Dow Jones Futures Rise As Key

Some of these companies, such as Sila Nanotechnologies in Alameda, Calif., and Solid Power in Louisville, Colo., are moving closer to manufacturing advanced batteries for major carmakers. In the quarterly report, Tesla also disclosed that it had received a subpoena from the S.E.C. seeking information about the company’s compliance with a 2018 agreement to settle accusations of securities fraud. The increase in capital spending suggests that getting the new factories going in Germany and Texas has proved more expensive than expected. Retailers have been struggling with rising inventory levels since the spring, when customers began pulling back on discretionary spending. Last month, Target also warned that its profits would be lower because of inventory markdowns.

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In earnings, roughly a third of S&P 500 companies will report this week. Newmont Corp. tumbled 13.2% after posting a quarterly loss that was down nearly 41% from last year. Eight of 11 S&P 500 sectors closed in positive territory, with Energy outperforming amid a back-up in oil prices. On the data front, an update from the Conference Board showed consumer confidence declined for a third straight period, dropping to a 17-month low of 95.7 in July. Separately, a reading on manufacturing activity in the Richmond Fed region unexpectedly improved this month to 0 from the prior -9 print. In the real estate realm, new home sales fell a worse-than-anticipated 8.1% in June to a trough not seen since April 2020. Meanwhile, dual updates on U.S. home prices revealed growth decelerating somewhat in May.

Stock Market News: Walmart, Gm Shares Tank, Fed Kicks Off Meeting, Home Sales Steady

Similar movements can be seen with the Two-Year yield, which is now at 3%. However, the spread between the 10-Year and Two-Year U.S. Treasury yields is still negative, as it currently sits at -27 basis points. Meanwhile, bond yields are lower, as the U.S. 10-Year Treasury yield is now hovering around 2.73%. This represents a decrease of seven basis NKE stock forecast points from the previous close. The consumer discretionary sector is the laggard so far, as it is down 3.2%. Conversely, the healthcare sector is the session’s leader with a gain of 0.7%. Republican lawmakers have increasingly accused the president of redefining commonly understood terms to try to make the economy appear healthier than it is.

  • The stock market rally is under pressure, with the major indexes still facing a lot of key resistance levels.
  • Still, an inversion of the yield curve persisted as the European Central Bank’s rate hike and disappointing economic data fueled recessionary worries.
  • Performance of the orphan and inflammatory business units appear encouraging.
  • This easy credit environment created problems throughout the financial system that required significant government intervention.
  • Russia said on Monday that it would reduce, yet again, the amount of natural gas it sends to Germany via the Nord Stream 1 pipeline.

The average price of a gallon of gasoline slipped almost 3 cents a gallon Tuesday morning to $4.327, according to AAA. “My hope is we go from this rapid growth to a steady growth, and so we’ll see — we’ll see some coming down.” President Biden on Monday said, “God willing,” the United Forex news States is “not coming into recession,” ahead of the upcoming report that could show another negative GDP quarter. The Detroit automaker reported second-quarter net income of $1.7 billion, or $1.14 a share, down from $2.8 billion, or $1.90 a share, in the year-earlier quarter.

Stock Market Today

The automaker also said that it was under increased scrutiny from the commission, and that it had lost $170 million on its investment in Bitcoin. The company said it expected earnings per share to decline as much as 13 percent for the second quarter and as much as 8 percent for the full year.

In other earnings, McDonald’s Corp. is rising 0.7% after posting stronger-than-expected same-store sales during the latest quarter. United Parcel Service Inc. is dipping 1.8% as its package demand declined more than anticipated. General Electric Co. is rising 3.9% after its earnings and revenue came in well above analyst expectations, supported by a solid recovery in its jet engine unit. 3M Co. is up 4.4% following a top and bottom line beat and announced the spin-off of its health care business. After the closing bell, results from Microsoft Corp. and Google parent Alphabet Inc. will be closely watched. In response to the inflation threat, the Fed announced more significant steps to tighten monetary policy.

Earnings And Economic News

The filings come just weeks after the department lost a criminal price-fixing lawsuit against chicken company executives. In his nightly address on Monday, President Volodymyr Zelensky of Ukraine called the unfolding crisis an “overt gas war” against a “united” Europe, one that Moscow deliberately timed. To settle the accusations of securities fraud, Mr. Musk agreed to run certain social media posts by a company lawyer. In April, a federal judge in New York rejected an attempt by Mr. Musk to get out of the agreement. The spending increase was one of several new disclosures in Tesla’s quarterly report filed with the Securities and Exchange Commission.

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The technical details of what constitutes a recession have given the White House and Republicans some very nerdy talking points before gross domestic product data is released on Thursday. Growth in the first quarter was reported at negative 1.6 percent, and the new data is expected to show that the U.S. economy grew little or perhaps shrank again in the second quarter. Walmart’s stock price plunged more than 9 percent in after-hours trading, after ending the regular trading day only slightly in the red, down 0.1 percent. The shares of other major retailers, including Target, also fell after hours. The resurgence of inflation combined with rising interest rates creates challenges for investors in 2022.

Dan has a unique perspective on how traders and investors are behaving in these market conditions, as well as who’s trading what. Despite record-high inflation, supply chain disruption, and increased dotbig website cost pressures due to rising wages, the retail sector has been one of the better performers in 2022. At this time, many retailers have been easy to pass along their costs to consumers.

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