AI Generated Image
5 things to know before the stock market opens Wednesday
CNBC • • business
Key Points:
- SpaceX reported better-than-expected Q2 revenue and a smaller loss than anticipated, but its stock fell 11% after revealing a sixfold surge in capital expenditures, mostly on AI investments expected to pay off within a year.
- The Dow Jones and S&P 500 hit new all-time highs, with the S&P closing above 7,700 for the first time, supported by geopolitical optimism, though investor Michael Burry warned the market may be near a major top.
- Disney beat earnings estimates with strong growth in its parks, cruises, and streaming segments, and announced a new partnership with TikTok aimed at attracting younger audiences.
- Procter & Gamble is acquiring supplement brand Thorne for $3.8 billion to expand its health portfolio, adding to its existing brands like Align Probiotic and New Chapter.
- Chipotle temporarily removed jalapenos from Minnesota stores due to a potential salmonella outbreak linked to its supply chain, causing shares to drop nearly 10%, its worst decline since October.
