1. Tesla rally: Shares in Tesla are surging 8% premarket as investors express relief that the company's big quarterly loss wasn't as bad as expected. Tesla reported its largest quarterly loss in its history on Wednesday and burned through $430 million in cash over three months.
|
 |
| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -171.00 | | -54.50 | | -17.50 | | -0.68% | | -0.75% | | -0.62% | | | |
| |
| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -234.17 | | -56.51 | | -93.52 | | 22,512.53 | | 2,768.02 | | 7,559.39 | | -1.03% | | -2.00% | | -1.22% | | | |
| |
| | | Biggest Winners | | Discovery Inc | +4.67% | | | | Cigna Corp | +2.22% | | | | Western Digital Corp | +2.12% | | | | Allergan plc | +1.91% | | | Biggest Losers | | TripAdvisor Inc | -13.10% | | | | Wynn Resorts Ltd | -4.12% | | | | WestRock Co | -2.84% | | | | Freeport-McMoRan Inc | -1.67% | | | | | | | |
| |
| |
| News: What you need to know about the markets | | | | | | | Tesla rally; Stocks slump on trade fears; CBS earnings | | By Alanna Petroff | | | | 1. Tesla rally: Shares in Tesla are surging 8% premarket as investors express relief that the company's big quarterly loss wasn't as bad as expected. | | | | Tesla reported its largest quarterly loss in its history on Wednesday and burned through $430 million in cash over three months. | | | | The electric carmaker said it lost more than $717.5 million in the second quarter. But its cash burn rate was less than investors expected, and the company had $2.2 billion in cash at the end of the quarter. | | | | 2. Trade scare: The latest flare up in global trade tensions is hitting China's stock markets. | | | | The Trump administration announced it is considering more than doubling tariffs on an additional $200 billion worth of goods from China. US tariffs could be set at 25% instead of 10%. | | | | The main Shanghai Composite index fell 2% as investors reacted to the threat. The Hang Seng shed 2.3% and the Shenzhen Composite dropped 2.4%. | | | | Data released this week suggested that the Chinese economy is already starting to feel the pain from recently introduced US tariffs, prompting further investor concern. | | | | So far, the United States had slapped 25% tariffs on Chinese goods worth $34 billion to punish Beijing for what it says are its unfair trade practices. | | | | 3. Global stock market overview: US stock futures were lower. | | | | European stocks dipped in early trading, with Germany's Dax down 1.5%. | | | | The Dow Jones industrial average and S&P 500 had a rough Wednesday, slipping 0.3% and 0.1% respectively. The Nasdaq was more buoyant, rising 0.5%. | | | | The yield on 10-year US Treasuries have stuck around 3% after rising to that level on Wednesday. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Earnings galore: It's another big day for earnings in the United States. | | | | Ahead of the open, investors will hear from Blue Apron, Cigna, DowDuPont, Kellogg, MGM Resorts, TransCanada, Wayfair and Yum! Brands. | | | | Cigna was in the news on Wednesday as the Wall Street Journal reported that activist investor Carl Icahn built a sizable stake in health insurer. | | | | CBS, Activision Blizzard, Take-Two, GoDaddy, GoPro and Shake Shack will report quarterly results after the close. | | | | BMW stock slumped 2% after the German automaker reported its quarterly results. | | | | 5. Central bank action: The Bank of England is widely expected to hike interest rates on Thursday as high inflation and a strong job market encourage the central bank to clamp down on cheap money. | | | | The decision is expected at 7 a.m. ET and economists are expecting the central bank to raise the benchmark rate to 0.75% from 0.5%. | | | | "The BoE looks almost certain in our view to raise interest rates for the second time since the global financial crisis," said Fawad Razaqzada, a market analyst at Forex.com. | | | | The US Federal Reserve held rates steady on Wednesday. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Thursday — Bank of England announces interest rate decision; CBS earnings
Friday — US jobs report released; Kraft Heinz and Toyota earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $67.02 | -0.64 / -0.95% | | | Gold | $1,224.50 | -3.10 / -0.25% | | | 10-yr | 3.00% | +0.04 / +1.32% | | | Euro | $1.16 | -0.00 / -0.41% | | | |
| |
Hi, let us know what you
think of this newsletter! | | | Tell us what you want to read more of... and less of.
Email your tips and feedback to BeforeTheBellFeedback@cnn.com | | |
| |
| |
| |
| | Tips, thoughts or questions are always welcome at
BeforeTheBellFeedback@cnn.com. | | | ® © 2018 Cable News Network Inc.
A WarnerMedia Company. All Rights Reserved.
You are receiving this message because you subscribed to
CNNMoney's "Before The Bell" newsletter.
Our Mailing address is:
Cable News Network, Inc.
Attention: Privacy Policy Coordinator
One CNN Center, 13 North
Atlanta, GA 30303 | | | | |
No comments:
Post a Comment