August 11 Premarket Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, Aug. 11:
1. -- U.S. stock futures were rising going into Monday, following a rocky week in the markets and despite continuing geopolitical instability.
European stocks were shrugging off last week's geopolitical gloom on Monday, as Russia appeared to step back from the brink over Ukraine and on hopes that U.S. airstrikes in Iraq may have slowed the advance of Islamist rebels there. A renewed three-day ceasefire between Israel and Hamas in Gaza also played a part.
2. -- The economic calendar in the U.S. on Monday includes the weekly update on the Federal Reserve funds rate, but little change is expected.
3. -- On Friday U.S. stocks rebounded a bit after a rocky week in which the market initially sank and gave back some of its end-of-July gains.
The Dow Jones Industrial Average
4. -- In its continued drive for low prices, Amazon
And Amazon is also taking on Walt Disney
Amazon is also in hot water for its $800 million in losses this quarter. Amazon's Jeff Bezos has long insisted on the long view on Amazon's profits. The question is whether Amazon is trying to get more concessions from publishers because the "everything store" increasingly needs to support its bottom line.
5. -- McDonald's
Shanghai Husi was accused of selling expired and relabeled meat, as well as meat that was not processed properly. Yum!'s Chinese website showed that it had 26 suppliers.
Friday McDonald's reported its weakest performance in 10 years. In premarket trading Monday the stock was up 0.26% to $93.55.
6. -- The Keystone XL pipeline has been a source of political dispute for years now. And President Obama has said that he will not allow the oil pipeline to be completed unless it does not make carbon dioxide emissions worse. However, a new study says that the Keystone pipeline could case emissions four times worse than were previously projected by the government.
Estimates from Peter Erickson and Michael Lazarus of the Stockholm Environment Institute in Seattle found that the pipeline would lower gas prices and drive up consumption as a result. The supply-focused analysis is an unusual tack in energy resource analysis. The new paper may further delay the pipeline.