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5 things you should know before the stock market opens on Monday
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5 things you should know before the stock market opens on Monday

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

1. Fed by the Fed

Stock prices jumped last week as investors awaited an expected September interest rate cut. Federal Reserve Chairman Jerome Powell supported a solid rise in stocks when he hinted that the central bank would soon cut borrowing costs. All three major U.S. indexes gained more than 1% this week, posting their second consecutive positive week. Economic data expected this week include unemployment figures on Thursday and personal consumption spending on Friday. Follow live market updates here.

2. Chips and consumers

A busy week of earnings will help shape stock prices. An important report will come from the market engine on Wednesday NVIDIA. It is also a busy week for retail, including the results of Abercrombie & Fitch, whose shares have been on a rapid rise. The reports come as investors look for information on the health of consumer spending. Here are some reports to keep an eye on this week:

3. Return empty

BoeingThe Starliner capsule will return to Earth empty. The NASA astronauts the spacecraft carried into orbit will remain on the International Space Station for another six months. They will now return in February on SpaceX’s Dragon spacecraft. The decision followed problems with the Starliner’s crewed flight test. On Saturday, NASA Administrator Bill Nelson said: “We want to better understand the root causes and understand the design improvements so that the Boeing Starliner can be an important part of our assured access to the ISS for our crew.” He said the decision was made for safety reasons.

4. Trump relies on cryptocurrencies

Former President Donald Trump has changed his mind about cryptocurrencies. Several years after calling them a “fraud,” Republican presidential candidates have embraced the currencies. He praised the crypto industry during an industry conference in July, in part because he sees the potential for major campaign donations. Trump’s about-face came after years of work by crypto advocates who had tried to recruit him to their cause.

5. Fee battle

As the federal government cracks down on so-called junk fees, restaurants are trying to stay out of the fray. Restaurants are increasingly adding extra surcharges to their bills, ostensibly to generate more revenue and better compensate employees without increasing menu prices. But many politicians and restaurant patrons have raised concerns about hidden fees, and some employees have expressed doubts about whether the money is being distributed fairly. The restaurant industry is pushing the Federal Trade Commission and state regulators to make exceptions to the rules to combat junk fees.

—CNBC’s Lisa Kailai Han, Brian Evans, Michele Luhn, Michael Sheetz, MacKenzie Sigalos and Amelia Lucas contributed to this report.

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