Here are the top news, trends, and analysis investors need to start their trading day:
1. Dow futures flat after 30-stock average fell 292 points
The Wall Street sign can be seen in front of the New York Stock Exchange (NYSE) in New York on February 16, 2021.
Brendan McDermid | Reuters
US stock futures were flat on Wednesday, the day after the Dow Jones Industrial Average lost its gains on opening and lost 292 points, or 0.8%, its sixth decline in its seven sessions. The S&P 500 also posted its sixth decline in the previous seven sessions on Tuesday as rough September continued on Wall Street. Both benchmarks were on track for their biggest monthly declines since October. The Nasdaq fell for the fifth time in a row on Tuesday. Microsoft was a bright spot in the premarket on Wednesday. Dow stock and the big Nasdaq name rose more than 1% after announcing an 11% dividend increase and a $ 60 billion share buyback program. Microsoft has also named the company’s president, Brad Smith, as vice chairman.
2. Stock up on casino stocks as Macau considers stricter regulations
The Wynn Resorts logo is lit as people sit by the fountain at the Wynn Macau Casino Resort in Macau, China on Tuesday, July 24, 2018.
Pual Yeung | Bloomberg | Getty Images
Wynn Resorts and Las Vegas Sands slumped in pre-trading after falling about 10% on Tuesday as Macau embarked on a 45-day period of stricter regulations for the gambling industry. These US casino stocks operate in the Chinese Special Administrative Region. Macau officials said they wanted “sustainable and healthy development” in the world’s largest gambling center. However, investors are concerned about possible changes. Hong Kong-listed Wynn Macau and Sands China stocks fell about 30% overnight.
3. Democratic governor Gavin Newsom survived the recall in California
Gavin Newsom, Governor of California, speaks during a campaign rally at Long Beach City College in Long Beach, California, the United States, on Monday, September 13, 2021.
Bing Guan | Bloomberg | Getty Images
California Democratic Governor Gavin Newsom survived a Republican attempt to remove him from office, according to a projection by NBC News. The gubernatorial vote was the second in California history to qualify for the election. Newsom – who was overwhelmingly elected to a four-year term ending in 2023 – spent months fending off the GOP-led effort that ended last year on allegations that the Newsom government misled the state’s response to the Covid pandemic handled, gained in importance.
4. Biden meets with U.S. employers about Covid vaccines
President Joe Biden speaks during a press conference on the grounds of the National Renewable Energy Laboratory (NREL) September 14, 2021 in Arvada, Colorado.
Helen H. Richardson | Denver Post | Getty Images
President Joe Biden plans to meet with major U.S. employers at the White House on Wednesday to discuss the federal immunization mandate. The meeting takes place while the Biden government is working out rules requiring large employers to vaccinate or test their workers weekly. In guidelines to federal agencies earlier this week, the White House said that federal employees must be “fully vaccinated” no later than November 22nd. The firing mandate announced last week faces legal, political, and enforcement issues.
5. SpaceX will make history with the first purely civilian crew
Elon Musk, CEO of SpaceX, and Jared Isaacman, CEO of Shift4 Payments, pose together at SpaceX headquarters in Hawthorne, California to announce the all-civilian space mission Inspiration4.
Four amateur space travelers, led by e-commerce billionaire Jared Isaacman, were due to take off abroad on a SpaceX rocket Wednesday night. They would be the first purely civilian crew to be launched into orbit. Isaacman, 38, the benefactor of the trip, has transferred an undisclosed amount to billionaire SpaceX owner Elon Musk. Time magazine estimated the ticket price for all four seats at $ 200 million. Early that summer, Virgin Galactic’s Richard Branson and Blue Origin’s Jeff Bezos went into space. Musk has not yet flown into space.
– Reuters contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.