{"id":118752,"date":"2021-07-26T12:52:17","date_gmt":"2021-07-26T12:52:17","guid":{"rendered":"https:\/\/fin2me.com\/?p=118752"},"modified":"2021-07-26T12:52:17","modified_gmt":"2021-07-26T12:52:17","slug":"what-to-watch-today-dow-futures-cut-sharp-overnight-losses-after-fridays-records","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/what-to-watch-today-dow-futures-cut-sharp-overnight-losses-after-fridays-records\/","title":{"rendered":"What to watch today: Dow futures cut sharp overnight losses after Friday's records"},"content":{"rendered":"

Dow futures dropped Monday, though cutting overnight losses of nearly 300 points as stocks in Hong Kong and China plunged on concern about Chinese government crack downs in the education and property sectors there. Ahead of a big week for tech stocks on Wall Street, the Dow closed above 35,000 for the first time ever Friday. (CNBC)<\/p>\n

The Fed's two-day July meeting is set to begin Tuesday. Investors will be looking for signals on when central bankers might start tightening monetary policy and how they're feeling about rising inflation. The 10-year Treasury yield ticked lower Monday to around 1.25%. The yield, which moves inversely to price, hit a 5\u00bd-month low of nearly 1.13% last week. (CNBC)<\/p>\n

IN THE NEWS TODAY<\/h2>\n

Hong Kong's Hang Seng stock index tanked more than 4% overnight. Mainland Chinese shares also plummeted, with the Shanghai composite and Shenzhen component each down over 2%. Adding to the uncertainty in Asia markets, a meeting of high-level Chinese and U.S. officials got off to a rocky start. (CNBC)<\/p>\n

Bitcoin surged to its highest level since mid-June on Monday, trading as high as nearly $40,000, before pulling back some to below $39,000. Traders were hoping that last week's positive comments by cryptocurrency enthusiasts, including Tesla CEO Elon Musk and Twitter CEO Jack Dorsey, would put bitcoin back on track. (Reuters)<\/p>\n

Bitcoin reached an all-time high of almost $65,000 in mid-April. On June 22, bitcoin briefly went negative for the year, sinking below $29,000. Inventors will see how bitcoin's wild ride may impact Tesla's quarterly results. Musk's Tesla, which owns the crypto on its company balance sheet, is set to report after the bell Monday. (CNBC)<\/p>\n

Covid cases are on the rise in all 50 states and the District of Columbia as the delta variant rapidly spreads across the U.S. Cases hit a 15-month low in late June before infections started to rise. Vaccination rates peaked in April and dropped off considerably in recent months. (CNBC)<\/p>\n

White House chief medical advisor Dr. Anthony Fauci said Sunday that Americans with compromised immune systems may end up needing Covid vaccine booster shots. Fauci told CNN that health officials are considering whether to revise mask guidance for vaccinated people in the U.S.<\/p>\n

Senators are racing to seal a bipartisan infrastructure deal as soon as Monday. The lead Republican negotiator, Ohio Sen. Rob Portman, said the two sides were "about 90% of the way there" on an agreement. A top Democrat, Sen. Mark Warner of Virginia, said he was hopeful a final bill would be ready Monday afternoon. (AP)<\/p>\n

House Speaker Nancy Pelosi added Republican Rep. Adam Kinzinger, an outspoken Trump critic, to the House select committee charged with investigating the Jan. 6 attack. Last week, Pelosi rejected two of Minority Leader Kevin McCarthy's picks for the select committee, prompting the Republican to vow to pull all of his proposed appointees. (NBC News)<\/p>\n

Tobacco group\u00a0Philip Morris International\u00a0(PM) has\u00a0reportedly\u00a0said it plans to stop selling cigarettes in the U.K. in 10 years' time. It could bring an end to the cigarette maker's flagship Marlboro brand there and comes two years after the U.K. government\u00a0said\u00a0it wanted to end smoking in England by 2030.<\/p>\n

The U.S. swim team ended the daylong drought Sunday after the Americans failed to medal on the first day of\u00a0Olympic\u00a0competition for the first time in almost 50 years. Chase Kalisz took the first gold medal for the U.S. As of 8 a.m. ET on Monday, the U.S. had seven golds. But in the overall count, the U.S. at No. 2 trailed China's 15 medal haul by one. (NBC News)<\/p>\n

