Tag: Opens

Categories
Health

5 issues to know earlier than the inventory market opens Wednesday, Might 19

5 things to know before the stock market opens Wednesday, May 19

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stock futures plunge as tech names slide and Bitcoin plummets

Traders work on the trading floor of the New York Stock Exchange.

NYSE

2. Bitcoin drops below $ 40,000 for the first time in 14 weeks. Tesla falls

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

Bitcoin fell below $ 40,000 for the first time in 14 weeks on Wednesday. In fact, the world’s largest cryptocurrency hit a morning low of under $ 35,000 per unit, down over 46% from last month’s all-time high of near $ 65,000. However, Bitcoin is still up about 40% since the start of the year and more than 300% in the past 12 months.

Elon Musk, the CEO of Tesla.

Christophe Gateau / Image Alliance via Getty Images

Tesla’s shares, which invested corporate money in Bitcoin, fell around 3% to around $ 561 on the Wednesday before going public. A week ago, Bitcoin fell below $ 50,000 and Tesla shares fell below $ 600 each after CEO Elon Musk suspended purchases of electric vehicles using Bitcoin over concerns about the environmental impact of digital currency mining. Tesla stock hit an all-time high of $ 900 on January 25.

3. Bond yields rise ahead of the minutes of the Fed meeting in April

The 10-year government bond yield was above 1.67% early Wednesday before the minutes of the April Federal Reserve meeting were released. At that meeting, central bankers kept interest rates close to zero and the pace of asset purchases stable. They recognized an increase in economic activity as the US recovered from Covid, but insisted that inflation would be temporary. The 10-year return was over 1.7% on last week’s sell-off, its highest level in more than a month after a 14-month high in March.

4. Target is Lowe’s hit, but stocks are moving in opposite directions

View of reusable bags in the Target store in New York on April 13, 2021.

John Smith | Corbis News | Getty Images

Target, which had already risen nearly 17% in 2021, was poised to add another 3% after the retailer posted better-than-expected earnings of $ 3.69 per share on a 23% jump in sales to 24.2 Billion in the first quarter. Target benefited from a re-opening economy and buyers who had additional money due to government economic reviews. The company sees modest growth for the remainder of the year.

A shopper departs after visiting a Lowe hardware store in Philadelphia, Pennsylvania on November 4, 2020.

Mark Makela | Reuters

Lowe’s shares, which rose 20% this year, should fall more than 2% when it opened on Wednesday, despite an unexpectedly strong gain of $ 3.21 per share on a nearly 24% jump in sales to 24.4 Billion USD in the first quarter. Concerns crept in on challenges in the real estate market, including labor shortages and rising lumber prices.

5. New York AG opens a criminal robe of the Trump Organization

President-elect Donald Trump takes the elevator to the lobby after meeting at Trump Tower in New York City on January 16, 2017.

Dominick Reuter | AFP | Getty Images

The office of the Attorney General of New York, Letitia James, which is already conducting a civil investigation into the company of former President Donald Trump, is now also investigating the Trump organization “in a criminal capacity,” its spokesman said on Tuesday evening. James’ spokesman implied that the AG’s investigation into the ongoing criminal investigation against Trump and the Trump Organization is being conducted by the Manhattan District Attorney’s office, Cyrus Vance Jr.

– Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

Categories
Health

5 issues to know earlier than the inventory market opens Tuesday, Could 18

5 things to know before the stock market opens Tuesday, May 18

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Dow futures popping on Walmart, Home Depot strength

Traders on the floor of the New York Stock Exchange.

Source: NYSE

2. Three major retailers outperformed earnings expectations for the first quarter

Shoppers wear masks while shopping at a Walmart store in Bradford, Pennsylvania on July 20, 2020.

Brendan McDermid | Reuters

Walmart’s earnings in the first quarter rose above estimates due to past grocery sales and e-commerce growth. The retailer said more shoppers went to its stores and website to do stimulus checks and prepare to reconnect when Covid cases drop and vaccination rates go up. Earnings per share were $ 1.69. Revenue grew nearly 3% to $ 138.31 billion. Walmart raised its outlook for the year.

A customer wearing a protective mask loads wood onto a cart at a Home Depot store in Pleasanton, California on Monday, February 22, 2021.

David Paul Morris | Bloomberg | Getty Images

Home Depot beat first quarter earnings and sales expectations as consumers swirled around their homes for more than a year after the pandemic. Net sales increased nearly 33% to $ 37.5 billion. Earnings per share were $ 3.86. Home Depot has not published an outlook for the 2021 financial year.

A man buys clothes in Macy’s department store in Herald Square in New York.

