The following news items are the most crucial for investors to know as they begin their trading day:
1. New data for a new week
As the final week of August began on Monday, stock futures were marginally higher. Futures for the Dow Jones Industrial Average were up 83 points, or roughly 0.2%, while those for the S&P 500 and Nasdaq 100 were up 0.2% and 0.3%, respectively. Following Fed Chair Jerome Powell’s address in Jackson Hole, Wyoming, on Friday, the major indexes saw gains, giving stocks a boost after their recent losing session. Powell stated in his speech that the central bank.
2. Expected earnings
The earnings season is coming to an end, with a few lingering issues. Investors are still awaiting results from the final wave of major retailers and a few tech companies even though the majority of corporations have already disclosed their quarterly earnings. The week’s top companies include Salesforce, Broadcom, Best Buy, and Lululemon. The following are the upcoming notable earnings:
Tuesday: HP (after the bell); Best Buy, NIO (before the bell).
On Wednesday, Brown-Forman will speak before the bell, followed by Salesforce, Crowdstrike, and Okta.
On Thursday, Dollar General will open before the bell and Broadcom and Lululemon Athletica will do so after.
3. Taking the stage
The IPO freeze is gone, much to the joy of tech investors. Twenty months have passed since the last significant initial public offering for a venture-backed digital business, prompting many to speculate about which hot new name would be the first to enter the public markets. The solution was finally provided on Friday when analytics and marketing automation business Klaviyo and food delivery startup Instacart filed for stock market debuts. The Japanese company SoftBank’s Arm, a semiconductor creator, applied for a Nasdaq listing earlier last week. The three IPOs will serve as a gauge to gauge investor sentiment, according to CNBC’s Ari Levy. If the debuts are successful, they might encourage additional businesses to go public.
4. Not too impressive
As it traded for the first time since March 21, 2022, China Evergrande Group shares, which are the most indebted real estate developer in the world, fell sharply on Monday. At the market opening, the stock dropped as high as 87%.
5. The meme continues.
Meme stocks will go viral. In this instance, it’s the well-known meme stock Bed Bath & Beyond, whose shares were actively traded despite the fact that the stock is probably just a few weeks away from being declared worthless. The retailer of home products filed for Chapter 11 bankruptcy protection in late April, and since then, its physical stores have started closing. Overstock purchased its intellectual property at auction, but the business cautioned investors against selling its stock while Chapter 11 cases were still pending, saying that doing so was “extremely speculative and involves major risks.”
Source (CNBC)
