Trader on the floor of the New York Stock Exchange, September 20, 2022.
Here are the most important news investors need to start their trading day:
Investors brace for the Federal Reserve rate announcement Wednesday. A three-quarter point rise in the benchmark rate is expected, but markets are seeking more clarity on what the Fed will do for the rest of the year and beyond as long as high inflation persists. The Fed will announce its decision at 2 p.m. CNBC.com. american stocks, meanwhile, appeared headed for a flat to slightly higher open on Wednesday. All three major indexes fell on Tuesday, while 2-year and 10-year Treasury yields rose to their highest levels in more than 10 years.
Russian President Vladimir Putin delivers a speech during a ceremony to receive credentials from newly appointed foreign ambassadors at the Kremlin in Moscow, Russia, on September 20, 2022.
Pavel Bednyakov | Sputnik | Reuters
Russian President Vladimir Putin said he would call some of the country’s reserves as his invasion of the Ukraine stumbles with setback after setback. Putin’s announcement of a mobilization was vague on other points, but it does warn people and businesses in Russia that they could contribute more to the Kremlin’s operation in its former Soviet neighbor. Ukraine, backed by Western money and weaponry, has recaptured territory through an aggressive counteroffensive that has put Russian forces on the run in the south and east of the country. Putin’s speech, in which he claimed that the West was trying to destroy Russia and apparently threatened nuclear retaliationit is a major escalation that sends a stark message to world leaders who are meeting this week in New York for the United Nations General Assembly.
real estate listings
adam jeffery | CNBC
Another week, another crazy turn in the real estate market. The demand for mortgages really grew even though rates topped 6%, effectively doubling what they were at the beginning of this year. Refinance applications, which tend to be more sensitive to large rate fluctuations than purchase applications, rose 10% for the week, though they were still more than 80% down from a year ago. While the data may be a bit surprising, don’t trust it to indicate a broader trend. Homes remain expensive, even as sellers are negotiating higher and some homebuilders are priced lower.
A YouTube logo seen at YouTube Space LA in Playa Del Rey, Los Angeles, California, the United States, October 21, 2015.
Lucy Nicholson | Reuters
TikTok continues to disrupt former disruptors. YouTube owned by Alphabetis Google, said on Tuesday that it will share income with the creators of the platform’s short videos, as it competes with TikTok for the audience of short-form viral videos. In the second quarter, YouTube posted its slowest revenue growth since 2019, when Alphabet began breaking down unit sales. The movement comes as legacy social media platforms, including GoalFacebook, have been dealing with a loss of users to TikTok, which is owned by the Chinese company ByteDance.
Source: Washington County, Arkansas
beyond the meat Chief Operating Officer Doug Ramsey allegedly bit off a man’s nose and through the rear windshield of a Subaru during a road rage incident Saturday in an Arkansas parking lot. now it’s suspended from her job at the vegan food producer while awaiting her court date in October. Ramsey, who joined Beyond Meat months ago after three decades at Tyson Foods, was also accused of threatening to kill the man. The alleged altercation, arrest and suspension come at a difficult time for Beyond Meat. As the company’s sales have fallen, so has its share price, which is down 75% so far this year. Three years ago, the company was valued at $13.4 billion. Now its market capitalization is just over $1 billion.
– CNBC’s Patti Domm, Carmen Reinicke, Holly Ellyatt, Jennifer Elias, Diana Olick and Amelia Lucas contributed to this report.