Good morning. US stock futures fell in Wednesday morning trading as Wall Street geared up for the latest interest rate decision by the Federal Reserve.
🛍️ US consumer confidence dips for 3rd straight month
The Conference Board said its consumer confidence index fell to 102.6 in October from an upwardly revised 104.3 in September.
US consumers have been grappling with rising prices, particularly for groceries and gasoline.
The survey also noted that consumers also expressed concerns about the political situation and recent turmoil in the Middle East.
💡 So what: Declining consumer confidence suggests that consumers are feeling less optimistic about the overall state of the economy and their own financial situations. Policymakers and analysts closely monitor consumer confidence levels as they provide insight into potential shifts in consumer behavior and the broader economic outlook.
Wednesday - Federal Reserve Decision On Interest Rates, Fed Chairman Powell Press Conference
Thursday - Initial Jobless Claims (wk end Oct 28)
Friday - US Unemployment Rate
🏢 WeWork preps bankruptcy filing
WHY: WeWork raised substantial doubt about its ability to continue operations in August in a stunning reversal of fortune for a company that was once privately valued at $47 billion.
🚫 Biden goes after retirement advisers in junk fee crackdown
WHY: Biden has joined with companies like Airbnb and Live Nation to crack down on junk fees - or extra charges - customers pay when booking concert tickets, hotels and airfares.
🚢 Panama Canal slashes booking slots on drought concerns
WHY: The late arrival of this year’s rains and the lack of precipitation in the Canal’s watershed had forced the canal authority to reduce average daily transit capacity slightly to 32 vessels per day since July 30.
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