Jerome Powell in Jackson Hole, Wisconsin
Jonathan Crosby | Reuters
Here are the most important news that investors need to start their trading day:
The Federal Reserve’s policy-setting committee is set to begin its two-day meeting on Tuesday, as the market waits to see if the central bank raises its benchmark rate by three-quarters of a point or a full point. The announcement is set for Wednesday. Stocks have generally been in a selling mode since August inflation data came in higher than expected, adding to further uncertainty about how long the Federal Reserve will continue to raise interest rates to fight price increases. US stock markets, coming from positive Monday, is set to open Tuesday morning low.
Ford F-150 Lightning at the 2022 New York Auto Show.
Scott Millian | CNBC
Companies are still grappling with supply chain issues, especially as costs continue to rise. Ford Motor She said after the bell on Monday that she expects supplier costs to increase to 1 billion dollars more than expected in the third quarter. The company said supply problems have led to a shortage of spare parts affecting approximately 40,000 to 45,000 vehicles, mainly trucks and SUVs. These vehicles usually carry higher profit margins. Ford said it will have more details when it reports earnings on Oct. 26. The company’s stock fell about 5% in out-of-hours trading.
Ukrainian soldiers ride an armored vehicle in Novostipanivka, Kharkiv region, on September 19, 2022.
Yasuyoshi Chiba | Afp | Getty Images
As Ukrainian forces press their counterattack and retake occupied territories, Russian-allied separatist leaders in eastern Ukraine are pressing for a quick vote to secession and reunification with Russia. The head of the Donetsk region called on his fellow separatist leader in Luhansk on Monday to work together for a referendum. Analysts say such a vote would be “incoherent” due to Ukraine’s reclamation of parts of these areas. Elsewhere, the UK has said it will meet or exceed the amount of Ukrainian aid it spends this year next year. At the United Nations General Assembly this week, Prime Minister Liz Truss is expected to call on countries to stop relying on Russia for energy. Read live updates on the war over here.
A Republic Airlines plane approaches the runway at Ronald Reagan Washington National Airport (DCA) in Arlington, Virginia, on April 2, 2022.
Daniel Selim | AFP | Getty Images
The FAA denied Order from Republic Airways To cut half the number of hours required to become a pilot. Regulations require a minimum of 1,500 hours of flying time for commercial pilots, with exceptions for certain types of military experience. Republic, which runs short paths for United, Delta and American, has sought to lower the requirements to 750 hours upon completion of the carrier’s training program. Airlines have blamed a shortage of pilots for the cuts, particularly in smaller towns. The FAA said its decision was rooted in the “greater public interest of ensuring and maintaining the level of safety” that current rules provide. Republic, for its part, said the FAA had not provided “the review of its proposal and the engagement it deserves.”
Viola Davis stars in Sony’s “The Woman King.”
The Woman King had the ingredients for success: a stellar cast headed by Academy Award winner Viola Davis and Star Wars veteran John Boyega, an edgy Oscar, and the promise of big, exhilarating scenes. However, the total opening weekend price was $19 million Easily exceed expectations From her studio, Sony, and some box office analysts. Now, the film, which has been a strong magnet for female and black audiences, has the potential to make big bucks over an uninterrupted period of time during a light film calendar, of which there are only a few popular releases left this year, including “Avatar: The Way”. of Water” and “Black Panther: Wakanda Forever”. In another bonus for business-hungry theaters, audiences were willing to pay more to see “The Woman King.” About a third of the movie’s viewers paid an average of $4.50 extra to watch it in premium formats, according to EntTelligence data.
– Jesse Pound, Michael Wayland, Holly Eliat, Leslie Joseph and CNBC’s Sarah Whitten contributed to this report.