Today on Wall Street: record after record

But strong corporate performance, improving economic data, and the Senate’s passage of a major infrastructure bill are all boosting investor morale.

Markets are still keeping an eye on the renewed strength of the pandemic and the further rise in producer prices in the United States, as well as in China, where infections are on the rise. The resurgence of the coronavirus is indeed slowing production and shipments in some parts of the country, while shortages are already present everywhere in production chains and ocean freight rates are high.

Some of the latest results from the big companies of the second quarter earnings season came out yesterday, such as Walt Disney, DoorDash and Airbnb. Disney was up 5.4% before the bell after posting better-than-expected quarterly results, thanks to the popularity of its streaming services and the return to profitability of its US theme parks.

Today, the S&P 500 and the Dow Jones seem poised to build on yesterday’s records …

Today’s economic highlights:

To end the week, we have the European trade balance for June and the University of Michigan consumer confidence index.

The dollar / euro parity moves little to 0.8502 € while the ounce of gold still nibbles some gains at 1758 USD. In the oil market, the barrel is up slightly, with Brent at $ 71.12 and WTI at $ 68.85. The US government bond pays 1.35% over 10 years, while that of Germany remains firmly in negative territory at -0.46%. Bitcoin is over 46,000 USD.

On the stairs :

* Pfizer-BioNTech, Moderna – The United States Food and Drug Administration on Thursday approved a third dose of COVID-19 vaccines from Pfizer-BioNTech and Moderna for people who are immunocompromised. In addition, South Korea has signed an agreement to purchase 30 million doses of the vaccine from Pfizer. Moderna shares are up 2% in pre-market trading.

* Walt Disney released better-than-expected quarterly results on Thursday, as the entertainment giant drew more subscribers to its video-on-demand service than expected and benefited from returning visitors to its theme parks. The stock gained 5.5% on the pre-stock market.

* The Boeing Company – The launch of Boeing’s Starliner space capsule could be delayed by several months due to necessary repairs, the Wall Street Journal reported Thursday.

* Tesla – Elon Musk said on Friday he hoped the company’s new “Gigafactory” in Berlin, which is behind schedule, will produce its first Tesla in or soon after October.

* AirBnB announced Thursday that bookings for the current quarter could be penalized by the Delta variant and the slowing pace of vaccinations in the United States. The stock is down 3% on the pre-stock market.

* Virgin Galactic – Richard Branson, the founder of the space tourism group, has sold around 10.4 million shares at prices ranging from $ 25.51 to $ 34.76. The stock, which closed Thursday at $ 25.94, was down 3.3% pre-market.

* Kansas City Southern on Thursday announced it had rejected the Canadian Pacific Railway’s $ 27 billion offer and said it plans to postpone the shareholder vote on Canadian National’s $ 29 billion proposal if the Rail regulator did not comment on the deal within the next five days.

* DoorDash lost 4.3% in pre-market trading in response to news that its second-quarter losses widened more than expected.

Analyst recommendations:

  • Activision Blizzard: Citigroup upgrades to “buy” from “neutral”.
  • Apple: JP Morgan advises clients to buy the stock. The price target remains unchanged at 175 USD.
  • Baidu: Nomura lowers price target to $ 187 from $ 217, remains neutral
  • Brinker International: UBS adjusts price target to $ 58 from $ 71, maintains rating neutral
  • Cimarex: Mizuho Securities raised the recommendation to buy neutral. PT climbs 46% to $ 95
  • Coca-Cola HBC: Jefferies remains a Hold’em with a price target raised from 2,950 GBP to 3,000 GBP.
  • Cytokinetics, Incorporated: Mizuho Securities raises price target from $ 36 to $ 45, buy rating maintained
  • eBay: UBS Adjusts Price Target to $ 70 Against $ 67, Keeps Rating Neutral
  • Meggitt: Investec lowers rating not to buy, raises pt
  • National CineMedia: Barrington Research Reduces Price Target To $ 4.50 From $ 5.50, Continues To Outperform
  • Palantir Technologies: Jefferies Adjusts Price Target to $ 30 Against $ 28, Maintains Buy Rating
  • Signify Health: UBS lowers price target to $ 27 from $ 31, maintains rating neutral
  • Stock spirits: Berenberg raises his buy rating on Hold with a target of 377 GBP.
  • Tesla: UBS raises price target from $ 660 to $ 725, maintains rating neutral
  • Trane Technologies: UBS adjusts price target to $ 196 from $ 191, maintains rating neutral
  • Happened: Barclays raised the recommendation of being overweight for weight. PT up 29% to $ 230

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