📈 Stock Market Today: Covid-19 cases surge and stocks slide - Earnings to watch
Here's what is happening in the markets today, Monday, July 19th:
- Earnings will be the focus this week with 9 stocks in the DOW 30 reporting and 76 of the S&P 500 stocks reporting.
- Covid-19 and the delta variant weighing on the markets. CDC says US is averaging 30k new cases a day compared to 11k a day a month ago.
- Airlines lower pre-market with American (AAL), Delta (DAL) and United (UAL) down 4.0-5.0%.
- Cruise lines also take a hit, Carnival (CCL), Norwegian (NCLH) and Royal Caribbean (RCL) down 4.0-6.0% pre-market.
- OPEC+ agrees to begin phasing out production cuts, Crude Oil (CL) drops 3.5%.
- AutoNation (AN) reports solid earnings with $4.83EPS vs. $2.81 estimate, revenue also better with same-store new car sales up 42% from a year ago and used car sales up 37%.
- Tractor Supply (TSCO) also an earnings beat, $0.23 better than expected at $3.19EPS, revenue better and raised full year outlook.
- Tesla (TSLA) is now offering customers a $199 subscription for their premium driver assistance service instead of just a 10k upgrade.
- Xpeng (XPEV) has priced its base model for its P5 sedan at $24,700. Well below Tesla's model 3 ($41,190).
- Covid-19 and the delta variant weighing on the markets. CDC says US is averaging 30k new cases a day compared to 11k a day a month ago.
- Airlines lower pre-market with American (AAL), Delta (DAL) and United (UAL) down 4.0-5.0%.
- Cruise lines also take a hit, Carnival (CCL), Norwegian (NCLH) and Royal Caribbean (RCL) down 4.0-6.0% pre-market.
- OPEC+ agrees to begin phasing out production cuts, Crude Oil (CL) drops 3.5%.
- AutoNation (AN) reports solid earnings with $4.83EPS vs. $2.81 estimate, revenue also better with same-store new car sales up 42% from a year ago and used car sales up 37%.
- Tractor Supply (TSCO) also an earnings beat, $0.23 better than expected at $3.19EPS, revenue better and raised full year outlook.
- Tesla (TSLA) is now offering customers a $199 subscription for their premium driver assistance service instead of just a 10k upgrade.
- Xpeng (XPEV) has priced its base model for its P5 sedan at $24,700. Well below Tesla's model 3 ($41,190).