| What to watch today: Nasdaq set for strong gain to start September | | |  | TUE, SEP 01, 2020 | | | | AS OF TUE, SEP 01, 2020 • 08:11 ET | | Dow Jones Fut | | 28,430.05 | | Current: | 28,398.00 | | Change: | -18.00 | | Impl. Open: | -7.05 | | | S&P 500 Fut | | 3,500.31 | | Current: | 3,506.00 | | Change: | 7.00 | | Impl. Open: | 8.29 | | | NASDAQ 100 Fut | | 12,110.70 | | Current: | 12,221.00 | | Change: | 107.00 | | Impl. Open: | 113.30 | | | Russell 2000 Mini | | 1,561.88 | | Current: | 1,560.70 | | Change: | -.60 | | Impl. Open: | .62 | | | On the first trading day after their stock splits, Tesla (TSLA) jumped 13% and Apple (AAPL) gained nearly 3.4%. Both closed at record highs. In Tuesday's premarket, Tesla added over 3% and Apple added about 2%. Tesla had been up nearly 7% earlier in the morning before the company said Tuesday it will sell up to $5 billion in stock. (CNBC) | | | | Shares of Zoom Video Communications (ZM) Shares soared more than 30% in the premarket after the company reported adjusted earnings of 92 cents per share, more than doubled estimates. Revenue of $663.5 million, which more than quadrupled, also handily beat expectations. Zoom, which has become ubiquitous during the coronavirus crisis, raised its full-year guidance. (CNBC) | | | | CNBC PRO subscribers are invited to join a live discussion tomorrow with Walter Price of Allianz, whose funds have been among the top performers in the tech space over the long term. RSVP here. | New U.S. cases of coronavirus fell to 33,888, the lowest daily number since June 23. However, as overall cases trend lower, new infections are up by at least 5%, based on a seven-day average, in 26 states as of Sunday, compared with just 12 states a week earlier. Many of the recently growing outbreaks are in the Midwest. (CNBC)
Total cases in the U.S. topped 6 million on Monday. The tally of cumulative global cases was more 25.5 million as of Tuesday morning with 850,879 deaths. Nearly a quarter of worldwide cases and fatalities are in the U.S. On Monday, 595 people died from Covid-19 in the U.S., down from a stretch of daily U.S. deaths of over 1,100 on Tuesday, Wednesday and Thursday of last week. (JHU data)
* Expect Trump to talk less about the pandemic closer he is to the election, political strategists say (CNBC)
* White House suppressed coronavirus reports and downplayed virus, House panel says (CNBC)
* Nearly 3 in 4 adults plan to get vaccinated against the coronavirus, global survey shows (CNBC)
* CNBC + Acorns survey: How the pandemic has upended the financial lives of average Americans | | | | Shares of Walmart, which hit an all-time high Friday, were up in premarket trading after the retail giant said it will launch its much-anticipated membership program on Sept. 15. Walmart+, similar to Amazon Prime, will give members free delivery and some other perks. However, Prime goes way beyond Walmart+ on services in additional to free delivery such as ad-free video and music streaming services. (CNBC) | | | | More than 50 former McDonald's franchisees are suing the fast-food giant for racial discrimination, alleging it denied them the same opportunities as White operators and pushed them out of the system. The 52 plaintiffs, who are all Black, claim that McDonald's violated federal antidiscrimination law and breached their contracts. (CNBC) | | | | French drugmaker Sanofi (SNY) said its rheumatoid arthritis drug Kevzara did not prove effective against Covid-19, with the treatment failing to significantly shorten hospital stays for patients in a 420-person study. | | | | Ford Motor (F) is planning to cut 1,000 salaried jobs in North America, according to a Bloomberg report. People familiar with the matter said the announcement could come this week, as Ford tries to improve its efficiency. | | | | Hedge fund D.E. Shaw now has a 5.2% stake in Eastman Kodak (KODK), according to a Securities and Exchange Commission filing. Kodak shares have been extremely volatile in recent weeks, after the company was granted a government loan to produce drug ingredients. The loan was later put on hold amid a probe involving disclosure of the loan. | | | | Schlumberger (SLB), the oilfield services company, will merge its North American fracking business with Liberty Oilfield Services (LBRT), and will hold a 37% stake in the newly combined company. The deal comes amid a significant drop in oilfield services activity amid the pandemic and slumping energy consumption. | | | | Hawaiian Holdings (HA), the parent of Hawaiian Airlines, notified 400 pilots and flight attendants of upcoming job cuts. The workers will be furloughed on Oct. 1, following the expiration of government assistance for the airline industry. | | | | Gogo (GOGO), the provider of inflight broadband and entertainment, announced a deal to sell its commercial aviation business to satellite operator Intelsat for $400 million in cash. | | | | Apple (AAPL) is asking suppliers to build at least 75 million 5G iPhones for a planned launch later this year, according to sources who spoke to Bloomberg. | |  | | |
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