5 things to know before the stock market opens Thursday, Oct. 7
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Investors need the following news, analysis and trends to help them start trading:
1. As optimism grows for debt celling deals, Dow will jump
Traders at the New York Stock Exchange floor, October 6, 2021.
Brendon McDermid | Reuters
Dow futures rose 300 points on Thursday, as Democratic senators indicated they are open to accepting a debt limit offer from the Senate GOP leader Mitch McConnellThat would enable an emergency rise into December. Optimism about a possible dealWall Street suffered sharp Wednesday morning losses and then made modest gains towards the close. Dow Jones Industrial AverageIt is the S&P 500And the Nasdaq. The three benchmarks all tracked Thursday in pursuit of three-session winning streaks.
2. Tuesday and Friday: Bond yields remain ahead of job data
The job fair will take place in Louisville, Kentucky on June 23rd, 2021.
Luke Sharrett/Bloomberg via Getty Images
The 10-year Treasury yieldIt was steady on Thursday remained above 1.5%The Labor Department will be publishing a weekly review of initial jobless claims ahead of its weekly report. Economists forecast that the first time filing for unemployment benefits is expected to be 345,000 in week Oct. 2. It would also be less than the previous week’s 3622,000 new claims. Friday is the date that ADP releases its September employment report. ADP released Wednesday’s report on private sector trends in hiring. It was stronger than anticipated.
3. McConnell would like to allow Dems the time they need to take action on their debt ceiling issues alone
Senate Minority Leader Mitch McConnell, from Kentucky, addresses a press conference after the luncheons of Senate Republican policy at Washington, D.C. on Tuesday, September 14, 2021.
Bloomberg | Bloomberg | Getty Images
McConnell announced Wednesday that he had accepted a debt limit offer would give Democrats timeTo use their majority on Capitol Hill, to create a bill that would increase the borrowing limit without Republican votes. October 18th is the deadline for action to fix the U.S. debt limit and prevent a credit default. McConnell’s offer will force Democrats to accept it. The deadline for Congress to raise the debt limit, fund the government, and finance the government again before they head home for the holidays.
4. Biden announces Covid mandates for large businesses
Joe Biden (US President) speaks on the bipartisan Infrastructure Bill and his Build back Better Agenda at the International Union of Operating Engineers training facility in Howell, Michigan. This was October 5, 2021.
Nicholas Kamm | AFP | Getty Images
President Joe BidenThis Thursday is set to visit ChicagoTo meet with United Airlines CEO and other local Democratic leaders, as he promotes his decision not to mandate Covid vaccinations for large-firm employees. Biden ordered federal employees and contractors to get vaccinated last month. There were few exceptions. He suggested that private companies with more than 100 employees should require their workers to be vaccinated every week.
5. George Soros’s fund has’some’ Bitcoin, confirms CEO of the Fund
George Soros (Hungarian-born US investor, philanthropist, and investor) delivers a speech in Davos on the sidelines of the World Economic Forum annual meeting.
Getty Images| AFP | Getty Images
Soros Fund Management was founded in 2000 by billionaire investor Philanthropist. George SorosThe family office has now revealed that it is the owner of bitcoin. The family office owns “some coins … but not a lot,” Dawn Fitzpatrick, CEO and chief investment officer of Soros Fund Management, said in an interviewBloomberg Event this Week Although bitcoin was lower on Thursday, it has made a remarkable comeback recently, with trading at $54,000.
— The Associated Press and Reuters contributed to this report. All market actions can be followed like a pro. CNBC Pro The latest information on pandemics is available here CNBC’s coronavirus coverage
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