Below are the key news highlights that investors should consider as they kickstart their trading day:
1. Navigating Uncertainty
Futures were higher Wednesday morning, but U.S. stocks rebounded from a rough Tuesday as September trading closed. The Dow Jones had its best performance since March, while all three major markets fell more than 1%.
The day was filled with complaints that led to a decline in new home sales in August, a major lawsuit against Amazon (more on that below), and disappointing prospects at the Forum Consumer Confidence. . Please pay attention to business time updates.
2. FTC Accuses Amazon of Monopoly
The Federal Trade Commission (FTC) has filed a long-awaited lawsuit against Amazon in federal court, accusing the e-commerce giant of using its “monopoly power” to stifle competition. The FTC joins 17 states in arguing that Amazon brazenly uses anti-price protections to prevent sellers from encouraging low prices, forcing sellers to use Amazon services too expensive.
Amazon, is planning a legal battle in response, with its attorney warning that “if the FTC wins, the consequences could include reduced product selection, higher prices, slow delivery for consumers, and limited options for small businesses, making the difference”. result” is the target of copyright protection. ‘
2. Back to the Keyboard
Hollywood screenwriters were allowed to continue their work. The Writers Guild of America and the Motion Picture Alliance of America, which represents the screenwriters, and the Television Producers, which represent the Alliance Film studios, have been for approximately 150 days.
He announced the terms of the agreement that ended the strike that stopped shooting in the entertainment industry.
The agreement includes many provisions such as salary increases, protection against interference with intellectual property, expansion of the scope of services, the impact on health and retirement, and redundancy in broadcast services.
This development allows writers to return to their craft, while Screen Actors It is worth noting that the Guild is still protesting and the production of narrative films and television shows will remain silent until the matter has been resolved.
4. ‘Union Joe’ Joins Picket Lines
President Joe Biden on Tuesday in Michigan’ He also showed his support for the unions by participating in the strike of automotive workers on selected lines.
Speaking at a rally attended by UAW members, including President Sean Fein, Biden sent a message via radio, “Keep your promise.” You deserve great support and added benefits. We support them; Now it’s their turn to return the favor. “Michigan is important to Biden’s upcoming re-election hopes because he narrowly won the state in 2020 against his potential rival, former First President Donald Trump.)
He also won a narrow victory in 2016. But Trump won Michigan on Wednesday. He is scheduled to visit. , to address the issue of auto dealer mismanagement. Represented by the UAW.
5. Target Closes Stores, Citing Crime
Target is in cities including New York, Portland and San Francisco announced the closure of nine stores.In the recent challenges due to “casualties,” which include losses from lost, stolen or damaged items, Target cites retail theft as a particular hit for losers.
But while losses at Target and other retailers have increased due to organized crime in stores, research from the National Retail Federation, a trade group, shows the theft rate is not as high as the historical average, not an increase.
Summary
Today’s headlines include U.S. stocks rebounding after a rough Tuesday, FTC suing Amazon over antitrust claims, Hollywood writers returning to work after 150-day strike, President Biden backing Michigan unions, and Tower Jite Mall over theft.
It includes closing 9 stores. Despite concerns, research shows that armed robbery is not above the historical average. Stay informed about the latest events in the business world.
