Investors should be aware of the following five essential points before beginning the trading day:
1. The rotation of markets On Thursday, stocks dropped once more as investors kept selling megacap tech plays. The S&P 500 fell 0.78%, the technology-heavy Nasdaq Composite down 0.70%, and the Dow Jones Industrial Average fell 533.06 points, or 1.29%.
2. A significant worldwide outage Businesses around the world were coping with a big IT outage that was still going strong on Friday morning due to a problem with the most recent software upgrade from cybersecurity giant CrowdStrike. Banks and financial services were affected, and planes were forced to land.
3. Ta-dum When Netflix revealed its second-quarter profits after the bell on Thursday, it exceeded analyst expectations. In addition to adding more users from around the world, the streaming behemoth reported that its ad-supported subscriptions increased by 34% in the quarter over the same time previous year.
4. Prime moment Internet purchasing set a new milestone thanks to Amazon Prime Day. American shoppers made $14.2 billion in online transactions, an 11% rise from the previous year.
5. Government Democratic megadonors are applying pressure on President Joe Biden to withdraw from the 2024 contest by utilising their influence with legislative leaders. Concerns that Biden might lose the Senate majority and any chance the Democratic Party has of winning back the House majority, in addition to losing the White House, are what put pressure on Biden.
Source (CNBC)
