Traders on the floor of the NYSE, August 24, 2022.
Here are the top news investors need to start their trading day:
Stock futures it pointed to a higher opening Thursday after a positive Wednesday for the three main US indices. Markets are looking to get back on track heading into September after the summer rally lost some momentum this month. Investors are eager for clues about what the Federal Reserve will do at its meeting next month in its fight against inflation. A few days of remarks from Federal Reserve spokesmen in Jackson Hole, Wyoming, starting Thursday could scratch that itch. Fed Chairman Jerome Powell is scheduled to speak on Friday.
The losses continue to pile up Pelotonthe fitness equipment manufacturer that became a phenomenon in A covid pandemic Lockdowns only bottomed out and then some as people started to leave their homes again. On Thursday, the company released its Sixth consecutive quarter of reported losses as the founder of sales and its gross margin reached an astonishing negative 98.1% in the fiscal fourth quarter. (It was positive 11.7% in the year-ago period.) Peloton didn’t even bother to provide full-year guidance. The report came a day after investors celebrated the news that Peloton was starting to sell gear and apparel through Amazonmarking the company’s first such deal with another retailer.
Marc Benioff, CEO of Salesforce, at WEF in Davos, Switzerland on May 25, 2022.
Adam Galitsa CNBC
Creator of enterprise software SalesforceShares fell in after-hours trading after the company narrow your perspective for the year. “Almost everyone I’ve talked to is taking a more measured approach to their business,” company co-founder and co-CEO Marc Benioff said on a conference call with analysts. “We expect these trends to continue in the near term and have reflected this in our guidance.” Salesforce also approved a $10 billion share repurchase program. It is also raising prices for Slack, the team messaging app it acquired last year for $28 billion, as it became clear that hybrid work arrangements were here to stay.
Amazon Care is a pilot medical clinic for employees.
Amazon’s telehealth service, Amazon Care, will closed at the end of the year. This marks a major step backwards for Amazon, although its healthcare ambitions remain robust. Amazon Care helped the company understand “what is needed over the long term to deliver meaningful healthcare solutions for corporate and individual customers,” the service’s leader, Neil Lindsey, wrote in the note. The company struck a deal to acquire primary care provider One Medical last month, and that’s it reportedly bidding for Signify Health, a provider of home health services.
Apple event invitation for September.
September is just around the corner. That means it is An apple season. The tech giant sent on Wednesday space themed invitations at a big event Sept. 7, when it is expected to introduce the latest iPhones. Investors and consumers will be looking to see if Apple will raise its already premium prices given supply chain issues and inflation, CNBC’s Kiff Lesswing writes. Apple may also unveil a new Apple Watch at the event.
— CNBC’s Carmen Reinicke, Lauren Thomas, Jordan Novett, Annie Palmer and Kiff Lesswing contributed to this report.