A screen shows the Fed rate announcement as a trader reacts on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 27, 2022.
Brendan McDermidt | Reuters
Here are the most important news for investors to start their trading day:
An Amazon Prime truck driver was spotted in Los Angeles, California on Amazon Prime Day on July 12, 2022.
Frederick J. Brown | AFP | Good pictures
Well, Amazon’s consumers, anyway. Shares of the e-commerce giant fell earlier this week, when Walmart cut its profit outlook Historical levels of inflation weigh on consumers. But Amazon executives said Thursday, when the company reported quarterly earnings, that inflation hasn’t hit its customers as hard as other retailers. This is because Amazon and Walmart appeal to different customers. “The core consumers at Amazon are better than the consumers at Walmart, and that helps Walmart outperform,” said Tom Forte, an analyst at DA Davidson. Amazon shares rose sharply in premarket trading. CNBC’s Annie Palmer Breaks it down here.
Customers hold the new green Apple iPhone 13 Pro shortly after it went on sale at the Apple Store on 5th Avenue in New York on March 18, 2022.
Mike Shekar | Reuters
Apple shares rose in premarket trading after the giant gadget purveyor topped Wall Street’s expectations. Quarterly revenue and earnings. Cupertino kids can thank their pride and joy, the good, reliable iPhone. Strong sales came despite the iPhone 13 being in the second half of its production cycle, meaning a new model is coming soon. “We had a record volume of switchers and saw double-digit growth in new customers to iPhone,” said CEO Tim Cook. However, when Cook said the company expects revenue growth to be strong in the current quarter, he cited “pockets of softness.” A potential area of concern is the slowdown in Apple’s services growth. CNBC’s Giff Lesswing writes.
LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York.
Leslie Josephs | CNBC
It took months, a lot of back-and-forth sniping, multiple offers and a few late shareholder votes, but Jet Blue Finally did it. The airline convinced the low-cost carrier the spirit to ditch its tie-up with a fellow low-cost carrier the frontier and agreed to be acquired by JetBlue in a $3.8 billion deal. Now comes the hard part For JetBlue and Spirit: Merger-skeptic Biden requires management to sign off on acquisition. For example, the Justice Department sued last year to block JetBlue’s Northeast alliance. American Airlines. The case will be heard in September. Still, JetBlue remains optimistic and predicts regulators will sign off on the Spirit deal late next year or early 2024, with the merger finalized in the first half of 2024. CNBC’s Leslie Josephs Here explains.
US President Joe Biden and Chinese President Xi Jinping spoke on the phone on Thursday. Their virtual meeting on November 15, 2021 is pictured here.
Mandel Naga | Afp | Good pictures
President of the United States Joe Biden and the Chinese President Xi Jinping They spoke for more than two hours Thursday as they began preparations for their first face-to-face meeting since Biden took office. Prolonged talks between the leaders of the two superpowers led to the passage of the bill to the House Increase US competitiveness With China up to Biden, and the world focused on Taiwan, a self-governing island that China claims as its own. House Speaker Nancy Pelosi, D-Calif., has hinted that she may visit Taiwan during a swing to Asia that begins this week, which could strain relations between the U.S. and China. Earlier this week, meanwhile, The New York Times reported US officials are increasingly concerned that China may move against Taiwan in the next 18 months. Despite all this, according to experts, Biden and Xi had a constructive call. Read CNBC reporter Evelyn Cheng’s Pick up here from Beijing.
— CNBC’s Jesse Pound, Annie Palmer, Kiff Lesswing, Leslie Josephs and Evelyn Cheng contributed to this report.
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