Here are the most important news items investors need to start their trading day:
1. Equity futures fall ahead of August open
Traders at work on the floor of the New York Stock Exchange (NYSE) on July 27, 2022.
Brendan McDiarmid | Reuters
Stock futures are down on Monday as Wall Street enters a new month after a big jump in July. All three of his major US stock indices posted their best months of the year.of S&P 500 When Dow Jones Industrial Average They rose 9.1% and 6.7% respectively in July, their biggest monthly gains since November 2020. NASDAQ Composite Outperformed and lost 3 months skid. The index rose 12.35% in July, its best month since April 2020, helped by a strong gain in the tech sector.
2. Oil prices fall ahead of OPEC+ meeting
OPEC+ has agreed to increase oil production by 648,000 barrels per day in July and August.
Ian Tuttle | Bloomberg | Bloomberg | Getty Images
Oil prices fell on Monday as energy markets digest poor factory data from china When Japan, and OPEC and its oil allies prepare to decide September production figures later in the week. US oil benchmark West Texas Intermediate futures fell about 1.5% on Monday, while international benchmark Brent crude oil futures fell about 1.1%. WTI and Brent marked his second straight month of declines since October 2020, and in July he fell for the second straight month as recession fears weighed on prices. Moderately increase production, According to Reuters.
3. Another busy financial week
The Starbucks coffee shop logo seen at a store.
Steven Zenner | Lightrocket | Getty Images
Wall Street earnings had another busy week. apple When Amazon I posted quarterly numbers for the last few days. Overall, 148 companies in the S&P 500 are expected to release results over the next five days. caterpillar, jet blue When Starbucks Yum Brands and Reserved collection on wednesday. In addition to the tightly packed results, the nonfarm payrolls report for July is due out on Friday morning. Investors expect this major labor market announcement as they seek more insight into the health of the US economy amid recession fears.
4. Fed Officials: Inflation Matters More Than Declaring a Recession
Neil Kashkari, President and Chief Executive Officer of the Federal Reserve Bank of Minneapolis.
Andrew Haller | Bloomberg | Bloomberg | Getty Images
Minneapolis Federal Reserve President Neil Kashkari said on Sunday He focuses on inflation data — It’s not an argument about whether the US economy is in recession.Meanwhile The debate intensified late last week When advance estimates of GDP for the second quarter show negative reading, a senior central bank official told CBS. “Whether we’re technically in recession or not, my analysis remains the same,” Kashkari said in an interview with Face the Nation. “I look at the inflation data. I look at the wage data. So far, inflation continues to surprise us. Wages continue to rise.” CNBC’s Cameron Albert-Deitch elaborated on Kashkari’s comments..
5. Google CEO: We need to improve employee productivity
Google CEO Sundar Pichai speaking on a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce in Los Angeles, CA on June 9, 2022.
Anna Moneymaker | Getty Images
At a recent all-hands meeting, Google CEO Sundar Pichai told employees at the tech giant they needed to be more productive and, among other things, asked for help creating a “more mission-focused” culture. I was. “It is clear that we are facing a challenging macro environment with even greater uncertainty ahead,” Pichai said. There is a real concern that there is not,” he added. Read Jennifer Elias’ full report on CNBC here.
— CNBC’s Jennifer Elias, Cameron Albert-Deitch, Patti Domm and Christopher Hayes contributed to this report. Reuters also contributed.
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