Trevor Collens | AFP | Getty Images

Macy’s shares rose around 5% in the pre-market on Tuesday, shortly after the department store chain reported a surprising profit in the first quarter as stimulus checks and vaccine rollouts gave consumers more money and more confidence to return to the mall and freshen up their wardrobes. Better-than-expected first quarter revenue increased 56% to $ 4.71 billion. Macy’s has also raised its financial outlook for the full year.

3. Amazon is reportedly in talks to buy MGM Studios for up to $ 9 billion

Daniel Craig plays James Bond in “No Time To Die”.

Source: MGM

According to several media reports, Amazon is in talks to buy Metro Goldwyn Mayer Studios worth up to $ 9 billion. MGM’s film and TV treasury includes the franchises James Bond and Rocky, as well as “The Handmaid’s Tale” and “Fargo”. These conversations, first reported by The Information, emerged after AT&T agreed to break out of its WarnerMedia film and television unit as part of a merger with Discovery.

4. Warren Buffett’s Berkshire Hathaway builds new Aon stake and strengthens Kroger

Warren Buffett at the Berkshire Hathaway Annual Meeting in Los Angeles, California. May 1, 2021.

Gerard Miller | CNBC

Warren Buffett’s Berkshire Hathaway made several changes to its stock portfolio last quarter, including adding a new bet on UK insurance company Aon and increasing its stake in grocery store owner Kroger. Berkshire also added its relatively new Verizon position and reduced its stake in Chevron, another new bet. Apple remained the largest single holding in Berkshire’s stock portfolio.

5. Michael Burry of ‘The Big Short’ reveals a bet against Tesla

Michael Burry attends the New York premiere of “The Big Short” on November 23, 2015 at the Ziegfeld Theater in New York City.

Jim Spellman | WireImage | Getty Images

Investor Michael Burry announced a short position on Tesla worth more than half a billion dollars in a filing for approval on Monday. Burry, whose company is Scion Asset Management, became famous for betting against mortgage securities prior to the 2008 financial crisis. Burry was featured in Michael Lewis’ book “The Big Short” and the subsequent Oscar winner of the same name. Tesla stock had a tumultuous 2021, down 18% at close of trading on Monday, and down nearly 36% from its all-time high of $ 900 on Jan. 25.

– Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

Categories
Business

5 issues to know earlier than the inventory market opens Monday, Could 17

5 things to know before the stock market opens Monday, May 17

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. The stock jump in the late week gushes on Monday before the market

People walk past the New York Stock Exchange on Wall Street on May 10, 2021 in New York City.

Angela Weiss | AFP | Getty Images

US stock futures fell on Monday after Friday’s strong rally. However, Friday’s gains of more than 1% for the Dow Jones Industrial Average and S&P 500 and over 2% for the Nasdaq were not enough to offset the sharp declines early last week. The Dow and S&P 500 both saw more than 1% weekly declines, while the Nasdaq fell over 2% on its worst weekly performances since February. The roller coaster ride on inflation concerns hit stocks early last week. The Dow was down 3.4%, the S&P 500 was down 4% and the Nasdaq was down 5%. All three stock benchmarks made up some of those Thursday and Friday losses.

2. 10-year return below 1.7% even if inflation subsides

Bond yields were mostly lower on Monday after 10-year government bond yields rose to over 1.7% on Wednesday during last week’s worst stock sale. This was the highest 10-year return level in more than a month after a 14-month high in March. Fears of inflation and whether the Federal Reserve will be able to keep the promised line with interest rates close to 0% and massive asset purchases rocked the markets. On Wednesday, the government reported that consumer prices accelerated at their fastest pace in more than 12 years in April as the US economic recovery kicked off. The Fed released minutes of its April meeting on Wednesday.

3. AT&T agrees to merge WarnerMedia with Discovery

John Stankey, President & Chief Operating Officer of AT&T and Chief Executive Officer of WarnerMedia, speaks on stage at the HBO Max WarnerMedia Investor Day presentation at Warner Bros. Studios on October 29, 2019 in Burbank, California.

Presley Ann | Getty Images Entertainment | Getty Images

AT&T on Monday announced a deal to combine its WarnerMedia movie and media content division with Discovery, which will pave the way for one of Hollywood’s biggest power players to better compete with streaming media giants like Netflix and Disney. AT & T’s shares were up 4% and Discovery was up 10%. AT&T shareholders would own 71% of the new company. Discovery shareholders would own 29%. The transaction would assemble properties like CNN, HBO and Warner Bros. from WarnerMedia, as well as the HGTV, TLC and History channels from Discovery. In 2018, AT&T acquired Time Warner, since then renamed WarnerMedia, for an equity value of $ 85 billion.

