10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, GPS, TSLA)
Here is what you need to know and this is what traders are talking about.
Jerome Powell speaks at Jackson Hole. But three of the world's most important central bankers — European Central Bank President Mario Draghi, Bank of England Governor Mark Carney, and Bank of Japan Governor Haruhiko Kuroda — won't be in attendance.
China takes another step towards opening up its financial markets. The China Banking and Insurance Regulatory Commission on Friday scrapped foreign ownership limits for banks and bad-debt managers, Bloomberg says.
Turkey's economic crisis has gone off the radar — but there's a huge chance it could get a whole lot worse. The recent 25% plunge in the value of the Turkish lira has caused credit growth to slow sharply, posing as a significant risk to the country's economy, HSBC economist Melis Metiner says.
There's a 'boogeyman in the housing market' that's making it tougher for Americans to own homes. Americans are spending the most money in almost a decade on mortgage payments as a share of their incomes, according to Morgan Stanley.
A major Tesla investor is urging Elon Musk not to take the company private. ARK Investment Management — which owns 580,000 shares of Tesla, worth roughly $163.84 million — says Tesla's stock price could be worth $4,000 a share but that it'll never get there on private markets.
Gap stumbles as same-store sales see a bigger-than-expected drop. Shares fell nearly 7% in after hour's trading on Thursday after the retailer said same-store sales in the second quarter fell 5%, worse then the 2.55% drop that was expected, Reuters reports.
Eventbrite is going public. The ticketing website didn't say how much money it hopes to raise, but that it will use the proceeds from an initial public offering to increase its capitalization and financial flexibility and to pay off its debt, which currently stands at $66.36 million, according to an S-1 filing out Thursday.
Stock markets around the world are higher. Japan's Nikkei (+0.85%) posted solid gains in Asia and Britain's FTSE (+0.22%) leads in Europe. The S&P 500 is set to open up 0.23% near 2,863.
Earnings reporting is light. Foot Locker reports ahead of the opening bell.
US economic data trickles out. Durable goods orders will be released at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.84%.
China takes another step towards opening up its financial markets. The China Banking and Insurance Regulatory Commission on Friday scrapped foreign ownership limits for banks and bad-debt managers, Bloomberg says.
Turkey's economic crisis has gone off the radar — but there's a huge chance it could get a whole lot worse. The recent 25% plunge in the value of the Turkish lira has caused credit growth to slow sharply, posing as a significant risk to the country's economy, HSBC economist Melis Metiner says.
There's a 'boogeyman in the housing market' that's making it tougher for Americans to own homes. Americans are spending the most money in almost a decade on mortgage payments as a share of their incomes, according to Morgan Stanley.
A major Tesla investor is urging Elon Musk not to take the company private. ARK Investment Management — which owns 580,000 shares of Tesla, worth roughly $163.84 million — says Tesla's stock price could be worth $4,000 a share but that it'll never get there on private markets.
Gap stumbles as same-store sales see a bigger-than-expected drop. Shares fell nearly 7% in after hour's trading on Thursday after the retailer said same-store sales in the second quarter fell 5%, worse then the 2.55% drop that was expected, Reuters reports.
Eventbrite is going public. The ticketing website didn't say how much money it hopes to raise, but that it will use the proceeds from an initial public offering to increase its capitalization and financial flexibility and to pay off its debt, which currently stands at $66.36 million, according to an S-1 filing out Thursday.
Stock markets around the world are higher. Japan's Nikkei (+0.85%) posted solid gains in Asia and Britain's FTSE (+0.22%) leads in Europe. The S&P 500 is set to open up 0.23% near 2,863.
Earnings reporting is light. Foot Locker reports ahead of the opening bell.
US economic data trickles out. Durable goods orders will be released at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.84%.
News Credit: Pulse.ng
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