Inflation reports eyed as stocks rally ahead of data
Investors anticipate inflation data as S&P 500 climbs to 4110.41, Dow +229.63, Nasdaq +154.10 amid hopes inflation cooled from July and could enable a softer Fed rate path. Analysts expect August CPI near 8.1 percent year over year, with June peak at 9.1 percent.
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Bezos rocket crashes after liftoff in Cape Canaveral
Blue Origin's New Shepard uncrewed flight ends in a fuel and engine anomaly with the capsule parachuting to safety near the desert floor. FAA reports no injuries as rockets ground pending investigation. 36 experiments aboard NASA and student sponsors, none harmed.
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Kokomo Casting plant workers strike over safety and repairs
A 35 acre Kokomo Casting plant with 1200 workers, the world’s largest die cast facility for Chrysler, Dodge, Jeep and RAM parts, faces a health and safety strike over alleged failure to repair HVAC systems. Jury selection began in Trevor Milton’s fraud trial for Nikola Corp, with Milton pleading not guilty. Biden signs an executive order to boost U S biomanufacturing, hosting a summit to unveil investments and expand biotech in pharma, agriculture, plastics and energy.
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Railroads, unions under pressure to avert Friday strike
Freight railroads and unions face mounting pressure from business groups and the White House to settle before Friday’s strike deadline. Biden administration officials and Labor Secretary Walsh urge a deal, citing economic risk and the need to keep the freight system running. UAW at Stellantis casting plant in Indiana reaches tentative agreement after a weekend strike.
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