4. Elon Musk clarifies that Tesla did not sell Bitcoin.

Elon Musk, CEO of Tesla, stated in a tweet early Monday that the electric vehicle maker “did not sell Bitcoin”.

Bitcoin partially rebounded on Monday, trading above $ 45,000 per unit. The price of the world’s largest cryptocurrency fell below that level on Sunday after Musk apparently hinted on a Twitter exchange that Tesla might or might not sell the rest of its Bitcoin holdings. He “actually” replied to a sympathetic tweet.

All of this happened days after Musk said Tesla planned to hold onto its Bitcoin even though it stopped using it to buy electric cars until Bitcoin mining can become more energetically sustainable.

5. CDC Director Defends New Mask Policy; Businesses go their own way

People enjoying the sunshine on the steps of the MET in New York City as the CDC lifts restrictions on wearing masks for those who are fully vaccinated.

Adam Jeffery | CNBC

CDC director Dr. Rochelle Walensky urged people to be honest and only drop their Covid masks if they are fully vaccinated. The sudden change in CDC guidelines over the past week has left some people confused as it is not overriding local mask regulations. Local governments and businesses are grappling with the question of whether to follow the CDC’s new guidelines. Starbucks said, “Facials will be optional for vaccinated customers starting Monday, May 17, unless local regulations require it by law.” Walmart and Costco led the way on Friday.

– Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

Categories
Health

5 issues to know earlier than the inventory market opens Friday, Could 7

5 things to know before the stock market opens Friday, May 7

Here are the top news, trends, and analysis investors need to get their trading day started:

1. Dow futures fell on poor jobs report

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Dow futures turned negative and 10-year government bond yields briefly fell below 1.5% after the government’s April employment report fell well below estimates. The economy hired only 266,000 non-agricultural workers last month, the Labor Department said on Friday morning. It is estimated that 1 million new additions were required. The Nasdaq, which recently moved in the opposite direction from bond yields, should open significantly higher.

The Dow Jones Industrial Average rose nearly 1% on Thursday to another record high. A similar rise in the S&P 500 resulted in the index falling within 10 points of last month’s record close. The Nasdaq rose 0.4%, breaking a four-session loss but still more than 3.5% from the record close of April. Ahead of Friday’s Wall Street opening, the tech-heavy Nasdaq fell over 2.3% for the week. The Dow and S&P 500 rose nearly 2% and nearly 0.5%, respectively, over the week.

Pfizer’s shares were unchanged, while BioNTech rose 5% on the Friday before entering the market after the two companies announced they would file for full approval of their Covid vaccine in the United States. Full approval would allow companies to market the two-shot regimen directly to consumers. The FDA granted emergency approval status in late December.

April 2nd jobs really win the mark

Server Adrian Almanza brings appetizers to a table at the Satay Thai Bistro and Bar in Las Vegas, Nevada, March 28, 2021.

Bridget Bennett | Reuters

The hiring of staff in April was a huge disappointment. The number of non-farm workers rose much less than expected and the country’s unemployment rate rose to 6.1% as business reopenings struggled with an escalating shortage of available labor. The originally estimated 916,000 new jobs in March have been revised significantly to 770,000, despite a sharp upward revision to 536,000 in February.

Investors are watching these employment numbers closely as the Federal Reserve has pledged to maintain its extraordinarily simple monetary policy, including near zero interest rates, until the job market heals and inflation picks up. However, many traders believe that inflation will quickly become a problem and the Fed may need to rethink its highly accommodative stance and make adjustments earlier than forecast.

3. The Fed warns of possible “significant declines” in asset prices

The Federal Reserve building can be seen in Washington, DC on March 19, 2021.

Daniel Slim | AFP | Getty Images

Rising asset prices in stock markets and elsewhere pose a growing threat to the financial system, the Fed warned. In its semi-annual financial stability report, the central bank said the danger lurks on Thursday should market sentiment change. “High asset prices reflect in part the persistently low levels of government bond yields. However, valuations of some assets are elevated from historical norms even when measures are applied that take government bond yields into account,” the report warns. “In this environment, asset prices may be vulnerable to significant declines should appetite decline.”

4. India reports more than 400,000 new daily cases for the third time in a week

Health care workers and health care workers transport a woman out of an ambulance for treatment at a COVID-19 care facility amid the spread of coronavirus disease (COVID-19) in Mumbai, India on May 4, 2021.

