5 things to know before the stock market opens on Friday, September 23


A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, September 9, 2022.

Brendan McDermid | Reuters

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

1. Is this week over yet?

US stock futures It fell on Friday, putting the markets on track for a losing week. The Nasdaq, in particular, has had a rough time, as stocks of high-risk technology companies are more sensitive to changes in interest rates. The three major indexes fell again on Thursday, a day after the Federal Reserve announced its decision to raise its benchmark interest rate by another three-quarters of a point to the highest mark in more than 14 years. However, the central bank’s warning that it could raise interest rates to 4.6%, from the current 3% to 3.25%, raised concerns that policy makers could do too much too late. Bond yields have also appeared, raising fears of a recession on the way in 2023.

2. FedEx is trying to stop the bleeding

FedEx cargo plane

Leslie Josephs | CNBC

Speaking of recession fears, FedExThe CEO upset investors last week, when he was CNBC’s Jim Cramer said: He thinks we’re on the cusp of a global recession, after the delivery company pull his steering He cited a drop in demand. Its stock fell on the news. FedEx’s problems have made investors and analysts wonder how much economic pressure stems from it Company’s shortcomings. On Thursday, FedEx released its full earnings report – Inadvertently before the market closes – He unveiled a plan to cut costs between $2.2 billion and $2.7 billion during fiscal year 2023. The company also said it would increase freight rates as well.

3. Putin’s growing nuclear threat

Russian President Vladimir Putin attends a meeting with Novgorod Region Governor Andrei Nikitin in Veliky Novgorod, Russia, September 21, 2022.

Gavril Grigorov | Sputnik | via Reuters

The Russian government is sticking to President Vladimir Putin’s warning that he could use “every means at our disposal to protect Russia and our people” as Western weapons and money fuel Ukraine’s increasingly successful defense. Leaders and experts He saw a nuclear threat In the words of Putin. Indeed, Dmitry Medvedev, the former Russian president and a key figure in Putin’s government, followed by saying that his country would use any weapons to defend itself, including strategic nuclear weapons. “Coming from the one who has the sole decision-making power regarding Russian nuclear weapons, this should be taken seriously,” Andrey Baklitsky, a senior researcher at the United Nations Institute for Disarmament Research, said, referring to Putin.

4. Straight from the Big Apple, it’s… Apple

Teammate Aaron Judge No. 99 Giancarlo Stanton greets No. 27 of the New York Yankees after he scored two first-half goals during the game between the New York Yankees and the Washington Nationals at Nationals Park on Thursday, July 23, 2020 in Washington, DC.

Alex Trautweg | Major League Baseball | Getty Images

appleHis latest big step in sports probably involves the hottest rivalry in professional sports and the bazaar’s pursuit of glory. Apple TV + has exclusive rights To Friday night’s game between the Boston Red Sox and the New York Yankees in the Bronx. While the Yankees are one of the best teams in baseball and have a losing track record, the mutual hatred between the two teams makes every game worth watching. New York player Aaron Judge could also score his 61st home run this season, which would tie him to the late Yankee Roger Maris’ record in the MLS. (Also, a non-steroidal home run record for all baseball games, if you’re an old-fashioned fundamentalist.) Such an event would be a fortune for Apple. Top-notch tool maker, like fellow technology giant AmazonPlay a big game of sports dominance against Disney and its ESPN brand, as well as legacy broadcast networks. (By the way, Apple will sponsor the Super Bowl halftime show, Starting from February.)

5. Will Bed Bath & Beyond work?

A person walks out of a Bed Bath & Beyond store in New York City, June 29, 2022.

Andrew Kelly | Reuters

bed bath behind It is pressing ahead with a drastic turnaround plan as stock price and sales plummet, but it will be difficult for the retailer to get out of the mess it has been in. But Bath is mired in debt and has shady relationships with companies that provide the types or products the household goods chain will need to sell if it is to avoid bankruptcy. The company says its new plan, which relies on a new loan and national brands, has been well received. But the former executives, who recently left the company, told CNBC that the company has alienated suppliers by making late payments and prioritizing its brands. Read about things at risk at Bed Bath & Beyond over here.

CNBC’s Alex Harring, Sam Meredith, Jack Stebbins, Kif Leswing, Melissa Repko and Lillian Rizzo contributed to this report.

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