5 Things to Know Before the Stock Exchange Opens on Friday October 1st

Here are the most important news, trends and analysis that investors need to start their trading day:

1. The Dow is about to rebound after the close of the worst month of the year.

Traders work at the New York Stock Exchange (NYSE) on September 30, 2021 in New York.

Spencer Platt | Getty Images

2. Merck will seek approval for oral treatment of Covid, the number of shares has risen sharply.

Merck and Ridgeback Biotherapeutics plan to request an emergency authorization for their oral antiviral treatment for Covid after announcing “compelling results” in clinical trials. Dow Merck shares rose nearly 9% in premarket Friday. The companies said Friday that the drug molnupiravir reduces the risk of hospitalization or death by about 50% for patients with mild to moderate cases of Covid. Molnupiravir is administered orally and acts by inhibiting the replication of Covid in the body. Pfizer is working on its own oral antiviral drug. Gilead Sciences’ antiviral remdesivir, which is given through a drip, was approved for emergency use a year ago.

3. The inflation rate, which the Fed uses to make policy, remains elevated.

V The yield on 10-year Treasury bonds fell on Friday by about 1.5%. Earlier this week, the 10-year bond yield hit a three-month high above 1.567%. On Friday, the government released the inflation rate that the Federal Reserve uses to guide monetary policy. V basic personal consumption expenditure price index in August rose 3.6% year-on-year, slightly above forecasts and in line with July growth, which reached a 30-year high. Fed Chairman Jerome Powell said this week that inflationary pressures could last longer than expected, citing supply chain bottlenecks as a key factor.

4. Biden signs temporary funding bill to prevent government shutdown.

House of Representatives Speaker Nancy Pelosi, California, is surrounded by members of the House Democratic faction as she holds a standing resolution she signed to avoid the closure of the U.S. government during a bill filing ceremony on Capitol Hill in Washington on September 30, 2021.

Elisabeth Franz | Reuters

5. Biden failed to break the deadlock, voting on infrastructure postponed

US President Joe Biden attends a press conference with German Chancellor Angela Merkel (not pictured) at the East Hall of the White House in Washington, DC, USA on Thursday, July 15, 2021.

Alex Edelman | Bloomberg | Getty Images

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