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Here are the most important news, trends and analysis investors need to start their trading day:
1. Stock Futures Under Pressure Before US Retail Sales Data
A trader works in the trading floor of the New York Stock Exchange (NYSE) in New York, August 9, 2021.
Andrew Kelly | Reuters
Equity futures fell on Tuesday as traders waited for the release of key economic data on the U.S. consumer. Futures contracts linked to the Dow Jones Industrial Average slipped 22 points, or 0.6%. S&P 500 and Nasdaq 100 futures fell 0.5% and 0.4% respectively. Tuesday’s declines came a day after the Dow and S&P 500 set new records.
Retail sales data for July is expected to be released at 8:30 a.m. ET. Economists expect sales to drop 0.3%, according to Dow Jones. Excluding autos, however, retail sales are expected to have increased 0.2%.
2. The S&P 500 doubles the low point of the Covid pandemic
Monday was a record day for the S&P 500 in more ways than one. The benchmark closed at 4,479.71, up 100.2% from its closing Covid low of 2,237.40 reached on March 23, 2020. It marked the fastest bull market doubling a troughs since World War II, according to data from S&P Dow Jones Indices. The meteoric gains during this period came when the Federal Reserve launched a massive bond buying program and kept rates low, while the government pumped billions of dollars into the economy through spending. rescue.
3. Retail giants Home Depot and Walmart report profits
A customer wearing a protective mask loads wood at a Home Depot store in Pleasanton, Calif., February 22, 2021.
David Paul Morris | Bloomberg | Getty Images
Home Depot shares fell more than 3% pre-market after the home improvement retailer’s same-store sales for the previous quarter fell short of expectations. Home Depot reported earnings per share and revenue for the quarter that beat analysts’ expectations, but same-store sales for the fiscal second quarter rose a disappointing 4.5%. Analysts had expected a gain of 5%, according to StreetAccount. The slight breach comes a year after consumers flocked to its stores to purchase home improvement supplies while stuck inside due to the pandemic.
A shopper wearing a face shield shops at a Walmart store on May 18, 2021 in Hallandale Beach, Florida.
Joe Raedle | Getty Images
4. The United States should recommend a booster shot of the Covid vaccine 8 months after the second dose.
Fourth-year medical student Anna Roesler administers the Pfizer-BioNTech coronavirus disease vaccine (COVID-19) at Indiana University Health, Methodist Hospital in Indianapolis, Indiana on December 16, 2020.
Bryan Woolston | Reuters
U.S. health experts should recommend that Americans of all ages receive a booster shot of the Covid vaccine eight months after receiving their second dose, The Associated Press reported, citing sources. The report says an announcement on booster shots was expected as early as this week. The recommendation would come as new cases across the country increase amid the spread of the delta variant. Over the weekend, five states set new records for Covid cases.
5. Flights from Kabul resume as people scramble to leave Afghanistan
French and Afghan nationals line up to board a French military transport plane at Kabul airport on August 17, 2021, to be evacuated from Afghanistan after the astonishing military takeover of the country by the Taliban . (Photo by STR / AFP) (Photo by STR / AFP via Getty Images)
STR | AFP | Getty Images
Flights from Kabul International Airport resumed Tuesday after a hectic day in which thousands of Afghans scrambled onto the tarmac in an attempt to leave Afghanistan. “The situation is stabilizing but we are obviously monitoring it very closely,” British Foreign Minister Dominic Raab told Sky News on Tuesday. “I think the airport is more stable today than it was yesterday, and we need to make sure that we consolidate that in the days to come.” The chaos in the Middle Eastern country came after the Taliban took control of Kabul on Sunday as the United States withdrew its troops from the country. “I strongly support my decision. After 20 years, I have learned the hard way that there is never a good time to withdraw US forces,” President Joe Biden said on Monday.
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