5 things to know before the stock market opens on Thursday, August 8

Here are the most important news investors need to start their trading day:

Stocks closed lower on Wednesday, failing to fully recover from Monday’s selloff. this Dow Jones Industrial Average fell 0.60% to close at 38,763.45 points, while S&P 500 Index It fell 0.77% to close at 5,199.50 points. this Nasdaq Index The major indexes had the largest decline of 1.05%, closing at 16,195.81 points. Tuesday’s trading session was a bright spot for the market, with the S&P and Nasdaq up 1% and the Dow Jones rising nearly 300 points. Follow real-time market updates.

Warner Bros. Discovery The company’s quarterly results fell short of analysts’ expectations when it reported its quarterly results after the bell on Wednesday. The company reported a loss of 36 cents per share on revenue of $9.7 billion, while analysts polled by LSEG expected a loss of 22 cents per share on revenue of $10.07 billion. Warner Bros. Discovery also reported a $9.1 billion non-cash goodwill impairment charge at its television networks unit, which the company said was due to “the difference between market value and book value, continued weakness in the U.S. linear advertising market and related uncertainty”. Affiliation and sports rights renewals, including NBA. ” However, streaming has been a positive factor for the company during this period. Warner Bros. Discovery Channel said its subscriber base increased by 3.6 million, bringing the total number of global streaming users to 103.3 million.

Consumers aren’t the only ones pushing for lower prices. In the run-up to the November election, politicians are now promising to fight inflation, although they blame it on different causes. For example, Vice President Kamala Harris said she would address “price gouging” by companies, while former President Trump took aim at the Biden administration’s policies. Sens. Bob Casey, D-Pennsylvania, and Sherrod Brown, D-Ohio, attacked companies for “shrinkinflation,” the practice of charging the same price for goods but reducing their size. This is as Walmart, McDonald’s and hook upOn top of this, they find themselves caught up in the high-inflation debate and face criticism over affordability.

The recession may still be underway. JPMorgan CEO Jamie Dimon said the chance of a “soft landing” for the U.S. economy is about 35% to 40%, meaning he thinks a recession is more likely. “There’s a lot of uncertainty,” he told CNBC’s Leslie Peake. “I always point out that geopolitics, housing, deficits, spending, quantitative tightening, elections, all of these things can cause panic in the market.” Dimon also said that when it comes to the Fed lowering the inflation rate to 2%, He was “a little skeptical.” “I’m completely optimistic that if we have a mild recession or even a more severe recession, we’ll be fine,” he continued. “Of course I have a lot of sympathy for the people who are out of work. You don’t want a hard landing.”

Apple’s advanced artificial intelligence capabilities may come at a cost to customers. Analysts told CNBC that the company may charge users up to $20 for Apple Intelligence, which is scheduled to be released on select devices later this year. “Software and services make it more profitable apple Neil Shah, a partner at Counterpoint Research, said in an interview with CNBC last week: “It will be passed on through the Apple One subscription model.” At the same time, Apple One charges users $19.95 per month to access Apple Music and other services. kind of service. [it] It’s going to learn more and more about you, and you’re going to be locked into the model itself because you can’t bring your model from Apple to Android,” he continued.

— CNBC’s Hakyung Kim, Brian Evans, Lillian Rizzo, Melissa Repko, Amelia Lucas, Hugh Son and Arjun Kapoor contributed to this report.

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