5 things to know before the stock market opens Thursday, September 1

Cleveland Federal Reserve Board President and CEO Loretta Mester delivers her keynote address at the 2014 Financial Stability Conference in Washington on December 5, 2014.

Gary Cameron | Reuters

Here are the most important information investors need to start their trading day:

1. Stocks can’t get rid of them

So much for a fresh start in September. US stock markets were ready for another sale Thursday morning after closing August on a losing streak. Things looked promising for stocks this summer after a terrible first half. Inflation has eased, but only a little – and the Federal Reserve is ready to raise rates even further. Currently, the Fed’s benchmark rate is between 2.25% and 2.5%, but the Cleveland Fed Chairman Loretta Mester said on Wednesday she sees the rates increase considerably to more than 4%. She also does not expect the central bank to cut rates next year. The Fed is expected to raise rates an additional three-quarters of a point later this month.

2. Nvidia slips after US crackdown

A sign is displayed outside Nvidia’s corporate headquarters on May 10, 2018 in Santa Clara, California.

Justin Sullivan | Getty Images

Shares of Nvidia fell in trade outside opening hours after the chipmaker said the US government was restricting sales to China over fears the Chinese military would use the company’s products. Nvidia said it expects to lose about $400 million in revenue from China in the current quarter. The United States has sought in recent years to prevent China from exploiting technology made in the United States. Last month, President Joe Biden signed a bipartisan bill which aimed to boost the U.S. chip manufacturing sector in a bid to bolster the country’s competitive power in its economic fight with China.

3. Inflation of warehouse clubs

A customer gets bottled water at a Sam’s Club during a heat wave on July 21, 2022 in Houston, Texas.

Brandon Bell | Getty Images

Even Sam’s Club, walmart, is not inflation-proof. The company said Wednesday that it was increase your entry-level premium for Sam’s Club for the first time in nine years. Starting Oct. 17, members will pay $50 per year, up from $45 previously. Warehouse stores have been doing well lately as inflation-weary shoppers buy in bulk to save on essentials. Walmart’s move could put pressure on Sam’s Club rival Costco, which charges $60 a year for its basic membership. In July, Costco CEO Craig Jelinek told CNBC he didn’t think now was the “right time” to raise club fees — or the price he charges for his famous cheap hot dogs.

4. FDA approves omicron variant boosters

Britain has become the first country in the world to approve Moderna’s bivalent Covid-19 vaccine, which targets both the original strain of the virus and the new Omicron variant.

Long Video Press | Universal Image Group | Getty Images

The FDA has approved a new cycle of Covid boosters that target the highly contagious omicron BA.5 subvariant. The decision was made as children return to school and many companies are pushing their employees to get back to the office in earnest. Experts expect Covid cases to rise this fall and winter, but with reduced death rates. Officials also said that the new boosters – Pfizer‘s are allowed for people 12 and older; Modern‘s for ages 18 and older – should provide longer lasting protection while reducing hospitalization rates.

5. Attacks threaten the inspection of Ukrainian nuclear power plants

Ukrainian President Volodymyr Zelenskyy shakes hands with International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi, who is to lead a planned mission to the Zaporizhzhia nuclear power plant, as Russia attacks against Ukraine continues, in Kyiv, Ukraine, on August 30, 2022.

Ukrainian Presidential Press Service | via Reuters

UN inspectors delayed their inspection of Ukraine’s Zaporizhzhia nuclear power plant amid nearby fighting between Russian and Ukrainian forces. Ukraine’s state nuclear energy company said the plant’s fifth reactor was also shut down due to shelling nearby. The facility is occupied by the Russians, and Ukrainian officials have accused them of trying to spoil the inspectors’ visit. Ukrainian President Volodomyr Zelenskyy, who hosted the UN team on Wednesday, warned the plant was vulnerable to a nuclear disaster as his forces sought to repel Russian President Vladimir Putin’s invading forces. (Update: Inspectors have arrived at the factory.)

– CNBC’s Sarah Min, Kif Leswing, Melissa Repko, Spencer Kimball and Holly Ellyatt contributed to this report.

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