Here’s what we’re watching ahead of the opening bell on Tuesday.
- U.S. equity futures wavered, suggesting indices would hover near record highs as investors waited for inflation and earnings data from the nation’s biggest banks.
- Futures contracts linked to the S&P 500 were relatively stable after the broad index hit its 39th year-end all-time high. Dow Jones Industrial Average futures weakened 0.1%, while Nasdaq-100 futures rose 0.3%.
What is coming
- U.S. inflation data for June is scheduled for 8:30 a.m. ET. Economists are forecasting a 5% increase in the consumer price index from a year ago.
- Income is owed by Score Media & Gaming SCR -5.30%
and Kura Sushi USA KRUS -0.75%
Market movements to watch
Galactic Virgo SPCE -17.30%
continued its fall to earth, with its shares losing more than 5% in pre-market trading after Monday’s 17% drop. The company said it would sell up to $ 500 million in shares in a new share sale, a day after founder Richard Branson returned safe and sound from a historic journey to the edge of the space.
Goldman Sachs GS 2.35%
rose 0.5% after posting earnings per share that exceeded previous estimates, although both revenue and profits declined from the previous quarter.
JPMorgan Chase JPM 1.43%
fell 1.5% after its quarterly results showed its profit more than doubled, but its revenue fell.
Conagra Marques CAG -0.53%
fell 3.2% after reporting lower sales and lowering earnings expectations next year, saying he expects inflation to boost his bottom line.
PepsiCo PEP 0.02%
stocks added sparkle, rising 1.5% pre-market after the food and beverage giant announced earnings and lifted its full-year guidance.
Tesla TSLA 4.38%
edged up 1% in pre-market trade, up for the fourth day in a row. CEO Elon Musk was in court on Monday to defend the purchase of SolarCity. He also said he didn’t like running the automaker.
- Boeing fell 2.3%. The aircraft manufacturer faces production issues for the 787 Dreamliner, which is likely further delaying deliveries of popular widebody jets.
- Some Chinese companies listed in the US are recovering recent losses, with search engine Baidu BIDU -0.53%
adding 2.2%, e-commerce company JD.com JD -0.53%
up 1.5% and video sharing company Bilibili BILI 0.22%
up 3.2%. Beijing said last week it was probing the data practices of tech companies, causing a drop. But some of those concerns may have eased after China’s leading market watchdog approved Tencent.‘s
plan to privatize the search engine affiliate Sogou.
- Shares of US-listed Swedish telecommunications company Ericsson are up 3.5% before the bell. Moody’s rating agency has published a review of the company’s rating.
- Meme AMC Entertainment’s stock slid 3.8% before market. It has lost almost 25% of its value this month so far.
- The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all hit closing records on Monday – and in the case of the S&P 500, it was the 39th closing record this year, breaking the 27 Dow records and the 24 of the Nasdaq. ahead of the others in terms of earnings this year as well, with an increase of almost 17%.
- European stocks rose as well, with the Stoxx Europe 600 index and the German DAX index hitting record highs on Monday.
- On that day in 1852, Wells, Fargo opened in San Francisco and Sacramento. It was founded by Henry Wells and William G. Fargo to convert gold dust into cash for miners, transport and save letters, gold nuggets and other valuable byproducts of the rush. Californian gold.
Card of the day
- Global coffee prices soar and threaten to drive up costs at the breakfast table as the world’s largest coffee producer Brazil faces one of its worst droughts in nearly a century .
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