Wall Street is keeping close tabs on the UAW strike against Ford, GM and Stellantis as it drags into its third week, as well as three key reports on the job market.
The JOLTS report will kick off the first of three updates on employment in the U.S. The number of job openings is expected to remain around 8.8 million, which is down from the peak 11 million.
In earnings news, spice maker McCormick & Co will report results and Microsoft will kick off its OneDrive online event to showcase the next generation of file management across Microsoft 365.Sam Bankman-Fried leaves court in New York on July 26, 2023.More than 75,00 union health care workers at Kaiser Permanente say they will strike on Wednesday if a new contract is not reached. The existing contract expired on Saturday.
And a national emergency alert will blast across mobile phones, TVs and radios Wednesday. 2:20 p.m. ET/11:20 a.m. PT on Oct. 4. "The purpose of the Oct. 4 test is to ensure that the systems continue to be effective means of warning the public about emergencies, particularly those on the national level. In case the Oct. 4 test is postponed due to widespread severe weather or other significant events, the back-up testing date is Oct. 11." the agencies said.
In economic data, mortgage applications, ADP's employment, factory orders and weekly crude inventories will be released. Thursday, October 5In earnings news, Constellation Brands and Levi Stauss will report, along with economic data on initial jobless claims and the trade balance.Also on Thursday, Virgin Galactic is targeting the launch of Galactic 4 for its fifth commercial space flight.
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