Mixed stocks, PayPal and Pinterest Brady’s 600 TDs-5 things to know
Here are five things you need to know for Monday, October 25:
1. – Futures contracts on stocks are mixed in front of the list of profits of technology leaders
U.S. equity futures traded mixed on Monday, following a closing record for the Dow Jones on Friday, as investors enter the busiest week of the third-quarter earnings season with a warning about interest rates and other signals of inflationary pressures in the coming months.
About 165 S&P companies will release September quarter earnings this week, including a host of large tech companies that account for more than a fifth of the benchmark’s total weight: Facebook (FB) – Get the Class A report from Facebook, Inc., Microsoft (MSFT) – Get the report from Microsoft Corporation (MSFT), Apple (AAPL) – Get the Apple Inc. (AAPL) report, Amazon (AMZN) – Get the Amazon.com, Inc. report and Google’s parent alphabet (GOOGL) – Get the Class A report from Alphabet Inc..
With 117 companies reporting to date, the collective profits of the S&P 500 are expected to increase 34.8% from a year ago to $ 430.3 billion.
The loaded list will likely occupy the markets’ attention even as Federal Reserve policymakers call for changes in the central bank’s approach to inflation amid faster and longer-than-expected inflation rates. , spurred by supply shortages, soaring energy prices and continued tension. in the labor market.
On Wall Street, futures contracts linked to the Dow Jones Industrial Average show an opening bell low of 3 points, while those linked to the S&P 500 are valued for a gain of 3 points.
Futures contracts linked to the tech-driven Nasdaq Composite show a 35 point bullish move as benchmark 10-year Treasury yields hold 1.657%.
2. – China warns of wave of Delta infections
After warning of a winter spike in coronavirus infections in the coming weeks, China has taken another round of measures to limit travel and trade in Ejin, near Inner Mongolia, a hotspot of infections. in the second largest economy in the world.
China’s National Health Commission warned over the weekend that Delta variant infections, which have already spread to 11 different provinces across the country, will worsen in the coming weeks, and called on the government to take action. emergency to slow it down as the nation prepares for the 2022 Winter Olympics in February.
The NHC also noted that about 75.6% of China’s population, or just over 1.06 billion people, had received at least one dose of the five vaccines used by authorities to slow the spread of the disease.
3. – PayPal says it is not interested in Pinterest
Pinterest (PINS) – Get a Class A Pinterest, Inc. report stocks fell sharply in pre-market trading after PayPal (PYPL) – Get the report from PayPal Holdings Inc, which was linked to a $ 45 billion takeover of the social media group last week, said he was not suing the group.
âIn response to market rumors about a possible acquisition of Pinterest by PayPal, PayPal has said it is not pursuing the acquisition of Pinterest at this time,â the payments group said in a brief statement on its website Sunday. Web. Bloomberg News reported last week that PayPal was set to approach the group at $ 70 a share.
Pinterest shares fell 11.3% in pre-market trading to indicate an opening bell price of $ 51.50 each, a move that would extend the share’s year-to-date decline to around 21.9%. PayPal shares jumped 6.5% to $ 256.00 each.
4. – Tesla withdraws FSD Beat software due to “problems”
You’re here (TSLA) – Get the Tesla Inc report shares rose in pre-market trading as the automaker canceled a beta of its autonomous driving software less than a day after its launch.
Tesla said version 10.3 of its Full Self-Driving (FSD) beta software triggered false warnings for drivers over the weekend, with some users reporting that it applied their vehicles’ brakes for no reason.
âSeeing some issues with 10.3, so going back to 10.2 temporarily,â Founder and CEO Elon Musk said on Sunday via his verified Twitter account. “Please note that this is to be expected with beta software. It is impossible to test all hardware configurations under all conditions with internal quality control, hence a public beta.”
Tesla shares rose 2.42% in pre-stock trading on Monday to indicate an opening bell price of $ 931.70 each, a historic high that would carry the share’s gain since the start of the l year at about 25%.
5. – Tom Brady first to pass for 600 touchdowns
Tampa Bay Buccaneers quarterback Tom Brady added another item to his growing list of NFL records over the weekend by becoming the first player to throw 600 touchdowns in a career.
Brady, 44, hit the historic milestone with just 10 seconds left in the first quarter of a 39-3 loss to the Chicago Bears when he threw a 9-year-old touchdown pass to his favorite receiver, Mike Evans – who quickly threw the ball to a fan in the Raymond James Stadium end zone.
A Bucs official quickly recovered the ball – handing the lucky fan a replacement – and Brady then threw three more touchdown passes to lead his team to a 6-1 start, the best in franchise history.
âI just think of all the guys who share it with me,â Brady said. âThis is the reality. There is nothing in this sport that you do on your own. It is the ultimate team sport. It challenges you physically, mentally, emotionally, every week, every day to training – it’s not a sport you can just mail in. “