Listed here are crucial information, traits and evaluation that traders want to begin their buying and selling day:
1. Wall Avenue appears to be like regular after S&P 500’s report shut
Merchants work on the New York Inventory Trade (NYSE) in New York Metropolis, August 3, 2021.
Andrew Kelly | Reuters
U.S. stock futures were relatively flat Wednesday, one day after the S&P 500 broke a two-session losing streak and closed at a record high as broad market strength outweighed the travel stocks held back by Covid fears. The Dow Jones Industrial Average also rose for the first time in three sessions and finished fractionally shy of last week’s record close. The Nasdaq advanced Tuesday and ended about 0.5% away from last week’s record close.
People enter the Goldman Sachs headquarters building in New York, U.S., on Monday, June 14, 2021.
Michael Nagle | Bloomberg | Getty Images
2. Robinhood jumps for second straight day, way above IPO price
Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021.
Brendan McDermid | Reuters
Shares of Robinhood jumped about 16% in the premarket after surging more than 24% on Wednesday, blowing past last week’s $38 initial public offering price. The wildly popular stock trading app fell 8% in its debut last Thursday. It crept higher Friday and Monday before rocketing higher Tuesday to $46.80 per share. Robinhood appears to be garnering attention from retail investors, after giving roughly a quarter of its IPO shares to its own clients. It’s a “top traded stock” on Fidelity, which is generally a good proxy for individual investor interest.
3. GM, CVS Health report quarterly earnings before the bell
A General Motors assembly worker loads engine block castings on to the assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, U.S. August 21, 2019.
Rebecca Cook | Reuters
General Motors on Wednesday reported second-quarter earnings of $1.97 per share. CNBC’s Phil LeBeau reported that it’s unclear whether analyst estimates of $2.23 per share accounted for $1.3 billion of warranty costs. Revenue of $34.17 billion handily beat estimates. GM upped its full-year guidance. In June, GM projected better-than-expected results in the second quarter despite the industrywide impact of the shortage, which also is causing record vehicle pricing and profits. Shares of GM were little changed in Wednesday’s premarket.
Signs offering COVID-19 vaccinations are seen outside of a CVS pharmacy in Washington, DC on May 7, 2021.
Mandel Ngan | AFP | Getty Images
CVS Health on Wednesday reported second-quarter earnings and revenue that beat expectations. The pharmacy chain raised its forecast for the year as spiking Covid cases in the U.S. due to the delta variant reenergize the nation’s vaccination campaign efforts. CVS earned $2.42 per share on an 11% revenue jump to $72.62 billion. Shares were steady in the premarket.
4. FDA reportedly speeds up full-approval process for Pfizer vaccine
Registered nurse Darryl Hana prepares a dose of the Pfizer COVID-19 vaccine at a three-day vaccination clinic at Providence Wilmington Wellness and Activity Center on July 29, 2021 in Wilmington, California.
Mario Tama | Getty Images
Demonstrators gather during a protest against the expiration of the eviction moratorium outside of the U.S. Capitol in Washington, D.C., U.S., on Sunday, Aug. 1, 2021.
Bloomberg | Bloomberg | Getty Images
The CDC issued a new federal eviction moratorium. The ban, announced Tuesday, will be targeted at areas of the country experiencing high levels of coronavirus infections. It will last for 60 days until Oct. 3. The protection could cover around 90% of renters. The CDC’s original eviction ban, which had been in effect since September 2020, expired at the end of last month.
5. Yellen says Biden’s agenda key to keeping U.S. recovery going
Treasury Secretary Janet Yellen will warn Wednesday that enacting President Joe Biden’s economic agenda is critical to maintaining America’s status as the world’s superpower, according to a copy of her remarks obtained by CNBC. Yellen, who preceded Jerome Powell as Fed chief, will deliver the address in Atlanta as part of a White House messaging blitz designed to rally the public behind the trillion-dollar bipartisan infrastructure bill and Democrats’ even bigger $3.5 trillion spending plan.
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