BY THE NUMBERS
U.S. inventory futures had been indicating a better Wall Avenue open and a attainable reversal of latest damaging tendencies. The Dow, S&P 500, and Nasdaq all fell Friday and have been decrease in three of the previous 4 buying and selling days. They’re additionally coming off their first weekly drop in three weeks, however stay increased for the month of July. The power sector has been July’s worst performer among the many S&P sectors, however it might very nicely transfer up within the rankings right now on a soar in crude oil costs following ramped-up Center East tensions.
Oil costs rose greater than 2% right now on issues that Iran’s seizure of a British tanker final week could result in provide disruptions within the energy-rich Gulf. British Prime Minister Theresa Might referred to as for emergency safety session right now to debate a response to the seizure. (Reuters)
No financial studies are on right now’s calendar.
Cal-Maine Meals (CALM), GNC (GNC), Halliburton (HAL). and PetMed Categorical (PETS) are out with quarterly earnings this morning, whereas Whirlpool (WHR), TD Ameritrade (AMTD), and Zions Bancorp (ZION) are among the many handful of firms releasing quarterly numbers after right now’s closing bell.
* Three-quarters of FANG are about to report. This is what to look at (CNBC)
IN THE NEWS TODAY
President Donald Trump stepped up his assaults on 4 Democratic congresswomen who’ve criticized his insurance policies, calling on them to apologize as he himself confronted fees of racism. Trump, who final week instructed all 4 girls of shade to “return” to the place they got here from, mentioned yesterday that the ladies ought to “apologize to America.” (AP)
The highest Democrat on the U.S. Home Judiciary Committee mentioned he believes there may be “substantial proof” that Trump dedicated excessive crimes and misdemeanors, and he plans to ask former particular counsel Robert Mueller to current these details at a congressional listening to on Wednesday. (Reuters)
* Mueller witness George Nader is charged with transporting 14-year-old boy for intercourse, little one porn (CNBC)
The U.Ok. will discover out who its subsequent prime minister might be this week as voting throughout the U.Ok.’s ruling Conservative Celebration involves an in depth. Right now is the final day that members of the celebration can submit their most popular candidate, with former International Minister Boris Johnson going through the present holder of that put up, Jeremy Hunt. (CNBC)
* Positive, Boris Johnson is humorous. However has he ever executed a job nicely? (NY Instances)
China on Monday launched a brand new Nasdaq-style tech board — the Science and Expertise Innovation Board, or “STAR Market” — on which 25 firms had been listed, because the nation makes an attempt to deal with investor issues like market volatility and lack of governance. It is the third time in 10 years that China has established a brand new main fairness market. (CNBC)
* Tremendous-fast web from satellites is the subsequent large factor within the area race (CNBC)
Hong Kong police fired rubber bullets and tear fuel in working clashes with protesters late final night time amid chaotic scenes as anger over an extradition invoice morphs right into a contemporary entrance in opposition to what many see as a broader erosion of freedoms by Beijing. Hundreds of thousands have taken to the streets previously two months in an unprecedented present of pressure. (AP)
Puerto Rico right now braced for what many individuals anticipated to be one of many largest protests ever seen within the U.S. territory as irate islanders pledged to drive Gov. Ricardo Rossello from workplace. Protests come after Rossello mentioned he wouldn’t stop, however promised to not search reelection. (AP)
Equifax (EFX) is nearing a deal to settle the federal government investigations into its 2017 knowledge breach that uncovered practically 150 million accounts and Social Safety numbers. The settlement, wherein Equifax would pay round $700 million, might be introduced as quickly as right now, The Wall Avenue Journal reported.
Alphabet’s (GOOGL) Google unit has finalized a settlement with the FTC over alleged violations of kids’s knowledge privateness legal guidelines, the Washington Put up reported. The fantastic is claimed to be “multimillion-dollar” however the actual quantity wasn’t reported.
CBS (CBS) and AT&T (T) had been unable to come back to an new distribution settlement, inflicting CBS stations to go darkish on AT&T providers like DirecTV and U-verse for tens of millions of viewers. (The Hill)
Robert Morgenthau, the longtime Manhattan district lawyer recognized for his pursuit of white-collar crime across the globe, died Sunday on the age of 99. He retired a decade in the past, after serving 35 years as Manhattan’s prime prosecutor, overseeing a number of the nation’s most infamous felony instances. (WSJ)
STOCKS TO WATCH
Phillips (PHG) reported better-than-expected quarterly comparable gross sales, because the Dutch well being know-how firm offered extra of its hospital tools within the China and U.S. markets.
M&T Financial institution (MTB) was downgraded to “impartial” from “obese” at Piper Jaffray, following second-quarter earnings for the financial institution that missed Wall Avenue’s forecasts. Piper Jaffray additionally reduce its worth goal on the inventory to $168 per share from $196 a share.
Sew Repair (SFIX) was upgraded to “purchase” from “maintain” at Stifel Nicolaus, which cited a lovely entry worth for the styling service’s shares.
Ralph Lauren (RL) confirmed the departure of Model Group President Valerie Hermann, efficient on the finish of September. The information had earlier been reported by Girls’s Put on Each day.
Over the weekend Disney (DIS) proved, as soon as once more, that it’s the king of the field workplace. “The Lion King,” the corporate’s newest remake of one in all its animated classics, hauled in an estimated $185 million within the U.S., the very best opening in July ever. The earlier report was held by “Harry Potter and the Deathly Hallows: Half 2″ which earned $169.1 million throughout its debut in 2011. (CNBC)