5 things to know before the stock market opens Thursday
Here are the most important news, trends and analysis that investors need to start their trading day:
1. Dow set to jump after snapping four-day losing streak
Traders work on the floor of the New York Stock Exchange (NYSE), September 21, 2021.
Brendan McDermid | Reuters
2. China prepares for possible Evergrande demise, says WSJ
Apartment buildings at China Evergrande Group’s Life in Venice real estate and tourism development in Qidong, Jiangsu province, China, on Tuesday, Sept. 21, 2021.
Qilai Shen | Bloomberg | Getty Images
Chinese authorities have told local officials to prepare for a potential collapse of heavily indebted Evergrande, The Wall Street Journal reported Thursday. Local officials described the signals from Chinese authorities as “getting ready for the possible storm” and said the government told them they should step in only at the last minute to prevent spillover effects from Evergrande’s demise, according to the Journal. The large developer made a payment on a local bond Wednesday. However, it’s unclear if the company will pay interest due Thursday on its offshore bonds.
3. Initial jobless claims rise instead of decline as expected
A career fair in Louisville, Kentucky, on June 23, 2021.
Luke Sharrett/Bloomberg via Getty Images
The U.S. government’s weekly look at initial jobless claims unexpectedly rose to 351,000. Economists had expected a decline in new claims for week ended Sept. 18 to 320,000 — near Covid pandemic lows. The prior week was revised higher to 335,000.
After its two-day September meeting, the Fed on Wednesday provided its quarterly economic projections. Officials see the nation’s unemployment rate falling to 4.8% this year from the current 5.2%. The June estimate was for a year-end rate of 4.5%.
4. Fed decreased its forecast for economic growth, increased its outlook for inflation
The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020.
Erin Scott | Bloomberg via Getty Images
5. CDC to vote on Pfizer Covid boosters for older, vulnerable Americans
A nurse reaches for a vial of Pfizer-BioNTech Covid-19 vaccine at a pop up vaccine clinic in the Arleta neighborhood of Los Angeles, California, August 23, 2021.
Robyn Beck | AFP | Getty Images
— CNBC’s Jesse Pound contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.
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