Here are the most important news items that investors are asking to kick off their trading day.
1. The market is lively.
US stocks eventually peaked on the morning of August 12, 2022, the day after the three major pointers shared mixed results. On August 11, 2022, the Dow was slightly positive, while the S&P 500 and the tech-focused Nasdaq fell after different phases of inflation information showed that price gains were waning slightly. However, the information for the month is not trending, and inflation remains high despite the fact that oil prices in June are falling from their historical highs. The Federal Reserve is still expected to take a hostile approach to inflation and is expected to raise rates again in September. Next week, Walmart, Target, Home Depot and Royce will report quarterly earnings, giving us more data on how inflation is affecting customers.
2. The Democrats were formed to pass their big bill.
On August 12, 2022, the House of Representatives will cut out the climate, health, and corporate tax legislation, now called the Inflation Reduction Act. The law is designed to strengthen Medicare and Obamacare while providing improvements to the electric vehicle industry, among other items in terms of climate. The bill is much smaller than the original proposal. But it’s a win for Democrats, who have struggled for months to get through President Joe Biden’s various propaganda items. Joe Manchin and Kirsten Cinemas. A movement in the House will pass the bill to Biden for his signature.
3. Rivian expects a significant decline this year.
Electric-vehicle startup Rivian claims it is expecting bigger losses than expected this year as it faces supply chain problems and other headwinds the broader EV industry is dealing with. In the second quarter, it decreased by $1.7 billion. The company, which ranks Amazon as an investor, expects about 25,000 military discharges this year, while claiming it could cut capital spending. As of June 30, Rivian had approximately $15.5 billion in cash. The makers of the R1 electric pickup are confident they have enough cash to finally start producing the compact R2 vehicle platform by 2025.
4. The CDC has revised its coronavirus recommendations.
The COVID-19 pandemic is not over yet. Tens of thousands of people are affected every day in the United States. However, the U.S. Centers for Disease Control and Prevention (CDC) relaxed its claim recommendations for the virus on August 11, 2022, arguing that the disease poses less serious health risks. The agency claimed to have tremendous levels of immunity in the community, as well as the vaccine and other treatments for it. Between shifts in CDC guidelines: Schools no longer test for asymptomatic people, and unvaccinated people do not need to isolate if they are susceptible to the virus.