just the means to the end – and the end is more sales of iPhones, Macs, Apple TVs, and more,” said Peter Csathy, Founder and president of the consulting firm Creative Media. “As long as Apple TV+ screams quality, it serves its purpose in Apple’s overall engine.”

CNBC’s Sarah Min, Chelsey Cox, Arjun Kharpal, Karen Gilchrist and Sarah Whitten contributed to this report.

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