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Sunday, August 1, 2021

Apple, Citigroup, BlackRock, BofA, Delta: What to Watch When the Stock Market Opens Today

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Futures are inching up with another wave of reports from big banks under way. Here’s what we’re watching ahead of Wednesday’s trading action.

  • Earnings are due this morning from

    Citigroup,

    C -1.54%

    Wells Fargo

    WFC -2.11%

    and

    Delta Air Lines.

    DAL -3.55%

  • BlackRock

    BLK -0.86%

    kicked off the day’s wave of expected reports, when it said its second-quarter profits rose 14%. Its assets under management rose 30% from a year ago to close to $10 trillion. But market watchers seemed unimpressed, as its shares slipped 1.5% premarket.

  • Bank of America

    BAC -1.90%

    was the next earnings report to drop, and it said consumer spending has significantly surpassed pre-pandemic levels, but also that low interest rates continued to be a challenge during the recent quarter. Its shares were down more than 2% ahead of the bell.

Bank of America said low interest rates remain a challenge.



Photo:

David Paul Morris/Bloomberg News

  • Apple

    AAPL 0.79%

    shares jumped 2% premarket after Bloomberg reported that the company is aiming to boost its iPhone production this year by up to 20%. And even though this year’s product update, due in September, is expected to bring only incremental changes, Apple is hoping that the shift to 5G and a better consumer environment post-pandemic will have the newer phones flying off the shelves.

  • American Airlines

    AAL -3.93%

    earnings aren’t due until next week, but investors appear to be hoping for some good news, as its shares are up 3% premarket.

  • Investors in Canadian sports-media and betting company

    Score Media & Gaming

    SCR -2.51%

    were taking their money off the table, sending its U.S.-traded shares down more than 7% off hours. It logged greater sales year over year in the latest quarter due to strength in its media business, but it posted a larger net loss as expenses rose.

  • ZoomInfo Technologies

    ZI -0.19%

    slipped 0.4% premarket after the business-intelligence platform, which is buying Chorus.ai for $575 million, on Tuesday raised about $500 million in debt.

Chart of the Day
  • Investor and government funds are pouring into clean tech years after the failures of Solyndra and A123 Systems chilled early enthusiasm for green investing.

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