Tesla, Lucid, Bitcoin, Amazon, Apple: 5 things to know

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Here are five things you need to know for Monday, July 26:

1. – Stock futures ahead of a week filled with tech earnings and the Fed

Stock futures fell on Monday as Wall Street braced for a big week of gains from Apple (AAPL) – Get Report, Amazon (AMZN) – Get Report, Microsoft (MSFT) – Get Report, Tesla (TSLA) – Get Report and Alphabet (GOOGL) – Get a report and policy update from the Federal Reserve.

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Sentiment early Monday was shaken by growing repression of the tech sector by China and a statement from Beijing that US-China relations were “now at an impasse and facing serious difficulties” as high-level talks were starting.

Dow Jones Industrial Average contracts fell 111 points, S&P 500 futures fell 10 points, and Nasdaq futures fell 23 points.

The benchmark 10-year Treasury index yield fell to 1.241% on Monday morning as investors waited for the Federal Reserve’s stimulus outlook. The two-day central bank meeting begins Tuesday and ends Wednesday with a policy statement and press conference by Fed Chairman Jerome Powell.

Stocks closed in record territory on Friday, with the Dow Jones closing above 35,000 for the first time, as earnings optimism boosted Wall Street sentiment.

The S&P 500 rose 1.9% for the week and the Nasdaq gained 2.8%. The Dow Jones rose 1% for the week.

“After a brief scare (last) Monday, the risk return trade came back with a vengeance. Despite the initial number of higher than expected jobless claims earlier in the week, the markets were not discouraged,” he said. said Anu Gaggar, head of global investment. strategist for Commonwealth Financial Network.

“To some extent, somewhat less bullish economic news is good news for the market as it indicates the Fed is right and interest rates are staying low longer. Bullish tech company earnings figures added. fuel the fire, ”Gaggar said. added.

2. – Calendar of results for this week: Tesla, Apple, Microsoft, Alphabet and Amazon

Earnings reports are due Monday from Tesla (TSLA) – Get Report, Lockheed Martin (LMT) – Get Report, Check Point Software (CHKP) – Get Report and Hasbro (HAS) – Get Report.

Analysts expect Tesla, the electric vehicle company, to report second-quarter profit of 94 cents a share on revenue of $ 11.53 billion.

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Later in the week reports are expected from Apple (AAPL) – Get Report, Microsoft (MSFT) – Get Report, Alphabet (GOOGL) – Get Report, Visa (V) – Get Report, United Parcel Service (UPS) – Get Report, Starbucks (SBUX) – Get Report, 3M (MMM) – Get Report, General Electric (GE) – Get Report, Advanced Micro Devices (AMD) – Get Report, Facebook ( FB) – Get Report, Ford (F) – Get Report, PayPal (PYPL) – Get Report, Pfizer (PFE) – Get Report, Shopify (SHOP) – Get Report, McDonald’s (MCD) – Get Report report, Qualcomm (QCOM) – Get report, Bristol Myers (BMY) – Get report, Boeing (BA) – Get report, Amazon.com (AMZN) – Get report, Mastercard (MA) – Get report, Comcast (CMCSA) – Get Report, Merck (MRK) – Get Report, Caterpillar (CAT) – Get Report, AbbVie (ABBV) – Get Report, Chevron (CVX) – Get Rap port, Exxon Mobil (XOM) – Get report, Procter & Gamble (PG) – Get reportPG and T-Mobile (TMUS) – Get report.

Apple, Amazon, Advanced Micro Devices, Boeing, Bristol Myers, Facebook, Ford, Alphabet, Microsoft, PayPal and United Parcel Service are part of Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the shares? Find out more now.

3. – The Federal Reserve’s policy update is expected on Wednesday

The U.S. economic calendar on Monday includes new home sales for June at 10 a.m. ET.

Data is expected later in the week on durable goods, consumer confidence, jobless claims, gross domestic product, personal income and consumer spending.

The Federal Reserve’s policy statement will be released at 2 p.m. ET on Wednesday, with Fed Chairman Jerome Powell’s press conference scheduled to begin at 2:30 p.m. ET.

4.- Bitcoin Rises On Amazon Speculation To Enter The Crypto Sector

Bitcoin prices rose solidly on Monday amid speculation that Amazon could enter the cryptocurrency business.

The world’s largest digital currency rose more than 10% to $ 38,121. It has grown 31.62% so far this year, according to CoinDesk.

Amazon has released a listing for a digital currency and blockchain product manager, hinting at potential crypto integration in the future.

The description called for someone who can “own the vision and strategy for Amazon’s digital currency and blockchain strategy and product roadmap,” as well as someone who has ” an in-depth understanding of the digital / cryptocurrency ecosystem and associated technologies “.

The news on Amazon follows positive Bitcoin comments last week from Tesla CEO Elon Musk, Cathie Wood of ARK Investment Management and Twitter (TWTR) – Get Report and Square (SQ) – Get Report CEO Jack Dorsey .

5. – Lucid Motors is ready for its debut in the business

Shares of electric vehicle start-up Lucid Motors will debut on Nasdaq on Monday under the symbol “LCID”.

The listing follows the close on Friday of the merger between the special purpose acquisition company Churchill Capital (CCIV) – Get Report and Lucid Motors. The companies gathered enough shareholder votes to close the deal after extending the voting deadline. Reports indicated that Churchill was struggling to win shareholder support.

Churchill Capital will be delisted from the New York Stock Exchange.

“We are delighted to complete our business combination with Churchill IV and become a public company,” said Peter Rawlinson, CEO and CTO of Lucid. “Lucid has further increased its momentum as we prepare to make the first customer deliveries of our Lucid Air line of electric sedans later this year.”

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