5 things to know before the stock market opens on Friday, September 2

A trader on the NYSE floor, September 1, 2022.

Source: NYSE

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

1. Stocks and jobs

Equity Futures rose Friday morning after the monthly jobs report. U.S. stock markets are coming off a mixed Thursday, which saw the Dow Jones and S&P 500 emerge from four straight days of losses, while the Nasdaq suffered its fifth straight day of losses – its longest skid since February. Investors are looking for clues on how aggressive the Federal Reserve will be later this month, as the central bank is expected to raise rates again in its fight against inflation. The economy created 315,000 jobs last month. Economists expected an increase of 318,000, according to Dow Jones.

2. A new Starbucks CEO, finally

Laxman Narasimhan

Source: Business Wire

Starbucks chose its next CEO: Laxman Narasimhan, who just stepped down as CEO of Reckitt, which owns Lysol cleaning brands, Durex condoms and more. Yet Howard Schultz, who has served as the coffee chain’s interim CEO since April, isn’t going anywhere anytime soon. Narasimhan will join Starbucks in October, but will not lead the company until April. Schultz will also remain on the company’s board and continue to serve as an advisor after Narasimhan, also a PepsiCo veteran, assumes the role. More details are on the way at Starbucks Investor Day, which is scheduled for September 13 in Seattle.

3. The Amazon syndicate wins another victory

Chris Smalls and Derrick Palmer at the temporary headquarters of the Amazon Labor Union in Staten Island, New York on June 15, 2022.

Katie Schoolov

The National Labor Relations Board said Thursday that the Amazon Labor Union’s winning effort to unionize a warehouse in Staten Island, New York should be maintained. The e-commerce giant launched its formal objection in May, the month after the union won. But the NLRB attorney handling the case said Amazon “did not fulfill its charge” in its attempt to demonstrate that the union had used reprehensible means to secure its victory. Amazon’s grassroots union, meanwhile, is seeking to expand its influence. It failed to organize another Staten Island warehouse in May, but warehouse workers in Albany, New York and Kentucky are seeking to organize with the union.

4. A UN team searches the Ukrainian nuclear power plant

Russian military vehicles escort a motorcade carrying the mission of International Atomic Energy Agency (IAEA) experts as they leave the Zaporizhzhia nuclear power plant during the Ukraine-Russia conflict outside Enerhodar in the Zaporizhzhia region, Ukraine, on September 1, 2022.

Alexander Ermoshenko | Reuters

After hours of delays due to shelling in the region on Thursday, inspectors from the United Nations International Atomic Energy Agency finally managed to get to the Zaporizhzhia nuclear power plant in Ukraine. The organization does not intend to leave, that is, as long as the Russian-occupied facility is vulnerable to disaster. “We’re not going anywhere,” IAEA chief Rafael Grossi told reporters. “The IAEA is now there, it’s at the factory and it’s not moving. It’s going to stay there. We’re going to have a continuous presence there at the factory.” Zaporizhzhia nuclear facility is the largest in Europe.

5. Meme Stock: The Movie

Seth Rogen

Charles Sykes | well done | NBCUniversal | Getty Images

Here’s a fun story for the last holiday weekend of the summer. An all-star cast — including ‘This is the End’ star and ‘The Boys’ executive producer Seth Rogen, and Pete Davidson of ‘SNL’ and Kim Kardashian fame — will handle the crazy story of the GameStop stock market phenomenon of early 2021. “Dumb Money,” which will be helmed by “I, Tonya” director Craig Gillespie, is set to start filming this month, when the rights to purchase the film also go on sale. The film will be based on Ben Mezrich’s non-fiction book “The Antisocial Network.” If that name sounds familiar, it’s because Mezrich also penned “The Accidental Billionaires,” a juicy account of the founding of Facebook. This book was adapted into the 2010 Oscar-winning classic “The Social Network.”

Disclosure: NBCUniversal is the parent company of CNBC and NBC, which airs “Saturday Night Live.”

– CNBC’s Carmen Reinicke, Amelia Lucas, Annie Palmer, Sam Meredith and Ashley Capoot contributed to this report.

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