5 issues it is best to know earlier than the inventory market opens on Friday July 23rd
Here are the top news, trends, and analysis investors need to start their trading day:
1. Wall Street appears to end the week with a winning streak of four sessions
Traders operate on the floor of the New York Stock Exchange (NYSE) on July 21, 2021.
Brendan McDermid | Reuters
The Dow futures rose more than 150 points on Friday, suggesting a strong end of the week for the Wall Street opening and possibly four positive sessions in a row after Monday’s big slump. The Dow Jones Industrial Average, S&P 500, and Nadsaq all targeted weekly earnings. The Nasdaq was the leader, up nearly 1.8% over the past four days. All three are also less than 1% off their last record closings on July 12th.
Dow American Express was up 2% early on the market after the credit giant reported quarterly earnings and earnings on Friday that are in line with best estimates. Honeywell International, also a Dow share, rose slightly in the premarket after the industrial company beat estimates on Friday with quarterly earnings and earnings. Honeywell has also raised its outlook. After a quarter of earnings season, Wall Street is heading for its best earnings growth in over a decade.
In the bond market, the 10-year government bond yield, which is reversing the price, rose on Friday to around 1.3% after hitting a 5½-month low of nearly 1.13% earlier this week. The purchasing managers’ manufacturing and service indexes for July will be released at 9:45 am ET.
2. Snap, Twitter up as Intel slumps on quarterly results
The Snapchat application on a smartphone arranged in Saint Thomas, Virgin Islands, USA on Friday January 29, 2021.
Gabby Jones | Bloomberg | Getty Images
Tech stocks continued their strength in the premarket on Friday, with Snap shares rising 16% after the social media company surprised analysts with a quarterly profit, earning an adjusted 10 cents a share. Also beat the income. Snap on Thursday reported unexpectedly high daily user metrics and an optimistic sales forecast.
The Twitter logo will be displayed on a smartphone screen on April 14, 2021.
NurPhoto | NurPhoto | Getty Images
Twitter’s shares rose 5% in early trading after the company beat estimates by 13 cents late Thursday with adjusted quarterly earnings of 20 cents per share. Revenue beat forecasts as ad sales increased 87% year over year. Twitter also issued an optimistic revenue forecast for the current quarter.
The Intel logo is shown during the preparations at the CeBit computer fair.
Fabian Bimmer | Reuters
Dow stock Intel fell nearly 2% on Friday, the morning after the company released a forecast that disappointed some investors, saying the global chip shortage could last well into 2023. Intel beat estimates with quarterly earnings of $ 1.28 per share. Also beat the income.
3. The Delta variant is one of the most contagious respiratory diseases of all time
Critical care nurses insert an endotracheal tube into a positive patient with coronavirus disease (COVID-19) in the intensive care unit (ICU) at Sarasota Memorial Hospital in Sarasota, Florida on February 11, 2021.
Shannon Stapleton | Reuters
The Delta Covid variant prevalent in the USA is one of the most contagious respiratory diseases that has ever existed, warned the director of the Centers for Disease Control and Prevention. The variant is highly contagious, mainly because, according to new data, people infected with Delta can carry up to 1,000 times more viruses in their nasal passages than those infected with the original coronavirus strain. The seven-day average of new Covid cases rose about 53%; Hospital stays rose 32% from last week to about 3,500 per day; and deaths rose 19% to more than 200 per day over the same period.
4. The IOC says all possible Covid security measures have been taken
A view of the Tokyo Olympic Rings ahead of the Tokyo 2020 Olympic Games in Japan.
Danny Lawson | PA pictures | Getty Images
With the Tokyo Olympics set to officially start on Friday after a one-year delay, the International Olympic Committee said the organizers have done everything in their power to ensure safe games based on expert recommendations from Covid. The IOC responded to criticism for using “cheap measures” and ignored advice. Reuters reported that 11 athletes have tested positive for the coronavirus since July 2, while Olympic infections, including officials and the media, were above 100. Earlier this week, WHO chief Tedros Adhanom Ghebreyesus said: “The sign of success is to ensure that all cases are identified, isolated, followed up and dealt with as quickly as possible and the referral is interrupted.”
5. NFL warns teams of Covid outbreaks in unvaccinated players
General view of the NFL shield logo on the field prior to Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium.
Kim Klement | USA TODAY Sports | Reuters
The National Football League plans to operate as normally as possible for the upcoming 2021 season and announced to teams that they would lose games and lose money if Covid outbreaks occur due to unvaccinated players. In a memo received from CNBC, the NFL announced to team leaders and head coaches that it has no plans to postpone games due to outbreaks like the 2020 season. Instead, the league wrote that “postponements will only be made if required by government agencies, medical experts or at their discretion,” by NFL commissioner Roger Goodell. The league’s tough stance on postponing games will also protect network partners who have just agreed to a media deal worth more than $ 100 billion.
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