Tuesday 26 July 2022

Futures fall after Walmart warning spooks retail stocks

Futures fall after Walmart warning spooks retail stocks

U.S. stock index futures fell on Tuesday after Walmart's profit warning rippled through the retail sector and heightened fears that consumers were cutting back on discretionary spending in the face of decades-high inflation.

Europe agrees compromise gas curbs as Russia squeezes supply

European Union countries approved a weakened emergency plan to curb their gas demand on Tuesday, after striking compromise deals to limit the cuts for some countries, as they brace for further Russian reductions in supply.

Russia fines Google $34 mln for breaching competition rules

Russia's competition watchdog fined Alphabet's Google 2 billion roubles ($34.2 million) on Tuesday for abusing its dominant position in the video hosting market, the regulator said in a statement.

Grain trader ADM's profit jumps 74% on strong global demand

Global grain trader Archer-Daniels-Midland Co (ADM) reported a 74% rise in second-quarter profit on Tuesday, benefiting from high demand for grains and tighter supplies following Russia's invasion of Ukraine.

GE posts higher earnings on recovery in aviation industry

General Electric Co on Tuesday surprised Wall Street with higher quarterly profit and positive cash flow as recovery in the aviation industry drove up its jet engine business, sending its shares higher in pre-market trade.

Raytheon posts 3% rise in revenue on air travel boost

Aerospace and defense firm Raytheon Technologies Corp on Tuesday posted a near 3% rise in second-quarter revenue, as a surge in air travel boosted demand for its engines and aftermarket services.

McDonald's sales and profit top estimates on resilient fast-food demand

McDonald's Corp on Tuesday reported comparable sales and profit above market expectations even as expenses soared, as the burger chain benefited from steady online demand, new product launches and higher prices.

EV firm Faraday Future drops after flagging need for funding

Faraday Future Intelligent Electric Inc's shares fell more than 7% in premarket trading on Tuesday after the electric-vehicle maker flagged the need for more cash to launch its FF91 luxury model.

Coca-Cola raises annual revenue forecast on sustained soda demand

Coca-Cola Co lifted its full-year revenue forecast on Tuesday, as demand for sugary sodas held up strong despite price increases to blunt the impact of higher costs for key inputs such as corn syrup and aluminum cans.

Gas crunch fears hammer euro, lift dollar and Swiss franc

The prospect of another Russian gas supply cut knocked the euro lower on Tuesday, while dollar gains were tempered by mounting uncertainty over the U.S. Federal Reserve's policy-tightening path after this week's expected interest rate rise.

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