Niharika Kulkarni | Reuters

Daily India has seen new cases of Covid in India for the third time this month as the South Asian country battled a devastating second wave. Health ministry data released on Friday showed 414,188 new Covid infections over a 24-hour period, in which at least 3,915 died from the disease. However, reports of overwhelmed crematoriums and cemeteries, as well as a growing number of obituaries in newspapers, suggest that the official numbers underestimate the real death toll. Many places have tightened covid containment measures despite the Indian government resisting a national lockdown.

5. Peloton hits $ 165 million as a result of a recall of its treadmills

A monitor displays the signage of Peloton Interactive Inc. during the company’s IPO across the Nasdaq MarketSite in New York, the United States, on Thursday, September 26, 2019.

Michael Nagle | Bloomberg | Getty Images

Peloton anticipates fiscal fourth quarter revenue to decrease $ 165 million due to a recall of its treadmills. Peloton’s shares fell nearly 15% on Wednesday after the company announced a voluntary recall after a child died and dozens were injured in accidents involving the Tread + machine. The stock rose 1.4% on Thursday.

Shares rose nearly 7% on the Friday before going public, the morning after the fitness equipment company reported third-quarter sales up 141% to a better-than-expected $ 1.26 billion. Demand for cycles, which make up most of the business, remained strong. Peloton’s adjusted loss per share of 3 cents for the third quarter of fiscal year was well below estimates.

– Follow all market action like a pro on CNBC Pro. Get the latest information on the pandemic with CNBC’s coronavirus coverage.

Categories
Politics

FBI opens civil rights probe into police taking pictures

FBI opens civil rights probe into police shooting

Protesters march the evening after family members were shown body camera footage of an assistant sheriff who shot and killed black suspect Andrew Brown Jr. on April 26, 2021 in Elizabeth City, North Carolina.

Jonathan Drake | Reuters

The Federal Bureau of Investigation confirmed Tuesday that it will investigate the murder of Andrew Brown Jr., a black man who died after police shot him while being arrested in North Carolina last week.

The announcement comes a day after Brown’s family lawyers, who were shown a 20-second video of his arrest, said the 42-year-old was shot in the back of the head while his hands were on the wheel.

According to an autopsy performed at his family’s request, Brown was shot a total of five times, including four times in the right arm.

Brown was killed by Elizabeth City Sheriff’s MPs while trying to serve drug-related search and arrest warrants. Seven of the MPs involved in the arrest have been given paid leave, the Pasquotank County Sheriff’s Office said.

“The FBI Charlotte Field Office has opened a federal civil rights investigation into the police death of Andrew Brown Jr.,” an FBI spokesman said. “The agents will work closely with the US Attorney’s Office for the Eastern District of North Carolina and the Department of Justice’s Civil Rights Division to determine if federal law has been violated.”

The spokesman declined to comment further, saying the investigation was still ongoing.

Brown was killed Wednesday, the day after a jury found former Minneapolis police officer Derek Chauvin guilty of murdering George Floyd.

Floyd’s death in custody reinvigorated the movement against police brutality against blacks. The Justice Department is conducting a civil rights investigation into Floyd’s murder, in addition to a sample or exercise investigation of the Minneapolis Police Department.

Attorney General Merrick Garland announced on Wednesday an investigation into the pattern or practice. On Monday, Garland said the DOJ would conduct a similar investigation by the Louisville Metro Police Department in Kentucky, which was criticized for the death of Breonna Taylor. Taylor was killed in her apartment last year after police entered with an arrest warrant and fired 32 bullets.

Attorneys for Brown’s family have condemned his murder and called for more footage to be released. Authorities have stated that they have asked a judge to allow the video to be published.

Based on what they’ve seen, Brown’s family has said that the police seem lacking a justification for using lethal force.

“There was no time in the 20 seconds we saw him threaten officers in any way,” Chantel Cherry-Lassiter, a lawyer, told a press conference after watching the video, Associated Press reported.

Khalil Ferebee, Brown’s son, told reporters after watching the video that his father was “executed” while trying to save his own life.

Pasquotank County Sheriff Tommy Wooten has asked for patience while the investigation continues.

“This tragic incident was quick and over in less than 30 seconds, and body cameras are shaky and sometimes difficult to read,” Wooten said Monday, according to NBC News.

It’s not clear how long the FBI’s investigation into Brown’s death will continue. William Barr, the attorney general under former President Donald Trump, announced the civil rights investigation into Floyd’s assassination in May 2020. Garland said the investigation was still ongoing last week but did not provide any further updates.

The civil rights investigation into Brown and Floyd’s murders will investigate whether federal law was violated during these particular arrests. In contrast, sample or practice examinations examine whether police authorities routinely violate civil rights laws.

Under Trump, sample or exercise exams have been largely curtailed, although Garland has shown some willingness to revise them.

