To begin their trading day, investors should be aware of the following key news items:
1. A fearful Friday saw more stock market selloffs as worries about a possible recession were stoked by July’s jobs report, which came in lower than anticipated. To end the trading day at 5,346.56, the S&P 500 had a 1.84% loss. The tech-heavy index dropped more than 10% from its all-time high as the Nasdaq Composite finished at 16,776.16 after falling 2.43%.
2. Midway in Earnings season is in its second half, and there are a lot more names to keep an eye on. More than 70 S&P 500 businesses, including Disney and Eli Lilly, are set to release their quarterly results this week alone.
3. Do not hold me accountable The thousands of cancelled flights that Delta experienced last month are not CrowdStrike’s fault, the company says. Delta Air Lines was the only airline to cancel more than 5,000 flights between July 19 and July 25.
4. Cutting an Apple A little over half of Berkshire Hathaway, owned by Warren Buffett, has been sold off. The conglomerate revealed in a financial report that, as of the end of the second quarter, the value of its stake in Apple was $84.2 billion.
5. Under examination A political action committee supported by Elon Musk is the subject of an investigation by Michigan’s secretary of state’s office. People who live in Michigan and other battleground states have been providing extensive voter information to the America PAC.
Source (CNBC)
