{"id":119230,"date":"2021-08-03T14:13:31","date_gmt":"2021-08-03T14:13:31","guid":{"rendered":"https:\/\/fin2me.com\/?p=119230"},"modified":"2021-08-03T14:13:31","modified_gmt":"2021-08-03T14:13:31","slug":"what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/","title":{"rendered":"What to watch today: Wall Street set to bounce as Dow looks for another record"},"content":{"rendered":"

Dow futures gained ground Tuesday, a day after the 30-stock average gave up early gains and lost nearly 100 points as concerns about Covid and peaking economic growth overshadowed strong earnings. The S&P 500 dropped slightly and the Nasdaq rose slightly. The Dow and S&P 500 finished less than 1% away from last week's record close. The Nasdaq ended just over 1% shy of last week's record close. (CNBC)<\/p>\n

Bond yields climbed Tuesday morning, with the 10-year Treasury yield near 1.18%, despite concerns about a slowdown in growth. Bond yields move inversely to prices. The 10-year Treasury yield fell to 1.15% on Monday. Fed Governor Christopher Waller also told CNBC on Monday the central bank could start tapering its bond purchases as early as October. (CNBC)<\/p>\n

Shares of\u00a0Tencent\u00a0and\u00a0NetEase\u00a0plunged Tuesday after Chinese state media branded online gaming "opium" and likened it to a drug. The article also called for further restrictions on the industry in order to prevent addiction and other negative impacts on children. The article was deleted a few hours after publication but has since been re-published with a new headline and references to "opium" removed. (CNBC)<\/p>\n

* Cramer says it's the \u2018height of irresponsibility\u2019 to invest in Chinese stocks right now (CNBC)
* Investors have misconstrued China's crackdown as anti-capitalist, billionaire Ray Dalio says (CNBC)<\/p>\n

IN THE NEWS TODAY<\/h2>\n

The seven-day average of new daily coronavirus cases in the U.S. reached 72,790 on Friday, surpassing the peak seen last summer, when the nation didn't have a Covid vaccine, according to CDC data. As of Monday, the seven-day average was 85,459. The CDC said that 80% of all U.S. counties have high and substantial Covid transmission levels. (CNBC)<\/p>\n

To combat the spike, Louisiana on Monday became the second state to revive its mask mandate, joining Nevada. San Francisco and neighboring counties reinstated mask mandates. McDonald's (MCD), Target (TGT) and Kohl's (KSS) were the latest companies to require masks for store employees in high-risk regions. (CNBC)<\/p>\n

Clorox (CLX)\u00a0forecast full-year sales below Wall Street estimates as demand for its bleaches, wipes and other surface cleaners eased from pandemic highs, sending its shares down more than 11% in the premarket. The company's latest quarterly earnings and revenue fell short of expectations. Sales in the company's health and wellness division, its biggest unit by sales and home to Clorox disinfecting wipes, fell 17%. (Reuters)<\/p>\n

Eli Lilly (LLY) fell short of quarterly profit and revenue expectations, hurt by weaker sales of its Covid therapies as vaccinations gained pace in the U.S. Sales of its antibody treatments dropped over 80% in the quarter. Lilly in April lowered its expectations for sales of those drugs. Looking ahead, the drugmaker lowered its annual sales forecast. Shares lost roughly 1.5% in the premarket. (Reuters)<\/p>\n

Under Armour (UAA) second-quarter earnings and sales topped analyst estimates as its turnaround efforts took hold. The athletic apparel maker on Tuesday also hiked its revenue outlook, saying 2021 revenue will rise at a low-20s percentage, compared with a previous outlook of a high-teen percentage increase. Shares jumped 6% in the premarket. (CNBC)<\/p>\n

Simon Property Group (SPG) saw sales at its shopping malls and outlet centers bounce back to pre-pandemic levels in its latest fiscal quarter, as Americans shopped for clothes, shoes and other items. The largest U.S. mall owner is hoping the improved results encourage retailers to sign new leases and help it fill space vacated during the pandemic. Shares rose about 3% in Tuesday's premarket. (CNBC)<\/p>\n

PepsiCo\u00a0announced Tuesday it has agreed to sell Tropicana, Naked and other North American juice brands to a French private equity firm for $3.3 billion. The food and beverage giant will receive a 39% stake in a newly formed joint venture with PAI Partners and the exclusive U.S. distribution rights for the juice brands for certain channels, like food service. PepsiCo shares rose modestly in the premarket. (CNBC)<\/p>\n

A venture backed by\u00a0Blackstone Group\u00a0(BX) and led by entertainment executives\u00a0Kevin Mayer\u00a0and Tom Staggs has agreed to buy a majority stake in Reese Witherspoon's media company Hello Sunshine. The terms of the deal weren't disclosed, but a person familiar with transaction told CNBC's\u00a0Julia Boorstin, it was valued at about $900 million. (CNBC)<\/p>\n

DHL Express announced\u00a0Tuesday that it's purchasing 12 electric cargo planes from start-up Eviation for use in U.S. package delivery as part of a plan to reduce carbon emissions. "We're going to spread them out in between the West Coast and the East Coast. These Eviation electric planes will replace some of our current smaller feeder aircraft that we have in those markets," said Mike Parra, CEO of DHL Express Americas. (CNBC)<\/p>\n

A Senate infrastructure measure unveiled Sunday would end a pandemic-era tax break for businesses three months early in order to raise funding. Certain businesses are currently able to claim a refundable payroll tax credit on a portion of workers' wages paid up to Jan. 1, 2022. (CNBC)<\/p>\n

* Landlords, tenants fill courts as federal pandemic eviction moratorium ends (AP)<\/p>\n

