1. – Stock Futures Point Lower
Stock futures on Tuesday pointed to a mostly weak start after President Trump vowed to end the country’s dependence on trade with China.
Contracts related to the Dow Jones Industrial Average rose 17 points, the S&P 500 futures fell 15 points and the Nasdaq futures rose 226 points.
Trump raised the idea of decoding the US and Chinese economies and threatened to punish American companies that create jobs abroad and to prevent those who do business in China from winning federal contracts.
“We will build our critical manufacturing supplies in the United States, we will create ‘Made in America’ tax credits and bring our jobs back to the United States and we will impose tariffs on companies that create jobs in desert China. And others Countries, ”Trump said at a White House news conference on Monday.
Trump Promotes Decoupling With No Clue From China As To How It Can Work
Stocks in the US fell for a second day on Friday, again led by tech stocks like Amazon.com (AMZN) – Get Report, Facebook (American Plan) – Get Report And alphabet (GOOGL) – Get Report. Stock markets in the US were closed for Labor Day on Monday.
The tech-heavy Nasdaq fell 3.3% last week for its worst week since March, with the Dow falling 1.8% and the S&P 500 falling 2.3%.
Reports state that the Japanese conglomerate SoftBank is taking huge options in technology shares and could be a factor in Tech’s recent rally.
Stephen Ines, AxiCorp’s chief global market strategist, said, “Traders and investors alike can gradually slowly come around to the idea that last week’s market stance was tech sector-specific, rather than a real one in the underlying sentiment. Of change. “
Here’s why a pullback is healthy for the market
2. – Dull and Lululemon Report Income
Slack Technologies is expected to report earnings on Tuesday (work) – Get Report, Lululemon athletica (LULU) – Get Report, Coupa Software (Coup) – Get Report And health protection (HQY) – Get Report.
3 things to watch when the sluggish report earns on Tuesday
Reports from GameStop are expected later in the week. (GME) – Get Report, Peloton (PTON) – Get Report, Chevy (CHWY) – Get Report And crowger (Kr) – Get Report.
Tuesday’s economic calendar in the US includes the ETIB Small Business Index for August at 6 p.m. Later reports in the week include weekly jobless claims, producer price index and consumer price index.
3. – Tesla excluded from the S&P 500
Tesla (TSLA) – Get Report Premarket trading declined by more than 10% after not being selected for inclusion in the S&P 500. Instead, ATC (Etsy) – Get ReportTeradine, the equipment manufacturer (TER) – Get Report Catalyst and pharmaceutical company (CTLT) – Get Report The index will join, effective 21 September.
The S&P Dow Jones Index rebalances the index on a quarterly basis, adding new names and outselling others.
If Tesla is added, the tracking fund and ETF will have to acquire shares in the electric car manufacturer.
After Tesla’s final earnings report, in which it reported positive fourth-quarter earnings, the carmaker became eligible for the index. Many Tesla investors were expecting the stock to join the S&P 500 this quarter, a reason often cited as to why the stock has gained so much in recent weeks.
Tesla fell 10.36% to $ 374.99 in prepaid trading. The stock has gained nearly 400% this year.
4. – FAA review claws in Boeing 787 Dreamliners
The Federal Aviation Administration said it was investigating some Boeing-related manufacturing defects (B. A) – Get Report 787 Dreamliners said it was too early to say whether a new inspection would be needed.
Reuters’ comments from the FAA followed a report in The Wall Street Journal that production problems at the Boeing 787 Dreamliner factory have prompted the agency to review quality controls, potentially pulling back for nearly a decade .
The journal’s report cited an internal government memorandum and people familiar with the case.
Boeing told the FAA that parts of the aerospace giant’s South Carolina plants failed to meet their own design and manufacturing standards, according to an August 31 FAA memo reviewed by the Journal.
The Journal reported that a high-level FAA review is considering mandating mandatory or expedited inspection, which resulted in 900 out of nearly 1,000 Dreamliners, as a result of “nonforming” sections of the rear torso due to a reduction in engineering standards. Can cover.
Boeing shares fell 1.78% to $ 168 in Tuesday trading.
5. – ‘TENSET’ grossed $ 20.2 million in opening weekend
Christopher Nolan’s “theory” led to an estimated $ 20.2 million in tickets sold through Holiday Weekend in US and Canadian theaters, as theatergo slowly returned to films during the coronovirus epidemic.
According to the Associated Press, about 70% of American movie theaters are currently open, while the top markets in the country, Los Angeles and New York, are closed. Theaters are limiting the maximum capacity by 50%.
“Tenet” was played in 2,810 North American locations, the typical three-quarters for a major release.
Tenet was built by Warner Bros., a unit of AT&T (T) – Get Report WarnerMedia.