5 things to know before the stock market opens on Wednesday, September 7th

Traders work on the floor of the New York Stock Exchange (NYSE), September 6, 2022.

Brendan McDermid | Reuters

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

1. Looking for direction

Stocks are pulling back, and it’s hard to see how the markets shake that out anytime soon since September is usually a tough month for stocks, anyway. The three major indicators fell on Tuesday, and they She looked shaky on Wednesday morning, like that. Nasdaq goes through its first seven-day losing streak since 2016, while Treasury yields are slipping A particularly hot day. The Federal Reserve is preparing to raise its benchmark interest rate again this month, and investors will look to the central bank’s Beige Book at 2:30 p.m. ET for more economic clues on how the Fed is fighting inflation. Fed Vice Chairman Lyle Brainard is also scheduled to speak on Wednesday.

2. It’s time for the new iPhones

Apple invite to September event.

apple

If it’s September, that means that too apple About to launch new iPhones and other essential products. In fact, the company is expected to unveil four new models of its iPhone, with a slew of upgrades. Apple watchers and customers alike will be keenly interested in pricing for new products, particularly in a high inflation environment. However, companies that offer premium-priced goods and services to high-income customers have been able to raise prices recently without much resistance. For more on what to expect from Apple on Wednesday, check out CNBC reporter Kif Leswing preview.

3. Google chief hints at cuts

The Google logo appears at the gathering of high-profile startups and high-tech leaders, Viva Tech, in Paris, France on May 16, 2019.

Charles Plateau | Reuters

the alphabet And Google CEO Sundar Pichai is unhappy with what he sees in his tech giant. Tell CEO Kara Swisher at Tuesday code conference He wants to make the company more efficient, while hinting at potential job cuts in an uncertain economic environment exacerbated by a slowdown in advertising spending. “In everything we do, we can be slower to make decisions,” he said. “You look at it from start to finish and find out how to make the company 20% more productive.”

4. Energy Warning, Extreme Heat in California

California heat wave leaves thousands without power

On Tuesday, California set a new record for peak energy demand People sought to keep cool during a severe heat wave. However, while the state’s network operator warned residents of a possible blackout on Tuesday evening, nothing happened. Since the end of August, Californians have received the so-called Flexible alerts To reduce energy use by setting thermostat temperatures into the 70s and avoid using major appliances, such as dryers, at night. The state, which has been plagued by drought and wildfires, is expected to experience sweltering heat through Thursday.

5. The CEO of Target will remain in place

Brian Cornell, CEO of Target

Scott Millian | CNBC

targeting Wed said it was Repeal the policy that usually invites CEOs to retire at 65. That will enable CEO Brian Cornell, 63, to remain in office for another three years. The decision to keep Cornell in this role removes some of the uncertainty from the big retailer’s immediate future, as it works through piles of junk products that have eroded profits and gear up for the holiday shopping season. Declare the goal also that its Chief Executive Officer of Supply Chain, Arthur Valdez, is retiring and that he will be immediately replaced by Executive Director of Inventory Management Gretchen McCarthy.

– CNBC’s Tanaya Machel, Kev Lesswing, Jennifer Elias and Melissa Rybko contributed to this report.

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