TV's The Cow Guy Scott Shellady discusses the economic recovery amid surge in the Delta variant.
U.S. stock indexes fell Wednesday as traders assessed a disappointing report on private-sector hiring and another barrage of earnings reports.
The Dow Jones Industrial Average fell 168 points, or 0.48%, while the S&P 500 and the Nasdaq Composite lost 0.32% and 0.05%, respectively.
The July ADP employment report showed private-sector hiring slowed sharply last month amid a rise in COVID-19 infections. U.S. firms added 330,000 new workers in July, down from 680,000 in June. The Labor Department will release the July nonfarm payrolls report on Friday.
In stocks, Robinhood Markets Inc. remained in focus a day after soaring past its $38 initial public offering price.
Victoria’s Secret & Co. shares were also under close scrutiny after splitting from L Brands on Tuesday and soaring 27% in their stock market debut.
In earnings, CVS Health Corp. beat on both the top and bottom lines and raised its full-year earnings forecast amid signs consumer shopping patterns and use of health care benefits are normalizing.
General Motors Co. swung to a quarterly profit and raised its full-year forecast as it continued to prioritize high-margin vehicles amid the global chip shortage. Strong demand for used cars continued to drive record results for GM Financial.
Lyft Inc. reported revenue surged 125% from a year ago as ridership continued to rebound from pandemic levels. The ride-hailing company said it had 17.14 million riders last quarter, down from 21.2 million in the first quarter of 2020.
Meanwhile, Activision Blizzard Inc. topped Wall Street estimates and announced the departure of two executives as it looks to improve its culture in the wake of a gender-bias lawsuit.
In commodities, West Texas Intermediate crude oil fell $1.65 to $68.91 a barrel and gold jumped $19.80 to $1,833.90 an ounce.
Overseas markets were mostly higher.
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European bourses rallied across the board with Germany’s DAX 30 up 0.35%, France’s CAC 40 gaining 0.15% and Britain’s FTSE 100 rising 0.12%.
In Asia, Hong Kong’s Hang Seng index and China’s Shanghai Composite advanced 0.88% and 0.85%, respectively, while Japan’s Nikkei 225 lost 0.21%.
Stock futures slip ahead of ADP jobs report - Fox Business
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