5 things to know before the stock market opens Friday
- Stocks climbed as the S&P 500 had its fourth winning day in a row.
- More than 30,000 Boeing workers are striking after they rejected a tentative labor agreement.
- Adobe shares slid in premarket trading after the company gave weaker-than-expected guidance.
Here are five key things investors need to know to start the trading day:
The S&P 500 marked its fourth winning day in a row Thursday, gaining 0.75%. The Nasdaq Composite did even better, rising 1%, as investors snapped up tech names, while the Dow Jones Industrial Average added 235.06 points, or 0.58%. The gains came as investors monitored Thursday's producer price index, which was the final inflation data that will be released before next week's Federal Reserve meeting. The report, which measures the average change in prices businesses receive for their goods and services, showed a 0.2% rise in wholesale prices in August, which was in line with expectations. Follow live market updates.
More than 30,000 Boeing workers are striking. Factory employees walked off the job Friday after they overwhelmingly rejected a tentative contract agreement between the plane maker and the International Association of Machinists and Aerospace Workers. The strike will halt production of Boeing's best-selling planes and comes as the company tries to recover from a string of missteps. IAM District 751 President Jon Holden called the work stoppage an "unfair labor practice strike." Boeing in a statement said it remains "committed to resetting our relationship with our employees and the union, and we are ready to get back to the table to reach a new agreement."
Adobe reported third-quarter results that beat Wall Street's expectations for sales and earnings. But shares of the company slid