5 things you need to know before the stock market opens on Tuesday, September 28

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Here are the most important news, trends and analysis investors need to start a trading day:

1. Nasdaq futures fell, bond yields soared, hitting technology stocks

The Nasdaq logo was displayed on the New York Nasdaq Market website on September 2, 2015.

Bren Dank Demead | Reuters

U.S. stocks fell before the market on Tuesday, Indicates further decline in September There are only three days left in the weakest month in history of the year.

  • Nasdaq futures fell 250 points, or 1.7%. Standard & Poor’s futures fell nearly 1%. Dow futures fell about 0.5%.this Nasdaq with Standard & Poor’s 500 Index It fell on Monday.this Dow Jones Industrial Average Rise modestly. Monday’s disagreement With the rise in U.S. Treasury bond yields.
  • this 10-year Treasury bond yield, Economic optimism and inflation concerns have increased, Stay above 1.5% On Tuesday, it returned to its lowest level since June. Higher bond yields that are contrary to price movements may expose the high valuations of technology stocks, thereby putting pressure on them.
  • However, energy stocks are higher in pre-market trading due to rising U.S. oil prices Rose About 1% to about US$76 per barrel, close to a three-year high. As business activities affected by the new crown pneumonia epidemic continue to recover, U.S. oil prices have soared by 77% this year.

2. Fed Powell admits that inflation may last longer

Federal Reserve Chairman Jerome Powell testifies at the U.S. House of Representatives Oversight and Reform Subcommittee hearing on the coronavirus crisis on June 22, 2021, on Capitol Hill, Washington, U.S.

Graeme Jennings | Reuters

Federal Reserve Chairman Jerome Powell, In a speech prepared for the hearing of the Senate Banking Committee on Tuesday, Warn lawmakers The reason for the recent increase in inflation may last longer than expected. The governor of the central bank stated that economic growth “continues to strengthen,” but faces upward pressure on prices caused by supply chain bottlenecks and other factors. These remarks are part of the mandatory testimony Powell must provide to Congress on the Fed’s economic response to the Covid pandemic. He attended the House Financial Services Committee on Thursday.

3. Pfizer asks the FDA to eliminate the Covid vaccine for children aged 5-11

On August 23, 2021, a bottle of Pfizer-BioNTech Covid-19 vaccine was seen at a pop-up vaccine clinic in the Arleta community of Los Angeles, California.

Robin Baker | AFP | Getty Images

Pfizer Announced on Tuesday that it Ask the FDA Eliminate the Covid vaccine for children aged 5 to 11 for emergency use.Last week, US-based Pfizer and its German partners Biological Technology It is said that the smaller two-dose regimen is safe and produced a “strong” immune response in clinical trials in children of this age. According to data from the American Academy of Pediatrics, at the time of the application to the US health regulatory agency, the infection rate of young children soared and reached its highest point in early September.

4. The Republicans in the Senate block the bill to fund the government and suspend the debt limit

Senate Minority Leader Mitch McConnell (R-KY) answers questions in the U.S. Capitol after the Republican Policy Luncheon in Washington, DC on September 21, 2021.

Win McNamee | Getty Images

Senate Republicans blocked A bill passed by the House of Representatives will prevent the federal government from shutting down and potential US debt defaults. Legislators need to pass an appropriations bill before Thursday to avoid a government shutdown, and they must suspend or raise the debt ceiling sometime in the next few weeks to prevent defaults. The Democrats may be forced to suspend the debt limit on their own, which may be part of their $3.5 trillion budget settlement bill.

5. Ford and SK Innovation spend US$11 billion to build new U.S. factories

American car manufacturer Ford Motor Company and its Korean battery partner SK Innovation plan to build a battery manufacturing complex in Kentucky, which will open in 2025, which can be seen in the artist’s interpretation released on September 27, 2021.

Ford Motor Company | Handout | Via Reuters

Shares FordAfter closing 2.7% on Monday, it was up 3.5% before the market. American car manufacturer and South Korean battery supplier SK Innovation Announced plan Investing more than 11.4 billion US dollars in new facilities in the United States, which will create nearly 11,000 jobs to produce electric cars and batteries. Ford CEO Jim Farley said that Ford does not expect to assume any additional debt to fund these programs. He said that these measures are part of his plan to turn losses into profits at Ford, which will be funded through company profits.

— Reuters contributed to this report.Follow all market behaviors like a professional CNBC Professional Edition. Get the latest information about the pandemic CNBC’s Coronavirus Report.

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