5 things to know before the stock market opens on Friday, August 25th
Here are the top stories investors need to start their trading day:
1. Powell’s speech
Stock futures rose slightly Friday morning as investors await Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole, Wyoming. Dow Jones Industrial Average Futures rose 76 points, or 0.2%. Futures linked to the S&P 500 rose 0.2%, while futures on the Nasdaq-100 rose 0.1%. The summit in Jackson Hole brings together central bankers and key financial officials from around the world, and Powell has often used the occasion to push the Fed’s policy agendas. This year, with inflation slowing and a recession looking less likely, many expect Powell to feel less of the need to steer markets and may take a more modest approach. Follow live market updates.
2. Subway sale
A person walks out of a Subway sandwich shop on Water Street on August 21, 2023 in New York City.
Michael M. Santiago | Getty Images
3. The Department of Justice is suing SpaceX
CEO of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center on June 16, 2023 in Paris, France.
chesnut | Getty Images
4. Embrace technology
Hugging Face located on a smartphone set up in New York on August 17, 2023.
Gabby Jones | bloomberg | Getty Images
You could say an AI startup based in New York just got a hold of it Hug support from many tech giants. Hugging Face — named after the hugging face emoji that shows a smiling face surrounded by open hands — has raised $235 million at a valuation of $4.5 billion, a sign that the artificial intelligence boom is continuing. The company said Google, Amazon, nvidia, sales force, AMD, Intel, ibm And Qualcomm Everyone contributed to the tour. Hugging Face is a more collaborative AI model than other projects. Its platform allows developers to more easily share code, models, and datasets, and use the company’s tools to run open-source AI models.
5. Trump’s arrest
Source: Fulton County Jail
— CNBC’s Hakyung Kim, Jeff Cox, Amelia Lucas, Michael Sheetz, Kev Leswing, Dan Mangan and Kevin Brueninger contributed to this report.
— Follow the broader market movement like a pro CNBC Pro.
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