Top News
- S&P 500 Futures are +.07%; Dow Futures are +.09%; NASDAQ Futures are +.08%
- US stock futures are moving higher after the FDA granted full approval for Pfizer's COVID vaccine yesterday, which may lead to mandates to reduce the spread of the Delta variant and strengthen economic recovery efforts. Investors also await news from the annual Federal Reserve's Jackson Hole event this Friday. Note: Investors are focusing on discussions around the Federal Reserve's plans for tapering its asset purchasing
- Although Chinese tech stocks had a challenging few weeks from regulatory concerns, the Hang Seng Tech Index, which represents the 30 largest tech companies listed in HK, rebounded by ~7%. Note: Cathie Wood starts to purchase back Chinese Tech stocks after strong corporate results
- An emergency G7 leaders meeting will be held today to address the situation in Afghanistan. British Prime Minister Boris Johnson is expected to request the US to extend the evacuation deadline. Note: The Taliban said they will not accept an extension
- Visa purchases an NFT (non-fungible token) for ~$150k with the goal of learning more about the growing market, according to Visa's head of crypto
Price Target Updates
- Needham initiated coverage on Coinbase Global (COIN) and set the price target to $420
- Oppenheimer initiated coverage on Shift (SFT) and set the price target to $12
In Other News
- Disney is requiring all its unionized employees working at Walt Disney World in Florida to be fully vaccinated
- Elon Musk said the latest release of his company's experimental driver-assistance software, was "actually not great"
- Walmart is starting a delivery service for other businesses in the US called "Walmart GoLocal," in a jab at Amazon
Submitted August 24, 2021 at 08:44AM by hivincentc https://ift.tt/3kjdl5B
