August 09, 2019 / By mobanmarket
Stock futures are pointing to giving back some of the previous session's gains after data showed the British economy contracted for the first time since 2012.
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Dow Jones industrial futures are down 0.5 percent, S&P 500 futures are also pointing to a loss of 0.6 percent and Nasdaq futures are off 0.8 percent.
UK gross domestic product fell at a quarterly rate of 0.2 percent, a Reuters poll expected a flat reading. Year-on-year economic growth slid to 1.2 percent from 1.8 percent in the first quarter.
In the prior session, the Dow Jones Industrial Average and the S&P 500 jumped over 1 percent, while the tech-heavy Nasdaq Composite rose over 2 percent.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26378.19 | +371.12 | +1.43% |
| SP500 | S&P 500 | 2938.09 | +54.11 | +1.88% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8039.156033 | +176.33 | +2.24% |
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Safe havens such as gold rose above $1,500 on Friday, its highest in more than six years.
U.S. crude prices are higher by 1.4 percent to $53.25 per barrel.
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Investors will get the latest read on inflation with the report on U.S. producer prices.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 42.97 | +3.27 | +8.24% |
| CBS | CBS CORP. | 50.82 | +1.64 | +3.33% |
In the extended session, shares of Uber fell 10 percent after posting weaker than expected quarterly sales. Rival Lyft enjoyed better results, rising about 3 percent, after beating estimates for second-quarter revenue and said the loss for 2019 would be less than its prior forecast.
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CBS Corp. posted strong top and bottom line growth as the company prepares for the transformation of a merger with its corporate sibling Viacom.
Categories: News