While the Congressional Research Service found that the Justice Department has opened three such investigations per year in the past, Garland opened two this month. The research service found that around a third of sample or practical studies lead to significant reforms.

In addition to the FBI investigation, the North Carolina State Bureau of Investigation is also investigating Brown’s murder.

Subscribe to CNBC Pro for the TV livestream, deep insights and analytics.

Categories
Business

5 issues to know earlier than the inventory market opens Friday, April 30

5 things to know before the stock market opens Friday, April 30

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks falling, big tech and big oil gains in focus

Traders working on the New York Stock Exchange (NYSE) today, Wednesday, April 21, 2021.

Source: NYSE

US stock futures fell Friday, despite the fact that Amazon stocks rose 2% in the pre-market a day after the e-commerce and cloud giant reported quarterly blowout results. The government’s release of personal income data at 8:30 a.m. ET in March is also on investor radar. The last round of Covid stimulus checks is likely to have increased income by 20% last month.

The S&P 500 rose 0.7% on Thursday to close on a record high. The Dow Jones Industrial Average saw similar gains but remained slightly below its record high earlier this month. The Nasdaq lagged behind with a plus of 0.2% and also just ended the record on Monday. With one day left in April, the Nasdaq and S&P 500 rose more than 6% for the month. The Dow’s monthly profit was just over half.

2. Amazon’s results dazzle when Twitter’s business falters

Jeff Bezos, CEO of Amazon

Alex Wong | Getty Images

Late Thursday, Amazon reported record earnings for the fourth straight quarter with earnings of $ 15.79 per share. Revenue of $ 108.52 billion for the first quarter also beat forecasts. The company showed strength in all business areas. Amazon also said it doesn’t expect the Covid-triggered boom in online shopping to wear off once the pandemic recedes.

Jack Dorsey, CEO of Twitter, testifies during a video hearing held by subcommittees of the US House of Representatives’ Energy and Trade Committee on “The Role of Social Media in Promoting Extremism and Misinformation” on March 25, 2021 in Washington .

CNBC

Twitter warned of soaring costs and a possible slowdown in user growth late Thursday, sending stocks in premarket trading down more than 12%. The social media network beat estimates, however, with adjusted earnings per share of 16 cents in the first quarter. Revenue of $ 1.04 billion and monetizable daily active users of 199 million were largely in line with analysts’ forecasts.

3. According to the EU, the Apple App Store violates competition rules

CEO Tim Cook speaks at an Apple event at corporate headquarters in Cupertino, California on September 10, 2019.

Stephen Lam | Reuters

Apple shares fell 1% in premarket trading after the European Commission announced on Friday that the US tech giant had “abused its dominant position in the distribution of streaming music apps through its app store.” The European Commission, the EU’s executive branch, launched an antitrust investigation into the App Store last year after the music streaming platform Spotify complained about Apple’s licensing agreements in 2019. Apple was not immediately available to respond to CNBC’s request for comment.

4. Chevron profit decline; Exxon swings to profit

A sign stands outside a Chevron gas station on July 31, 2020 in Novato, California.

Justin Sullivan | Getty Images

Dow’s Chevron fell about 2.5% in the pre-market on Friday, shortly after the US oil major reported an adjusted earnings per share decline of over 30% to 90 cents in the first quarter. The decline was in line with estimates, but sales of $ 32.03 billion exceeded expectations. Chevron’s earnings declined due to lost production in winter storms, weaker margins, and the lack of assets and tax items that benefited last year’s profit.

A pigeon flies over an Exxon Mobil gas station in Gutenberg, New Jersey on October 25, 2018.

I have Betancur | Corbis News | Getty Images

Energy rival Exxon posted its first $ 2.7 billion profit in five quarters on Friday as higher oil and gas prices offset the cost of a February freeze. The adjusted earnings per share of 65 cents in the first quarter exceeded the estimates and the previous year’s period of 53 cents. Revenue of $ 59.15 billion also exceeded forecasts. The stocks in the pre-market were stable.

5. Disneyland reopens after unprecedented 13 months of closure

Visitors walk between plexiglass as they step on Touch of Disney at Disney California Adventure in Anaheim, California on Thursday, March 18, 2021.

MediaNews Group / Orange County Register | Getty Images

Disneyland, California, will reopen on Friday after an unprecedented 13-month closure. The hope of tourism officials is a sign of the state’s recovery from the pandemic. Currently, the park only allows in-state visitors who have limited capacity. Comcast’s own Universal Studios Hollywood reopened two weeks ago. In Florida, a state with fewer virus restrictions, Universal Orlando and Disney World reopened with limited capacity in June and July.

– Disclosure: Comcast owns NBCUniversal, the parent company of CNBC. Reuters and The Associated Press contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

Categories
Business

5 issues to know earlier than the inventory market opens Thursday, April 29

5 things to know before the stock market opens Thursday, April 29

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks are expected to rise after strong big tech gains

Trader on the New York Stock Exchange

Source: NYSE

Wall Street is expected to open higher Thursday, with Nasdaq futures particularly strong after robust gains from Apple and Facebook pushed these stocks up significantly in the pre-market. Three Dow stocks – McDonald’s, Merck, and Caterpillar – posted gains before the bell. The government will release its first quarterly gross domestic product and weekly unemployment claims lookup Thursday morning.

These economic data points come a day after the Federal Reserve held the line for interest rates near zero and asset purchases. Central bankers also reassured the markets that despite a consolidating economy and rising inflation, monetary policy would remain stable for some time. The Dow Jones Industrial Average, S&P 500 and Nasdaq all fell on Wednesday. With two days left in April, all three stock benchmarks were solidly in the green for the month.

2. The most recent data on unemployment claims in GDP are stronger

Economists expect the US economy, as measured by GDP, to have grown at an annual rate of 6.5% in the first quarter, compared with 4.3% in the fourth quarter of 2020. The report is released one hour earlier at 8:30 am CET publishes the opening bell. The first report on unemployment claims for the past week will also be released at 8:30 am. It is expected to display a total of 528,000, down from 19,000. This would maintain a two-week streak of fewer than 600,000 new claims since the 256,000 reported for the week ended March 14, 2020.

3. Three Dow stocks reported mixed quarterly results

People wear protective face masks in front of McDonald’s in Times Square as the city resumes Phase 4 reopening after restrictions were imposed in New York City on September 18, 2020 to slow the spread of the coronavirus.

Noam Galai | Getty Images

McDonald’s was 11 cents ahead of consensus with adjusted quarterly earnings of $ 1.92 per share. Revenue was also above forecast, boosted by a better-than-expected increase in U.S. revenue in the same business by 13.6%. Shares fell slightly in the pre-market.

The Merck logo can be seen on a gate to the Merck & Co campus in Rahway, New Jersey, USA on July 12, 2018.

Brendan McDermid | Reuters

A pandemic-related decrease in doctor visits was one of the main reasons for Merck’s profit decline in the first quarter. Merck missed 23 cents with adjusted quarterly earnings of $ 1.40 per share. The shares were listed at 1.8% before the IPO.

Caterpillar Inc. excavators will go on sale Monday, January 27, 2020 at the Whayne Supply Co. dealer in Louisville, Kentucky, USA. Caterpillar is expected to release earnings numbers on January 31st.

Bloomberg | Bloomberg | Getty Images

Caterpillar stock rose 1.6% in premarket trading after the heavy equipment maker beat estimates by nearly a dollar of adjusted quarterly earnings of $ 2.87 per share. Sales were also ahead of forecast as an economic recovery fueled demand for equipment.

4. Apple, Facebook shares rise after strong gains

Tech profits continue to roll as Amazon and Twitter top the bell list Thursday, a day after Apple and Facebook topped quarterly earnings and sales expectations. Apple also said it would increase its dividend by 7% while approving $ 90 billion in share buybacks. Facebook attributed its strong revenue growth to a 30% increase in the average price per ad and a 12% increase in the number of ads displayed. On the pre-market, Facebook shares rose 7% and Apple shares rose 3%.

5. Bidens Says America’s Democracy Is “Rising Again”

President Joe Biden speaks prior to a joint congressional session in the U.S. Capitol Chamber in Washington, United States on April 28, 2021.

Melina Mara | Reuters

President Joe Biden brings his political agenda to Georgia on Thursday, his 100th day in office. In his first address to a joint congressional session on Wednesday evening, Biden declared that “America is rising again” and unveiled a $ 1.8 trillion proposal to invest in children, families and education. This is also the already announced massive expenditure proposal to update the national infrastructure. Biden stressed that these efforts will create more jobs and increase the wealth of all Americans.

– CNBC’s Peter Schacknow and The Associated Press contributed to this report. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

Categories
Health

5 issues to know earlier than the inventory market opens Friday, April 23

5 things to know before the stock market opens Friday, April 23

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Stocks expected to bounce back after Biden capital gains hit Wall Street

Trader on the New York Stock Exchange.

