Five things you need to know before the market opens on Tuesday August 29:
1. -- Stocks extend gains, tracking Treasury yields, with jobs data in focus
Wall Street is looking to extend a run of back-to-back gains for the S&P 500 as lower Treasury bond yields lift stocks ahead of a key run of jobs data releases.
2. -- Jobs Data Run Run Kicks-Off With July Jolts Report, Eyes on August Payrolls
The Bureau of Labor Statistics will kick-off a four-day run of key jobs data releases later today with its closely tracked July Jolts report.
3. -- Best Buy earnings to focus on Apple sales impact, improving consumer demand
Best Buy, which relies on Apple for around a fifth of its overall revenues, will report second quarter earnings prior to the opening bell Tuesday.
4. -- President Biden to name first drugs targeted for Medicare price negotiation
President Joe Biden is expected to unveil the biggest change to Medicare in more than six decades Tuesday as his administration reveals the names of the first ten prescription drugs that will be targeted for direct price negotiation by the U.S. government.
5. -- Idalia Upgraded to Hurricane, Florida Officials Fear Cat 4 Hit To Gulf Coast
Hurricane Idalia could hit the Gulf coast of Florida as a Category 4 storm nearly 11 months on from the devastating impact of Hurricane Ian.
