Listed below are crucial information, tendencies and evaluation that traders want to begin their buying and selling day:
1. Wall Road to open flat, with earnings and Fed in focus
Merchants on the New York Inventory Alternate.
Eon Stroll, left, administers a Pfizer-BioNTech vaccine to Daryl Black at a cell COVID-19 vaccine clinic, hosted by Moms In Motion in collaboration with L.A. County Division of Public Well being at Moms in Motion on Friday, July 16, 2021 in Los Angeles, CA.
Irfan Khan | Los Angeles Occasions | Getty Pictures
Pfizer is raising its 2021 sales forecast for its Covid vaccine by nearly 29% to $33.5 billion, as the delta variant spreads and scientists debate whether people need booster shots. In releasing better-than-expected quarterly earnings and revenue, Pfizer also said Wednesday it sold $7.8 billion in Covid shots in the second quarter. Pfizer fell roughly 1% in premarket trading. Earlier this month, Pfizer said it was seeing signs of waning immunity induced by its Covid vaccine with German drugmaker BioNTech, and planned to ask the FDA to authorize a booster dose.
3. Biden considering Covid vaccine mandate for federal workers
The White House is strongly considering requiring federal employees to show proof of Covid vaccination or submit to regular testing and wear a mask. President Joe Biden suggested Tuesday that expanding that mandate to the entire federal workforce was “under consideration.” The Department of Veterans Affairs on Monday became the first federal agency to require vaccinations for its health workers.
4. Big Tech reports blow out earnings, stocks mixed in premarket
Tim Cook, CEO of Apple (L), Satya Nadella, CEO of Microsoft (C) and Sundar Pichai, CEO of Google.
Apple fell 1% in premarket trading after warning the negative impact of the global chip shortage would worsen this quarter. That caution came after Apple reported better-than-expected quarterly earnings of $1.30. Revenue surge past estimates as well, driven by a 50% pop in iPhone sales.
Microsoft beat estimates by 25 cents with quarterly earnings of $2.17 per share, while revenue beat estimates as well on continued strong growth in the company’s cloud computing business. Microsoft continued to benefit from the pandemic shift to working and learning from home. Microsoft rose slightly in the premarket.
Alphabet earned $27.26 per share for its latest quarter, well above estimates. Revenue for the Google parent also trounced forecasts, benefiting from the ongoing surge in online ad spending. Alphabet jumped nearly 4% in Wednesday’s premarket.
5. McDonald’s earnings beat, driven by BTS promotion, new chicken sandwich
People wear protective face masks outside McDonald’s in Union Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 30, 2020 in New York City.
Noam Galai | Getty Images
McDonald’s on Wednesday reported double-digit U.S. same-store sales growth compared with pre-Covid 2019 levels in its latest quarter. Strong demand for its BTS meal promotion and new chicken sandwich boosted those numbers. Per-share earnings of $2.37 and revenue of $5.89 billion both exceeded expectations. McDonald’s fell slightly in the premarket.
Boeing reported its first quarterly profit in almost two years Wednesday, boosted by a surge in deliveries of commercial jetliners as airlines began recovering from the pandemic. Earnings of 40 cents per share beat estimates for an 83 cent loss. Revenue of $17 billion also exceeded expectations. The stock jumped about 3.5% in the premarket.
— CNBC’s Peter Schacknow and The Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.