Wall Street set to open slightly higher
U.S. stock futures rose Monday as second-quarter earnings continue to pour in, with key retailers starting to show up in a bigger way starting later this week.
As of 5:35 a.m. ET, futures tied to the blue-chip Dow indicated a gain of 89 points, or 0.32% to 27,881. The S&P 500 futures added 12.12 points, or 0.36% to 3,373.62 while on the tech-heavy Nasdaq 100 rose 65.75 points, or 0.59% to 11,199.5.
Walmart (NYSE: WMT) and Kohl’s (NYSE: KSS) will open their books on Tuesday, while Target (NYSE: TGT), Lowe’s (NYSE: LOW) and TJX (NYSE: TJX) report on Wednesday.
BJs Wholesale Club (NYSE: BJ) and Foot Locker (NYSE: FL) are scheduled to publish their results on Thursday and Friday, respectively.
More China-owned companies on Trump’s radar
Meanwhile, President Donald Trump has indicated his administration could exert more pressure on more Chinese companies, including Alibaba (NYSE: BABA), after signing an executive order last week that gives ByteDance an option to divest its TikTok operations in the U.S. within 90 days.
“Well, we’re looking at other things, yes,” the president said at a press briefing in New Jersey over the weekend when asked whether he would consider banning other Chinese-based companies, such as Alibaba.
His administration has piled on TikTok and Tencent’s messaging app WeChat, claiming the apps pose risks to national security due to the personal data they handle.
Warren Buffett loses faith in bank stocks, scoops up stake in gold mining company
Warren Buffett’s Berkshire Hathaway has closed his position in Goldman Sachs (NYSE: GS) completely, according to 13-F filings with the U.S. Securities and Exchange Commission for the period ended June 30, that were published on Friday.
The conglomerate also dumped about 61% of its position in JPMorgan Chase (NYSE: JPM) and more than a quarter of its stake in Wells Fargo (NYSE: WFC), while acquiring a new position in Canada-based mining company Barrick Gold (NYSE: GOLD).
Barrick Gold shares loosely trade in tandem gold, which has rallied nearly 30% since the beginning of the year as traders have sought safe havens.
