Here are the top news, trends, and analysis investors need to start their trading day:
1. S&P 500 stock futures slightly higher, Dow closes on records
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Stock futures were slightly higher on Friday morning, the day after the Dow Jones Industrial Average and S&P 500 closed again at all-time highs. The 30-strong Dow rose 14.88 points on Thursday to end the trading day on a record 35,499.85. The broad S&P 500 gained 0.3% to close at a record high of 4,460.83. The indices enter the Friday session by 0.8% and 0.6% respectively for the week. The Nasdaq Composite rose 0.3% on Thursday, bringing the tech-heavy index down 0.1% so far this week. The benchmark 10-year government bond yield was slightly lower on Friday morning, falling two basis points to 1.344%.
2. Disney stocks rise after better than expected earnings
Visitors walk along Paradise Gardens Park during Touch of Disney at Disney California Adventure in Anaheim, California on Thursday, March 18, 2021.
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Shares in the Dow component Disney rose more than 5% in early trading on Friday as Wall Street cheered the media and entertainment giant’s third-quarter financial results. Disney’s quarterly revenue of $ 17.02 billion surpassed analyst expectations of $ 16.76 billion, while earnings per share of 80 cents exceeded forecasts of 55 cents, according to Refinitiv. The company’s flagship streaming service, Disney +, ended the quarter with 116 million subscribers, more than the 114.5 million analysts expected according to StreetAccount. Disney’s Parks, Experiences and Products division also posted a profit in the third quarter, the first since the coronavirus pandemic began early last year.
3. FDA approves booster vaccination against Covid for immunocompromised people
A nurse gives the Covid-19 vaccine at a baseball game on August 5, 2021 in Springfield, Missouri. According to the latest figures from the state health department, just over 4 in 10 Missourians have received the Covid-19 vaccine.
Spencer Platt | Getty Images
The Food and Drug Administration approved booster coronavirus vaccines for people with compromised immune systems late Thursday. The final go-ahead for these third vaccinations of Pfizer BioNTech or Moderna vaccines comes from the Centers for Disease Control and Prevention. The health authority’s vaccine advisory committee is due to meet on Friday and make a recommendation. Should this be approved by the CDC, booster vaccinations could be given immediately to immunocompromised people, providing those at risk with further protection from Covid. Cancer and HIV patients as well as organ transplant recipients are eligible.
While the FDA stressed that other fully vaccinated people are currently “adequately protected”, said Dr. White House chief medical officer Anthony Fauci said Thursday that it was “likely” that everyone will need a booster shot on the street.
4. Airbnb shares fall after warning of delta ramifications
John MacDoughall | AFP | Getty Images
Airbnb’s shares fell more than 3% in early Friday trading as investors digested the travel company’s second-quarter results and its warning of the potential impact of the Covid Delta variant. Revenue of $ 1.34 billion, according to Refinitiv, surpassed analyst projections of $ 1.26 billion, while the company lost 11 cents per share. Airbnb reported a 29% increase in nights and experiences booked compared to the previous quarter’s 83.1 million, while StreetAccount was forecasting 79.2 million. While Airbnb expects third-quarter revenue to be higher than ever, a letter to shareholders said concerns about the Delta option are likely to affect travel behavior.
5. USA sends 3,000 soldiers to evacuate Afghan embassy staff
Afghan security forces stand guard at a checkpoint in the Guzara district of Herat province, Afghanistan, July 9, 2021.
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The Pentagon will send 3,000 troops to Afghanistan to help evacuate US embassy personnel in the Afghan capital, Kabul, as Taliban insurgents advance towards the city. “This is a very closely focused mission to ensure the orderly reduction of civilian personnel from Afghanistan,” Pentagon spokesman John Kirby said during a press conference on Thursday. The US still expects to fully withdraw all troops by August 31, Kirby said, as part of the process to end America’s longest war that began in April. According to Reuters, the Taliban took control of the second and third largest cities in Afghanistan on Friday. As of August 6, the Taliban have taken control of 14 of the country’s 34 provincial capitals.
– Reuters contributed to this report. Follow the whole market like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.