Here are the most important news, trends and analysis that investors need to start their trading day:
The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, May 4, 2021.
Brendan McDermid | Reuters
U.S. stock futures fell Friday, marking a key date, Sept. 17, that’s historically ushered in a rough patch for the market in an already traditionally tough month. The Dow Jones Industrial Average declined Thursday, though it ended way off session lows. The S&P 500 dipped as well, while the Nasdaq bucked the trend and rose slightly. Despite the September angst, all three stock benchmarks were tracking for weekly gains. Ahead of Friday’s open, the Dow, S&P 500 and Nasdaq weren’t too far from their recent record closes — about 2.5%, 1.4%, and 1.3% away respectively.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, on Monday, Aug. 23, 2021.
Michael Nagle | Bloomberg | Getty Images
Coinciding with seasonal factors stacked against Wall Street, it’s also “quadruple witching” Friday, the simultaneous expiration of stock options, index options, stock futures and index futures. Next week, the Federal Reserve holds its two-day September policy meeting, leaving investors already on edge this month to read the tea leaves on when central bankers might start tapering their massive Covid-era bond buying. So far in September, as of Thursday’s close, the Dow was down 1.7%; the S&P 500 was down 1.1%; the Nasdaq was down 0.5%. However, all three were still way up for the year.
Jerome Powell, chairman of the U.S. Federal Reserve, arrives for a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 15, 2021.
Al Drago | Bloomberg | Getty Images
Fed Chairman Jerome Powell has called for a review of the central bank’s ethics rules for appropriate financial activities after disclosures revealed that several senior Fed officials held significant investments and others made multimillion-dollar stock trades in 2020. Last year was when monetary policymakers were implementing extraordinary measures to support the crumbling economy during the pandemic. New of the Powell inquiry followed Sen. Elizabeth Warren, D-Mass., sending 12 letters to the Fed’s regional bank presidents demanding stricter ethics.
Nurse Samantha Reidy gives Alan Kramer, 74, a cancer patient, his Pfizer-BioNTech Covid-19 booster shot at Hartford Hospital in Hartford, Connecticut on August 24, 2021.
Joseph Prezioso | AFP | Getty Images
A key part of President Joe Biden‘s plan to combat Covid could be in jeopardy as a FDA vaccine advisory committee meets Friday to debate and vote on Pfizer‘s application to offer vaccine booster shots to the general public. The gathering comes as some scientists, including at least two at the FDA, said they aren’t entirely convinced every American who has received the two-dose Pfizer vaccine needs a third at this time. Friday’s vote could halt the Biden administration’s already announced plan to start distributing boosters next week.
US President Joe Biden delivers remarks and participates in the virtual Leaders Summit on Climate Session 5: The Economic Opportunities of Climate Action from the White House in Washington, DC, on April 23, 2021.
Jim Watson | AFP | Getty Images
Biden convenes world leaders Friday for a discussion about efforts to tackle climate change, seeking to build momentum ahead of an international summit on global warming later this year. Biden has been emphasizing climate change, a top domestic and global priority, repeatedly in recent weeks following devastating floods and wildfires across the U.S. Biden is hoping to rally big emitters to help make an upcoming U.N. climate conference, set for Oct. 31-Nov. 12 in Glasgow, Scotland, a success.