Traders on to the floor of the NYSE, Aug. 16, 2022.
Listed below are the most crucial news items which investors have to start their trading day:
The major U.S. stock indices indicated a slightly higher open Tuesday, the morning following a rout that dealt a significant blow to the summertime equities rally. The Dow fell over 600 points Monday, as the S&P 500 suffered a 2.14% drop. The Nasdaq fell by the largest percentage of the three, 2.55%, to summarize its worst day since late June. On Tuesday, as investors anticipate what Fed Chair Jerome Powell along with other central bank officials will say later this week at Jackson Hole, they’ll also digest a fresh round of retail earnings, including Macy’s and Dick’s SHOE; and economic data, including new home sales. Follow live market updates here.
Charlton Heston and Linda Harrison, alongside Kim Hunter, Roddy McDowall dressed up in ape costumes, in a publicity still issued for the film, ‘Planet of the Apes’, 1968. T(Photo by BIG SCREEN Collection/Getty Images)
BIG SCREEN Collection | Moviepix | Getty Images
It is a madhouse. AMC, the meme-stock cinema chain, unleashed its so-called APE units out there Monday, making for an exciting sideshow as investors contended with broader market declines. The APEs, a fresh share class for AMC investors, effectively become a dividend and resemble a stock split in a few ways. They’re also CEO Adam Aron’s latest try to interest meme-stock investors who make reference to themselves as “apes.” AMC’s shares finished Monday down a lot more than 40%. But, as CNBC’s Jesse Pound highlights, the combined value of an AMC share and an APE unit at the close was about 8.7% below AMC’s closing price on Friday.
Video-call platform Zoom on Monday cut its full-year revenue and profit outlook, citing shifts in buying patterns. The business, that was a pandemic favorite as people worked from your home and relatives kept in contact fro afar, has seen its revenue growth decelerate as more employees call staff back again to just work at their offices and folks venture out again. “We’ve implemented initiatives centered on driving new online subscriptions, that have shown early promise but weren’t enough to overcome the macro dynamics in the quarter,” the business’s chief financial officer told analysts in a conference call Monday.
Milly Alcock as Rhaenyra Targaryen in HBO’s “House of the Dragon,” a prequel to “Game of Thrones.”
Warner Bros. Discovery
Even with the ultimate season of “Game of Thrones” suffered so much backlash among fans and critics, audiences were still pumped to view the first bout of HBO’s new prequel series, “House of the Dragon,” on Sunday night. HBO said late Monday that the premiere had nearly 10 million viewers on its traditional cable service and its own streaming platform HBO Max, rendering it the most-watched debut of a string in the network’s history. That marks an enormous win for the newly merged HBO parent company Warner Bros. Discovery and its own CEO, David Zaslav. WBD is in an interval of upheaval since it aims to mix HBO Max and Discovery+ next year, while trimming costs and reshaping the entire business, which also contains CNN and the Warner Bros. production studio.
An aerial view of Apple Park sometimes appears in Cupertino, California, USA on October 28, 2021.
Tayfun Coskun | Anadolu Agency | Getty Images
An ex-Apple employee who allegedly stole trade secrets concerning the tech giant’s car division pleaded guilty Monday, four years after he was arrested attempting to fly to China. The engineer, Xiaolang Zhang, faces around 10 years in prison. His sentencing is defined for November. The former employee was accused of downloading files about Apple’s hush-hush automobile project, including a document featuring schematics of a circuit board for a possible autonomous vehicle. There’s another former Apple employee who’s accused of similar crimes, too: Jizhong Chen, a U.S. citizen who had also planned to go to China, have not pleaded guilty and is represented by Zhang’s lawyer, aswell.
CNBC’s Samantha Subin, Jesse Pound, Jordan Novet, Sarah Whitten and Kif Leswing contributed to the report.
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