5 things to know before the opening of the Stock Exchange Monday, September 12

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, United States, September 9, 2022.

Brendan Mcdermid | Reuters

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

1. Futures contracts look solid

American scholarships were set to open higher on Monday morning as investors sought momentum from last week’s gains. All three major indexes had been mired in a three-week losing streak as markets grappled with the reality of another big rate hike coming from the Federal Reserve. The central bank’s steering committee is expected to raise its key rate by three-quarters of a point next week, even as inflation showed signs of slowing somewhat. Investors will get the latest inflation news on Tuesday, when the government is expected to release August’s consumer price index.

2. Ukraine strikes back

Members of the State Security Service of Ukraine pose for a photo in the recently liberated town of Kupiansk, in the Kharkiv region of Ukraine, in this photo released on September 10, 2022.

Press Service of the State Security Service of Ukraine | via Reuters

3. Chapek casts a spell on D23

Disney Chief Executive Bob Chapek speaks during the 2022 Disney Legends Awards at Disney’s D23 Expo in Anaheim, California on September 9, 2022.

Mario Anzuoni | Reuters

disney CEO Bob Chapek made a charm offensive more the weekend at Expo D23, sending positive messages to fans, employees and investors. That seemed to work too, at least for a great activist investor. Third Point CEO Dan Loeb had pushed the entertainment and media giant to drop its ESPN operations, but he backtracked on that with a tweet on Sunday morning. “We have a better understanding of the potential for @espn as a standalone business and another vertical for $DIS to reach a global audience to generate ad and subscription revenue,” he said. Chapek told Variety that Disney had “a vision” for ESPN’s place in the company’s plan for the next 100 years. “We did not share this plan,” he added.

4. JPMorgan buys another fintech

JP Morgan CEO Jamie Dimon speaks during the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S. November 23, 2021.

Brian Snyder | Reuters

In an effort to counter the rapid growth of Stripe and Block, JPMorgan Chase agreed to buy fintech payments startup Renovite, CNBC’s Hugh Son reports. Chase is already the world’s leading merchant services provider. It processes approximately $9 trillion in transactions every day. But the leaders of the old bank, especially the CEO Jamie Dimon, have sounded the alarm over upstart competitors. Since the end of 2020, when the covid pandemic was raging, JPMorgan acquired at least five fintech startups in a tech spending spree that drew some criticism. The Renovite deal allows the bank to expand into global markets faster because it doesn’t require as much coding, Mike Blandina, global head of payments technology at JPMorgan, told CNBC.

5. New chip restrictions

US President Joe Biden attends the grand opening of Intel’s new semiconductor manufacturing facility in New Albany, Ohio on September 9, 2022.

Joshua Roberts | Reuters

The Biden administration is expected to unveil a new round of restrictions on US semiconductor shipments to China next month, Reuters reported, citing several people familiar with the matter. The limits will focus on chips used for artificial intelligence, as well as semiconductor manufacturing tools. KLA, Search Lam and Applied materials were informed of the upcoming changes in letters earlier this year, and the companies acknowledged receipt of the communication. Reuters also reported that some of its sources for the article said the administration may also unveil additional actions against China, as the president Joe Biden pushes to make the United States more competitive with its rival.

– CNBC’s Carmen Reinicke, Holly Ellyatt, Jeff Cox and Hugh Son contributed to this report.

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