Markets poised for a flat start as Powell plays down inflation
U.S. stocks look set for a quiet end to the week after hitting record highs on Thursday as Federal Reserve Chairman Jerome Powell vowed to get the nation back to a “great economy” and played down the risk that inflation could get out of hand as the Covid-19 pandemic recedes.
Powell signaled at an International Monetary Fund event that the Fed was nowhere near cutting support for the American economy, stating that while reopening could trigger higher prices temporarily, it won’t cause inflation.
By 5:40 a.m. ET, futures tied to the blue-chip Dow indicated a gain of 56 points, or 0.17% to 33,446. Those for the S&P 500 and the technology-heavy Nasdaq 100 futures were little changed.
Amazon on track to defeat a closely-watched unionization vote in Alabama
Amazon (NASDAQ: AMZN) looks set to defeat a historic unionization vote in Alabama that would have led to the formation of its first union in the United States.
With nearly half the 3,215 votes counted so far at a fulfillment center located in Bessemer, Alabama, roughly 70% of Amazon workers have voted against unionization.
A count of the ballots was halted last night, but the National Labor Relations Board will resume counting today, when a final outcome could be announced.
Shares of Amazon were little changed in the pre-market trading session Friday.
Impossible Foods reportedly preparing to go public
Impossible Foods is readying to make its market debut via a listing that could give the U.S. plant-based meat maker a valuation of $10 billion or more, Reuters reported on Thursday, citing anonymous sources.
The sources told the news outlet that Impossible plans to file go public within the next 12 months. However, the sources were not sure about whether the company would debut through a normal IPO, or merge with a special purpose acquisition company (SPAC).
Impossible Foods, which is backed by capital investors Horizons Ventures and Khosla Ventures, raised money last year at a $4 billion valuation.
Boeing asks some customers to address a potential 737 Max production issue
Boeing (NYSE: BA) stock slipped on Friday after the aerospace giant asked some of its customers in a press release to address a potential a potential issue electrical issue found in certain 737 Max planes before further operations.
The plane maker made the recommendation to allow for verification that a sufficient ground path exists for a component of the electrical power system in some affected 737 Max jets with specific tail numbers.
Boeing said it is working closely with the U.S. Federal Aviation Administration on the issue. As of this writing, shares of the company were down 0.59% to $253.45 each in the pre-market trading session Friday.
