Yahoo Finance Morning Brief: Trump threatens gov't shutdown over immigration
Monday, July 30, 2018
What to watch today
All in, 145 members of the S&P 500 will report earnings in the week ahead. Earnings from Apple (AAPL), the world’s largest company by market cap, will be released on Tuesday. Analysts at Goldman Sachs expect the company to report it sold 47 million iPhones during its fiscal third quarter. Investors will also be tracking whether a positive earnings report pushes shares of the company higher as Apple closes in on becoming the first company to attain a market cap of $1 trillion. As of Friday’s close, Apple’s market cap was around $940 billion.
Earnings out of Tesla (TSLA) — set for release on Wednesday — should also be a highlight as the company hits its long-awaited production goal of 5,000 Model 3 sedans in a week at the end of June, while CEO Elon Musk’s various online controversies have dominated discussion around the company in recent weeks.
Top news
Trump threatens gov’t shutdown over border wall: U.S. President Donald Trump said on Sunday he would allow the federal government to shut down if Democrats do not fund his border wall and back immigration law changes, betting that maintaining a hard line will work in Republicans’ favor in November congressional elections. [Reuters]
CBS board to discuss CEO Moonves probe: CBS Corp’s (CBS) board will discuss the investigation into allegations of personal misconduct against the U.S. broadcasting and media company’s Chief Executive Leslie Moonves on Monday, according to two people familiar with the matter. The allegations come as Moonves is embroiled in a legal battle over control of CBS with the company’s largest shareholder, National Amusements Inc, owned by Shari Redstone and her father Sumner. [Reuters]
Charles Koch says Trump tariffs could trigger US recession: Billionaire industrialist Charles Koch, who leads a powerful policy and political network, said Sunday he worries President Donald Trump’s actions on trade and tariffs put the booming U.S. economy at risk of recession. While saying it’s impossible to know for sure because the president’s trade policy remains fluid, Koch said the greater the level of trade restrictions, the greater the risk of severe economic fallout. [Bloomberg]
Walmart explores its own streaming service: Walmart Inc. (WMT) is exploring a subscription video-streaming service that would seek to challenge Netflix Inc. (NFLX) and Amazon.com Inc. (AMZN) by offering programming that targets Middle America, according to people familiar with the plans. [The Wall Street Journal]
Massive short bet against Nintendo after shares drop: Gabriel Plotkin, head of New York hedge fund Melvin Capital Management, has accumulated a $375 million short bet against the Japanese game maker, according to regulatory filings. The former star trader at SAC Capital Advisors accounted for as much as 7% of Nintendo’s daily volume in recent weeks, contributing to stock declines since May. [Bloomberg]
For more of the latest news, go to Yahoo Finance
Yahoo Finance Originals
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How China’s tariffs on soybeans fueled the US GDP bump
Why investors should look beyond Apple’s iPhone sales
What it’s like to glamp on New York City’s Rockaway peninsula
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