STOCKS FALL: Here's what you need to know
Carlo Allegri/Reuters
Here's the scoreboard:
- Dow: 21,674.13, -76.60, (-0.35%)
- S&P 500: 2,425.49, -4.52, (-0.19%)
- Nasdaq: 6,216.53, -5.39, (-0.09%)
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- The White House said Bannon and John Kelly, the chief of staff, agreed that Friday would be Bannon's last day. Any lessening of Bannon's influence could be seen as beneficial to markets because of his anti-global-trade stance.
Deere boosted its forecast for sales this year amid more demand for its farming equipment. The company said Friday that "improving market conditions throughout the world" contributed to a 31.1% year-over-year increase in profits.
- A sour bet on the direction of natural gas prices contributed to Goldman Sachs' weak performance in commodities trading during the second quarter. According to The Wall Street Journal, the bank had wrongly bet on an increase in gas prices in the Marcellus shale in Ohio and Pennsylvania.
- Foot Locker crashed 28% after earnings. The sneaker retailer reported earnings of $0.39 a share, much lower than Wall Street's estimates of $0.89. Revenue was also light, coming in at $1.7 billion, which was lower than the $1.8 billion that was expected by the Bloomberg consensus.
Additionally:
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- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley