Here are the most important news investors need to start their trading day:
1. Dow underperforms midweek at Fed
Stock futures edged higher Monday morning, heading into a week full of potential catalysts.this Dow Jones Industrial Average They barely rose on Friday and capped a 10-day winning streak, the longest stretch since 2017. The Fed will play a big role in whether this streak can continue. The central bank is expected to raise interest rates on Wednesday after a meeting to pause to curb stubborn price rises. The Fed’s favorite inflation gauge, the personal consumption expenditures index, is also due on Friday. A surge in second-quarter earnings in the technology, transportation, restaurant and media sectors will also boost stocks this week. Follow live market updates here.
2. Profit Avalanche
A series of corporate earnings reports this week will provide an overview of second-quarter performance across a range of industries. As of Friday, 18 percent of S&P 500 companies had reported earnings, and earnings for the quarter were down 7.9 percent from a year earlier, but beat Wall Street estimates by 7.4 percent. The big tech stocks that have driven this year’s stock market success will dominate this week, reports from Alphabet, Microsoft, Meta and Intel say. McDonald’s, Coca-Cola and Chipotle will comment on how consumers spend their money on food and beverages amid ongoing inflation. General Motors, Ford and Boeing will offer a glimpse into the health of the transportation industry. Here are the key reports for the week:
3. This Barbie is a box office hit
4. Goodbye bird, hello X
Elon Musk Once again, Twitter has been completely overhauled.people who go Twitter.com Instead of the platform’s iconic blue bird, the first thing seen on Monday was a capital “X.” Since leading the $44 billion acquisition of the social media company last year, Musk has laid off staff and changed the way Twitter polices content. The “X” stands for “the imperfections in all of us that make us unique,” he tweeted Sunday. The change comes as Twitter faces the threat of Meta Threads. Earlier this month, Twitter’s rival tapped Instagram’s massive user base to attract more than 100 million registered users. Meta’s goal now is to improve the platform and boost low engagement for a product that Twitter soon found to be a threat to its future.
5. Corresponding labor negotiations
Key labor negotiations are underway across the transportation industry, underscoring the power some workers have gained during the coronavirus pandemic and its aftermath. American airlines On Friday, it increased its contract offer to pilots by more than $1 billion, bringing it in line with the wages and benefits included in the two sides’ initial agreement. united airlines and its pilot last week. Meanwhile, the United Auto Workers union and the largest U.S. automaker are holding key labor talks ahead of a Sept. 14 deadline. Those talks are likely to be affected by the fact that electric vehicle battery factories, which are critical to the industry’s future, are not part of the agreement. ups The issue is also gaining in importance as the July 31 deadline for companies and their employees to agree new contracts approaches. The workers authorized the strike as they sought better pay and working conditions at a company that has shipped more packages since the outbreak.
– CNBC’s Tanaya Macheel, Robert Hum, Sarah Whitten, Leslie Josephs and Michael Wayland contributed to this report.
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