The September jobs report comes as the Federal Reserve keeps a close eye on unemployment; U.S. dockworkers agree to end a three-day strike after port operators offer pay hike; Spirit Airlines (SAVE) shares are sinking in premarket trading on a report it's reviewing bankruptcy options; the 澳洲幸运5官方开奖结果体彩网:European Union (EU) votes to impose new tariffs on electric vehicle (EV) batteries made in China, risking retaliation by Beijing; and shares of EV maker Rivian Automotive (RIVN) are fallin🎃g after it cut its deliveries outlook. Here's what investors need to know today.
1. Jobs Report Comes as Federal Res꧃erve Eyes Labor Market
Investors will be closely watching today's 8:30 a.m. ET release of the September U.S. employment report, which could help influence future Federal Reserve action on interest rates. Economists expect the unemployment rate to remain at 4.2%, while employers are expected to have added 150,000 jobs in September, up from 142,000 the prior month, according to forecasters polled by Dow Jones Newswires and The Wall Street Journal. It's the first job report since the 澳洲幸运5官方开奖结果体彩网:Fed cut interest rates last month as it raised worries about a rising unemployment rate, which 澳洲幸运5官方开奖结果体彩网:some analys♑ts have projectꦰed will move higher in today's report.
2༺.𓆉 US Dockworkers Agree to Suspend Three-Day Strike
U.S. dockworkers 澳洲幸运5官方开奖结果体彩网:agreed to suspend a massive three-day strike until Jan. 15, after reaching a tentative agreement with port operators on wages. Over the course of six years, dockworkers will see their minimum hourly pay increase to $63 from $39, a 62% bump, according to The Wall Street Journal. Economists projected that the strike could have cost the U.S. economy as much as 澳洲幸运5官方开奖结果体彩网:$4.5 billion per day. European shares of shipping giants Hapag-Lloyd and Maersk are declining by 12% and 6%, respectively, on the development.
3. Spirit Airlines Stock Sinks After Report of Potential Bankruptcy Fi𝓰ling
Spirit Airlines (SAVE) shares are falling by 35% in premarket trading after a report that the budget carrier is 澳洲幸运5官方开奖结果体彩网:reviewing bankruptcy options following its failed 澳洲幸运5官方开奖结果体彩网:$3.8 billion merger with JetBlue Airways (JBLU). The Wall Street Journal reported that Spirit executives were in discussions with bondholders over the terms of a 澳洲幸运5官方开奖结果体彩网:Chapter 11 bankruptcy filing as the carrier grapples with a debt load of $3.3 billion. The news is helping boost shares of rivals JetBlue and Frontier Airlines parent Frontier Group Holdings (ULCC) more than 4% each in premarket trading.
4. EU Appr♔oves ꦅTariffs on Chinese EVs, Risking Beijing Retaliation
The 澳洲幸运5官方开奖结果体彩网:European Union (EU) on Friday voted to impose tariffs on Chinese-made 澳洲幸运5官方开奖结果体彩网:electric vehicles (EVs), risking further retaliation from Beijing, which in August launched an anti-subsidy investigation into 澳洲幸运5官方开奖结果体彩网:EU dairy imports. The move comes after 澳洲幸运5官方开奖结果体彩网:Europe warned it would target Chinese EVs for new tariffs over subsidies from Beijing. Earlier this year, the U.S. and Canada boosted tariffs on Chinese EVs, ꧟with the White House saying the move was aimed at prote♐cting American workers "from China's unfair trade practices."
🅰 5. EV Maker Rivian Stock Sinks on Deliveries Outlook Cut
Shares of EV maker 澳洲幸运5官方开奖结果体彩网:Rivian Automotive (RIVN) are falling more than 8% in premarket trading after it cut its full-year deliveries projection, citing a production slowdown stemming from shortage of a shared component on the R1 and RCV platforms. "This supply shortage impact began in Q3 of this year, has become more acute in recent weeks and continues," it said. Rivian lowered its annual production guidance to between 47,000 and 49,000 vehicles, down from earlier projections of 57,000.