Source: NYSEa

2. Bitcoin and other cryptos are sinking, saving US $ 200 billion from the world market

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

Bitcoin and other cryptocurrencies plummeted Friday as concerns over Biden’s raising U.S. capital gains taxes on the rich sparked a sell-off. Bitcoin, which hit an all-time high of $ 65,000 on April 14, fell 6.5% to below $ 50,000. That’s a 23% drop in just over a week. The crypto market value, half of which is Bitcoin, fell $ 200 billion in one day. Bitcoin fell below $ 1 trillion when the global crypto universe slipped below $ 2 trillion, according to price tracking website CoinMarketCap.

3. Intel shares fall as sales, earnings slightly year over year

Pat Gelsinger, CEO of Intel, speaks in a photo taken as CEO of VMware on March 9, 2017 in Santa Monica, California.

Patrick T. Fallon | Bloomberg | Getty Images

Intel posted essentially flat first-quarter sales and a decline in earnings in its first earnings report late Thursday under new CEO Pat Gelsinger. Dow shares were down more than 2% in premarket trading, despite Intel’s earnings and sales per share beating estimates. Gelsinger, who took over the company in February, announced a plan earlier this month to invest $ 20 billion in new microchip manufacturing facilities. The Dow components American Express and Honeywell delivered quarterly results on Friday morning. Amex beat slightly in profit but missed out on sales. The shares fell nearly 4%. Honeywell hit on both, though its stock was also lower.

4. The CDC is considering two more cases while the advisory panel on the paused J&J vaccine meets

Johnson & Johnson’s Janssen COVID-19 vaccine will be stored in Chicago, Illinois for use with United Airlines employees at the United Clinic at O’Hare International Airport on March 9, 2021.

Scott Olson | Getty Images

The CDC Vaccination Advisory Board will meet on Friday to clarify whether to lift the hiatus on Johnson & Johnson’s one-shot Covid vaccine. In addition to six women who had rare but severe blood clotting problems after receiving the vaccine, the CDC is investigating two other possible cases: a deceased woman from Oregon and a hospitalized woman from Texas. Of the original six, one died and one became seriously ill. According to CDC data, over 8 million people in the US have received the J&J vaccine

5. SpaceX launches its third crew in less than a year and flies a reused rocket

A SpaceX Falcon 9 rocket carrying the astronauts from the Crew 2 mission will launch on April 23, 2021 at the Kennedy Space Center in Florida from Launch Complex 39A.

Gregg Newton | AFP | Getty Images

SpaceX launched four astronauts from NASA’s Kennedy Space Center in Florida on Friday morning using a recycled rocket and capsule. It is the third crewed flight in less than a year for Elon Musk’s privately owned space company. The astronauts from the US, Japan and France were scheduled to arrive at the International Space Station early Saturday after a 23-hour journey in the same capsule used by the SpaceX debut crew last May.

– Reuters and The Associated Press contributed to this story. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.

Categories
Health

5 issues to know earlier than the inventory market opens Tuesday, April 20

5 things to know before the stock market opens Thursday, April 15

Here are the top news, trends, and analysis investors need to get their trading day started:

1. Stocks fall after Dow, S&P 500 falls from record close

Traders on the floor of the New York Stock Exchange.

Source: NYSE

US stock futures fell Tuesday as investors factor in quarterly results of four Dow components and look forward to Netflix gains and an afternoon Apple product event. Apple is expected to introduce new iPads, iMacs and AirTags for device tracking. Tobacco supplies came under pressure after the Wall Street Journal reported that the White House could order tobacco companies to lower nicotine levels in all cigarettes.

The Dow Jones Industrial Average started the week after the record close on Friday. The S&P 500 also fell slightly from its previous record close. The Nasdaq lost 1% on Monday after shyly surfacing on Friday after the tech-heavy index’s record close in February. The 10-year government bond yield remained stable early Tuesday after rising above 1.6%. However, it remained below the last month’s high of 14 months.

2. Four Dow stocks are reporting gains, including J&J and IBM

Dow stocks Johnson & Johnson, Procter & Gamble and Travelers reported results before the bell. IBM, also a Dow stock, released quarterly results late Monday.

  • J&J surpassed first quarter earnings and sales estimates, including $ 100 million in sales of its Covid vaccine suspended in the U.S. as health officials investigate rare but serious blood clotting problems. CFO Joseph Welk told CNBC Tuesday that he hoped the “benefit-risk profile” for the company’s vaccine would have an impact. Shares fell in the pre-market.
  • P&G exceeded expectations for earnings and sales in the third quarter of fiscal as consumers maintained Covid buying trends like buying more detergents and starting to buy beauty products again. Shares fell in the pre-market.
  • Travelers reported better than expected results in the first quarter. The receipts were broadly in line with the estimates. The insurance giant increased its dividend and added $ 5 billion to its buyback program. In the pre-market the shares rose by 1%.
  • IBM achieved profits and sales in the first quarter that were above estimates. The enterprise technology and services provider saw revenue growth after four quarters of decline. In the pre-market the shares rose by almost 3%.

