1. The number of initial jobless claims in the United States last week was 0.233 million, which was estimated to be 0.24 million. 2. Lilly soared more than 12% before the market opened, and the company raised its full-year performance expectations. 3. HP responded to rumors that 'half of PC production will be moved out of China'.
On Thursday, the latest initial app data was better than expected, and the short-term futures of the three major US stock indexes rose. Major European indices fell overall.
(Source: Investing.com)
The data released before the market opens showed that the number of initial jobless claims in the United States last week was 0.233 million, which was estimated to be 0.24 million, and the previous value was 0.249 million.
In the previous trading day, the US stock market opened high and oscillated low, the three major indexes rose more than 1% at one point, but they all closed down collectively, which caused people's worries that the cause of Monday's stock market selling has not disappeared.
In the past five trading days, the US stock market has fallen for four trading days.
Joseph Ferrar, an investment strategist at Gateway, said that the recent violent fluctuations in the market may indicate the trend for the remaining time of this year. Economic concerns, geopolitical conflicts, and the upcoming US election may continue to make investors nervous in the next few months.
As of the time of publication, pharmaceutical giant Lilly's stock price soared more than 12% before the market opened. The company announced Q2 results that were better than expected and raised its full-year revenue guidance, mainly due to the strong demand for diabetes drug Mounjaro and weight-loss drug Zepbound.
Company news
Lilly's full-year revenue expectation is raised by $3 billion.
Lilly Pharmaceuticals announced its Q2 results on August 8. Q2 revenue was $11.3 billion, an increase of 36% year-on-year, and the market estimated $9.98 billion. Earnings per share for the Q2 in 2024 increased 68% to $3.28. Lilly expects full-year revenue of $45.4 billion to $46.6 billion, an increase of $3 billion; The guidance for earnings per share for the full year 2024 is raised by $2.05 to $15.10-$15.60.
HP responds to rumors that 'half of PC production will be moved out of China'.
On August 8, it was reported by foreign media that HP is seeking to transfer more than half of its personal computer (PC) production out of China.
HP in China responded to this rumor: 'This is a false report about the recent operating conditions of HP in China. China is an essential part of HP's global supply chain, and we are committed to operating and developing in China. HP's PC manufacturing business still plays a significant role in China and provides high-quality products and services to the global market. To further enhance the resilience of the supply chain, we are actively optimizing strategies, enhancing flexibility, and better serving global customers, meeting their diverse needs.'
Tesla released its Q2 2024 safety report.
On August 8, Tesla released its Q2 2024 safety report. The report stated that Tesla's driving safety is again more than ten times that of ordinary vehicles. Tesla vehicles that enable Autopilot automatic driving function travel an average of 11.07 million kilometers and only experience one traffic accident.
Analysts say Apple may charge for 'Apple Intelligence.'
Neil Shah, a partner at Counterpoint Research, said in an interview that Apple may charge $10-$20 for Apple intelligence as part of Apple One to provide more advanced AI features. Currently, Apple One's monthly fee is $19.95, and users can use various Apple services, including Apple Music. Neil Shah stated that investing in artificial intelligence is expensive, and Apple hopes to pass this cost on to users.
Virgin Galactic's Q2 revenue more than doubled year-over-year, and the Delta spacecraft is still scheduled to launch as planned.
On August 7th local time, space travel company Virgin Galactic (NYSE: SPCE) released its Q2 2024 earnings report. The report showed that the company's Q2 revenue was $4.22 million, compared with $1.871 million in the same period last year; the net loss was $93.775 million, compared with a net loss of $0.134 billion in the same period last year. The company stated that the Delta spacecraft has been built at the final assembly plant in Phoenix, Arizona, and the spacecraft will still be put into commercial service as planned in 2026.
BHP Group plans to sell its Brazilian copper and gold assets according to reports.
According to sources cited by the media, BHP Group Ltd plans to sell its Brazilian copper and gold mining assets acquired through the acquisition of Australian mining company OZ Minerals.
After completing a strategic review of the above assets, BHP Group Ltd has reportedly hired Banco Santander to provide advice for potential sale negotiations.
Events to watch during the US stock market hours (Beijing time)
August 8th
22:00 Wholesale Sales/Inventory Month-to-Month Ratio for USA, June