Good Monday morning traders and investors of the r/stocks sub! Welcome to the new trading week and a frrrrrrrrrrrrrrresh start! Here are your pre-market stock movers & news on this Monday, July 25th, 2022-
Stock futures gain ahead of a busy week of earnings, Fed meeting
U.S. stock futures rose on Monday morning, coming off a positive week for the major averages, as traders brace for the busiest week of corporate earnings, as well as insights into further interest rate hikes from the Federal Reserve.
Dow Jones Industrial Average futures rose 173 points, or 0.5%. S&P 500 futures and Nasdaq 100 futures gained 0.5% each as well.
On Friday, the major averages fell on the back of weaker-than-expected earnings from Snap that sent tech shares tumbling. Still, all three benchmarks closed the week higher, with the Dow up 2%. The S&P 500 advanced about 2.6%, and the Nasdaq capped the week up 3.3%.
It was the second positive week in the last three for the major averages. The S&P 500 has been attempting a comeback after falling into a bear market earlier this year. The index is currently up more than 8% from its 2022 and trading near the highest levels since early June.
Investors shifted into risk assets last week after absorbing some strong corporate results that had Wall Street deliberating whether the bear market has found a bottom.
“Equities have managed to stage a rally MTD, and climb a wall of worry. The bounce has been led by cyclical and Growth stocks, helped by longer end yields stabilizing, which in turn eases the pressure on P/E’s,” Barclays’ Emmanuel Cau wrote in a Friday note.
“This confirms to us that the market’s focus has switched from inflation worries to growth worries, with a sense that bad news is becoming good news again,” Cau added.
As of Friday, about 21% of companies in the S&P 500 reported earnings. Of those, nearly 70% beat analysts’ expectations, according to FactSet.
Investors will face a stacked week of earnings ahead that will include reports from major tech giants Alphabet, Amazon, Apple and Microsoft.
The Federal Reserve on Wednesday will also conclude its two-day policy meeting. Economists are widely expecting a three-quarter point hike.
STOCK FUTURES CURRENTLY:
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LAST WEEK'S MARKET MAP:
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TODAY'S MARKET MAP:
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LAST WEEK'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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EARNINGS CALENDAR FOR THE NEXT 3 WEEKS:
($TSLA $NFLX $AAPL $AMZN $BAC $AMD $GS $MSFT $CLF $GOOGL $META $XOM $SNAP $JNJ $SCHW $IBM $HAL $T $F $BAX $SHOP $ASML $ROKU $PYPL $TLRY $DVN $UPS $PLD $SYF $NOK $AAL $LMT $QCOM $BA $CL $FCX $UAL $HOLX $ALLY $VZ $SI $DIS $SQ $AXP $BX $KO)
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
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FRIDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Newmont (NEM) – The mining company’s stock slid 3.3% in premarket trading after it reported lower-than-expected second-quarter earnings. Profit was down nearly 41% from a year ago, hurt by a drop in gold prices.
STOCK SYMBOLS: NEM
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Squarespace (SQSP) – The e-commerce platform provider tumbled 14.4% in the premarket after its full-year revenue guidance fell short of Street forecasts. Squarespace reported better-than-expected results for its latest quarter but said revenue is taking a hit from currency headwinds.
STOCK SYMBOLS: SQSP
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Philips (PHG) – Philips tumbled 10.4% in premarket trading after the Dutch medical equipment maker’s quarterly earnings fell short of analyst forecasts. Philips was affected by lockdowns in China and supply chain issues.
STOCK SYMBOLS: PHG
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Public Storage (PSA) – Public Storage added 1.5% premarket action after the operator of self-storage facilities declared a special dividend of $13.15 per share. The distribution is related to the sale of PS Business Parks to affiliates of Blackstone (BX) for $7.6 billion. Public Storage had been the largest shareholder in PS Business Parks, whose sale transaction closed last week.
STOCK SYMBOLS: PSA
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JD.com (JD) – Morgan Stanley calls the Chinese e-commerce company a “catalyst driven idea”, helping its stock rise 2% in premarket trading. The firm thinks the catalyst could be better than expected revenue growth guidance when JD.com next reports earnings in August.
STOCK SYMBOLS: JD
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Tesla (TSLA) – Tesla rose 1.3% in premarket action following its latest 10-Q filing, which included an update on the value of its b/itcoin holdings. Tesla said it took a $170 million impairment charge related to the carrying value of its b/itcoin holdings during the first six months of 2022, but saw a $64 million gain from b/itcoin sales during that period.
STOCK SYMBOLS: TSLA
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Ryanair (RYAAY) – Ryanair jumped 5.7% in the premarket after the airline reported better-than-expected quarterly results. Ryanair cautioned that a return to pre-Covid levels of profitability this year was not certain.
STOCK SYMBOLS: RYAAY
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Farfetch (FTCH) – Farfetch shares gained 2.5% in premarket trading following reports that the online luxury fashion seller was close to a deal with Switzerland’s Richemont that would see it absorb Richemont-owned fashion retailer YNAP.
STOCK SYMBOLS: FTCH
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Uber Technologies (UBER) – The ride-hailing company admitted to not reporting a 2016 data breach that impacted 57 million drivers and passengers as part of a settlement agreement to avoid criminal prosecution. Uber added 1% in premarket trading.
STOCK SYMBOLS: UBER
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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