Stock futures are flat after very first trading day in August

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Stock futures are flat after first trading day in August

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Stock futures open flat

Stock futures opened flat in over night trading on Monday.

Futures connected to the Dow Jones Industrial Average inched 0.06% lower, or 21 points. S&P 500 futures and Nasdaq 100 futures dipped 0.06% and 0.01%, respectively.

— Samantha Subin

The upside from here is restricted over the next couple of months, states Truist’s Lerner

Investors overallocated towards stocks ought to think about utilizing the present market conditions to trim their positions as the advantage for equities is minimal moving forward, states Keith Lerner, co-chief financial investment officer at Truist.

According to Lerner, the advantage for the marketplace over the next couple of months is most likely topped in the 3% to 5% variety, however the drawback might go beyond that quantity.

“The market’s been very resilient, no doubt, and maybe it stays that way for a little bit, but we don’t see the risk-reward as that compelling here,” he stated.

This by no methods is a sign of the top of the marketplace and equities might squeeze greater, however it is a chance to reallocate direct exposure after last month’s strong market rally, Lerner included.

Samantha Subin

Pinterest shares pop 21% as Elliott Management exposes position as biggest financier

Pinterest shares popped more than 21% after the business published stronger-than-expected user numbers and Elliott Management exposed it’s the biggest investor in the image-sharing business.

Activist financier Elliott stated in a declaration that it has “conviction in the value-creation opportunity” at Pinterest, calling the social networks business a “highly strategic business with significant potential for growth.”

“As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest’s next phase of growth,” Elliott composed.

Despite the stock relocation, Pinterest missed out on price quotes for the 2nd quarter on the leading and bottom lines, Monthly active users for the duration was available in 2 million above price quotes.

— Samantha Subin