Stocks are looking at a higher open lifted by earnings optimism. Dow futures are signaling a 100 point jump at the open, as the S&P 500 hovers near record levels. Earnings from Coca-Cola and Harley-Davidson helping drive the early gains. Investors also continue to brace for next week’s two-day Federal Reserve meeting where the central bank is widely expected to cut interest rates.
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Boris Johnson just became England’s next Prime Minister: Johnson, a member of the Conservative Party, is perhaps best known for serving as the mayor of London during the 2012 London Olympics. A key aspect of his policy platform is lowering taxes for the wealthy and creating environmentally-friendly jobs.
The White House and Congress reach an agreement to hike the debt ceiling, raise spending caps. The deal, announced Monday evening, would suspend the debt limit until July 2021 and raise the congressional spending limits for defense and nondefense programs, totaling $2.7 trillion over the next two years. Both chambers are expected to pass the measure this week before leaving for the annual August recess.
Sony drops a new trailer for Mister Rogers biopic starring Tom Hanks. The first full teaser for the movie inspired by a 1998 Esquire article follows a magazine writer as he seeks to profile Fred Rogers. The production team behind “A Beautiful Day in the Neighborhood” went to great lengths to ensure the film aligns with the original television series, shooting the movie in the same Pittsburgh studio and using clothes from Rogers’ original wardrobe.
Apple is reportedly seeking to acquire Intel’s smartphone chip business for $1 billion. The deal, which could be finalized by this week, would give the tech giant more control over the development of its signature iPhone and engineering talent as Apple looks to launch its first fifth-generation wireless-capable phone. The sector is reportedly losing Intel up to $1 billion per year.
