Your Daily Rundown
The Dow Jones Industrial Average rose 151.49 points, or 0.43%, to 35,082.42, the S&P 500 gained 18.31 points, or 0.42%, to 4,418.95 and the Nasdaq Composite added 15.67 points, or 0.11%, to 14,778.26.
About half of the S&P 500 companies had reported second-quarter earnings as of Thursday morning. Nearly 91% of those companies beat profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.
Robinhood shares changed hands at $38 each on their Nasdaq debut Thursday and immediately slumped. The popular, yet controversial, online trading app finished down 8.37%.
Ford Motor rose after the carmaker lifted its 2021 forecast following a surprise second quarter profit that defied supply constraints linked to the global semiconductor shortage.
Facebook shares slipped after the social media giant posted stronger-than-expected second quarter earnings, but noted that ad revenue growth would slow “significantly” over the second half of the year.
PayPal Holdings fell after the payments processor offered disappointing guidance for its fiscal third-quarter even as it topped earnings estimates for the second quarter but missed revenue forecasts.
The Labor Department said that weekly jobless claims fell by 24,000 to 400,000, down from the previous week’s revised estimate of 424,000 claims. Analysts were forecasting 380,000 claims.
The yield on the benchmark 10-year Treasury rose Thursday to 1.276%.
Yesterday’s Market Scorecard
NASDAQ (COMP) 14,778.26
S&P 500 (SPX) 4,419.15
Dow Jones (DJIA) 35,084.53
Russell 2000 (RUT) 2,240.03
The News Desk
Scarlett Johansson Sues Disney Over ‘Black Widow’ Streaming Release
The Marvel star filed a lawsuit Thursday in Los Angeles Superior Court, alleging her contract was breached when the company released “Black Widow” on its streaming service Disney+ at the same time it debuted in theaters.
Johansson claims her agreement with Disney’s Marvel Entertainment guaranteed an exclusive theatrical release for her solo film, and her salary was based, in large part, on the box office performance.
Representatives for Disney did not immediately respond for comment.
Going up against Disney’s lawyers may indeed give you a hard time
Senate Passes $2.1 Billion Capitol Security Funding Bill
The Senate passed a $2.1 billion Capitol security funding bill Thursday by a 98-0 vote. The legislation provides funding for the Capitol Police, the National Guard and other agencies to cover the costs incurred during the Jan. 6 Capitol riot.
The package includes $70.7 million in salaries and general expenses for the Capitol Police response to the riot, $300 million will go to infrastructure upgrades to the Capitol, $500 million for the Department of Defense.
Better late than never
Tsunami Warning In Effect For Parts Of The Alaskan Coast
The 8.2 magnitude earthquake that struck off Alaska’s coast Wednesday night was the strongest one since 1964.
The very strong quake was located about 56 miles (91 kilometers) east southeast of Perryville, Alaska, and happened around 10:15 p.m. Wednesday, the US Geological Survey said.
At 29 miles deep (46.7 km), the earthquake is considered shallow.
Fortunately, the quake did not result in any reported significant damage, thanks to its remote location and distance from inhabited placed.
We’re all safe
Upcoming Events on the Economic Calendar
And now a brief and well-organized look at the trading week ahead:
Friday, July 30th: Personal Income and Outlays (8:30 AM ET)
Trading Quote of The Day
“Focus, patience, wise discernment, non-attachment – the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.” – Yvan Byeajee