By Geoffrey Smith
Investing.com — The United States releases the last major economic data dump ahead of next week’s crucial Fed meeting, with retail sales, jobless claims and Philadelphia Fed business survey pending . Unions and rail operators reach a tentative agreement to avoid a national rail strike. California sues Amazon (NASDAQ:) for anticompetitive behavior toward third-party sellers and wholesalers. Adobe (NASDAQ:) reports earnings. The network completes its long-awaited ‘Merger’, and Xi Jinping meets with Vladimir Putin for the first time since the Russian invasion of Ukraine. Here’s what you need to know in the financial markets on Thursday, September 15.
1. Prefed data dump
The United States is to release August numbers, the last major piece in an economic data puzzle that the Federal Reserve will have to consider when it meets next week to set interest rates.
Analysts expect the headline figure to have risen 0.2%, which would represent a modest rise in real terms, given the modest 0.1% rise in headlines over the month. they are expected to have risen 0.1%.
Elsewhere, the Fed and Federal Reserve Banks release their monthly manufacturing surveys, while weekly manufacturing is expected to rebound to historically low levels thanks to still-high availability of new jobs for laid-offs. August issues will also be published at 09:15 ET (13:15 GMT).
2. Was the US rail strike prevented?
Unions and rail operators have reached a ‘avoidance’ that averts the threat of a rail strike in the United States, according to the Department of Labor.
The deal, if approved by union members, averts a strike that would have severely impacted national supply chains that have yet to fully recover from the effects of the pandemic.
Pacific Union (NYSE:) shares and CSX (NASDAQ:) shares rose more than 3% before trading on the news, while south norfolk (NYSE:) shares rose 1.7%. Refineries, automakers, coal companies and retailers will likely breathe a sigh of relief as well.
3. Stocks Set to Open Higher; Amazon, Adobe in the spotlight
US stock markets are expected to open a little later, supported by news from the rail trades.
At 06:20 ET (10:20 GMT), they were up 44 points, or 0.1%, while they were up 0.2% and up 0.1%. All three benchmark spot indices had risen as much as 0.7% on Wednesday on the back of a late rally that, in hindsight, appears to have led the news in rail trading.
Stocks likely to be in the spotlight later include Amazon, which was indicted on Wednesday by the state of California for alleged anti-competitive practices in its dealings with third-party sellers and wholesalers. Also in the news is energy group Shell (LON:), which has named the head of its integrated gas business as its new CEO. He will replace Ben van Beurden at the end of the year.
reports earnings after the closing bell.
4. The Ethereum network completes “The Merge”
The Ethereum network has completed its long-awaited, much-hyped, and long-delayed transition to a new “proof of stake” system for validating transactions.
The so-called ‘Combination’ aims to greatly reduce the power consumption of the network and thus make it easier for the large number of applications running on it to achieve scale.
While that should be supportive in the long term for ether, the digital currency used on the network, the short-term price action suggests the move was more than discounted in advance and not a bigger market driver than the most large. risk appetite issues at the moment. Ether fell 0.9% to $1,590, having lost more than half its value this year.
5. Xi-Putin meeting
Chinese President Xi Jinping will meet his Russian counterpart Vladimir Putin in Samarcan, Uzbekistan on the sidelines of a regional security conference.
The two are likely to discuss the fallout from Russia’s war in Ukraine, which Putin launched just days after the two declared a “limitless partnership” in February this year. The meeting comes at an awkward time for Putin, whose army is rapidly regrouping after suffering an embarrassing defeat in eastern Ukraine last week.
China has been a crucial support for the Russian economy ever since, dramatically increasing its purchases of Russian oil and refined products. Yet while the two have a common interest in resisting what they see as US ambitions for hegemony, they have refrained from providing public aid in the form of military hardware.