1. Dow 22,000: The Dow Jones industrial average is within spitting distance of 22,000 points. The U.S. index closed at a record high of 21,964 on Tuesday. U.S. stock futures are pointing up, indicating the Dow could surpass the 22,000-point mark in early trading.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +48.00 | | +48.00 | | +2.25 | | +0.22% | | +0.82% | | +0.09% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +94.25 | | -7.58 | | -20.54 | | 20,080.04 | | 3,285.06 | | 7,403.12 | | +0.47% | | -0.23% | | -0.28% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $49.07 | -0.09 / -0.18% | | | Gold | $1,272.20 | -7.20 / -0.56% | | | 10-yr | 2.25% | -0.04 / -1.79% | | | Euro | $1.18 | +0.00 / +0.18% | | | |
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| News: What you need to know about the markets | | | | | | | Dow nears 22,000; Apple defies gravity; AMC's scary preview | By Alanna Petroff
Wednesday, August 2nd, 5:27am | | | | 1. Dow 22,000: The Dow Jones industrial average is within spitting distance of 22,000 points. | | | | The U.S. index closed at a record high of 21,964 on Tuesday. U.S. stock futures are pointing up, indicating the Dow could surpass the 22,000-point mark in early trading. | | | | The S&P 500 and Nasdaq are also trading near record highs set in late July. | | | | European markets were mostly lower in early trading and Asian markets closed mixed. | | | | 2. Apple defies gravity: Shares in Apple are defying the laws of gravity (sorry Isaac Newton!). | | | | The stock is in position to set new records on Wednesday. Shares were up 6% in premarket trading after the tech giant released earnings on Tuesday afternoon. | | | | Investors are celebrating the company's outlook. Apple estimated that sales for its fourth quarter, which ends in September, could reach $52 billion, more than analysts had expected. | | | | That forecast suggested that Apple could launch its newest iPhone model -- expected to be called the iPhone 8 -- in September, despite earlier rumors of a possible delay. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. AMC's scary trailer: Investors in U.S. cinema chain AMC Entertainment have been spooked by an earnings warning. | | | | Shares in the company were dropping by about 24% premarket. | | | | The firm reported Tuesday afternoon that it had a very weak second quarter and was cutting costs. It expects to report a loss when final results come out next week. | | | | The company, controlled by Chinese billionaire Wang Jianlin, said the U.S. film industry had a "weaker than anticipated second quarter and [expects] a very challenging third quarter." | | | | 4. Earnings and economics: Groupon, Molson Coors Brewing, Mondelez International, Party City, Sinclair Broadcast, Sodastream and CNN parent company Time Warner will release earnings before the open Wednesday. | | | | Tesla, Sturm Ruger, AIG, CenturyLink, Cheesecake Factory, Fitbit, MetLife, Prudential, Square and Take-Two Interactive will follow after the close. | | | | On the economics side, the ADP's private payroll report at 8:15 a.m. ET could move markets. | | | | The report will give investors a look at the labor market prior to the release of the government jobs report due Friday. | | | | Economists expect the ADP report will show that the private sector added 190,000 jobs in July, according to Briefing.com. | | | | The U.S. Energy Information Administration will release weekly data on crude inventories at 10:30 a.m. Crude futures were trading around $49 per barrel, down from $50 per barrel on Tuesday. | | | | 5. Diesel summit in Germany: Germany's biggest automakers -- Volkswagen, BMW and Daimler -- are gathering with government ministers in Berlin for a 'diesel summit' on Wednesday. | | | | They'll discuss ideas on how to reduce diesel emissions as some German cities consider banning diesel cars. | | | | Stuttgart -- the home of Daimler's Mercedes-Benz and Volkswagen's Porsche -- is considering a ban on diesel cars as early as January 1. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday -- Earnings from CNN parent company Time Warner, Molson Coors Brewing and Tesla; Germany's auto industry holds 'diesel summit'
Thursday -- Earnings from Weight Watchers, Hyatt Hotels, Yum Brands, GoPro and Kraft Heinz
Friday -- U.S. Bureau of Labor Statistics releases monthly jobs and unemployment report | | | | | | | |
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