Morning Briefing: AT&T beats wireless subscriber additions estimate on 5G demand

Moomoo Breakfast US wrote a column · Jul 22, 2021 18:37

By Jimmy

Hey moomooers! Here are things you need to know before the opening bell:
- U.S. stock index futures were higher on Thursday as stable bond yields continued to give the green light to investors to buy stocks following Monday’s market rout.
- Elon Musk says he personally owns bitcoin-and so does SpaceX

Market snapshot

U.S. stock index futures were higher on Thursday as stable bond yields continued to give the green light to investors to buy stocks following Monday’s market rout.

Futures contracts tied to the Dow Jones Industrial Average gained 73 points, pointing to a third day of gains for the blue-chip average following Monday’s pullback. S&P 500 futures rose 6.5 points and Nasdaq 100 futures also added 12.5 points.

Source: Bloomberg

Crypto

The apex cryptocurrency — $Bitcoin (BTC.CC)$— traded flat at $31823.9 over 24 hours. $Ethereum (ETH.CC)$was in the green 1.4% at $1977.75. Meme-themed $DOGE/BTC (DOGEBTC.CC)$traded 0.34% higher at $0.1889.
Bitcoin futures move lower as Elon Musk, Jack Dorsey discuss 'physical' crypto wallets at B-Word event. The European Union (EU) has proposed banning anonymous cryptocurrency wallets as part of a new set of amendments to counter money laundering and terrorism.

Source: moomoo

Top news

Republicans block infrastructure bill but talks to continue

Senate Republicans blocked an effort to begin debate on a bipartisan infrastructure deal still under negotiation, but lawmakers said they expected to close in on a final agreement by early next week.

Elon Musk says he personally owns bitcoin-and so does SpaceX

The Tesla CEO generally supports the cryptocurrency despite harboring concerns about its environmental impacts.

House Committee to weigh corporate bankruptcy 'abuses'

The House Judiciary Committee said Wednesday it will hold hearings beginning next week to address what it described as "abuses" of the corporate bankruptcy system, including a legal strategy the owners of OxyContin maker Purdue Pharma LP are pursuing to shield themselves from opioid litigation.

A tech IPO boom is coming to unicorn-rich India

India is gearing up for tech IPOs, including two worth more than $1 billion, as startups look to tap a stock market that has proved resilient despite Covid-19.

Bank Indonesia holds benchmark rate to safeguard Rupiah

Indonesia's central bank kept its benchmark interest rate unchanged to safeguard the stability of the rupiah.

Australia posts record trade surplus on commodity exports

Australia recorded a record trade surplus in June, helped by significant increases in exports of iron ore, coal, nonmonetary gold, and gas, according to the statistics bureau's preliminary estimates.

French manufacturing sector confidence improves

The latest sentiment reading for the French manufacturing sector rose above forecasts in July, despite supply disruptions and the spread of the Delta variant across Europe

Car dealers can keep rolling after supply crunch

Auto dealers like AutoNation and Lithia are spending less and making more, and some supply-crunch gains could be lasting.

$AT&T (T.US)$beats wireless subscriber additions estimate on 5G demand

AT&T Inc on Thursday beat analysts' estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones. The company, which also raised its full-year revenue and adjusted earnings per share growth forecasts, added 789,000 net new postpaid phone subscribers during the quarter, above FactSet estimates of 278,000.

Key events this week