Stocks

The price of WTI and Brent crude oil continues to rise as Wall Street traders eye a deeper supply deficit in the fourth quarter after Saudi Arabia and Russia extended supply cuts.

Novo Nordisk, a pharmaceutical company, experienced a decline in its stock prices following a report by financial news agency MarketWire.

Investors will be closely watching the Federal Reserve's decision on interest rates, as well as the ongoing UAW strike against Ford, GM and Stellantis in the coming week.

Planet Fitness said on Friday it is replacing chief executive Chris Rondeau replacing him with board member and former New Hampshire Gov. Craig Benson.

Instacart controls about 22% of the $132 billion U.S. online grocery-delivery market, according to Evercore. The company said it had 5.1 million users as of June 2023.

The price of oil hit $90 per barrel as crude supply tighten amid oil production cuts from Saudi Arabia and Russia, creating a new headline in the fight to bring down inflation.

Berkshire Hathaway recently pared its stake in HP Inc. by several million shares, a SEC filing showed Wednesday. Its holdings of HP Inc now stand at 115.45 million shares.

Arm Holdings, owned by SoftBank, made its debut on Wall Street on Thursday, after pricing its initial public offering at $51 per share at a valuation of $54 billion in high demand.

Global debt provides another negative for an already stretched equity multiple, JPMorgan says. Inflation ticked up again in August, putting more pressure on equities.

Birkenstock is heading for an initial public offering, with the company revealing its plans in a Tuesday filing with the Securities and Exchange Commission.

J.M. Smucker will buy Hostess Brands in a deal valued at $5.6 billion. Smucker said the acquisition is expected to close in the third quarter of its current fiscal year.

Earnings and economic data will begin on the 22nd anniversary of 9/11, with the largest IPO of 2023 expected midweek and UAW deadline for Ford, GM and Stellantis this week.

Apple has lost nearly $200 billion in market value amid a string of reports citing iPhone curbs for workers in China, according to data collected by Dow Jones Market Data Group.

Despite Stellantis coming closer to UAW demands than contemporaries Ford and GM, the offer is still much less than the 46% wage hike being sought by the union.

AMC Entertainment shares are falling on Wall Street on Wednesday after the movie theater company disclosed an equity distribution agreement to sell more than 40 million common shares.

Southwest Airlines and the International Brotherhood of Teamsters announced a tentative agreement on a new contract for more than 480 material specialists.

SoftBank is offering 95.5 million American depository shares of Arm for $47 to $51 each and is aiming to pull in $4.87 billion on the high end, according to a regulatory filing.

UBS will absorb Credit Suisse's Securities Research service later in September, wrapping the business into its own research operations, the bank said in a letter.

For stocks, September is historically one of the worst months on record, followed by an equally rough October. This year, the crosscurrents are a little different for investors.

After the Labor Day holiday, investors will kick off the first week of September with a host of earnings and Goldman's technology conference featuring the world's biggest AI players.