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Wall Street gains slightly to start the week
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Results season moves into full swing
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Attention turns to results: Bank of America, Morgan Stanley and Goldman Sachs, United Airlines, Las Vegas Sands, Tesla and Netflix.
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Microsoft and Sony sign deal to maintain sales of 'Call of Duty' series on Sony PlayStation consoles
The start of this week's first trading session on Wall Street has seen moderate rises in the major stock market benchmarks. The NASDAQ is currently gaining 0.44%, with the S&P 500 adding 0.15%. Interestingly, the VIX index is adding close to 3.5%, indicating the heightened volatility prevailing in US companies.
The second quarter earnings season is gaining momentum this week with results from large financial institutions such as Bank of America, Morgan Stanley and Goldman Sachs. Results are also expected from United Airlines, Las Vegas Sands and tech giants Tesla and Netflix.
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This week's results calendar. Source: xStation5
S&P 500 Index categorised by sector and industry. Size indicates market capitalisation. Source: xStation5
The US500 Index is gaining nearly 0.15% at the start of today's session. Source: xStation 5
Company news
Ford Motors (F.US) announced on Monday significant price reductions on all versions of its F-150 Lightning electric pickup truck. The cheapest version of the Lightning will now cost around US$50,000, approximately US$10,000 less than before. Other versions of the vehicle (extended versions) will receive price reductions of at least USD 6,000. The reason for the discounts is the company's planned increase in production.
Activision Blizzard (ATVI.US) shares rose 4% after Microsoft and Sony signed an agreement to maintain sales of the 'Call of Duty' series on Sony PlayStation consoles following Microsoft's acquisition of Activision Blizzard.
Source: xStation 5
Shares of Chewy (CHWY.US) rose more than 5% after Goldman Sachs upgraded its recommendation on the company's stock to a 'buy' rating from its previous 'neutral' rating. The firm said the company has an attractive risk-reward profile and margins could increase. The target price was increased from $42 to $50.
Tesla (TSLA.US) shares added nearly 2.5 per cent early in today's session. On Saturday, the company announced that it had built its first "Cybertruck" vehicle after two years of delays
Source: xStation
Paramount Global (PARA.US) shares fell 2.8 per cent early in the session after the latest instalment in the 'Mission: Impossible' franchise failed to meet expectations at the box office. The film earned $56.2 million in the US during its first weekend, lower than the previous film in the series, which earned $80 million over the same period.
Source: xStation 5
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