Two more Washington police officers died by suicide in the months after defending the U.S. Capitol during the Jan. 6 riot by Trump supporters, bringing the number of such deaths to four. Another officer, who collapsed in his office after responding to the riot, died Jan. 7 from two strokes.\u00a0About 140 officers from both the Capitol Police and the D.C. department were injured in the melee. (CNBC)<\/p>\n

Microsoft\u00a0co-founder Bill Gates and Melinda French Gates have gotten divorced after 27 years of marriage. A Monday filing with the King County Superior Court in Washington made the move official, three months after the couple\u00a0announced their plan to split up. (CNBC)<\/p>\n

Gymnastics superstar\u00a0Simone Biles\u00a0fought back her fears and returned to competition Tuesday but fell short in her quest for\u00a0Olympic\u00a0gold in the balance beam competition and instead brought in a bronze medal. Biles now ties the record for the most Olympic medals won by a U.S. gymnast. (NBC News)<\/p>\n

STOCKS TO WATCH<\/h2>\n

French drugmaker\u00a0Sanofi\u00a0(SNY) agreed to buy the U.S.-based biotech Translate Bio\u00a0(TBIO) for $3.2 billion, or $38 per share in cash. Translate Bio specializes in mRNA technology, the type that was used to produce the\u00a0Pfizer\u00a0and\u00a0Moderna\u00a0Covid-19 vaccines. Translate Bio shares soared 29% in premarket trading.<\/p>\n

Marriott\u00a0(MAR) shares gained 1.8% in premarket trading after it reported quarterly earnings of 79 cents per share, compared to a 45 cents a share consensus estimate. Revenue more than doubled from a year ago thanks to a rebound in travel demand, though it did fall slightly short of Wall Street forecasts.<\/p>\n

Take-Two Interactive\u00a0(TTWO) lost 4.3% premarket trading after issuing a weaker-than-expected outlook and announcing delays in new releases for some of its games. The video game producer beat estimates by 12 cents a share, with quarterly profit of $1.01 per share. Take-Two's revenue also topped Wall Street forecasts.<\/p>\n

BP\u00a0(BP) surged 6.3% in premarket trading after it reported better-than-expected quarterly profit and revenue, thanks to higher oil and gas prices. The energy producer also announced a 4% dividend hike and a boost to its share buyback program.<\/p>\n

Stellantis\u00a0(STLA), the company behind the Jeep and Dodge brands and others, raised its full-year profit margin outlook after the automaker reported strong first-half financial results, boosted by record margins in North America. The upbeat results came despite the impact of the global chip shortage which cut production by 700,000 vehicles. The stock rallied 5.3% in the premarket.<\/p>\n

Micron Technology\u00a0(MU) instituted its first-ever dividend, with the chip maker planning to pay 10 cents per share in cash payable on October 18. Micron also said it had updated its share buyback policy to buy more when prices are low and fewer when prices are high. Micron shares gained 1.9% in the premarket.<\/p>\n

SolarEdge Technologies\u00a0(SEDG) reported better-than-expected earnings and revenue for its latest quarter, with the solar energy company also providing an upbeat current-quarter forecast. SolarEdge surged 11.4% in the premarket.<\/p>\n

Reynolds Consumer Products\u00a0(REYN) beat estimates by a penny a share, with quarterly earnings of 39 cents per share. Revenue fell short of Street forecasts, however. The maker of products like Hefty garbage bags and Reynolds Wrap said it was pleased with the results in the face of higher input costs supply chain issues. Reynolds lost 3.6% in premarket action.<\/p>\n

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

Dow futures gained ground Tuesday, a day after the 30-stock average gave up early gains and lost nearly 100 points as concerns about Covid and […]<\/p>\n","protected":false},"author":3,"featured_media":119229,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nWhat to watch today: Wall Street set to bounce as Dow looks for another record - 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-wall-street-set-to-bounce-as-dow-looks-for-another-record\/\" \/>\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: Wall Street set to bounce as Dow looks for another record - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Dow futures gained ground Tuesday, a day after the 30-stock average gave up early gains and lost nearly 100 points as concerns about Covid and [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-03T14:13:31+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\/08\/What-to-watch-today-Wall-Street-set-to-bounce-as-Dow-looks-for-another-record.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=\"7 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-wall-street-set-to-bounce-as-dow-looks-for-another-record\/\",\"url\":\"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/\",\"name\":\"What to watch today: Wall Street set to bounce as Dow looks for another record - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-08-03T14:13:31+00:00\",\"dateModified\":\"2021-08-03T14:13:31+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"What to watch today: Wall Street set to bounce as Dow looks for another record\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What to watch today: Wall Street set to bounce as Dow looks for another record - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/","og_locale":"en_US","og_type":"article","og_title":"What to watch today: Wall Street set to bounce as Dow looks for another record - Fin2me","og_description":"Dow futures gained ground Tuesday, a day after the 30-stock average gave up early gains and lost nearly 100 points as concerns about Covid and [...]","og_url":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/","og_site_name":"Fin2me","article_published_time":"2021-08-03T14:13:31+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/What-to-watch-today-Wall-Street-set-to-bounce-as-Dow-looks-for-another-record.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/","url":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/","name":"What to watch today: Wall Street set to bounce as Dow looks for another record - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-08-03T14:13:31+00:00","dateModified":"2021-08-03T14:13:31+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/what-to-watch-today-wall-street-set-to-bounce-as-dow-looks-for-another-record\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"What to watch today: Wall Street set to bounce as Dow looks for another record"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119230"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=119230"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/119229"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=119230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=119230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=119230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}