Here are the most important news items that investors need to start their trading day:
1. Stocks slip
Stock futures were slightly lower Tuesday to start the trading week. Futures tied to the Dow Jones Industrial Average were down 8 points, or less than 0.1%. S&P 500 futures slid 0.1%, while Nasdaq 100 futures fell 0.3%. Those moves come after a positive week on Wall Street that saw the Dow and the Nasdaq add 1.4% and about 3.3%, respectively, for their best weeks since July. The S&P 500, meanwhile, gained 2.5% for its best week since June. Last week, traders were watching new economic signs that indicated easing price pressures, including the latest U.S. nonfarm payrolls report, which showed the unemployment rate rose in August to 3.8%, its highest level in more than a year. But September, which is historically the weakest month for equities, could be a challenging month. Follow live market updates.
2. Rising competition
The BMW Vision Neue Klasse was unveiled at the IAA Mobility 2023 International Motor Show in Munich.
Arjun Kharpal | CNBC
Mercedes-Benz and BMW want to take on Tesla. The automakers unveiled electric concept cars that are built on entirely new platforms at the IAA auto show in Munich, making their most aggressive push into battery-powered vehicles yet. It’s unclear what the final versions of the EVs will look like, but Mercedes has placed a big focus on the interior and user experience. Meanwhile, BMW said its car design embodies classic elements that fans know of the brand. Chinese electric car companies and start-ups were also featured prominently at the show, holding high-profile press conferences and vehicle launches as part of their attempts to make a splash outside of their home country.
3. Blacked out
The Disney+ website on a laptop computer in the Brooklyn borough of New York, US, on Monday, July 18, 2022.
Gabby Jones | Bloomberg | Getty Images
Disney is encouraging sports fans and other customers to switch to a live TV option from Hulu as part of its ongoing fight with Charter Communications. Disney pulled its channels — including ESPN and ABC — off Charter’s Spectrum cable service last week as the companies battle over contract fees. The blackout came in the middle of U.S. Open tennis coverage and other live sporting events, including the start of the college football season. Charter’s dispute with Disney stems in part from the fees Disney is seeking for its programming at a time when cable TV viewership is on the decline…
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