Commodities & Agriculture:
- Brent crude (UKOIL) rose 37 cents, or +0.4%, to $94.49 a barrel by 1226 GMT.
- U.S. West Texas Intermediate crude (USOIL) was up 27 cents, or +0.3%, at $88.81.
- Gold futures were up +0.1% at $1,808.30.
- Platinum Futures rising +0.6%, while Silver Futures rose +0.3%.
- The U.S. dollar index, which measures the greenback against a basket of currencies, was up +0.22% to 105.93, after sliding 0.68% on Thursday, the largest fall since July 19. It remains around 3% below its mid-July high.
- The Euro (EUR) was down -0.15% against the greenback to $1.0231, within in its relatively narrow range of $1.01-$1.03 that it has been trading in since July 19, as concerns about an European energy crisis are offset by fears of a slowing U.S. economy.
- Sterling (GBP) was lower by -0.12% at $1.2143, a day after the Bank of England (BoE) raised rates by the most in 27 years to fight surging inflation, but warned a long recession was coming, beginning in the fourth quarter of this year.
During Market hours Yesterday — (Thursday – 04.08.2022):
- The Dow (Symbol: DIA) went down -0.24%. The S&P 500 (Symbol: SPY) lost -0.07%. and the Nasdaq (Symbol: QQQ) gained +0.47%.
- Coinbase (Symbol: COIN) — Shares of the cryptocurrency exchange jumped about +10% after the company announced a partnership with BlackRock, the world’s largest asset manager, that will allow its institutional clients to buy bitcoin. The ticker COIN also became one of the most mentioned names on Reddit’s WallStreetBets forum, according to Quiver Quantitative. Earlier in the day, the stock soared as much as about 40%.
- Yeti (Symbol: YETI) — Yeti shares fell almost -19% after the vacuum-insulated drinkware maker reported earnings that missed expectations. Yeti said its direct-to-consumer sales were softer than expected.
- Crocs (Symbol: CROX) – Shares of Crocs slumped more than -10% despite the shoe company beating expectations on the top and bottom lines. Crocs shared light revenue guidance for the third quarter. The shoe company also trimmed guidance for the full year.
- Alibaba (Symbol: BABA) — The Chinese e-commerce giant’s U.S.-listed shares climbed just under +2% after the company reported fiscal first-quarter earnings that beat expectations. However, the gains were limited as it is the first time the company posted flat growth in its history. Alibaba faced a number of headwinds including a resurgence of Covid in China.
During Premarket hours today – (Friday – 05.08.2022):
- Expedia (Symbol: EXPE) – The travel website operator’s stock jumped +5.4% in the premarket after Expedia beat top and bottom line estimates in its latest quarterly report. Travel demand was strong, with lodging revenue up 57% from a year ago and airline ticket revenue up 22%.
- Lyft (Symbol: LYFT) – The ride-hailing service’s stock rallied +7.5% in premarket action after it reported an unexpected quarterly profit and saw ridership rise to the highest levels since before the pandemic. Lyft said its results were also helped by cost controls.
- AMC Entertainment (Symbol: AMC) – The movie theater operator’s stock fell -9% in the premarket after it said it would issue a stock dividend to all common stock shareholders in the form of preferred shares. Separately, AMC reported a slightly wider-than-expected quarterly loss.
- Warner Brothers Discovery (Symbol: WBD) – The media company’s stock slumped -11.6% in premarket trading after it reported a quarterly loss and revenue that came in below Wall Street forecasts.
- Beyond Meat (Symbol: BYND) – The maker of plant-based meat alternatives reported a wider-than-expected quarterly loss and revenue that missed analyst estimates. Beyond Meat also announced it would lay off 4% of its global workforce. The stock fell -3.6% in premarket action.
- Virgin Galactic (Symbol: SPCE) – Virgin Galactic tumbled -14.2% in the premarket after announcing a delay in the commercial launch of space flights to the second quarter of 2023. Virgin Galactic also said that it would sell up to $300 million in shares to boost its cash reserves.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.