Trader on the floor of the NYSE Aug. 30, 2022.
Source: NYSE
Here are the most important news items that investors need to start their trading day:
1. That Friday feeling
2. Yellen touts the Biden economy
U.S. Treasury Secretary Janet Yellen at Ford’s Rouge electric vehicle facility in Dearborn, Michigan.
Mike Wayland
3. Tesla weighs lithium refinery in Texas
A giant cowboy boot is on display outside the Tesla Giga Texas manufacturing facility during the “Cyber Rodeo” grand opening party on April 7, 2022 in Austin, Texas.
Suzanne Cordeiro | AFP | Getty Images
4. Britain after Elizabeth
Queen Elizabeth II died Thursday at age 96, concluding a 70-year reign that covered Britain’s recovery from World War II, the final decline of the empire, Margaret Thatcher’s battles with trade unions, the formation of the European Union and the U.K.’s exit from it, and the Covid pandemic. Elizabeth’s passing marks a new era of uncertainty for Britain, writes CNBC’s Karen Gilchrist. Just days before her death, the queen met with a new prime minister, Liz Truss, who is tasked with taming the most challenging economy the nation has encountered in years. The pound hit a 37-year low this week, and Truss’s government is aiming to alleviate the country’s cost-of-living crisis with caps on energy bills. It’ll be tough medicine, and Elizabeth won’t be there to rally Britons’ morale. That’s up to King Charles now.
5. Apple’s prestige play
Still from AppleTV+’s “Severance.”
Apple
The Emmys are Monday, and Apple TV+ is a contender for several major awards. The streaming service is under three years old, and it doesn’t churn out the volume of content that, say, Netflix or HBO do. But with buzzy, critically acclaimed shows like “Ted Lasso” and “Severance,” Apple, already the elite personal gadget maker, is trying to stake its claim as a prestige player in streaming, writes CNBC’s Sarah Whitten. Apple TV+ made showbiz Hollywood history earlier this year when its “Coda” became the first streaming service release to win Best Picture at the Oscars. It’s not necessarily all about subscribers for Apple, either. “For Apple, the streaming service is just the means to the end — and the end is more sales of iPhones, Macs, Apple TVs, etc,” Peter Csathy, founder and chairman of advisory firm Creative Media. “As long as Apple TV+ screams quality, then it serves its purpose in Apple’s overall engine.”
— CNBC’s Sarah Min, Chelsey Cox, Arjun Kharpal, Karen Gilchrist and Sarah Whitten contributed to this report.
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