Commodities & Agriculture:
- Brent crude (UKOIL) was up 31 cents, or +0.3%, to $100.34 a barrel by 1156 GMT
- U.S. West Texas Intermediate crude (USOIL) added 40 cents, or +0.4%, to $94.29.
- Gold Futures expiring in December were trading up more than +0.4%, and were close to breaking above $1,800.
- Platinum Futures rose +0.3% to $906.55, while Silver Futures dipped slightly.
- Copper Futures expiring in September plunged -1% to $3.4955, as a decline in manufacturing activity pointed to weak demand for the red metal.
- Aluminium futures were also dented by the Chinese data, with London-traded futures of the metal down -1.6% on Monday
- The dollar index, which measures the greenback against six peers, rose +0.3% to 105.65.
- The Australian dollar (AUD) fell nearly -1.5% after the Reserve Bank of Australia raised rates by 50 bps to 1.85%, in line with expectations.
- The Japanese Yen (JPY) was up +0.6% at 130.78 yen, just below a high of 130.40 yen, a level last seen in early June.
During Market hours on Yesterday (Monday – 02.08.2022):
- The Dow (Symbol: DIA) went down -0.19%. The S&P 500 (Symbol: SPY) lost -0.30%. and the Nasdaq (Symbol: QQQ) fell -0.06%.
- Boeing (Symbol: BA) — Shares of the plane maker rallied +6.1% after CNBC reported the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Separately, Boeing defense workers will vote on a new proposed labor agreement on Wednesday, aiming to avert a strike.
- Advanced Micro Devices (Symbol: AMD) — Several semiconductor stocks surged, with Advanced Micro Devices gaining +2.5%. Shares of Micron Technology (Symbol: MU) gained +1.1%, Nvidia (Symbol: NVDA) rose +1.5%, and Intel advanced (Symbol: INTC) +1.8%.
- Global Payments (Symbol: GPN) — Shares of the financial technology company rose +4.6% after a better-than-expected quarterly report. Global Payments reported $2.36 in adjusted earnings per share on $2.28 billion of revenue. Analysts surveyed by Refinitiv had penciled in $2.34 in earnings per share on $2.07 billion of revenue. Global Payments also announced a deal to buy EVO Payments for $34 per share.
- Nio (Symbol: NIO) — Shares advanced +2.3% after the Chinese electric vehicle company and its rival Li Auto all reported an increase in July car deliveries. Li Auto (Symbol: LI) surged +3.8%.
- Check Point Software Technologies (Symbol: CHKP) — Shares fell -4.5% after the cybersecurity firm reported disappointing billings revenue. Billings came in at $570.6 million, below a StreetAccount estimate of $578.3 million. That overshadowed better-than-expected earnings and revenue for the previous quarter.
- Bumble (Symbol: BMBL) — The dating app company’s stock slipped -5.2% on the back of a downgrade from Jefferies to a hold, citing a decline in paying subscribers going forward.
During Premarket hours today (Tuesday – 02.08.2022):
- Caterpillar (Symbol: CAT) – The heavy equipment maker’s stock fell -3.7% in the premarket after its quarterly earnings beat forecasts but revenue was slightly short of consensus. Caterpillar’s sales were hurt by its exit from Russia as well as supply chain issues, and it also saw elevated costs during the quarter.
- Uber Technologies (Symbol: UBER) – Uber reported a quarterly loss of $1.33 per share, including the impact of a $1.7 billion headwind from a drop in the value of its investments. The ride-hailing company’s revenue did come in better than expected, and it turned cash flow positive for the first time. Its shares rallied +10.8% in premarket action.
- Pinterest (Symbol: PINS) – Pinterest shares soared +18.6% in premarket trading following its quarterly results and the news that activist investor Elliott Management is now the image-sharing site’s largest shareholder. Pinterest reported lower-than-expected earnings, but revenue was only slightly below forecasts and user numbers were somewhat better than expected.
- Zoominfo Technologies (Symbol: ZOOM) – The business software company’s stock surged +11.3% in the premarket after it reported better-than-expected quarterly results and raised its full-year guidance.
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