Here are five things you must know for Monday, July 30:
1. -- Stocks Mixed Ahead of Earnings-Filled Week
U.S. stock futures turned mixed on Monday, July 30, and global shares slipped as investors prepared for a week filled with earnings from the likes of Apple Inc. (AAPL) and Tesla Inc. (TSLA) , a decision on interest rates from the Federal Reserve, and the U.S. jobs report for July.
Contracts tied to the Dow Jones Industrial Average
Besides Apple, which reports earnings on Tuesday, July 31, and Tesla, which releases results on Wednesday, Aug. 1, about 140 companies in the S&P 500 will be posting their financial numbers this week. Analysts have predicted that corporate earnings will grow at 22.7% in the second quarter, the second-fastest pace in the past eight years.
Meanwhile, rate markets will be busy this week, with consumer confidence figures on Tuesday and U.S. nonfarm payrolls on Friday, Aug. 3, sandwiched around a two-day Fed meeting that begins Tuesday in Washington. CME Group's FedWatch tool suggests the Fed won't take any action on interest rates this week.
2. -- Caterpillar Highlights Monday's Earnings Calendar
The economic calendar in the U.S. on Monday includes Pending Home Sales for June at 10 a.m. ET.
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3. -- CBS Discusses Whether Moonves Should Step Down
Some directors of CBS Corp. (CBS) discussed over the weekend whether CEO Leslie Moonves should step aside from the company pending its investigation into allegations he sexually harassed women, The Wall Street Journal reported, citing people familiar with the matter.
The board of CBS is scheduled to meet via conference call on Monday ahead of the release of second-quarter earnings on Thursday, Aug. 2, and is expected to select a special committee to oversee the investigation, the people told the Journal.
The New Yorker published an article on Friday, July 27, that said six women have accused Moonves of harassment and intimidation, and dozens more described abuse at CBS. The story quoted actress and writer Illeana Douglas as saying, "What happened to me was a sexual assault, and then I was fired for not participating."
4. -- BMW Raises Prices in China on U.S.-Made SUVs
BMW, the German carmaker, said it would raise prices on two U.S.-made crossover sport-utility vehicles in China to cope with the additional cost of tariffs on U.S. car imports into the world's biggest auto market, Reuters reported.
BMW told Reuters it will increase retail prices of the X5 and X6 SUV models by 4% to 7%.
BMW's price increases suggest its willing to absorb much of the higher costs stemming from bringing the SUVs to China from its factory in South Carolina.
China imposed new tariffs earlier in July on about $34 billion of U.S. imports, from soybeans and cars to lobsters, as part of a growing trade fight with the U.S.
5. -- Get Your MacCoin
The coins can be exchanged for another free Big Mac starting Friday and throughout the rest of the year.
McDonald's CEO Steve Easterbrook told USA Today that Thursday was selected as the release date for the brass-colored coins because it would've been the 100th birthday of Jim Delligatti, a McDonald's franchisee in western Pennsylvania who invented the Big Mac.
The coin idea sprung from the role that the Big Mac has played in measuring purchasing power, according to USA Today.
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