Here are the most important news, trends and analysis that investors need to start their trading day:
1. Dow and S&P 500 have opened lower to start the week
Traders listed on the New York Stock Exchange (NYSE), on August 4, 2021.
Andrew Kelly | Reuters
Dow Jones Industrial Average and S&P 500 futures indicate a lower opening for the benchmark index to start the new week. The Dow futures fell 81 points, or 0.2%, pointing to an 83-point drop for the 30-stock index. The future S&P 500 lost 0.1%, indicating a slight opening loss. The future Nasdaq 100 indicated marginal gains for the tech-heavy benchmark. Wall Street ended last week on a high note, as the Dow set a record that closes on the side of a stronger-than-expected U.S. employment report. To be sure, signs of the economy recovering at a rapid pace could lead the Federal Reserve to begin declining its massive bond-buying program, which could put pressure on the market.
2. Norwegian Cruise Line regular judge may require Florida travelers to show proof of Covid vaccination
The ship Norwegian Cruise Line Holdings Ltd. Norwegian Bliss is anchored at the Ogden Point Cruise Terminal in British Columbia, Canada.
James MacDonald | Bloomberg | Getty Images
A federal judge has given a temporary injunction to a Florida law prohibiting companies from requiring customers to be vaccinated against Covid-19, said cruise operator Norwegian Cruise Line. The decision allows Norwegian Cruise Line to ask passengers to present proof that they are completely vaccinated against the virus. The decision comes when the Norwegian Gem cruise departs from Miami on Sunday. It will be the company’s first trip out of Florida since the pandemic began. The new Covid cases have grown in the United States as the highly contagious delta variant across the country.
3. Berkshire Hathaway operating profits jump 21%
Warren Buffett at the annual Berkshire Hathaway meeting in Los Angeles, California. May 1, 2021.
Gerard Miller | CNBC
Warren Buffett’s Berkshire Hathaway posted an operating profit of $ 6.69 billion for the second quarter, marking a 21% increase from the same period a year earlier. Those results were driven in part by Berkshire’s railways, utilities and energy companies which saw an increase in earnings of more than 27% to $ 2.26 billion. The conglomerate has also seen improvements in other businesses, such as home builders. To be sure, Berkshire has acknowledged that its second-quarter numbers look stellar because they are bouncing from a low base in the midst of the pandemic. The company also said: “The extent of the effects over the longer term cannot be reasonably estimated at this time.”
4. The covid pandemic is nowhere to be found, says the epidemiologist
Kim Dimaunahan, RN, left, and Courtney Herron, RN, right, work in the covid unit at Little Mary Medical Center on Friday, July 30, 2021 in Torrance, CA.
Francine Orr | Los Angeles Times | Getty Images
The world still has a long way to go before the Covid pandemic ends, since only a small portion of the world’s population has been vaccinated against the virus, according to famed epidemiologist Dr. Larry Brilliant. “I think we are closer to the beginning than to the end [of the pandemic], and that’s not because the variant we’re looking at now will last so long, ”Brilliant – who was part of a World Health Organization team that helped eradicate chickenpox – told Squawk Box Asia of CNBC “Unless you vaccinate everyone in 200 plus countries, there will always be new variants. Brillante added that the delta variant is potentially “the most contagious virus” ever.
5. Lionel Messi has received a two-year deal from French club PSG
Lionel Messi gives an emotional press conference to FC Barcelona.
Albert Gea | REUTERS
Football superstar Lionel Messi has received a two-year offer from French side PSG, Sky Sports reported. The agreement, which has been revised by Messi’s side, is thought to be worth £ 25 million a year after the tax, the report says. Messi himself said on Sunday that “nothing has been confirmed”, but added that an agreement with PSG was “a possibility”. Messi’s departure from Spanish club FC Barcelona was confirmed on Thursday by the team. Messi has played for Barcelona for 17 years, announcing a record 474 goals in La Liga matches. On Sunday, a tearful Messi said he did not want to leave the only team for which he played as a professional.
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