U.S. stocks hold steady after record run, while Disney surges in premarket after blowout results
U.S. banal futures were edging higher up of Friday’s open, arsenic investors digest 3rd consecutive grounds closes for the Dow industrials and S&P 500, with import prices and a user sentiment survey ahead. Shares of Walt Disney were climbing successful premarket aft better-than-expected results.
How are markets trading?
- Dow Jones Industrial Average futures YM00, +0.15% roseate 0.1% to 35,451
- S&P 500 futures ES00, +0.07% were modestly higher astatine 4,458
- Nasdaq-100 futures NQ00, +0.03% were besides inching up astatine 15,085.25
Thursday marked the archetypal clip since Mar. 15, 2021 that some the Dow and S&P 500 closed astatine a grounds for 3 consecutive days. The Dow industrials DJIA, +0.04% closed up 14.88 points oregon 0.04% to 35499.85, the S&P 500 SPX, +0.30% finished the time up 13.13 points oregon 0.30% to 4460.83, and the Nasdaq Composite COMP, +0.35% roseate 51.13 points oregon 0.35% to 14816.26.
What’s driving the market?
Investors person been inspired by information this week, specified arsenic tame user prices and a autumn successful play jobless claims connected Thursday, that helped substance different grounds session. That’s arsenic markets proceed to intimately ticker the fast-spreading delta variant of coronavirus and its imaginable effects connected planetary recoveries and reopenings.
More information are up for Friday successful the signifier of July import prices and a preliminary August University of Michigan user sentiment survey.
“With a quiescent league and nary large macro releases, we expect a debased volatility league with an effort to acceptable caller highs successful the S&P 500 oregon retreat mildly into the weekend,” said Steen Jakobsen, main concern serviceman astatine Saxo Bank, successful a enactment to clients.
The U.S. Food and Drug Administration late Thursday authorized an other COVID-19 changeable for those with compromised immune systems, but didn’t confirm media reports that it would update emergency-use authorizations for the Pfizer PFE, +2.01% and Moderna MRNA, +1.58% COVID-19 vaccines.
There were caller concerns surrounding China, which has been battling to support caller outbreaks nether control. Officials shut down the Meishan Terminal of China’s Ningbo-Zhoushan Port, the world’s biggest by tonnage shipped, which serves North America and Europe, owed to a COVID-19 case.
“Those ripples won’t conscionable beryllium felt successful China but besides globally. The interaction has been astir noticeable successful determination banal markets with a precocious beta to commercialized and China,” said Jeffrey Halley, elder marketplace expert astatine Oanda, successful a enactment to clients.
Which companies are successful focus?
- Shares of Walt Disney Co. DIS, +0.67% climbed 5% successful premarket, aft the media and amusement elephantine reported its strongest income and nett since pre-pandemic and forecast-beating caller subscriber numbers for its streaming service.
- ContextLogic Inc. WISH, -4.27% shares fell 19% successful premarket trading, aft the genitor of e-commerce tract Wish reported slowing demand for its products, little enactment connected its level and higher-than-expected costs.
- Airbnb Inc. ABNB, +2.02% shares are down 3%, aft the lodging-booking institution said second-quarter gross astir quadrupled to $1.3 billion, beating analysts’ forecasts, but failed to springiness circumstantial guidance.
- DoorDash Inc. DASH, -1.23% shares fell 5%, aft the online food-ordering radical reported grounds bid measurement and full orders successful the 2nd quarter, but forecast weakness successful the 3rd quarter.
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