Posted on: August 9, 2021 Posted by: Betty Lee Comments: 0


Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow and S&P 500 set to open lower to start the week

Traders works at the New York Stock Exchange (NYSE), August 4, 2021.

Andrew Kelly | Reuters

Dow Jones Industrial Average and S&P 500 futures indicated a lower open for the benchmark indexes to kick off the new week. Dow futures dipped 81 points, or 0.2%, pointing to a decline of 83 points for the 30-stock index. S&P 500 futures lost 0.1%, indicating a slight opening loss. Nasdaq 100 futures pointed to marginal gains for the tech-heavy benchmark. Wall Street ended last week on a high note, as the Dow notched a record closing high on the back of a stronger-than-expected U.S. jobs report. To be sure, signs of the economy recovering at a fast pace could lead the Federal Reserve to start tapering its massive bond-buying program, which could pressure the market.

2. Judge rules Norwegian Cruise Line can require Florida travelers to show Covid vaccination proof

The Norwegian Cruise Line Holdings Ltd. Norwegian Bliss ship sits docked at the Ogden Point Cruise Terminal in British Columbia, Canada.

James MacDonald | Bloomberg | Getty Images

A federal judge granted a temporary injunction on a Florida law that prohibits businesses from requiring customers to show vaccination proof against Covid-19, cruise operator Norwegian Cruise Line said. The ruling allows for Norwegian Cruise Line to require passengers to present proof they are fully vaccinated against the virus. The ruling comes as the Norwegian Gem cruise is set to depart Miami on Sunday. It will be the company’s first trip leaving from Florida since the pandemic began. New Covid cases have been rising in the U.S. as the highly contagious delta variant across the country.

3. Berkshire Hathaway operating earnings jump 21%

Warren Buffett at Berkshire Hathaway’s annual meeting in Los Angeles California. May 1, 2021.

Gerard Miller | CNBC

Warren Buffett‘s Berkshire Hathaway posted an operating profit of $6.69 billion for the second quarter, marking a 21% surge from the same period a year prior. Those results were driven in part by Berkshire’s railroads, utilities and energy businesses seeing an earnings jump of more than 27% to $2.26 billion. The conglomerate also saw improvements in other businesses, such as homebuilders. To be sure, Berkshire acknowledged its second-quarter numbers look stellar because they are rebounding from a low base amid the pandemic. The company also said: “The extent of the effects over longer terms cannot be reasonably estimated at this time.”

4. Covid pandemic nowhere near over, epidemiologist says

Kim Dimaunahan, RN, left, and Courtney Herron, RN, right, are working in the covid unit inside Little Company of Mary Medical Center Friday, July 30, 2021 in Torrance, CA.

Francine Orr | Los Angeles Times | Getty Images

The world still has a long way to go before the Covid pandemic is over, since only a small portion of the global population has been vaccinated against the virus, according to famed epidemiologist Dr. Larry Brilliant. “I think we’re closer to the beginning than we are to the end [of the pandemic], and that’s not because the variant that we’re looking at right now is going to last that long,” Brilliant — who was part of a World Health Organization team that helped eradicate smallpox — told CNBC’s “Squawk Box Asia.” “Unless we vaccinate everyone in 200 plus countries, there will still be new variants.” Brilliant added the delta variant is potentially “the most contagious virus” ever.

5. Lionel Messi reportedly gets two-year deal offer from French club PSG

Lionel Messi holds an emotional FC Barcelona press conference.

Albert Gea | REUTERS



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