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U.S. stocks made another run for fresh records as investors wind down a busy week which included a strong quarter from Disney.
The Dow Jones Industrial Average rose over 60 points, or 0.18%, while the S&P 500 inched up 0.04% and Nasdaq was little changed. Both the Dow and the S&P 500 have closed in record territory in each of the three previous sessions.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 35505.86 | +6.01 | +0.02% |
| SP500 | S&P 500 | 4462.99 | +2.16 | +0.05% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14827.785521 | +11.52 | +0.08% |
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Prices of imported goods increased at a slower-than-expected pace last month, rising 0.3%, while exports rose 1.3% exceeding estimates.
Investors will also receive the University of Michigan’s preliminary index of consumer sentiment for August at 10 a.m. ET.
In stocks, Walt Disney Co. reported earnings and revenue that exceeded Wall Street estimates as its U.S. theme parks business returned to profitability. The entertainment giant’s Disney+ streaming service said the number of subscribers grew 12% versus a year ago.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 185.60 | +6.18 | +3.45% |
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Airbnb Inc.’s net loss narrowed by 88% from a year ago as revenue and bookings exceeded analysts’ expectations. However, the online marketplace for lodging warned the delta variant could impact bookings for the fall.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABNB | AIRBNB, INC. | 152.52 | +1.37 | +0.91% |
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Tesla CEO Elon Musk said he hopes production at the electric-vehicle maker’s Berlin Gigafactory will begin in October. However, Germany’s environmental agency has yet to give final approval, meaning the production ramp could be delayed to later this year or next year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 719.14 | -3.10 | -0.43% |
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In space news, shares of Virgin Galactic were in focus after Sir Richard Branson disclosed in an SEC filing, the sale of stock from Aug. 10-12 of this week selling “10,416,000 shares of Common Stock in a series of transactions at prices ranging from $25.51 to $34.76 per share in open market transactions on the New York Stock Exchange” the filing detailed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 25.34 | -0.61 | -2.37% |
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In mergers and acquisitions, Kansas City Southern rejected a $27 billion offer from Canada Pacific Railway and said it would postpone a vote on a $29 billion deal with Canada National Railway Co. unless the regulators rule on “voting trust” of the transaction.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KSU | KANSAS CITY SOUTHERN | 291.92 | -0.40 | -0.14% |
| CP | CANADIAN PACIFIC RAILWAY LTD. | 72.44 | -0.24 | -0.33% |
| CNI | CANADIAN NATIONAL RAILWAY CO. | 107.73 | -0.53 | -0.49% |
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In commodities, West Texas Intermediate crude oil slid 8 cents to $69.01 a barrel and gold jumped $10 to $1,761.80 an ounce.
Overseas markets were mixed with strength in Europe and weakness in Asia.
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