Morning Briefing: Globalstar rose 20% as Apple could partner with it

Moomoo Breakfast US wrote a column · Aug 30, 2021 18:14

Morning Briefing: Globalstar rose 20% as Apple could partner with it

By Julianna

Hey, moomooers! Here are things you need to know before the opening bell:

- U.S. stock futures were steady in early morning trading on Monday as investors readied for the final trading days of August.

- The stock price of Globalstar, Inc. increased by over 20% pre-market. Investors appear to be responding positively to a rumor that the Apple iPhone 13 will use satellite connectivity.

Market Snapshot

U.S. stock futures were steady in early morning trading on Monday as investors readied for the final trading days of August.

$Dow Jones Industrial Average (.DJI.US)$futures rose just 19 points. $S&P 500 Index (.SPX.US)$futures were little changed and $NASDAQ 100 Index (.NDX.US)$futures traded above the flatline.

Source: Bloomberg

Top News

Aluminum hits decade highs on soaring demand, snarled supply

Prices of the metal are reaching 10-year highs, as buyers far from storage centers in Asia compete to line up shipments for use in beverage cans, airplanes and construction.

Treasury demand shows resilience as Fed signals bond-buying pullback

Investors keep buying U.S. Treasury securities, defying predictions for a broad selloff that would send bond yields back to their March highs.

Stock market turns cautious as 'Defensive' shares surge

Utilities and healthcare are among the best-performing groups in the S&P 500 so far this quarter, noteworthy because investors typically pile into those types of stocks when they are expecting the outlook to darken.

Fed faces new challenge spelling out employment goals

Federal Reserve officials are talking more about how to define a fuzzy concept-maximum employment-that will heavily influence their thinking around how much longer to keep interest rates near zero.

Crypto firms want Fed payment systems access-and banks are resisting

Efforts by the new breed of financial entities, if successful, could create more competition for traditional banks.

Baxter is in advanced talks to buy Hill-Rom for about $10 billion

The talks follow an earlier bid from $Baxter International Inc (BAX.US)$that medical-equipment maker Hill-Rom Holdings rebuffed and come amid a boom in healthcare merger activity this year.

GM's Chevy bolt recall casts shadow over EV push

$General Motors (GM.US)$this month expanded the Bolt safety recall for the second time and paused production of all new Bolts. The safety action on its lone U.S. electric car will cost GM an estimated $1.8 billion, among its costliest recalls.

CVS wants to be your therapist, too

$CVS Health (CVS.US)$The pharmacy chain is joining Walgreens and Walmart in offering expanded in-person counseling at or near stores, as more people seek mental-health services.

Boeing puts air force one supplier GDC on path to solvency

$Boeing (BA.US)$has settled its differences with GDC Technics, a bankrupt supplier of products and services for Air Force One that filed for chapter 11 over contract disputes involving the presidential plane.

Astra CEO says space is 'hard' but not 'giving up' after rocket fails test launch

Here's what Apple CEO Tim Cook plans to do before stepping down

IPO Recap：Amazon-backed EV maker Rivian files for confidential IPO

What to expect in the week ahead (LI, ZM, NTES, CRWD)

Key Events This Week