Here are the top news investors need to start their trading day:
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, June 30, 2022.
Brendan McDermid Reuters
U.S. stock futures fell on Tuesday, as investors worry about simmering geopolitical tensions between Beijing and Washington ahead of an expected visit by House Speaker Nancy Pelosi to Taiwan. Yield on government bonds also slipped on Tuesdaywith a benchmark 10-year Treasury traded as high as 2.516% as investors flocked to the perceived safety of US government debt. Shares in Mainland China and Hong Kong also fell on tuesday, and on yen, considered a safe-haven currency, further strengthened. Wall Street’s major stock indexes ended in the red on Monday, snapping a three-day losing streak.
Image of Speaker of the House Nancy Pelosi holding her weekly news conference on Capitol Hill Friday, July 29, 2022 in Washington, DC. US House Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, sources briefed on the matter said, as several Chinese warplanes flew near the median line dividing the Taiwan Strait, a source told Reuters.
Kent Nishimura Los Angeles Times | Getty Images
Chinese fighter jets flew near the median line in the Taiwan Strait, Reuters reported on Tuesday, citing a source. Beijing warned Pelosi against visiting Taiwan, a self-governing island that China claims as its territory. Pelosi is touring the region, but her expected visit to Taiwan has not been officially announced. Tensions between China and Taiwan are on the rise in the last years.
Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.
Philip Pacheco AFP via Getty Images
Shares of Uber Technologies jumped Tuesday after the ride-hailing and food delivery company said better than expected quarterly earnings. Uber’s second-quarter sales came in at $8.07 billion, well above analysts’ expectations of $7.39 billion, according to Refinitiv. However, Uber reported a net loss of $2.6 billion for the quarter, which included a $1.7 billion hit related to the revaluation of its investments in Grab Aurora and Zomato. Losses from operations in the quarter ended June 30 totaled $713 million, but the company posted positive free cash flow of $382 million. In May, CEO Dara Khosrowshahi told employees in a memo that cash flow positivity was becoming an important near-term goal.
BP logo, pictured in London on May 12, 2021. The International Energy Agency recently reported that in 2021, energy-related carbon dioxide emissions rose to their highest level on record.
Glyn Kirk | AFP | Getty Images
British oil giant BP and U.S. shale producer Devon Energy reported strong quarterly earnings and raised their dividend payouts as higher crude oil prices this year helped the companies boost their capital return programs. BP, which on Tuesday reported a profit of $8.5 billion in the second quarter, raised its quarterly dividend by 10% to 6.006 cents per common share. Devon Energy, which surrendered on Monday better than expected results for the second quarter on the top and bottom lines, announced a 22% increase in dividend payout. Using a fixed plus variable dividend strategy, Devon’s quarterly payout now stands at $1.55 per share, up from $1.27.
Banner for online image board Pinterest Inc. hangs from the New York Stock Exchange (NYSE) on the morning of Pinterest’s initial public offering on April 18, 2019 in New York.
Spencer Platt | News from Getty Images | Getty Images
Shares of Pinterest jumped about 18% in premarket trading on Tuesday, a day after the social media company’s quarterly earnings and revenue fell short of Wall Street estimates and guidance for the current quarter was weaker than expected. While Pinterest’s monthly decline in active users wasn’t as bad as feared, the company’s results still show the challenging operating environment for social media names right now. PinterestShares of may react to news that activist investor Elliott Management on Monday revealed that he is the largest shareholder in the companytouting the “value creation opportunity” it sees.