* Pandemic Olympics endured heat, and now a typhoon is on its way (AP)<\/p>\n

STOCKS TO WATCH<\/h2>\n

Hasbro\u00a0(HAS) reported adjusted quarterly earnings of $1.05 per share, well above the 47 cents consensus estimate, with revenue beating forecasts as well. Hasbro saw its film and tv-related businesses return to growth following the pandemic, and also saw strong results in its Wizards division thanks to the popularity of "Dungeons & Dragons" and "Magic: The Gathering." Hasbro jumped 2.6% in premarket action.<\/p>\n

Elevator and escalator Otis Worldwide\u00a0(OTIS) came in 7 cents above estimates with adjusted quarterly earnings of 79 cents per share, while revenue also topped Wall Street forecasts on the strength of strong new equipment sales.<\/p>\n

Lockheed Martin\u00a0(LMT) reported GAAP earnings of $6.52 per share, including a 61 cent charge related to performance issues at a classified program. Wall Street's consensus estimate was $6.53, while revenue beat analyst forecasts. Lockheed Martin also raised its full-year forecast, but shares fell 2.6% in premarket trading.<\/p>\n

Shares of Tencent Music Entertainment\u00a0(TME), a China-based music platform, tumbled 13.1% in the premarket after regulators barred the company from holding exclusive rights to online music.<\/p>\n

PerkinElmer\u00a0(PKI), a life sciences company, announced the acquisition of privately held antibodies and reagent provider BioLegend for $5.25 billion in cash and stock. The deal is the largest in PerkinElmer's history and is expected to close by the end of the year.<\/p>\n

Amazon\u00a0(AMZN) is moving toward accepting bitcoin for payment and is also considering the creation of its own digital token, according to an insider quoted by London financial newspaper City AM. Amazon recently posted a job advertisement for a "cryptocurrency and blockchain lead," which CNBC reported on last week.<\/p>\n

Philips\u00a0(PHG) reported better-than-expected earnings for the second quarter, with demand for its hospital equipment still elevated by the Covid pandemic. However, the Dutch health technology also added 250 million euros to a prior provision, related to the recall of breathing devices and ventilators. Philips slid 4.6% in premarket trading.<\/p>\n

Fair Isaac\u00a0(FICO) is losing its dominance in the consumer credit market, according to a story in this morning's Wall Street Journal. People familiar with the matter say large lenders are increasingly moving away from the popular FICO credit scores in favor of their own proprietary data that predicts whether borrowers will pay back loans.<\/p>\n

Check Point Software\u00a0(CHKP) beat estimates by 5 cents with adjusted quarterly earnings of $1.61 per share, and the cybersecurity company's revenue beat estimates as well. The company said its software sales got a boost from a 93% jump in ransomware attacks as well as other cybersecurity concerns.<\/p>\n

Didi Global\u00a0(DIDI) was downgraded to "neutral" from "overweight" at Atlantic Equities over uncertainties about the impact of new regulations that the Beijing government may impose on the China-based ride-hailing company. Didi slid 12.3% in the premarket.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dow futures dropped Monday, though cutting overnight losses of nearly 300 points as stocks in Hong Kong and China plunged on concern about Chinese government […]<\/p>\n","protected":false},"author":3,"featured_media":118751,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nWhat to watch today: Dow futures cut sharp overnight losses after Friday's records - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/what-to-watch-today-dow-futures-cut-sharp-overnight-losses-after-fridays-records\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to watch today: Dow futures cut sharp overnight losses after Friday's records - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Dow futures dropped Monday, though cutting overnight losses of nearly 300 points as stocks in Hong Kong and China plunged on concern about Chinese government [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/what-to-watch-today-dow-futures-cut-sharp-overnight-losses-after-fridays-records\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-26T12:52:17+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/What-to-watch-today-Dow-futures-cut-sharp-overnight-losses-after-Fridays-records.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/what-to-watch-today-dow-futures-cut-sharp-overnight-losses-after-fridays-records\/\",\"url\":\"https:\/\/fin2me.com\/markets\/what-to-watch-today-dow-futures-cut-sharp-overnight-losses-after-fridays-records\/\",\"name\":\"What to watch today: Dow futures cut sharp overnight losses after Friday's records - 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