The Daily Business and Finance Show - Sunday, 21 July 2024 We get our business and finance news from Seeking Alpha and you should too! Subscribe to Seeking Alpha Premium for more in-depth market news and help support this podcast. Free for 14-days!
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Welcome to the Daily Business and Finance Show. Trump's pledge to drill baby drill sparks debate on oil markets while trending stocks react to political shifts and IT concerns. Biden exits presidential race endorsing Kamala Harris as Microsoft reveals a crowd strike defect impacting 8.5 million Windows devices. Unions representing 14K Disneyland workers vote for strike authorization and Tesla's earnings preview focuses on robot access and margins amid geopolitical tensions. Real estate stocks rise as traders seek tech alternatives with Wall Street futures enching up post-Biden exit news. Stay tuned after the short ad break to learn more. Feel the pulse of the city. Feel the beat of the drum. Feel the bass. Blow your hair. In Las Vegas live music delivers much more than sound. It's where music comes a liar with artists like Pink, Wu Tang Clan, Nicki Minaj, Garth Brooks, Christina Aguilera, 21 Pilots, Nas with the Las Vegas Philharmonic and many more. Every show is a playground for your senses. See the full summer lineup at visit Las Vegas.com. This week, the market faced challenges from a crowd strike glitch and former President Donald Trump's comments on electric vehicles and chip makers. The S&P 500 fell 1.97 percent while the NASDAQ composite dropped 4.3 percent. Major stocks like NVIDIA, AMD and Intel saw significant declines. Crypto stocks surged as Bitcoin rose above $63,000 following an assassination attempt on Trump. US President Joe Biden announced he is stepping down from the presidential race, citing concerns over his ability to beat Donald Trump. He will serve until January 2025 and endorsed Vice President Kamala Harris as the Democratic nominee. Trump believes Harris will be easier to defeat. Bitcoin fell following the announcement. Microsoft reported that 8.5 million Windows devices were impacted by a global outage due to a faulty update from cybersecurity firm CrowdStrike. Despite being less than 1 percent of all Windows machines, the incident affected critical services worldwide, including airlines and banks. Microsoft is working with Amazon Web Services and Google Cloud Platform to resolve the issue. Several unions representing 14,000 workers at Walt Disney Steam Parks in Southern California have voted to authorize a potential strike over alleged unfair labor practices. These unions include the Bakery, Confectionary, Tobacco Workers and Grain Miller's Local 83, Service Employees International Union United Service Workers West, Teamsters Local 495, and United Food and Commercial Workers Local 324. Negotiations with Disney Continue Monday and Tuesday Tesla will report earnings on July 23 after the market closes. Analysts expect revenue of $24.7 billion and earnings per share of $0.62 down from last year. Key areas to watch include artificial intelligence, full self-driving technology, robot access, energy storage, and the Optimus Humanoid Project. Real estate stocks rose this week as markets anticipated a Federal Reserve rate cut in September. The real estate select sector SPDR Fund ETF increased by 1.3% while the Dow Jones equity all REIT toll return index climbed 1.58%. Meanwhile, technology stocks declined with the S&P 500 dropping around 2%. Stock index futures open slightly higher Sunday evening. S&P 500 and NASDAQ 100 futures rose by 0.2% while Dow futures increased by 0.1%. The broader market had its worst week since April. Ten-year treasury yields fell to 4.23%. President Biden withdrew from the race, endorsing Vice President Kamala Harris, causing Bitcoin to initially drop but later recover by nearly 1.5%. Thanks for tuning in to the daily business and finance show. Stay informed, stay ahead. Catch us tomorrow for more insights and updates. Have a great day. I'm Montgomery Jones. And I'm Amalia Dupre. Farewell until tomorrow. Have a good one wherever you are. This content is sourced from the Seeking Alpha website, so support our podcast by becoming a Seeking Alpha Premium subscriber. See the show notes page for links to sign up. This episode is produced by Classic Studios. This podcast provides information only and should not be construed as financial or business advice. Check out our other podcasts in our network at classicstudios.com. [MUSIC]
