Breaking News
Get 40% Off 0
😲 Missed the +20.8% surge in our stock strategy last month? Not again! Get premium insights Get 40% Off Now

Rail Deal, Retail Sales, Xi Meets Putin - What's Moving Markets

Published Sep 15, 2022 06:38AM ET Updated Sep 15, 2022 06:46AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
ADBE
-3.95%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AMZN
-1.05%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
RDSa
-0.11%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CSX
+0.29%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UNP
+0.69%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NSC
+0.38%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Geoffrey Smith 

Investing.com -- The U.S. publishes the last big economic data dump before next week's crucial Federal Reserve meeting, with retail sales, jobless claims and the Philadelphia Fed business survey all due. Labor unions and railroad operators reach a tentative agreement to avert a national rail strike. California sues Amazon (NASDAQ:AMZN) for anti-competitive behavior toward third-party sellers and wholesalers. Adobe (NASDAQ:ADBE) reports earnings. The Ethereum network completes its long-awaited 'Merge'  - and Xi Jinping meets Vladimir Putin for the first time since Russia's invasion of Ukraine. Here's what you need to know in financial markets on Thursday, 15th September.

1. Pre-Fed data dump

The U.S. will publish retail sales numbers for August, the last major piece in a puzzle of economic data that the Federal Reserve will have to consider when it meets next week to set interest rates.

Analysts expect the headline number to have risen 0.2% which would represent a modest increase in real terms, given the modest 0.1% increase in headline consumer prices during the month. Core retail sales are expected to have risen 0.1%.

Elsewhere, the Philadelphia and New York Federal Reserve Banks both publish their monthly manufacturing surveys, while weekly jobless claims are expected to have bounced along at historically low levels thanks to the still-high availability of new jobs to those being laid off. Industrial production numbers for August are also due at 09:15 ET (13:15 GMT).

2. U.S. rail strike averted?

Unions and railroad operators have reached a ‘tentative agreement’ that averts the threat of a U.S. rail strike, according to the Department of Labor.

The agreement, if approved by union members, prevents strike action that would have had a severe impact on domestic supply chains which have still not entirely recovered from the effects of the pandemic.

Union Pacific (NYSE:UNP) stock and CSX (NASDAQ:CSX) stock both rose over 3% in premarket on the news, while Norfolk Southern (NYSE:NSC) stock rose 1.7%. Refiners, auto manufacturers, coal companies and retailers will also likely breathe a sigh of relief.

3. Stocks set to open higher; Amazon, Adobe in focus

U.S. stock markets are expected to open slightly higher later, supported by the news from the rail negotiations.

By 06:20 ET (10:20 GMT), Dow Jones futures were up 44 points, or 0.1%, while S&P 500 futures were up 0.2% and Nasdaq 100 futures were up 0.1%. The three benchmark cash indices had risen by as much as 0.7% on Wednesday thanks to a late rally that, in hindsight, appears to have front-run the news from the rail negotiations.

Stocks likely to be in focus later include Amazon, which was sued late on Wednesday by the state of California for alleged anti-competitive practices in its dealings with third-party sellers and wholesalers. Also in the news is energy group Shell (LON:RDSa), which has named Wael Sawan, the head of its integrated gas business, as its new CEO. He’ll take over from Ben van Beurden at the end of the year.

Adobe reports earnings after the closing bell.

4. Ethereum network completes "The Merge"

The Ethereum network completed its long-awaited, much-hyped and much-delayed transition to a new ‘proof of stake’ system for validating transactions.

The so-called ‘Merge’ is intended to vastly reduce the network’s energy consumption and thus make it easier for the host of applications running on it to achieve scale. 

While that should be supportive in the long term for ether, the digital currency used on the network, the short-term price action in ether suggests both that the move was more than fully discounted in advance, and was not a bigger market driver than the broader issues concerning risk appetite right now. Ether fell 0.9% to $1,590, having lost more than half of its value this year.

5. Xi-Putin meeting

Chinese President Xi Jinping will meet his Russian counterpart Vladimir Putin in Samarkan, Uzbekistan, on the sidelines of a regional security conference.

The two are likely to discuss the consequences of Russia’s war in Ukraine, which Putin launched only days after the two declared a ‘partnership with no limits’ in February this year. The meeting comes at an awkward time for Putin, whose army is hurriedly regrouping after suffering an embarrassing defeat in eastern Ukraine last week.

China has been a crucial support to the Russian economy since then, dramatically increasing its purchases of Russian oil and refined products. However, while the two have a common interest in resisting what they see as U.S. ambitions for hegemony, it has held off from publicly supplying aid in the form of military materiel.

Rail Deal, Retail Sales, Xi Meets Putin - What's Moving Markets
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (9)
Brad Albright
Brad Albright Sep 15, 2022 10:58AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
In a free country, workers are not forced to stay on the job. That's something for fascists.
EL LA
EL LA Sep 15, 2022 9:59AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Rail strike would never happen. Such drama queens.
neang aee 냥에
neang aee 냥에 Sep 15, 2022 9:23AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hey you ! When you will start LOSS CUT on your accounts?
Marco cuevas
Marco cuevas Sep 15, 2022 9:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Fake financial journalism trhing to play with yoir emotions...dont BUY markets dropping today and tomm.
Buy And Sell
Buy And Sell Sep 15, 2022 8:11AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Today FED is selling from balance sheet. This will increase interest rate. Crash is near now, sell everything or go broke!!!
gab nea
gab nea Sep 15, 2022 7:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
putin is losing his pants and respect! lmao! xi ping and putin will wallow in their losing communist regimes.
Roberto Simone
Roberto Simone Sep 15, 2022 7:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
No he is not. I want peace, everywhere and always.  But Russia will win at the end.
gab nea
gab nea Sep 15, 2022 7:44AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Reagan gave the rich tons of money , like trump , he said the benefits would trickle down to the middle class. never happened, like trump he lied to us ! vote Republicans out!
Stephen Fa
Stephen Fa Sep 15, 2022 7:44AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You're just wrong about Reagan when you look at the economic data objectively. Vote as you please.
Matt Boswell
Matt Boswell Sep 15, 2022 7:44AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stephen Fa Objectively looking at your comment, youre objectively wrong and thr data shows that too.
Ron Humpal
Sasquatch Sep 15, 2022 7:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Xi Jinping and Putin will be discussing how they can ********the US, because of our weak foreign policy.
Ken Roth
Ken Roth Sep 15, 2022 7:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Now that we have established that putin has made russia 100% dependable on Chinas goodwill and money putin is now chinas bi..tch wonder what discounts or land XI will ask for, he has the whole top shelves to pick from and Putin will not be able to say no…go fetch!!!
Sue
Sue Sep 15, 2022 7:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
they will steal even more us technology mainly though California. California is full of Chinese spies. thanks pelosi
Ken Roth
Ken Roth Sep 15, 2022 7:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sue you think a visit to taiwan means more chinese spies in california…dont delude youself they are already there and have been for many years. Chinese are good at copying other countries technology
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email