Here are the most important news, trends and analysis investors need to start a trading day:
View of the New York Stock Exchange building on Wall Street in downtown Manhattan, New York City.
Roy Rocklin | Getty Images Entertainment | Getty Images
U.S. stocks rebound Higher during the pre-market on Wednesday Bond yields slow down. 10-year U.S. Treasury bond yields soared to a three-month high of over 1.567% Tech stocks frustrated Tuesday.this Nasdaq A loss of 2.8%. Large technology companies and growth companies are sensitive to higher interest rates because their high valuations are based on future growth and cash flow.this Standard & Poor’s 500 Index It lost 2%.this Dow Jones Industrial Average It fell 569 points, or 1.6%. With only two days left in September, the Dow fell by 3%; the S&P 500 fell by more than 3.7%; and the Nasdaq fell by nearly 4.7% in the historically underperformance month of the stock market.
2. With the government’s shutdown and debt default imminent, Biden has formulated a $3.5 trillion plan
President Joe Biden Cancelled a trip to Chicago that was supposed to focus on Covid vaccination so that he could stay in the White House Trying to build support on Wednesday His party’s 3.5 trillion dollar budget plan. Democratic leaders hope to use their small majority in the House and Senate to pass a social safety net spending package without Republican support.
- Meet Biden Senate Democrats who insist on centristism on Tuesday Joe Manchin And Kirsten Cinema.
- The progress of the Democratic budget measures may determine when the House of Representatives will vote on the $1 trillion infrastructure bill passed by the Senate.
- Also unresolved is the urgent need to provide funding for the federal government after the end of the fiscal year on Thursday to avoid a government shutdown and raise the country’s debt ceiling in the coming weeks to avoid default.
A United Airlines passenger plane landed at Newark Liberty International Airport in New Jersey, U.S., on December 6, 2019.
Chris Heglen | Reuters
United The airline says it has 593 employees Facing termination Failure to comply with the carrier’s Covid vaccination policy, which is one of the most stringent regulations of American companies. More than 96% of United’s 67,000 U.S. employees meet the vaccine requirements. The deadline for presenting the vaccination certificate is later on Monday. Approximately 2,000 United Airlines employees seek exemptions for religious or medical reasons. When the exemption was announced this summer, the Chicago-based airline said that employees who received the exemption would take unpaid leave temporarily.
On September 28, 2021, people test drive the Dream Edition P and Dream Edition R electric cars at the Lucid Motors factory in Casa Grande, Arizona.
Caitlin O’Hara | Reuters
Lucid has started production Its first batch of electric cars are for customers’ use, and it is planned to start delivery at the end of next month. This milestone is crucial for electric vehicle startups, which went public on the Nasdaq through the SPAC merger in July. It is regarded as the front runner in the competition with Tesla.The high-end Lucid Air Dream Edition will be Available in late October, Followed by cheaper models. Sober Indicates that more than 13,000 reservations have been received. The company told investors in July that it expects to produce 20,000 Lucid Air cars in 2022, generating more than $2.2 billion in revenue. Lucid’s stock price rose 7% before the market.
Tesla CEO Elon Musk stood in the foundry of the Tesla Gigafactory at a press conference. year.
Patrick Pooler | Photo Alliance | Photo Alliance | Getty Images
Tesla CEO Elon Musk Said that the U.S. government should avoid trying to regulate cryptocurrencies. “I think it’s impossible to break encryption, but it’s The government may slow down It’s progress,” Musk said at the Code Conference on Tuesday. Musk often touts his support for digital currencies on Twitter, and he is answering questions from New York Times columnist Karla Wisher. Tesla earlier this year Said that it bought Bitcoin to “maximize our cash return.” “
— The Associated Press and 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.