This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

July 30 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, July 30:

1. -- U.S. stock futures were bounding upward on Wednesday morning, as investors set up for another big earnings day.

European stocks were steady, as Barclays (BCS) reported a profit and Bayer (BAYRY) and Airbus (EADSY) also reported. Despite looming sanctions against Russia over the Ukraine conflict, European stocks showed little movement.

2. -- The economic calendar in the U.S. on Wednesday is busy, with a deluge of company earnings reports, as well as the conclusion of the two-day Federal Open Market Committee meeting. The Fed's announcement falls on the same day as second-quarter GDP figures are announced.

Read More: Cheap Russian Stocks Still Not Worth Risk, TIAA-CREF's Muromcew Says

3. -- U.S. stocks on Tuesday were dragged down by concerns over sanctions against Russia for its role in the Ukrainian conflict, and on uncertainty over the Fed meeting which concludes today. 

The Dow Jones Industrial Average (DIA) closed down 0.42% to 16,912.11, down from the 17,000 mark it touched in intraday trading. The S&P 500 (SPY) slumped 0.45% to 1,969.95. The Nasdaq (QQQ) sank 0.05% to 4,442.70. 

4. -- Twitter (TWTR) reported last night, and the bulls were delighted. The social media site has pumped up user growth and beat analysts' expectations.

Twitter earned a non-GAAP 2 cents per share on $312 million in revenue. Analysts expected the company to lose 1 cent a share on $283 million in revenue. The company also boasted of 271 million monthly active users, up 24% year-over-year.

Shares popped nearly 26% in premarket trading to $48.72 after a close Tuesday at $38.59.

Read More: How Twitter's Blowout Quarter Changed My Mind -- It's Not Overvalued

5. -- The federal National Labor Relations Board said that McDonald's (MCD) is at least partially responsible for its franchise stores, dealing a setback to the hamburger-slinger. The ruling means that the company can be held liable for labor violations, even those committed by its franchisees. Some fast-food workers had complained of unfair labor practices. In the U.S., 90% of McDonald's stores are run by franchisees.

The McDonald's ruling could have larger implications, since it suggests that companies that use subcontractors may not escape liability for actions done by those contractors.

McDonald's said it would contest the ruling. Shares were up 0.15% to $95.96 in premarket trading.

6. -- Amazon (AMZN) is investing $2 billion in its India operation to push back against Flipkart. The "everything store" announced the move just after Flipkart said that it had raised $1 billion from investors. Amazon said that it was on pace to reach $1 billion in gross sales in India. Both companies want a piece of the Indian e-commerce market, which may reach $22 billion by 2018.

Amazon stock was down 0.61% in premarket trading, to $318.04.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs