Traders on the floor of the NYSE, August 24, 2022.
Here are the most important information investors need to start their trading day:
Equity Futures pointed to an upper opening Thursday after a positive Wednesday for the three main US indices. Markets are looking to get back on track heading into September after the summer rally lost some momentum this month. Investors are hungry for clues as to what the Federal Reserve will do at its meeting next month in its fight against inflation. A few days of remarks from Fed speakers in Jackson Hole, Wyoming, starting Thursday, might just scratch that itch. Fed Chairman Jerome Powell is scheduled to speak on Friday.
The losses accumulate during Platoonthe fitness equipment manufacturer that became a phenomenon during covid pandemic the closings only bottomed out, and then some, after people started to leave their homes again. On Thursday, the company released its sixth consecutive quarter of reported losses as sales plummeted and its gross margin hit a staggering negative 98.1% in the fourth fiscal quarter. (It was an 11.7% positive a year ago.) Peloton didn’t even bother to give advice for the full year. The report came a day after investors celebrated the news that Peloton has started selling gear and apparel through Amazonmarking the company’s first such deal with another retailer.
Marc Benioff, CEO of Salesforce, at the WEF in Davos, Switzerland on May 25, 2022.
Adam Galica | CNBC
Enterprise software vendor Selling powershares of plummeted in after-hours trading after the company downgraded its outlook for the year. “Almost everyone I’ve spoken to is taking a more measured approach to their business,” company co-founder and co-CEO Marc Benioff said on a conference call with analysts. “We expect these trends to continue in the near term, and have factored them into our forecast.” Salesforce also approved a $10 billion share buyback program. He is also raising prices for Slack, the team messaging app he acquired last year for $28 billion, as it became clear that hybrid working arrangements were going to stick.
Amazon Care is a pilot medical clinic for employees.
Amazon’s telehealth service, Amazon Care, stopped at the end of the year. This marks a big step backwards for Amazon, although its healthcare ambitions remain strong. Amazon Care has helped the company understand “what is needed over the long term to deliver meaningful healthcare solutions to businesses and individuals,” service manager Neil Lindsay wrote in the memo. The company reached an agreement to acquire primary care provider One Medical last month, and it is would have bid for Signify Health, provider of home health services.
Invitation to Apple’s September event.
September is fast approaching. It means it’s Apple season. The tech giant sent on Wednesday cosmic themed invitations at a big event on September 7, when it’s expected to unveil the latest iPhones. Investors and consumers will be looking to see if Apple will raise its already high prices given supply chain issues and inflation, writes CNBC’s Kif Leswing. Apple may also unveil a new Apple Watch at the event.
– CNBC’s Carmen Reinicke, Lauren Thomas, Jordan Novet, Annie Palmer and Kif Leswing contributed to this report.