STOCKS/ECONOMY
-Stock futures are flat after Monday's 123-point loss for the Dow, larger 0.8 percent drop for the S&P 500, and a 1.2 percent selloff for the Nasdaq.
-Tariff worries continue to dominate the investor focus, but there is some relief after the Trump administration extracted concessions from Canada and Mexico and delayed tariffs on them for 30 days. But tariffs on China remain in effect and Beijing has retaliated.
-The yield on the 10-year Treasury bond is up to 4.59 percent.
-Gold is at the $2,843 per ounce level. Bitcoin is at the $99,500 level.
-Asian markets closed higher, led by a 2.8 percent rally for the Hang Seng. The Nikkei rose 0.7 percent.
OIL/ENERGY
-U.S. crude prices are down 2 percent and back to the $71 a barrel level.
-Gasoline prices are at $3.10 a gallon, national average.
EARNINGS SCORECARD
-Pfizer (PFE) reported better than expected quarterly profits and revenues, thanks to better sales for its Covid products. Its shares are up 2 percent in the premarket.
-Merck (MRK) posted full-year revenue guidance that disappointed investors. Its shares are down 8 percent in the premarket.
-PepsiCo (PEP) reported better than expected quarterly profits, but it missed revenue estimates as demand for snacks and drinks fell. Its shares are down 2 percent in the premarket.
-PayPal (PYPL) reported better than expected quarterly profits and revenues. It also issued forward guidance that topped estimates. But its shares are still down 8 percent in the premarket.
-Defense tech company Palantir (PLTR) reported better than expected quarterly profits and revenues and also issued strong forward guidance. Its shares are soaring 25 percent higher in the premarket.
TARIFF TUMULT
-Shares of Ford (F) and General Motors (GM) are both up 1 percent in the premarket in response to the 30-day delay on tariffs for Canada and Mexico.
AMAZON'S AMERICA
-Amazon (AMZN) is closing more of its convenience stores across the country as the company continues to have problems with brick and mortar operations. Its shares are up slightly in the premarket.
dow futures down 55 but other indices are up
tariff roundup
gasoline prices may drop!
pepsi snacks weaker down 2%
amazon brick and mortar
Share this post