MARKETS
Investing and Investments
U.S. stock futures are higher amid mixed corporate earnings after the market closed.
Software analytics firm Palantir reported better-than-expected quarterly results, but restaurant chain Denny’s and Hims & Hers Health posted disappointing results.
At 6:10 a.m. ET, futures linked to the blue-chip Dow added 0.14%, while broad S&P 500 futures rose 0.17% and tech-heavy Nasdaq futures gained 0.23%.
The stock market’s moves come after posting its largest daily percentage gain since May 27 on hopes for a Federal Reserve rate cut soon and easing trade relations.
Corporate news
- Palantir’s fiscal third-quarter results beat analysts’ forecasts, with revenue surpassing $1 billion for the first time. The software analytics provider also lifted its full-year sales outlook.
- Hims & Hers Health missed second-quarter estimates and guided for below-forecast third-quarter results.
- Vertex Pharmaceuticals topped second-quarter estimates but warned iit won’t progress its next-generation pain treatment, VX-993 after the pain treatment failed to meet its primary endpoint in Phase 2.
- Denny’s earnings fell below Wall Street’s expectations and same-store sales dropped in the second-quarter amid continued worries about U.S. consumer spending.
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Cryptocurrency
David Bailey, Bitcoin adviser to President Donald Trump, wants to raise $200 million for a political action committee to advance Bitcoin’s interests in the United States. He said he wants to use the PAC to send Bitcoin to $10 million.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at [email protected] and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
