U.S. stocks hold steady after record run, while Disney surges in premarket after blowout results

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U.S. banal futures were edging higher up of Friday’s open, arsenic investors digest 3rd consecutive grounds closes for the Dow industrials and S&P 500, with import prices and a user sentiment survey ahead. Shares of Walt Disney were climbing successful premarket aft better-than-expected results.

How are markets trading?
  • Dow Jones Industrial Average futures YM00, +0.15% roseate 0.1% to 35,451
  • S&P 500 futures ES00, +0.07% were modestly higher astatine 4,458
  • Nasdaq-100 futures NQ00, +0.03% were besides inching up astatine 15,085.25

Thursday marked the archetypal clip since Mar. 15, 2021 that some the Dow and S&P 500 closed astatine a grounds for 3 consecutive days. The Dow industrials DJIA, +0.04% closed up 14.88 points oregon 0.04% to 35499.85, the S&P 500 SPX, +0.30% finished the time up 13.13 points oregon 0.30% to 4460.83, and the Nasdaq Composite COMP, +0.35% roseate 51.13 points oregon 0.35% to 14816.26.

What’s driving the market?

Investors person been inspired by information this week, specified arsenic tame user prices and a autumn successful play jobless claims connected Thursday, that helped substance different grounds session. That’s arsenic markets proceed to intimately ticker the fast-spreading delta variant of coronavirus and its imaginable effects connected planetary recoveries and reopenings.

More information are up for Friday successful the signifier of July import prices and a preliminary August University of Michigan user sentiment survey.

“With a quiescent league and nary large macro releases, we expect a debased volatility league with an effort to acceptable caller highs successful the S&P 500 oregon retreat mildly into the weekend,” said Steen Jakobsen, main concern serviceman astatine Saxo Bank, successful a enactment to clients.

The U.S. Food and Drug Administration late Thursday authorized an other COVID-19 changeable for those with compromised immune systems, but didn’t confirm media reports that it would update emergency-use authorizations for the Pfizer PFE, +2.01% and Moderna MRNA, +1.58% COVID-19 vaccines.

There were caller concerns surrounding China, which has been battling to support caller outbreaks nether control. Officials shut down the Meishan Terminal of China’s Ningbo-Zhoushan Port, the world’s biggest by tonnage shipped, which serves North America and Europe, owed to a COVID-19 case.

“Those ripples won’t conscionable beryllium felt successful China but besides globally. The interaction has been astir noticeable successful determination banal markets with a precocious beta to commercialized and China,” said Jeffrey Halley, elder marketplace expert astatine Oanda, successful a enactment to clients.

Which companies are successful focus?
  • Shares of Walt Disney Co. DIS, +0.67% climbed 5% successful premarket, aft the media and amusement elephantine reported its strongest income and nett since pre-pandemic and forecast-beating caller subscriber numbers for its streaming service.
  • ContextLogic Inc. WISH, -4.27% shares fell 19% successful premarket trading, aft the genitor of e-commerce tract Wish reported slowing demand for its products, little enactment connected its level and higher-than-expected costs.
  • Airbnb Inc. ABNB, +2.02% shares are down 3%, aft the lodging-booking institution said second-quarter gross astir quadrupled to $1.3 billion, beating analysts’ forecasts, but failed to springiness circumstantial guidance.
  • DoorDash Inc. DASH, -1.23% shares fell 5%, aft the online food-ordering radical reported grounds bid measurement and full orders successful the 2nd quarter, but forecast weakness successful the 3rd quarter.
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