Here are the top news, trends, and analysis investors need to start their trading day:
1. Dow and S&P 500 will open lower earlier in the week
Traders works on the New York Stock Exchange (NYSE) on August 4th, 2021.
Andrew Kelly | Reuters
The Dow Jones Industrial Average and S&P 500 futures indicated a lower open for the benchmark indices earlier this week. Dow futures were down 81 points, or 0.2%, indicating a 83 point drop for the 30-stock index. S&P 500 futures lost 0.1%, indicating a slight opening loss. Nasdaq 100 futures indicated small gains for the tech-heavy benchmark. Wall Street ended last week on a good note when the Dow hit a record high on a stronger-than-expected US employment report. Certainly, signs of a rapid recovery in the economy could lead the Federal Reserve to taper its massive bond-buying program, which could put the market under pressure.
2. Judge Rules Norwegian Cruise Line may require Florida travelers to provide evidence of Covid vaccination
The ship Norwegian Cruise Line Holdings Ltd. Norwegian Bliss is docked at Ogden Point cruise terminal in British Columbia, Canada.
James MacDonald | Bloomberg | Getty Images
A federal judge issued an injunction to a law in Florida that prohibits companies from asking customers to provide proof of vaccination against Covid-19. The ruling allows Norwegian Cruise Line to require passengers to provide proof that they are fully vaccinated against the virus. The verdict comes as the Norwegian Gem Cruise is due to depart Miami on Sunday. It will be the company’s first trip to leave Florida since the pandemic began. New infections are increasing in the United States as the highly contagious Delta variant spreads across the country.
3. Berkshire Hathaway’s operating profit increases 21%
Warren Buffett at the Berkshire Hathaway Annual Meeting in Los Angeles, California. 05/01/2021.
Gerard Miller | CNBC
Warren Buffett’s Berkshire Hathaway posted operating income of $ 6.69 billion for the second quarter, up 21% from the same period last year. These results were driven in part by Berkshire’s rail, utilities and energy companies, which saw profits jump more than 27% to $ 2.26 billion. The conglomerate also saw improvements in other business areas, such as house construction. Of course, Berkshire acknowledged that its second quarter numbers look great as they rebound from a low base amid the pandemic. The company also said, “The extent of the long-term impact cannot be reasonably estimated at this time.”
4. Covid pandemic is far from over, says epidemiologist
Kim Dimaunahan, RN, left, and Courtney Herron, RN, right, work in the Covid unit at the Little Company of Mary Medical Center on Friday July 30, 2021 in Torrance, California.
Francine Orr | Los Angeles Times | Getty Images
The world still has a long way to go before the Covid pandemic is over as only a small portion of the world’s population has been vaccinated, said epidemiologist Dr. Larry Brilliant to CNBC to Squawk Box Asia. “I think we’re closer to the beginning than the end [of the pandemic]and it’s not because the variant we’re looking at will last that long, “said Brilliant, who was part of a World Health Organization team that helped eradicate smallpox.” Unless we all vaccinate in over 200 countries, there will be new variants. “Brilliant added that the Delta variant is potentially” the most contagious virus “of all time.
5. Lionel Messi has reportedly received a two-year deal offer from French club PSG
Lionel Messi holds an emotional press conference for FC Barcelona.
Albert Gea | REUTERS
Football superstar Lionel Messi has received a two-year contract offer from French team PSG, Sky Sports reported. The deal, under review by Messi’s warehouse, is said to be worth £ 25 million ($ 35 million) a year after taxes, the report said. Messi himself said on Sunday that “nothing is confirmed” but added that a deal with PSG is “a possibility”. Messi’s departure from Spanish club FC Barcelona was confirmed by the team on Thursday. Messi played on Barcelona’s top team for 17 years, scoring a record 474 goals in La Liga games. On Sunday, a tearful Messi said he didn’t want to leave the only team he played for as a professional.
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