5 things to know before the stock market opens Monday, July 12

0 0

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow set to retreat from Friday’s record high close

Traders on the floor of the New York Stock Exchange

Source: NYSE

2. Banks to kick off what’s expected to be an incredible earnings season

A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.


3. Richard Branson beats Jeff Bezos, Elon Musk into space

Billionaire Richard Branson reacts on board Virgin Galactic’s passenger rocket plane VSS Unity after reaching the edge of space above Spaceport America near Truth or Consequences, New Mexico, U.S. July 11, 2021 in a still image from video.

Virgin Galactic | via Reuters

4. Pfizer to meet with U.S. officials about Covid booster shot

12 years and older New Yorkers are getting vaccinated at the St. Anthony of Padua Roman Catholic Church in Bronx of New York City, United States on June 13, 2021.

Tayfun Coskun | Anadolu Agency | Getty Images

Pfizer plans to meet with top U.S. health officials Monday to make its case for federal authorization of a third dose of its Covid vaccine. On Sunday, Dr. Anthony Fauci didn’t rule out the possibility, but he said it was too soon for the government to recommend another shot. President Joe Biden’s chief medical advisor said clinical studies and laboratory data have yet to fully bear out the need for a booster to the current two-shot Pfizer and Moderna vaccines or the one-shot Johnson & Johnson regimen. Fauci said the CDC and the FDA did the right thing by pushing back against Pfizer’s statement last week that argued for another shot.

5. China’s tech companies caught in government crackdown

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 latest fallout from the Chinese government’s crackdown on its nation’s tech companies, the owner of TikTok reportedly put its offshore IPO plans on hold. ByteDance took a different approach than Chinese ride-hailing giant Didi, which went ahead with its listing in the U.S. at the end of June, when it got a warning from the Chinese government, according to The Wall Street Journal.

China’s market regulator on Saturday said it would block on antitrust grounds Tencent’s plan to merge that country’s top two videogame streaming sites, Huya and DouYu. Tencent is Huya’s biggest shareholder with 36.9% and also owns over a third of DouYu, with both firms listed in the U.S., and worth a combined $5.3 billion in market value.

— Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

Read original article here

Denial of responsibility! Swift Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.