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Oil companies are back on track

newsflight august 2

Markets

Nikkei 225

27,781.02

▲ +497.43 / +1.82%

SSE Composite

3,464.29

▲ +66.93 / +1.97%

IBOVESPA

123,298.88

▲ +1,498.09 / +1.23%

Straits Times

3,161.22

BMV IPC

50,868.32

▲ +1.15%

Dow Jones

35,117.14

▲ +181.67 / +0.52%

DAX 30

15,588.44

▲ +44.05 / +0.28%

BSE SENSEX

52,950.63

▲ +363.79 / +0.69%

FTSE 100

7,075.11

▲ +42.81 / +0.61%

JSE Top 40

63,029.34

Market News

  • Dow Jones: The Dow Jones Industrial Average topped the 35K mark at open.  
  • S&P 500: US indices, like the S&P 500, opened at record highs on Monday as economic recovery and earnings roll in. 

Last Week’s Highlights

Oil companies’ earnings are up as demand resurges

Oil giants Chevron and Exxon’s earnings reports, submitted on Friday, have beat the market expectations. Their reports are a far cry from last year as they have regained profitability as oil product demand is resurging amid the world’s reopening economies. Chevron reported more than $37b in profits, while Exxon topped $67B. Oil prices are nearing $74, giving operations another boost for the next quarter.

Tesla hits $1B in quarterly earnings for the first time in its history

Tesla hit a new milestone this Quarter by reporting a net income of more than 1 billion dollars for the first time in history. This is a more than 100% increase from last year and higher than the markets expected. This impressive growth comes in a quarter in which the EV giant boomed in delivery and sales numbers, giving revenue of almost 12 billion dollars. 

Coming Up This Week

SEC to halt all Chinese IPOs in the US

The U.S Securities and Exchange Commission has announced this Friday that it will halt all Chinese IPOs temporarily. In addition, it is asking its employees to ask for more disclosures from Chinese companies in the future before it approves the sale of their shares in the U.S. This shows that regulators are taking more care in the approval of IPOs as the Chinese market remains risky and has affected trading in the U.S. 

Big tech is asking employees for vaccine certificates

As the Delta variant spreads worldwide, the list of companies asking for vaccination proofs for their staff to go back to work is becoming larger. Tech giants lead this list with Facebook, Twitter, and Google asking all their U.S.-based employees to vaccinate fully before coming back to their offices. In the Airline industry, Delta and United have required new hires to be vaccinated and are asking other employees to do so. 


More Things to Sip On…

Facebook announces the launch of their Ray-ban smart glasses. 

Amazon’s earnings disappoint expectations by $2B.

Scarlett Johansson sues Disney over Black Widow going to streaming.

Porsche SE joins the space race by Investing in Isar Aerospace.


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“Successful investing is about managing risk, not avoiding it.”
– Benjamin Graham –


Disclaimer
All market information provided was collected in the afternoon of July 30, 2021. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest Limited is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Limited.

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.

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