February 7, 2023

5 things to know before stock markets open on Thursday, December 1

U.S. Federal Reserve Chairman Jerome Powell speaks at the Brookings Institution in Washington, DC, Wednesday, November 29, 2022.

Valerie Plesch Bloomberg | Good pictures

Here are the most important news for investors to start their trading day:

1. Facilitates feeding

Federal Reserve Chairman Jerome Powell said small interest rate hikes could begin as early as this month, suggesting the central bank may soon ease its aggressive inflation-fighting measures. Powell spoke at the Brookings Institution on Wednesday, the Fed said it would continue to pursue a tighter monetary policy for some time — following four consecutive 0.75 percentage point rate hikes — but that it had seen “promising developments” so far. “As we approach the level of restraint sufficient to reduce inflation, it makes sense to moderate the pace of our rate hikes,” he said.

2. Markets eye inflation signals

Traders on the floor of the NYSE, November 30, 2022.

Source: NYSE

Stocks expect Create a market recovery After a sharp rally on Wednesday. The Nasdaq Composite and S&P 500 each posted three-day losses after Fed Chair Powell’s rate hike talk of a slowdown. The Dow gained more than 700 points during the session. But Thursday brings fresh data on personal income and spending, and Friday’s hotly anticipated jobs report.

3. Contract of railway on route

Freight train cars sit at a rail yard in Wilmington, California on November 22, 2022.

Mario Tama | Good pictures

The council approved the temporary labor agreement between the railways and their labor unions on Wednesday in an attempt to avoid a widespread and costly strike. In a vote of 290 to 137, the House approved new contracts for railroad workers that include pay increases of 24% over five years and an average of $11,000 plus an extra day of pay. In a separate vote, the House also passed a resolution to add seven days of paid sick time to contracts. Both measures now face a tight deadline for a vote in the Senate — without an agreement, the consequences of a potential strike could be felt this weekend.

4. SBF ‘Sorry’

Andrew Ross Sorkin speaks with FTX founder Sam Bankman-Fried during the New York Times DealBook Summit in the Apple Room at Jazz at Lincoln Center on November 30, 2022 in New York City.

Michael M. Santiago | Good pictures

Former CEO of cryptocurrency company FTX He apologized for the mistakes In conversation with Andrew Rose Sorkin at The New York Times Dealbook conference on Wednesday. Sam Bankman-Fried from the Bahamas said he was “not trying to defraud anyone” and was “shocked by what happened this month”. FTX filed for bankruptcy in November due to liquidity problems, a frenzy of user withdrawals and a failed acquisition by rival Binance.

5. Invasion of Ukraine

President of Ukraine Volodymyr Zelensky visited Kherson, Ukraine on November 14, 2022.

Press Service of the President of Ukraine | Reuters

Ukraine prepares a ‘countermeasure’ President Volodymyr Zelenskyy said Wednesday night of the offensive by Russia, but he did not elaborate on what it would look like. In recent months, Ukraine has retaken parts of the country from Russian forces. “We are analyzing the intentions of the aggressors and preparing a countermeasure – an even more powerful countermeasure than it was,” Zelensky said.

— CNBC’s Jeff Cox, Samantha Subin, Rohan Goswami, Mackenzie Sikalos, Christina Wilkie and Lori Ann LaRocco contributed to this report.

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