Powell speech, GDPR revision, private recruiting and more: 5 things to know Wednesday

Here are the key events that took place on Wednesday this can affect trade.

POWELL TALK: The Federal Reserve Chair will speak at the Brookings Institution on Wednesday.

This is the last big speech scheduled for Fed officials ahead of the next monetary policy meeting, December 13-14.

Investors will pay close attention to what Powell says, as it can provide clues as to what the next move in interest rates might be like.

FED OFFICIAL FIGHT ON INFLATION CAN LAST UNTIL 2024

Federal Reserve Chairman Jerome Powell will speak at the Brookings Institution. (AP Photo/Manuel Balce Ceneta, File / AP Newsroom)

ECONOMIC REPORTS: A few economic data points that could play a role in the Fed’s decision-making will be released: the second estimate of Q3 GDP. ADP custom payrolls report, vacancies and workforce turnover survey, pending home sales, and the Fed’s Beige Book.

A BNSF train leaves the courtyard

A BNSF rail terminal worker watches a freight train take off in Galesburg, Illinois. ((AP Photo/Safkat Anowar, File) / AP Newsroom)

CONGRESS AND RAIL VOTING: The US House of Representatives was due to vote Wednesday to prevent a railroad strike that could happen on December 9, after President Joe Biden warned of grave economic consequences and huge job losses.

House Speaker Nancy Pelosi said lawmakers will vote Wednesday to impose a temporary contract agreement reached in September on a dozen unions representing 115,000 workers.

Pelosi said they will vote separately on Wednesday on the House’s proposal to give railroad workers seven days of paid sick leave.

BIDEN’S PASSION TO MISS THE NATIONAL RAILWAY STRIKE FACED OBJECTION BY PROGRESSIVE DEMOCRATS

No paid sick leave under the tentative agreement after the unions request 15 days and the railways set a personal day.

The measure needs a simple majority to pass the Parliament. A 60 out of 100 votes is required for the bill to pass the Senate.

The U.S. Congress has passed laws multiple times over the past decades to delay or prohibit rail and airline strikes.

HEWLETT-PACKARD BUSINESSES: Shares rose 2% in long-term trading after the company announced quarterly results that matched analysts’ forecasts and offered strong revenue guidance.

The company estimated its first-quarter financial sales to be between $7.2 billion and $7.6 billion, while analysts polled by FactSet modeled an average of $6.98 billion.

EXCHANGE MAY DROP 24% NEXT YEAR, BANK OF AMERICA WARNED

HPE reported a fourth-quarter financial net loss of $304 million, or 23 cents per share, compared with net earnings of $409 million, or 31 cents per share, in the quarter a year ago. Adjusted earnings were 57 cents per share, according to the Wall Street Journal.

Analysts polled by FactSet were expecting an average net income of 57 cents per share on revenue of $7.37 billion.

Petco location

Entry of a pet products and services retailer (iStock / iStock)

EARNING REPORTS: Results from Build-A-Bear Workshop and Petco will be available before the market opens.

After the bell, Box, Five Below, La-Z-Boy, Okta, Salesforce and Victoria’s Secret will inform investors of their earnings.

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