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5 things to know before the stock market opens on Thursday, September 1

Cleveland Federal Reserve President and CEO Loretta Mester delivers her keynote address at the 2014 Financial Stability Conference in Washington December 5, 2014.

Gary Cameron | Reuters

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

1. Stock can’t shake it

Plenty for a fresh start in September. The US stock market is prepare for another sell-off Thursday morning after ending August with a falling streak. Things look promising for stocks this summer after a bad first half of the year. Inflation has eased, but only slightly — and that leaves the Federal Reserve poised to raise interest rates even more. Currently, the Fed’s benchmark interest rate is between 2.25% and 2.5%, but Fed President Cleveland Loretta Mester said on Wednesday she saw a significantly higher rate of increase to more than 4%. She also doesn’t expect the central bank to cut rates next year. The Fed is expected to raise rates by three-quarters of a point later this month.

2. Nvidia slipped after the US crackdown

A sign hangs in front of Nvidia’s headquarters on May 10, 2018 in Santa Clara, California.

Justin Sullivan | beautiful pictures

Shares of Nvidia fall into overtime trading after the chip maker said the US government was restricting sales to China over concerns the Chinese military would use its products. Nvidia said it expects to lose about $400 million in revenue from China in the current quarter. In recent years, the United States has sought to crack down on China’s exploitation of US-made technology. Last month, President Joe Biden signed a bipartisan bill aimed at boosting the US chip manufacturing sector in an effort to strengthen the country’s competitive power in its economic struggle with China.

3. Inflation of the warehouse club

A customer stocks bottled water at Sam’s Club during a heatwave on July 21, 2022 in Houston, Texas.

Brandon Bells | beautiful pictures

Even Sam’s Club, WalmartWarehouse’s chain is not immune to inflation. The company said Wednesday that it has increase its entry level membership fee for Sam’s Club for the first time in nine years. Starting October 17, members will pay $50 a year, up from $45. Depot stores have been doing well late in the year, as inflation-weary shoppers buy in bulk to Save on essential items. Walmart’s decision could put pressure on Sam’s Club rival Costco, which charges $60 a year for a basic membership. In July, Costco CEO Craig Jelinek told CNBC he didn’t think it was the “right time” to raise the club’s fees — or the rates it charges. its famous cheap sausage.

4. FDA approves omicron variant booster

The UK has become the first country in the world to approve a Covid-19 vaccine, but Moderna’s price tag targets both the original virus strain and the newer Omicron variant.

Long picture press | Universal Image Group | beautiful pictures

FDA has approve a new round of Covid-enhanced images targeting the highly contagious omicron BA.5 subvariant. The decision comes as kids go back to school and many companies push their employees back to the office in earnest. Experts predict Covid cases will increase this fall and winter, despite a drop in mortality. Officials have also said that the new booster – Pfizerauthorized for persons 12 years of age or older; Modernafor people 18 years of age and older – will provide longer-term protection while keeping hospitalization rates down.

5. Attacks threaten Ukraine’s nuclear plant inspection

Ukrainian President Volodymyr Zelenskyy shakes hands with the Director General of the International Atomic Energy Agency (IAEA) Rafael Mariano Grossi, who will head a scheduled mission to the Zaporizhzhia nuclear plant, in light of the Russian attack into Ukraine continues to take place in Kyiv, Ukraine on August 30, 2022.

Press Service of the President of Ukraine | via Reuters

UN inspector delay their examination of Ukraine’s Zaporizhzhia nuclear power plant amid nearby fighting between Russian and Ukrainian forces. Ukraine’s state nuclear power company said the plant’s fifth reactor was also shut down due to shelling nearby. The facility is occupied by Russians, and Ukrainian officials have accused them of trying to spoil the inspectors’ visit. Ukrainian President Volodomyr Zelenskyy, who hosted the UN team on Wednesday, warned that the plant was vulnerable to a nuclear disaster as his forces sought to fight back against the invading forces of Ukraine. Russian President Vladimir Putin. (Update: Inspectors have arrived at the factory.)

– Sarah Min, Kif Leswing, Melissa Repko, Spencer Kimball and Holly Ellyatt of CNBC contributed to this report.

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