+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

10 things you need to know before the opening bell

Aug 25, 2024, 16:22 IST
Reuters/ U.S. Navy/Mass Communication Specialist 2nd Class Sean M. Castellano/HandoutSailors conduct flight operations aboard the U.S. Navy Nimitz-class aircraft carrier USS Carl Vinson in the western Pacific Ocean .Here is what you need to know.

The House is voting on Trumpcare. House Majority Leader Kevin McCarthy told reporters on Wednesday that he plans to bring the American Health Care Act to the House floor for a vote on Thursday. "Do we have the votes? Yes. Will we pass it? Yes," McCarthy said.

China's bond yields are surging. China's 10-year yield jumped 5 basis points to 3.58%, its highest level since the end of 2015.

Europe's economy is doing even better than we thought. Markit's Composite PMI reading for April came in at 56.8, ahead of the flash reading of 56.7 and up from March's 56.4. The euro is higher by 0.4% at 1.0934.

Advertisement

Oil nears its lowest level since November. West Texas Intermediate crude oil trades down 0.9% at $47.41 a barrel as sellers remain in control following Wednesday's smaller than expected drop in US oil inventories. Traders are watching the $47.35 level, as a close below there would be the lowest since November 30.

Facebook beats across the board. The social media giant earned $1.04 per share as revenue soared 49% to $8.03 billion. Both numbers were well ahead of Wall Street estimates.

Tesla burns through cash, says the Model 3 is on track. The electric car maker lost $1.33 a share (-$0.82 expected) on revenue of $2.7 billion ($2.61 billion expected) during the first quarter and said that it burned through $623 million, the second most on record. Tesla says it is on track to begin production on 5,000 Model 3 vehicles "at some point" during 2017.

Fitbit loses less money than expected. Shares of the wearable device maker gained as much as 14% in extended trading on Wednesday after the company announced an adjusted loss of $0.15 during the first quarter, beating the $0.18 loss that Wall Street was anticipating.

Stock markets around the world trade mixed. Australia's ASX (-0.5%) lagged overnight and France's CAC (+0.9%) leads in Europe. The S&P 500 is set to open up 0.2% near 2,394.

Advertisement

Earnings reports flow. Dunkin' Donuts and Madison Square Garden are among the companies reporting ahead of the opening bell while Activision Blizzard, Herbalife, and Zynga highlight the names releasing their quarterly results after markets close.

US economic data is heavy. Initial claims and the trade balance will be released at 8:30 a.m. ET before factory orders and durable goods orders both cross the wires at 10 a.m. ET. The US 10-year yield is up 2 basis points at 2.34%.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article