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Home CHINA USA TRADE NEWS

U.S. stocks hold steady after record run, while Disney surges in premarket after blowout results

by 198 China News
August 13, 2021
in CHINA USA TRADE NEWS
3 min read
0
U.S. stocks hold steady after record run, while Disney surges in premarket after blowout results
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U.S. inventory futures had been edging greater forward of Friday’s open, as buyers digest third straight report closes for the Dow industrials and S&P 500, with import costs and a shopper sentiment survey forward. Shares of Walt Disney had been climbing in premarket after better-than-expected outcomes.

How are markets buying and selling?
  • Dow Jones Industrial Common futures
    YM00,
    +0.16%
    rose 0.1% to 35,451

  • S&P 500 futures
    ES00,
    +0.03%
    had been modestly greater at 4,458

  • Nasdaq-100 futures
    NQ00,
    -0.11%
    had been additionally inching up at 15,085.25

Thursday marked the primary time since Mar. 15, 2021 that each the Dow and S&P 500 closed at a report for 3 consecutive days. The Dow industrials
DJIA,
+0.04%
closed up 14.88 factors or 0.04% to 35499.85, the S&P 500
SPX,
+0.30%
completed the day up 13.13 factors or 0.30% to 4460.83, and the Nasdaq Composite
COMP,
+0.35%
rose 51.13 factors or 0.35% to 14816.26.

What’s driving the market?

Buyers have been impressed by knowledge this week, resembling tame shopper costs and a fall in weekly jobless claims on Thursday, that helped gasoline one other report session. That’s as markets proceed to carefully watch the fast-spreading delta variant of coronavirus and its potential results on international recoveries and reopenings.

Extra knowledge are forward for Friday within the type of July import costs and a preliminary August College of Michigan shopper sentiment survey.

“With a quiet session and no main macro releases, we count on a low volatility session with an try to set new highs within the S&P 500 or retreat mildly into the weekend,” stated Steen Jakobsen, chief funding officer at Saxo Financial institution, in a observe to purchasers.

The U.S. Meals and Drug Administration late Thursday approved an additional COVID-19 shot for these with compromised immune programs, however didn’t affirm media reviews that it might replace emergency-use authorizations for the Pfizer
PFE,
+2.01%
and Moderna
MRNA,
+1.58%
COVID-19 vaccines.

There have been recent issues surrounding China, which has been battling to maintain new outbreaks beneath management. Officers shut down the Meishan Terminal of China’s Ningbo-Zhoushan Port, the world’s largest by tonnage shipped, which serves North America and Europe, on account of a COVID-19 case.

“These ripples received’t simply be felt in China but additionally globally. The influence has been most noticeable in regional inventory markets with a excessive beta to commerce and China,” stated Jeffrey Halley, senior market analyst at Oanda, in a observe to purchasers.

Which corporations are in focus?
  • Shares of Walt Disney Co.
    DIS,
    +0.67%
    climbed 5% in premarket, after the media and leisure big reported its strongest gross sales and revenue since pre-pandemic and forecast-beating new subscriber numbers for its streaming service.

  • ContextLogic Inc.
    WISH,
    -4.27%
    shares fell 19% in premarket buying and selling, after the mother or father of e-commerce website Want reported slowing demand for its merchandise, much less exercise on its platform and higher-than-expected prices.

  • Airbnb Inc.
    ABNB,
    +2.02%
    shares are down 3%, after the lodging-booking firm stated second-quarter income almost quadrupled to $1.3 billion, beating analysts’ forecasts, however failed to offer particular steering.

  • DoorDash Inc.
    DASH,
    -1.23%
    shares fell 5%, after the web food-ordering group reported report order quantity and complete orders within the second quarter, however forecast weak spot within the third quarter.

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Tags: blowoutDisneyholdpremarketrecordResultsRunSteadystockssurges
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