US : 4 things to know before the open – 16 Aug 2016
Here are the four things you need to know before the opening bell rings:
1. Stock market overview: Just in case you missed it… every major U.S. stock index hit a fresh record high on Monday.Since the start of the year, the Dow Jones industrial average, S&P 500 and Nasdaq have all surged by 5% to 7%.
But now U.S. stock futures are slipping a tad and international markets are displaying some weakness.
European markets are declining in early trading, while most Asian markets are closing the day with losses.
2. Apple slices: Shares in Apple (, Tech30) are in the spotlight after Warren Buffett’s firm Berkshire Hathway ( ) disclosed that it bought another big slice of the company.A regulatory filing on Monday revealed that the investment conglomerate increased its Apple stake by 55% over the course of three months. It owned 15.2 million Apple shares at the end of June, or nearly $ 1.5 billion worth.
Premarket trading volume in Apple shares is higher than normal ahead of the opening bell and shares are edging up a tad.
3. Earnings: Home Depot (), Dick’s Sporting Goods ( ) and T.J. Maxx parent TJX Companies ( ) are all posting quarterly earnings before the open.
Urban Outfitters() and Popeyes ( ) will report after the close.
Miner BHP Billiton () reported a massive $ 6.4 billion loss for the fiscal year due to weak commodity prices. However, shares in the company are edging up a bit because some of the numbers in the annual report were better than expected.
4. Economics: The U.K. pound shot up by about half a penny to trade at $ 1.30 after new inflation data was released.
Inflation edged up by 0.6% in July compared to the same time last year, a slightly faster pace than was expected. Higher prices were fueled by increased import costs following the pound’s Brexit-induced slide.
In the U.S., the Bureau of Labor Statistics will post its own inflation data at 8:30 a.m. ET.
The U.S. Census Bureau will issue its July report on housing starts and building permits at the same time, giving insight into general housing demand in the States.
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