5 things to know before the stock market opens on Thursday, September 15


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

White House says tentative rail work deal reached

1. Railroad strike averted

With the deadline for a deal fast approaching, President Joe Biden announced a tentative labor agreement early Thursday to prevent a national rail strike. A strike would have caused a major disruption to the flow of key goods and raw materials in the US, shutting down more than 7,000 trains and costing up to an estimated $2 billion per day. Negotiations between the railways and labor unions had stalled unpaid sick time. The deal announced Thursday would improve wages and working conditions for rail workers and give them “peace of mind about their health care costs.” Biden he said in a statement. The parties had a deadline of 12:01 am Friday to reach an agreement and avoid a strike.

2. New data on deck

Trader Ryan Falvey works on the floor of the New York Stock Exchange.

Richard Drew | access point

stock futures were relatively flat Thursday morning as investors awaited a fresh batch of economic data, including retail sales, import prices and jobless claims. Earlier in the week, US stocks had their worst day since 2020 after August. consumer price index report showed that headline inflation rose 0.1% monthly, despite a drop in gas prices. Then on Wednesday the producer price index report showed a decline in wholesale prices of 0.1% in August. Jeff deGraaf, founder and president of Renaissance Macro Research, said that put him at ease a bit. “Inflation is really a dark cloud over stocks, but I think it’s very important for people to keep in mind that it’s not about the good and the bad in the markets, it’s about the best and the worst, and it seems that the inflation is improving,” he said. he said on CNBC “Closing Bell: Overtime.”

3. Boost for electric vehicles

One of the biggest barriers to the widespread adoption of electric vehicles has been the lack of a national network of charging stations. On Wednesday, Biden announced the launch of the first round of funding for such a network which will finance the construction of stations in 35 states. Biden has been a strong advocate for electric vehicles, signing legal incentives to encourage consumers to buy them and businesses to build them. “You will all be part of a network of 500,000 charging stations, 500,000, across the country, installed by IBEW,” Biden said at the Detroit Auto Show., referring to the International Brotherhood of Electrical Workers union.

4. A new muscle car

Ford Mustang 2024

Source: Ford

Ford unveiled a seventh generation mustang on Wednesday, a version of the iconic muscle car that comes with two gasoline engines. The Detroit automaker says redesigning the iconic car without any electrification is part of its “Mustang family” strategy that includes the all-electric. Mustang Mach-E Crossover. According to a report in Automotive News, a planned hybrid version has been scrapped, which could make the latest Mustang the last gas-powered muscle car from the Detroit automakers. The Dodge Challenger and Chevrolet Camaro, the Mustang car’s biggest rivals, are expected to go electric in the next few years.

5. The billions of Patagonia

Yvon Chouinard, founder and owner of Patagonia.

Courtesy of Jeff Johnson and Patagonia

Patagonia founder Yvon Chouinard says he is “reimagine capitalism”, and that he and his family are giving away their ownership in the clothing manufacturer he started some 50 years ago. All company profits will go to projects and organizations that will protect wilderness and biodiversity and fight the climate crisis. The company is worth about $3 billion, according to The New York Times. Shares of the private company will now be owned by a climate-focused trust and a group of nonprofits, called Patagonia Purpose Trust and Holdfast Collective, respectively. The company expects to contribute about $100 million a year, depending on the health of the business.

— CNBC’s Tanaya Macheel, Emma Kinery, Leslie Josephs, Michael Wayland and Lora Kolodny contributed to this report.

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