Morning Briefing: Intel CEO says chip shortage could Stretch into 2023
By Jimmy
Hey moomooers! Here are things you need to know before the opening bell:
- Stock futures rose Friday, as the major averages tried to post their fourth straight day of gains, overcoming concerns about economic growth earlier in the week.
- GOP Senators resist raising debt ceiling as democrats push Biden spending plans
Market snapshot
Stock futures rose Friday, as the major averages tried to post their fourth straight day of gains, overcoming concerns about economic growth earlier in the week.
Futures on the Dow Jones Industrial Average gained 148 points. S&P 500 futures rose 20.5 points. Nasdaq 100 futures climbed 76.25 points.
Crypto
$Bitcoin(BTC.CC$traded 0.47% higher at $32,263.75 over 24 hours at press time. Over a week, the apex coin has risen around 2%.
$Ethereum(ETH.CC$traded 2.10% higher at $2,046.20 over 24 hours. Over a seven-day trailing period, ETH traded about 6% higher.
$Dogecoin(DOGE.CC$was up 0.23% at $0.1901. The Shiba Inu-themed coin traded about 4% higher for the week.
Top news
GOP Senators resist raising debt ceiling as democrats push Biden spending plans
The ceiling will be reinstated next month. And unless that limit is raised or suspended, the U.S. government may run out of money to pay bills this fall.
Singapore's GIC sees green shoots in uncertain global environment
Sovereign wealth fund GIC remains cautious on uncertainty related to the pandemic and inflation concerns, but sees new growth opportunities emerging in areas including technology and sustainability.
U.K. consumer confidence rises in July, beating expectations
Market-research firm GfK's consumer-confidence indicator came in at minus seven in July, up two points from June and edging ahead of pre-Covid-19 levels. Economists had forecast an unchanged reading.
Western wildfires lift lumber prices
Fires are threatening an important swath of the U.S.'s wood supply, pinching output that has been under pressure since the pandemic touched off homebuying and remodeling booms and sent lumber prices soaring.
Unemployment benefit rolls shrink, but new applications rise
The number of people receiving benefits fell sharply at the start of the month but first-time applications rose as supply constraints persist in the auto industry.
U.S. median home price hit new high in June
Existing-home sales rose 1.4% in June from the prior month to a seasonally adjusted annual rate of 5.86 million while the median home price rose to a new high of $363,300.
Analysis: unlocking household savings is key to Europe's economic recovery
Household savings have surged in the pandemic and channeling them into consumption will be crucial to the pace of recovery in the Eurozone and U.K.
ECB looks to keep rates low for longer
The European Central Bank signaled that it would keep supporting the eurozone economy as a surge in Covid-19 cases driven by the Delta variant weighs on the region's tourism industry.
Intel CEO says chip shortage could Stretch into 2023
It could take one or two years to get back to a reasonable supply-and-demand balance in the semiconductor industry, Pat Gelsinger said in an interview after Intel posted largely flat second-quarter sales and profit.
Key events this week
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Anne Anne : Great
Kimochi : Read
Sharkie888 : if there is a shortage of chips, why are the profit not going up ? what are the company doing to increase production to increase sales , beside buying another company ?
Lim Ming Tat : .