The Wall Street Journal has recently reported that U.S. Steel would have to close various mills and move its headquarters in the case of the firm failing to make a buyout deal with Nippon Steel.
The US discount store chain Dollar Tree has cut its annual earnings expectations, as the firm has struggled to attract price-sensitive shoppers. Namely, as indicated by news earlier in the month, the less well off people are shopping at Walmart not Dollar Tree.
The major bank Goldman Sachs has announced that it expect the development of AI to decrease crude oil prices due to improved logistics that AI would manage.
The United States drug store chain Rite Aid has emerged from Chapter 11 bankruptcy. However, it has been accomplished by taking the company private in a broader financial restructuring.
More and more US firms have announced revamps of their DEI or diversity, equity and inclusion programs that were meant to boost productivity by increasing creating an ethnic variation of employees.
At 12:30 GMT, Bureau of Labor Statistics has published monthly unemployment rate. Reported Unemployment rate is at 4.2%, same as forecasted. US dollar is reacting to the downside.
Wells Fargo has downgraded Boeing's stock. Namely, the bank has indicated that the bank's income of $10 billion might be delayed by two years. Moreover, Boeing is set to spend $30 billion on the development of a new aeroplane.
Data for July has revealed that spending on construction in the United States has declined even more than expected. Spending decreased by 0.3%, compared to the forecast 0.1%.
The US Federal Reserve has released research that indicates that United States housing inflation should decline in 2025.
The German carmaker Volkswagen has announced that in an effort to cut costs, the firm could shut down factories in Germany.
In August, year-on-year sales of Tesla vehicles that have been made in China have increased by 3.00%. Meanwhile, deliveries of Model 3 and Model Y increased by 17%.
The Chinese Caixin PMI of the manufacturing sector has increased in August to 50.4 from 49.8 in July, signalling that the sector could be starting a recovery.
The ISM has published the Service PMI survey. Results were expected to show a reading of 51.3, but the actual number is slightly higher- 51.5. Dollar has a strong move to the upside, and signalling confidence in US economy.
AT 12:15 GMT, Automatic Data Processing, Inc. reported monthly changes in employment, excluding farming industry. Forecasted number was 144 thousand, actual number came in lower-at 99 thousand.
Purchasing Managers Index made by HCOB for the Euro Zone has revealed that the index continues to show a decline in the industry by showing a reading of 45.8.
Reuters has reported that the European Central Bank policymakers were at odds between a potential recession that would require rate cuts and a return of inflation that could be caused by cutting too early.
Reuters has revealed that a group of investors led by Blackstone is set to buy the data centre group named AirTrunk for a total of $13.53 billion.
The decline of German manufacturing has extended in August, as the HCOB final PMI for Germany has declined to 42.4 points in August, compared to 43.2 in July.
Reuters has reported that the CEO of Intel Pat Gelsinger is set to present a plan to get rid of assets and cut costs in an effort to increase margins.
The results of a poll done by Reuters have revealed that market analysts expect the housing market to experience a modest increase of demand, as the US Federal Reserve is set to cut interest rates.
At 13:45 GMT, Bank of Canada has decided that base interest rate will be decreased. Previous base interest rate was 4.50%, new interest rate is lower by 0.25 basis points, as forecasted- 4.25%. CAD reacting with a strong move to the upside.
The US bond market has continued to experience strong demand, as investors buy bonds with fixed rates, before the US Federal Reserve cuts interest rates.
Due to higher output from the US Freeport LNG facility, United States exports have increased in August to 7.48 million metric tons.
General Motors and Lithium Americas have announced that they would delay a major $330 million investment project. The project would invest in the Thacker Pass mines in Nevada.