Sunday , August 14 2022

Premarket: What you need to know before the opening



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Careem was established in 2012 and has since attracted 30 million consumers across 90 cities in the Middle East, North Africa and Pakistan. It was sold more than $ 2 billion in a funding round in October.

Based in Dubai, Careem will operate under its own brand as a subsidiary of Uber and will continue to be led by CEO of Mudassir Sheikha. In an email to Uber staff members seen by CNN Business, CEO Khosrowshahi said that keeping the brand and Careem operations "is advantageous to let us build new products and try new ideas across one, but two strong brands. "

Uber is preparing for an initial public proposal which is expected to take place later this year. It is said to seek a valuation of as much as $ 120 billion.

2. Winning Airbus: t Airbus (EADSF) reached an agreement to sell 300 passenger jets to Chinese airlines. The agreement was signed during the visit of the Chinese President Xi Jinping to France.
The announcement was another blow to Airbus's biggest competitor Boeing (BA), struggling with a big crisis. His jetliner, the 737 Max, has been shocked all over the world after taking part in two fatal accidents.

The Chinese command includes 290 aircraft from the Airbus A320 family and 10 from the A350 line, the company said in a statement.

Based on the Airbus list prices, aircraft are worth around $ 35 billion in total, but customers usually receive significant discounts from the list price and can get larger discounts for huge orders.

Shares in Airbus earned more than 1.5% in early European trade.

3. What next for Brexit?: The pound in Tuesday volatile followed another time in the Brexit saga.

UK legislators have voted to seize temporary control of the process by Prime Minister Theresa May, clearing the way for a series of votes on alternatives to Brexit's divorce agreement in May.

The basic options remain the same: let the European Union have an agreement to negotiate, crash out of the block or try another delay to the process.

The UK government and the Bank of England have warned of serious economic consequences if Britain is leaving the European Union without a deal protecting trade.

4. Housing data: A series of reports on US real estate is expected on Tuesday, giving investors another insight into the health of the United States economy.

Premises licenses and housing starts data will be released at 8:30 pm ET, with the Federal Housing Finance Agency's House Price Index and US home prices index S & P / Case-Shiller to be published at 9 a.m. ET.

US consumer confidence data will follow on 10 a.m. ET.

The number of signs warning about the US economy is increasing. The yield on treasures increased 3 months higher than the 10 year Treasury rate for the first time since 2007 on Friday. A flat yield curve, or the difference between short and long-term rates, is usually seen as a sign that long-term economic confidence is reducing.

5. Overview of the global market: The future of US stock was higher.
European markets opened up mixed. Stocks in Asia were also struggling to find a direction.
Dow Jones industrial average closed 0.1% on Monday. The S&P 500 has the Nasdaq shed 0.1%.
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6. Earnings and economics: t Carnival (LCC) a McCormick (MKC) it will release earnings before the opening.

A survey by GfK, Germany's largest market research organization, showed that consumer confidence will fall in April. Economists questioned by Reuters had expected a slight increase.

The European Parliament will vote on Tuesday on new copyright rules. If passed, the bill will dramatically change the way large technology companies handle copyrighted material on it.

Google (GOOGL) and other technology giants have been lobbying against the law. Publishers include as record labels among its supporters.
7. Coming this week:
Tuesday – US buildings allow; Housing in the US begins; S & P / Case-Shiller home prices; McCormick (MKC) a Carnival (LCC) earnings
Wednesday – Balance of US trade data; Lululemon (LULU) earnings
Thursday – UK consumer confidence; Final C4 US estimate
Friday – Huawei earnings; Carmax (KMX) earnings
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