3. United Airlines is reporting a quarterly loss for the fifth consecutive year

Travelers arrive in Chicago, Illinois for flights at O’Hare International Airport on March 16, 2021.

Scott Olson | Getty Images

United Airlines shares fell 2.5% on the Tuesday prior to entering the market, the morning after the airline reported an above-expected loss of $ 7.50 per share in the first quarter, the fifth straight quarterly loss. Revenue of $ 3.22 billion was down nearly 60% year over year and fell short of estimates. Higher fuel costs and continued subdued demand due to Covid detracted from results. However, United expects profitability to pick up again later this year as Covid vaccinations surge and governments relax travel restrictions.

4. Elon Musk says the autopilot did not activate in the Tesla crash in Texas

A Tesla logo on a Model S is photographed at a Tesla dealer in New York.

Lucas Jackson | Reuters

Elon Musk denied that Tesla’s automated driving systems were involved in a fatal accident in the suburb of Houston, Spring, Texas on Saturday. The Tesla CEO tweeted on Monday: “Previously restored data logs show that autopilot was not activated.” Local police said no one was in the driver’s seat when the 2019 Tesla Model S turned off the road and went up in flames. The two men in the car died. Two federal agencies, the NHTSA and the NTSB, are working with local police to investigate the accident. Preliminary results are inconclusive.

5. A fortified city in Minneapolis awaits Chauvin’s verdict

Former Minneapolis Police Officer Derek Chauvin participates in the final skirmishes during his trial of second degree murder, third degree murder, and second degree manslaughter in the death of George Floyd with defense attorney Eric Nelson in Minneapolis, Minnesota on April 19, 2021 Still from video.

Pool via Reuters

Categories
Health

5 issues to know earlier than the inventory market opens Friday, April 16

5 things to know before the stock market opens Friday, April 16

Here are the top news, trends, and analysis that investors need to get their trading day started:

1. Dow will rise after closing above 34,000 for the first time

People walk past the New York Stock Exchange in New York City on April 15, 2021.

Spencer Platt | Getty Images

2. Housing construction in March is strong

Contractors install floor joists on the foundation of a home under construction in Lehi, Utah, December 16, 2020.

George Frey | Bloomberg | Getty Images

Thursday’s March retail sales helped raise stocks – and on Friday, investors took a look at the glowing housing market. The Commerce Department said housing starts rose 19.4% in March, beating estimates. Building permits rose 2.7% and fell short of expectations. Privately owned residential completions in March rose 16.6%. Builders have been ramping up construction lately, and new government covid incentives could fuel that trend.

3. The Chinese economy grew 18.3% in Covid in the first quarter

China reported gross domestic product slightly below expectations in the first quarter as industrial production disappointed but retail sales exceeded estimates. The GDP rose in the first three months of the year by 18.3% compared to the previous year, the Chinese statistical office announced on Friday. In the first quarter of last year, the economy contracted 6.8% – during the peak of the domestic Covid outbreak.

4. WHO chief: Covid case rate is approaching the highest level ever

A physical therapist fits an oxygen mask on a patient with coronavirus disease (COVID-19) in the intensive care unit of the Parelheiros Municipal Hospital in Sao Paulo, Brazil, on April 8, 2021.

Amanda Perobelli | Reuters

The head of the World Health Organization said on Friday that an alarming trend of rising Covid cases had caused infections around the world to reach their highest ever level. In the US, weekly cases are well below their all-time highs, but are in line with levels seen during the summer surge. Albert Bourla, CEO of Pfizer, said people will likely need a booster dose of a Covid vaccine within 12 months of being fully vaccinated. Bourla said it is possible that annual vaccinations against the coronavirus will also be necessary.

5. The death of a gunman shoots at least 8 people in the FedEx facility in Indianapolis and kills himself

At least eight people died after a gunman opened fire at a FedEx facility in Indianapolis late Thursday and then killed himself, city police said. FedEx said in a statement: “We are deeply shocked and saddened by the loss of our team members. … We are fully cooperating with law enforcement agencies.” Last week, President Joe Biden announced a series of executive measures aimed at tackling what he calls the national gun violence epidemic. In March alone, 18 people were killed in two mass shootings in the Atlanta and Boulder, Colorado area.

– NBC News contributed to this report. Follow all market action like a pro on CNBC Pro. Get the latest information on the pandemic on CNBC’s coronavirus blog.