Daily Stock Market News

5 things to know before the stock market opens Thursday, September 29

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022.

Brendan McDermid | Reuters

Here are the most important news items that investors need to start their trading day:

1. So much for that

2. Wait-and-see mode

Signs mark a Bed Bath & Beyond store in Somerville, Massachusetts.

Brian Snyder | Reuters

3. Ian pushes into Florida

Hurricane Ian made landfall in Florida as a dangerous Category 4 hurricane Wednesday afternoon. (Photo by Lokman Vural Elibol/Anadolu Agency via Getty Images)

Lokman Vural Elibol | Anadolu Agency | Getty Images

Ian, after slamming into Florida as a Category 4 hurricane, weakened to a tropical storm, but it remains dangerous as it forges its way through the central part of the state. It’s too early to calculate the damage the storm has already caused in Florida. Dramatic video and images of violent winds and relentless flooding spread across social media Wednesday and Thursday. “Water. We have to talk about the water,” National Weather Service Director Ken Graham said. “Ninety percent of fatalities in these tropical systems comes from the water. It’s the storm surge, it’s the rain.” Millions were left without power, too, as Gov. Ron DeSantis warned of a “nasty” few days, and President Joe Biden declared a major disaster in the state.

4. Amazon hikes pay

Amazon signage is displayed outside of an Amazon.com Inc. delivery hub in the late evening of Amazon Prime Day, July 12, 2022 in Culver City, California.

Patrick T. Fallon | AFP | Getty Images

Just as the busy holiday shopping season is about to kick off, Amazon said it is boosting the average pay for warehouse and delivery workers. The announcement came about two weeks before Amazon’s second Prime Day deals event, which is set for Oct. 11 and 12. The company’s decision to spend $1 billion on the pay increases also comes as employees press for better wages, benefits and working conditions in a growing union push. Amazon also said it is beefing up its payday advance program to allow employees to get up to 70% of their eligible earned pay whenever they choose and without fees.

5. Putin’s latest escalation

Read More: 5 things to know before the stock market opens Thursday, September 29

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