Here are the most important news investors need to start their trading day:
1. Stock futures in the red
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, on June 30, 2022.
Brendan McDermid | Reuters
US stock futures fell on Tuesday, as investors worried about inflamed geopolitical tensions between Beijing and Washington ahead of House Speaker Nancy Pelosi’s expected visit to Taiwan. Treasury Yields also slide tuesdaywith reference point 10-year Treasury note trading as low as 2,516% as investors flocked to the perceived safety of US government debt Stocks in mainland China and Hong Kong fell on Tuesday, too, and the and in, considered a safe haven currency, strengthened further. On Monday, Wall Street’s major stock indices ended in the red, snapping a three-day losing streak.
2. Chinese fighter jets are reported to fly near the Taiwan Strait dividing line
An image of House Speaker Nancy Pelosi at her weekly news conference on Capitol Hill on Friday, July 29, 2022, in Washington, DC. US House Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese fighter jets flew near the median line dividing the Taiwan Strait. a source told Reuters.
Kent Nishimura | Los Angeles Times | fake images
chinese fighter planes flew close to the median line in the Taiwan Strait, reported Reuters on Tuesday citing a source. Beijing warned Pelosi not to visit Taiwan, an autonomous island that China claims as its territory. Pelosi is touring the region, but his expected visit to Taiwan has not been officially announced. Tensions between China and Taiwan have been on the rise in recent years.
3. Uber reports another big loss, but shares soar
Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.
Philip Pacheco | AFP via Getty Images
Actions of Uber Technologies jumped on Tuesday after the private transport and food delivery company reported better-than-expected quarterly revenue. Uber’s second-quarter sales came in at $8.07 billion, well above the $7.39 billion projected by analysts, according to Refinitiv. However, Uber posted a $2.6 billion net loss in the quarter, which includes a $1.7 billion hit related to the revaluation of its investments in Grab Aurora and Zomato. Operating losses in the quarter ended June 30 totaled $713 million, but the company reported positive free cash flow of $382 million. In May, CEO Dara Khosrowshahi told employees in a memo that cash flow positivity was becoming an important short-term goal.
4. Oil companies increase dividends
A BP logo photographed in London on May 12, 2021. The International Energy Agency recently reported that in 2021 energy-related carbon dioxide emissions rose to their highest level in history.
Glyn Kirk | Afp | fake images
british oil giant PA and US shale producer Devon Energy reported strong quarterly earnings and increased their dividend payouts, as high crude prices this year helped companies boost their capital return programs. BP, which on Tuesday posted second-quarter earnings of $8.5 billion, increased its quarterly dividend by 10% to 6.006 cents per common share. Devon Energy, which on Monday delivered second quarter results better than expected on the top and bottom lines, it announced a 22% increase in its dividend payout. Using a fixed plus variable dividend strategy, Devon’s quarterly payout is now $1.55 per share, up from $1.27.
5. Jumps Pinterest Firm Says Activist Is Its Major Shareholder
A banner for online image board Pinterest Inc. hangs on the New York Stock Exchange (NYSE) the morning Pinterest conducts its initial public offering on April 18, 2019 in New York City.
Spencer Platt | Getty Images News | fake images
Pinterest shares soared about 18% in premarket trading on Tuesday, a day after the social media company’s quarterly earnings and revenue came in below Wall Street forecasts, and guidance for the current quarter was weaker than expected. While Pinterest’s monthly decline in active users wasn’t as bad as feared, the company’s results show the challenging operating environment for the social media name right now. interestStocks may be reacting to the news that activist investor Elliott Management on Monday revealed that he is the largest shareholder of the companypromoting the “value creation opportunity” you see.
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