BY THE NUMBERS
U.S. inventory futures have been indicating a better Wall Avenue open and a potential reversal of current unfavourable traits. The Dow, S&P 500, and Nasdaq all fell Friday and have been decrease in three of the previous 4 buying and selling days. They’re additionally coming off their first weekly drop in three weeks, however stay increased for the month of July. The vitality sector has been July’s worst performer among the many S&P sectors, but it surely may very effectively transfer up within the rankings right this moment on a soar in crude oil costs following ramped-up Center East tensions.
Oil costs rose greater than 2% right this moment on considerations that Iran’s seizure of a British tanker final week might result in provide disruptions within the energy-rich Gulf. British Prime Minister Theresa Might known as for emergency safety session right this moment to debate a response to the seizure. (Reuters)
No financial studies are on right this moment’s calendar.
Cal-Maine Meals (CALM), GNC (GNC), Halliburton (HAL). and PetMed Specific (PETS) are out with quarterly earnings this morning, whereas Whirlpool (WHR), TD Ameritrade (AMTD), and Zions Bancorp (ZION) are among the many handful of firms releasing quarterly numbers after right this moment’s closing bell.
IN THE NEWS TODAY
President Donald Trump stepped up his assaults on 4 Democratic congresswomen who’ve criticized his insurance policies, calling on them to apologize as he himself confronted costs of racism. Trump, who final week informed all 4 girls of colour to “return” to the place they got here from, stated yesterday that the ladies ought to “apologize to America.” (AP)
The highest Democrat on the U.S. Home Judiciary Committee stated he believes there’s “substantial proof” that Trump dedicated excessive crimes and misdemeanors, and he plans to ask former particular counsel Robert Mueller to current these details at a congressional listening to on Wednesday. (Reuters)
The U.Okay. will discover out who its subsequent prime minister shall be this week as voting throughout the U.Okay.’s ruling Conservative Social gathering involves an in depth. Immediately is the final day that members of the social gathering can submit their most popular candidate, with former International Minister Boris Johnson dealing with the present holder of that put up, Jeremy Hunt. (CNBC)
China on Monday launched a new Nasdaq-style tech board — the Science and Know-how Innovation Board, or “STAR Market” — on which 25 firms have been listed, because the nation makes an attempt to handle investor considerations like market volatility and lack of governance. It is the third time in 10 years that China has established a brand new main fairness market. (CNBC)
Hong Kong police fired rubber bullets and tear fuel in operating clashes with protesters late final night time amid chaotic scenes as anger over an extradition invoice morphs right into a contemporary entrance in opposition to what many see as a broader erosion of freedoms by Beijing. Thousands and thousands have taken to the streets up to now two months in an unprecedented present of drive. (AP)
Puerto Rico right this moment braced for what many individuals anticipated to be one of many largest protests ever seen within the U.S. territory as irate islanders pledged to drive Gov. Ricardo Rossello from workplace. Protests come after Rossello stated he wouldn’t give up, however promised to not search reelection. (AP)
Equifax (EFX) is nearing a deal to settle the federal government investigations into its 2017 knowledge breach that uncovered practically 150 million accounts and Social Safety numbers. The settlement, through which Equifax would pay round $700 million, could possibly be introduced as quickly as right this moment, The Wall Avenue Journal reported.
Alphabet’s (GOOGL) Google unit has finalized a settlement with the FTC over alleged violations of youngsters’s knowledge privateness legal guidelines, the Washington Publish reported. The high quality is claimed to be “multimillion-dollar” however the precise quantity wasn’t reported.
CBS (CBS) and AT&T (T) have been unable to return to an new distribution settlement, inflicting CBS stations to go darkish on AT&T companies like DirecTV and U-verse for tens of millions of viewers. (The Hill)
Robert Morgenthau, the longtime Manhattan district legal professional identified for his pursuit of white-collar crime across the globe, died Sunday on the age of 99. He retired a decade in the past, after serving 35 years as Manhattan’s prime prosecutor, overseeing a number of the nation’s most infamous prison instances. (WSJ)
STOCKS TO WATCH
Phillips (PHG) reported better-than-expected quarterly comparable gross sales, because the Dutch well being expertise firm bought extra of its hospital gear within the China and U.S. markets.
M&T Financial institution (MTB) was downgraded to “impartial” from “chubby” at Piper Jaffray, following second-quarter earnings for the financial institution that missed Wall Avenue’s forecasts. Piper Jaffray additionally minimize its value goal on the inventory to $168 per share from $196 a share.
Sew Repair (SFIX) was upgraded to “purchase” from “maintain” at Stifel Nicolaus, which cited a pretty entry value for the styling service’s shares.
Ralph Lauren (RL) confirmed the departure of Model Group President Valerie Hermann, efficient on the finish of September. The information had earlier been reported by Ladies’s Put on Each day.
Over the weekend Disney (DIS) proved, as soon as once more, that it’s the king of the field workplace. “The Lion King,” the corporate’s newest remake of certainly one of its animated classics, hauled in an estimated $185 million within the U.S., the highest opening in July ever. The earlier file was held by “Harry Potter and the Deathly Hallows: Half 2″ which earned $169.1 million throughout its debut in 2011. (CNBC)