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HomeFinance NewsEssential Pre-market Insights for September 28th's Stock Market Opening

Essential Pre-market Insights for September 28th’s Stock Market Opening

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In the business news today, the United Auto Workers (UAW) union has threatened to expand its strike if negotiations with automakers do not progress. Currently, over 12% of UAW members are on strike, and new strike locations will be announced if significant progress is not made. President Joe Biden and former President Donald Trump have both shown support for the UAW workers during their recent visits to Michigan, where the strike is taking place.

In the tech world, Meta Platforms CEO Mark Zuckerberg is continuing to invest in the metaverse. At a conference for VR developers, Zuckerberg showcased new artificial intelligence software, along with Meta’s Quest 3 virtual reality headset and Ray-Ban smart glasses. Zuckerberg expressed his belief that smart glasses will become more prevalent as advancements in holograms and displays continue. The tech industry is currently experiencing an AI arms race, with companies like Meta and Google competing against the rising influence of OpenAI and its ChatGPT program.

Elon Musk’s SpaceX has secured its first Pentagon contract for its Starshield military satellite service. The contract includes end-to-end service through SpaceX’s Starlink satellite constellation, along with other equipment and related services. However, the contract has faced criticism due to Musk’s controversial ties to the Pentagon. Lawmakers have raised concerns, including allegations that Musk denied internet service to Ukraine, hampering their ability to launch a drone attack on Russia’s navy.

In the political arena, former President Donald Trump once again dominated the spotlight despite not participating in the 2024 Republican primary debate. Trump addressed auto workers during a rally in Michigan, seeking to secure support amid the UAW strike. Meanwhile, the other candidates in the Republican primary field engaged in a messy debate in California. While Nikki Haley has made some progress in recent weeks, it is unlikely that the debate had a significant impact on the race or Trump’s standing in it.

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