Here are the most important news items investors need to start their trading day:
Traders work on the floor of the New York Stock Exchange during afternoon trading in New York City on Sept. 13, 2022.
Michael M. Santiago | Getty Images News | Getty Images
Wall Street headed for another week of decline US stock futures fell on FridayTraders were absorbing ugly earnings warnings from fedexreported weakening global shipments in its latest quarter Full-year guidance withdrawnEarlier in the week, US stocks had their worst day since 2020 after August Consumer Price Index Report Headline inflation increased by 0.1% on a monthly basis despite lower gas prices. This indicates an increasingly difficult path for the Federal Reserve to bring down inflation. The trader gets consumer sentiment data at 10 a.m. Friday, but the three leading averages were on pace to score his fourth losing week in five weeks.
A Federal Express truck on a highway in San Diego, California.
Mike Blake | Reuters
FedEx shares plunged late Thursday after the company said it was aggressively cutting costs after weakening global shipments. Downgraded results for the most recent quarter. FedEx said it expected demand to increase as factories in China reopened. COVID pandemic limit. Instead, it says global demand has declined. CEO Raj Subramaniam said in his interview: CNBC’s Jim Cramer on “Mad Money”“The decline in trading volume has been widespread, with the company declining almost every week since Investor Day in June,” he said, indicating a poor economic climate. value economy,” Subramaniam said.
Since both cryptocurrencies bottomed out in June 2022, Ether has significantly outperformed Bitcoin. Excellent returns on Ethereum have come as investors expect a major upgrade to Ethereum-his blockchain called “Merge.”
Yuriko Nakao | Getty Images
The White House unveiled the long-awaited framework What Should U.S. Cryptocurrency Regulations Look Like?Instructions from Washington include how the financial services industry should evolve to facilitate cross-border transactions and how to crack down on fraud in the digital asset sector. The framework is Presidential decree issued in Marchamong which the president Joe Biden It called on federal agencies to study the risks and benefits of cryptocurrencies and issue an official report on the findings. One of his sections of the White House’s new framework for cryptocurrency regulation focuses on eliminating illegal activity in the industry.
Pedestrians walk by a Bed Bath and Beyond store in San Francisco, California.
Justin Sullivan | Getty Images
Kanye West arrives at the Vanity Fair Oscar Party in Beverly Hills, CA on February 9, 2020.
Evan Agostini | Invision | AP
Kanye West, who goes by the name Ye, is ending his contract with his company, Yeezy. gap The partnership made headlines when it was announced in 2020, with the Yeezy Gap line’s first product, a bright blue puffer jacket, selling out within hours of its launch a year later.but then in a letter sent by his lawyer Yeezy told Gap on Thursday that the retailer failed to meet its contractual obligations, including opening a Yeezy Gap-only store. In a memo to employees later in the day, Gap CEO Mark Breitbard said the two companies shared his Yeezy Gap vision and how they are working to bring that vision to life. Iruka said, “It doesn’t match.” In an interview with CNBCclosing bell,The rapper and designer put it another way, “A king cannot live in someone else’s castle.”
— CNBC’s Sarah Min, Jack Stebbins, MacKenzie Sigalos, Melissa Repko, and Gabriel Cortes contributed to this report.