Here are the top news, trends, and analysis investors need to start their trading day:
Traders on the floor of the New York Stock Exchange
Dow futures fallen more than 100 points on Monday, indicating a retreat on Wall Street for that 30-share average from Friday’s record high. The Dow ended last week up 448 points, or 1.3%. The S&P 500 and Nasdaq also gained about 1% each, with both logging records also being closed. Friday’s rally, which reversed a wide sell-off in the previous session, was enough to bring all three benchmarks into positive territory.
Before the main inflation reports on Tuesday and Wednesday – and the question of whether the US Federal Reserve believes the increasing price pressure is temporary – the 10-year government bond yield fell to around 1.33% on Monday. The benchmark yield fell 1.25% on Thursday, a level not seen since February. The 10-year yield hit a 14-month high of 1.78% in March. It started at less than 1% in 2021.
A combined file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.
The reporting season for the second quarter should start this week – and if estimates suggest incredible growth, such results could confirm a market that continues to easily shake off all concerns on its steady march to record high after record. S&P 500 companies’ earnings are expected to increase 65% over the same period last year during the depths of the Covid pandemic in the April-June quarter, according to Refinitiv. The banks start quarterly reporting too JPMorgan Chase and Goldman Sachs on Tuesday; Bank of America, City group and Wells Fargo On Wednesday; and Morgan Stanley on Thursday.
Billionaire Richard Branson reacts aboard Virgin Galactic’s VSS Unity passenger rocket plane after reaching the edge of space over Spaceport America near Truth or Consequences, New Mexico, the United States, July 11, 2021 in a video still .
Virgo Galactic | via Reuters
Richard Branson, after almost 17 years of development and investing over a billion dollars in Virgo galactic, achieved his dream and reached space. Speaking from the spacecraft’s cabin on Sunday, Branson described the flight as the “Complete experience of a lifetime.” After landing, he said, “I’ve dreamed of this moment since I was a child, and frankly, nothing could prepare you to see Earth from space.”
Jeff Bezos is supposed to be on the maiden flight of his space company Blue Origin on July 20th. Start in front of Bezos and Elon Musk, Sunday’s flight means Branson will become the first of the multi-billion dollar space company founders to drive his own spaceship. The Wall Street Journal said Musk bought a ticket for a future Virgin Galactic flight. Neither Musk nor its space company SpaceX immediately responded to The Journal and CNBC for comment.
New Yorkers, 12 and older, will be vaccinated on June 13, 2021 at the St. Anthony of Padua Roman Catholic Church in the Bronx of New York City, United States.
Tayfun Coskun | Anadolu Agency | Getty Images
Pfizer plans to meet with senior U.S. health officials on Monday to make his case for federal approval of a third dose of its Covid vaccine. On Sunday, Dr. Anthony Fauci didn’t deny the opportunity, but said it was too early for the government to recommend another injection. president Joe Biden‘s senior medical advisor said clinical studies and laboratory data do not yet fully substantiate the need for a two-shot refresh of the current Pfizer Moderna Vaccines or the one-shot Johnson & Johnson Regime. Fauci said the CDC and FDA did the right thing by rejecting Pfizer’s testimony last week calling for another shot.
A symbol of TikTok (Douyin) is pictured at The Place shopping mall at dusk on August 22, 2020 in Beijing, China.
VCG | Visual China Group | Getty Images
In the recent aftermath of the Chinese government’s crackdown on the country’s tech companies, the owner of TikTok has reportedly put its offshore IPO plans on hold. ByteDance took a different approach than the Chinese ride hailing giant I have, which was listed in the US in late June when it received a warning from the Chinese government, according to the Wall Street Journal.
China’s market regulator on Saturday said it would block Tencent’s plan to merge the country’s two leading video game streaming sites, Huya and DouYu, for antitrust reasons. Tencent is Huyais the largest shareholder with 36.9% and also owns over a third of DouYu, both of which are listed in the US and have a combined market value of $ 5.3 billion.