Here are five things you must know for Thursday, Sept. 26:
1. -- Stock Futures Rise on Bullish Trade Signals
U.S. stock futures rose modestly on Thursday while Asian shares were mostly higher after Donald Trump said the costly U.S.-China trade war could be resolved soon.
Contracts tied to the Dow Jones Industrial Average were up 47 points, futures for the S&P 500 gained 4.45 points, and Nasdaq futures rose 5.50 points.
The president said an agreement to end a nearly 15-month trade war with China could happen sooner than people think.
"We've picked up trillions of dollars and they've lost trillions of dollars and they want to make a deal very badly," Trump said Wednesday. "It could happen. It could happen sooner than you think."
"Investors have been 'trade war' bearish for so long that any sliver of optimism is cheered," said Stephen Innes of AxiTrader.
Trump also signed a limited trade agreement with Japan that will eliminate tariffs and expand market access on farm, industrial and digital products.
Stocks finished higher Wednesday after Trump told reporters China wants "to make a deal very badly" and investors pushed aside concerns about an impeachment probe into Trump's presidency. Impeachment talk dominated much of Wednesday after the White House released a transcript of Trump's phone call with Ukraine in which he asked Ukraine to "look into" former Vice President Joe Biden and his son.
The Dow rose 163 points, or 0.61%, to close at 26,971, the S&P 500 advanced 0.62%, and the Nasdaq jumped 1.05%.
2. -- GDP and Micron Earnings Are Thursday's Highlights
The economic calendar in the U.S. on Thursday includes the third estimate of second-quarter GDP at 8:30 a.m. ET. Economists surveyed by FactSet expect U.S. growth in the second quarter of 2%, unchanged from the second estimate.
The calendar also includes Jobless Claims at 8:30 a.m., International Trade in Goods for August at 8:30 a.m., and Pending Home Sales for August at 10 a.m.
Earnings reports are expected Thursday from Micron Technology (MU) - Get Report , Carnival (CCL) - Get Report , Conagra Brands (CAG) - Get Report , Rite Aid (RAD) - Get Report , Accenture (ACN) - Get Report , Progress Software (PRGS) - Get Report and FactSet Research Systems (FDS) - Get Report .
3. -- Peloton Is Valued at More Than $8 Billion After IPO Prices at $29 a Share
Peloton's initial public offering was priced at $29 a share, the top of its indicative range of between $26 and $29.
The offering raised $1.16 billion and values the connected fitness company at about $8.3 billion, more than double the valuation Peloton fetched in its most recent round of fundraising in August 2018.
Peloton will be tasked with persuading investors that its business model and market opportunity are an appealing bet.
In a regulatory filing, Peloton revealed a growing membership base as well as increasing losses. Peloton sells high-end exercise equipment and workout subscriptions for at-home use, at a range of price points. Its home fitness equipment ranges from $2,000 to $4,000, and its workout plan subscriptions range from $20 to $40 a month.
4. -- Amazon Builds Out Its Alexa Ecosystem at Hardware Event
The tech and online retailing giant at an event Wednesday unveiled a number of new Echos, including some surprising iterations on the popular smart speaker lineup. It also announced updates to Ring, its home security devices, a new Eero system, and more.
Some of the highlights this year included new devices for the home. As had been widely expected, Amazon revealed a high-end Echo speaker, called Echo Studio, that delivers premium audio quality in the mold of Sonos and retails for $200.
Amazon also rolled out Echo Buds, a connected earbuds product that stacks up as a competitor to Apple's Air Pods, and Echo Loop, a smart ring. Unsurprisingly, the wearable products include the ability to use Alexa, and the $130 Echo Buds also come outfitted with Bose-quality audio.
In addition to Loop and Buds, Amazon also surprised many onlookers with $180 Echo Frames, a smart glasses product that's also activated through Alexa. At least for the time being, that will be available only through Amazon's Day One program, which allows a select group of early adopters to buy the first version of a product.
"I believe the most important devices announced were the more personal, wearables like Echo Loop, Frames and Buds," said Patrick Moorhead, president at Moor Insights & Strategy. "Amazon missed the smartphone era, and if these devices are successful, consumers will have pervasive Alexa."
5. -- Justice Department Intends to Investigate Facebook - Report
A Justice Department probe would be in addition to a Federal Trade Commission inquiry into the social media giant that already is under way. The federal agencies are investigating whether Facebook it has harmed competition in violation of antitrust laws.
The Justice Department's case will focus on conduct that's separate from what the FTC is examining, the person told Bloomberg.
The FTC began its investigation of Facebook after reaching an agreement in May with the Justice Department to divide four of the biggest tech companies between them. Under that deal, the FTC got jurisdiction over Facebook and Amazon, while the Justice Department took Alphabet's Google (GOOGL) - Get Report and Apple (AAPL) - Get Report , Bloomberg noted.
The agreement has now been overridden after Barr pushed to retain jurisdiction over Facebook, the person told Bloomberg.
Facebook shares fell 1.07% to $180.85 in premarket trading Thursday.
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