This week ahead || 5 Sept - 9 Sept 2022
NEWS
New iPhones, more Fedspeak: What to know ahead of a shortened week
The stock market is poised for more turbulence this week when investors return to Wall Street on Tuesday for a holiday-shortened trading week.
U.S. markets will be closed on Monday in observance of Labor Day.
All three major averages slid late in Friday’s session to cap a third-straight week of losses after data from the Labor Department showed nonfarm payrolls grew by 315,000last month while the unemployment rate rose to 3.7%.
Read about it here.
No Escape From Biggest Bond Loss in Decades as Fed Keeps Hiking
The US employment report on Friday illustrated the momentum of the economy in face of the Federal Reserve’s escalating effort to cool it down, with businesses rapidly adding jobs, pay rising and more Americans entering the workforce. While Treasury yields slipped as the figures showed a slight easing of wage pressures and an uptick in the jobless rate, the overall picture reinforced speculation the Fed is poised to keep raising interest rates -- and hold them there -- until the inflation surge recedes.
Read about it here.
Amazon Closes, Abandons Plans for Dozens of US Warehouses
MWPVL International Inc., which tracks Amazon’s real-estate footprint, estimates the company has either shuttered or killed plans to open 42 facilities totaling almost 25 million square feet of usable space. The company has delayed opening an additional 21 locations, totaling nearly 28 million square feet, according to MWPVL. The e-commerce giant also has canceled a handful of European projects, mostly in Spain, the firm said.
Read about it here.
Ukraine's Zelenskiy warns Europe to brace for winter energy crisis
Ukrainian President Volodymyr Zelenskiy has told Europeans to expect a difficult winter as the Russian assault on his country leads to cuts in oil and gas exports by Moscow, as the continent's leaders worked on Sunday to ease the impact of high energy prices.
Zelenskiy spoke on Saturday night after Moscow shut down a main pipeline that supplies Russian gas to the continent.
Read about it here.