Stay Ahead of the Curve: 5 Important Updates Before Thursday’s Stock Market Kickoff 📆
1️⃣ Dow’s Remarkable Streak: The Dow Jones continues its impressive 13 positive sessions, a feat not seen on Wall Street since 1987. If it hits 14 on Thursday, it’ll tie a record dating back to 1897, shortly after its creation. The recent win followed the Federal Reserve’s benchmark rate increase, with Chairman Jerome Powell highlighting the need for further progress while leaving the possibility of holding steady at the September policy meeting open.
2️⃣ McDonald’s Victory: McDonald’s success is attributed to a viral promotional campaign featuring its big, purple mascot, Grimace. The campaign drove customers to the company’s restaurants, contributing to a strong quarter. Sales saw growth across the board, with China rebounding, and the United Kingdom and Germany showing robust sales growth. In the U.S., the company’s largest market, sales surged by 10.3% in the quarter.
3️⃣ Meta’s Strong Showing: Mark Zuckerberg’s Meta exceeded Wall Street’s estimates in its Wednesday earnings report. Investors were particularly impressed with its guidance for the current quarter, surpassing analysts’ expectations. Facebook’s digital advertising revenue rebounded, driven by Chinese companies and online retailers, as stated by Meta’s CFO Susan Li. Despite metaverse business losses, Meta’s stock rose by 8% in extended trading, already up by 160% this year.
4️⃣ Shell’s Declining Profit: Oil giant Shell reported a significant profit decline in Q2 due to falling global commodity prices. While expected, the adjusted profit figure of $5.1 billion fell short of the $6 billion estimate. French oil giant TotalEnergies also reported a notable drop in earnings, with CEO Patrick Pouyanne noting a “favorable but softening oil and gas environment.”
5️⃣ Comcast Beats Expectations: Despite cord-cutting and slowing broadband growth, Comcast, the cable, and entertainment giant, achieved another profitable quarter, exceeding Wall Street’s expectations. The fledgling streaming service, Peacock, incurred financial losses despite increasing subscribers. However, Comcast’s theme parks performed well, with Super Nintendo World boosting attendance in Hollywood, though revenue at its Orlando, Florida park experienced a slight dip. (Disclosure: Comcast owns NBCUniversal, CNBC’s parent company).”