Stock futures headed toward a lower open Monday morning, with lingering concerns over the growth outlook at least temporarily outweighing optimism over a strong second-quarter earnings season. Dow futures dropped more than 100 points, or 0.4%, in early trading. The S&P 500 and Nasdaq also pointed toward a lower open. The three major indexes each set record closing highs on Friday, shaking off a sell-off at the start of last week as worries over the Delta variant increased.  Cyclical stocks… Source link

The rout in a good number of cyclical stocks amid resurgent COVID-19 infections this past month is overdone and it’s time to buy ahead of a coming big rally, contends Goldman Sachs.  “Among U.S. industries, Airlines (19% below its 52-week high) and Hotels (11%) rank among the laggards in recent weeks. If our economic outlook proves correct, these stocks should rebound in coming months. Likewise, the Energy sector trades 12% below where it traded a month ago and our commodity strategists’… Source link

Google app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic//File Photo BRUSSELS, July 26 (Reuters) – Alphabet unit Google (GOOGL.O) has two months to improve the way it presents internet search results for flights and hotels and explain how it ranks these or face possible sanctions, the European Commission and EU consumer authorities said on Monday. The world’s most popular internet search engine has long faced scrutiny from antitrust enforcers and… Source link

Legendary fund manager Li Lu (who Charlie Munger backed) once said, ‘The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.’ It’s only natural to consider a company’s balance sheet when you examine how risky it is, since debt is often involved when a business collapses. As with many other companies Yandex N.V. (NASDAQ:YNDX) makes use of debt. But the more important question is: how much risk is that debt creating? Why Does… Source link

After a bullish end to the week for Bitcoin and the broader market on Sunday, it was a particularly bullish morning for the crypto majors this morning. At the time of writing, Bitcoin, BTC to USD, was up by 8.97%to $38,591.0. A mixed start to the day saw Bitcoin fall to an early morning low $35,233.0 before making a move. Steering clear of the first major support level at $34,386, Bitcoin rallied to an early morning current day high $39,777.0. Bitcoin broke through the day’s major resistance… Source link

Reuters U.S. new home sales hit 14-month low amid supply constraints Sales of new U.S. single-family homes tumbled to a 14-month low in June and sales in the prior month were weaker than initially estimated, the latest signs that expensive lumber and shortages of other building materials were hurting the housing market. The third straight monthly decline in sales reported by the Commerce Department on Monday followed news last week that permits for future homebuilding dropped to a nine-month… Source link

Lucid Motors begins trading today as Lucid Group, Inc., under the new ticker symbol “LCID” after completing a merger with Churchill Capital Corp IV The transaction brings in $4.4B, which the company plans to use to accelerate its growth and increase manufacturing capacity to capitalize on expected demand Company has over 11,000 paid reservations for Lucid Air and is on schedule to deliver its groundbreaking luxury electric vehicle in the second half of 2021 Lucid’s leadership team reflects its… Source link

[unable to retrieve full-text content]Yandex: Spotlight On Antitrust And Recent Acquisition  Seeking Alpha Source link

By David French and Jessica DiNapoli NEW YORK (Reuters) – No calls, no emails and no meetings. That’s the order this week from Aquiline Capital Partners to its staff. The private equity firm is putting all employees on vacation, people familiar with the matter said. It’s an unusual move intended to recognize employees and avoid burnout from the physical and mental pressure of the COVID-19 pandemic and the frenetic pace of dealmaking. Aquiline has more than $6 billion in assets and over 60… Source link

(Bloomberg) — A selloff in Chinese private education companies sent shockwaves through the equity market Monday, as investors scrambled to price in the growing risks from an intensifying crackdown by Beijing on some of the nation’s industries. Stocks slumped on the mainland and in Hong Kong, with the benchmark CSI 300 Index dropping 3.2% and the Hang Seng Index tumbling 4.1%, the most since May last year. Steep losses in education stocks in the wake of a sweeping overhaul spilled over into… Source link