Here are 5 things you indispensable cognize for Tuesday, July 20:
1. -- Stock Futures Indicate a Modest Recovery From Monday's Rout
Stock futures traded higher Tuesday, indicating Wall Street volition claw backmost immoderate losses from Monday's selloff arsenic investors turned their attraction to a slew of net reports.
Contracts linked to the Dow Jones Industrial Average roseate 205 points, S&P 500 futures were up 21 points and Nasdaq futures gained 75 points.
The output connected the benchmark 10-year Treasury fell Tuesday to 1.179%. It fell beneath 1.2% connected Monday to the lowest levels since February arsenic investors moved into safe-haven assets.
Stocks plummeted Monday arsenic Wall Street weighed what interaction rising COVID-19 cases whitethorn person connected the economical betterment successful the U.S. and globally. The Dow dropped much than 700 points, its worst diminution since October.
"Valuations crossed the marketplace arsenic a full had go stretched and we were owed for a pullback, but galore of the cyclical companies are selling disconnected connected fears that COVID volition halt the betterment successful its tracks," said Chris Zaccarelli, main concern serviceman for Independent Advisor Alliance.
"We don’t judge that that’s the lawsuit and are consenting to fto the selloff tally its people and bargain the dip connected the content that the system volition afloat retrieve and instrumentality to its anterior maturation trajectory, bringing astir of the cyclical companies successful the airline, question and leisure industries on with it," Zaccarelli added.
Benchmark U.S. crude roseate 0.63% to $66.84 a tube aboriginal Tuesday aft tumbling connected worries a resurgence of COVID-19 would sap vigor demand.
2. -- Tuesday's Calendar: Netflix and Chipotle Earnings
Earnings reports are expected Tuesday from Netflix (NFLX) - Get Report, Philip Morris (PM) - Get Report, Intuitive Surgical (ISRG) - Get Report, United Airlines (UAL) - Get Report, Chipotle Mexican Grill (CMG) - Get Report and Travelers (TRV) - Get Report.
The economic calendar successful the U.S. Tuesday includes Housing Starts and Permits for June astatine 8:30 a.m. ET.
3. -- Jeff Bezos Prepares for Liftoff
Jeff Bezos, the laminitis and enforcement president of Amazon.com (AMZN) - Get Report and the richest antheral connected Earth, volition beryllium leaving coagulated crushed Tuesday connected a formation to space.
Bezos's Blue Origin space-flight startup volition blast him and 3 different abstraction tourists 66 miles supra Earth successful a afloat autonomous rocket and capsule.
Bezos volition beryllium accompanied by his member Mark; Mary Wallace Funk, an aviation pioneer who astatine 82 volition beryllium the oldest idiosyncratic to spell into space; and Oliver Daemen, who astatine 18 volition beryllium the youngest idiosyncratic to ever spell into space.
"We'll beryllium gathering a roadworthy to abstraction for the adjacent procreation to bash astonishing things, and those astonishing things volition amended things present connected Earth," Bezos said astatine a quality league astatine Launch Site One successful Van Horn, Texas. "We truly judge this formation is safe."
Livestream sum of the formation tin beryllium recovered connected Blue Origin's website beginning astatine 7:30 a.m. ET. Liftoff is scheduled for 9 a.m.
4. -- Nvidia's Stock Outperforms
Nvidia (NVDA) - Get Report was rising successful premarket trading Tuesday, a time aft the chipmaker rose portion galore of its competitors fell successful Monday's marketplace swoon.
Nvidia's banal volition beryllium split 4-for-1 connected Tuesday.
Shares of Nvidia roseate 0.88% to $189.45 aboriginal Tuesday aft jumping 3.41% during the erstwhile session.
The banal has risen astir 80% implicit the past year, giving it a marketplace worth of astir $453 billion. That is much than rivals Intel (INTC) - Get Report and Broadcom (AVGO) - Get Report combined, a communicative successful The Wall Street Journal noted.
Analysts person piled connected the praise for Nvidia since the company’s first-quarter earnings, which were amended than expected.
TheStreet's Brent Kenwell wrote earlier this period that aft a caller decline Nvidia shares represented a buy-the-dip candidate.
5. -- Apple Delays a Return to Offices
Apple (AAPL) - Get Report reportedly has pushed backmost the day it expects employees to instrumentality to the tech giant's offices due to the fact that of a resurgence of COVID variants crossed galore countries.
Apple has extended the deadline by at slightest a period to October astatine the earliest, Bloomberg reported, citing people acquainted with the matter.
CEO Tim Cook had said successful June that employees should statesman returning to offices successful aboriginal September for astatine slightest 3 days a week.
But that directive has changed with the iPhone shaper becoming 1 of the archetypal U.S. tech giants to hold plans for a instrumentality to the office. Apple volition springiness its employees astatine slightest a month’s informing earlier mandating a instrumentality to offices, radical told Bloomberg.
The banal gained 0.39% successful premarket trading to $143. Shares fell 2.69% connected Monday.