Snap earnings; Oil in focus; Surging volatility
Posted August 10
1. Snap earnings: Snapchat's parent company will report its second quarter results on Thursday.
Snap shares have been on a downward slide in the wake of their NYSE debut in March.
The self-described camera company recently unveiled a slew of new features, but it may not be enough to keep users -- and investors -- on board.
Snap posted a whopping $2.2 billion loss in the first quarter.
2. Blue Apron earnings: Blue Apron will publish its latest numbers before the opening bell.
The company's June IPO was a disappointment, and its stock has lost more than 35% of its value since then.
Competition in the fresh food and meal kit delivery market is already tough. It's only going to get tougher when Amazon's purchase of Whole Foods is completed.
3. Oil in focus: U.S. oil futures edged 0.5% higher as investors awaited the latest monthly oil market report from OPEC.
Oil was trading just below $50 per barrel.
Investors will look at the level of compliance with a production cut agreement that was struck last year and extended in May.
OPEC and other major producers hoped the deal would help end a supply glut and send prices higher.
4. Global market overview: Investors are still processing the war of words between the United States and North Korea.
The VIX volatility index surged 25% on Wednesday, and the CNNMoney Fear & Greed Index swung to neutral after days of sitting in the greed territory.
The Dow Jones industrial average closed 0.2% lower, while the Nasdaq shed 0.3%. The S&P 500 was flat.
U.S. stock futures were lower on Thursday. European markets were lower in early trade following a rough session in Asia.
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5. Earnings and economics: Scores of companies are set to report earnings.
Canada Goose, Kohl's and Macy's will publish their results before the open, while News Corp., Noodles & Co, Nordstrom and NVIDIA will follow after the close.
The U.S. Bureau of Labor Statistics will release its July producer prices report at 8:30 a.m. ET.
At the same time, the Department of Labor will release its weekly data on initial unemployment claims.
Mexico's central bank will announce an interest rates decision at 2 p.m. ET.
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6. Coming this week:
Thursday -- Snap, Blue Apron, NVIDIA, Macy's, Nordstrom, News Corp, and Kohl's report earningsFriday -- U.S. inflation report; J. C. Penney