Here are five things you must know for Thursday, Aug. 8:
1. -- Stock Futures Rise as Strong China Export Data Calm Nerves
U.S. stock futures rose Thursday and global bond yields eased from multi-year lows following stronger-than-expected export data from China and as investors returned cautiously to risk markets around the world.
Contracts tied to the Dow Jones Industrial Average rose 68 points, futures for the S&P 500 gained 10.90 points, and Nasdaq futures were up 43 points.
Stocks finished mixed Wednesday in a wild trading day, paring sharp losses sparked by fears over the U.S.-China trade war. At its session low, the Dow fell nearly 600 points, before finishing the day down 22 points, or 0.09%, to 26,006.
China's exports in July rose 3.3% from last year while imports slowed by 5.6% amid weakening domestic demand and a broader consumer push for made-in-China goods. China's U.S. exports fell 6.5% from last year and its trade surplus narrowed to $27.97 billion. However, China's year-to-date trade surplus with the U.S. totaled $168.5 billion, the highest on record even in the face of tariffs that affect nearly $250 billion in goods from Beijing.
The stronger China data, as well as gains for equities in Asia, offset concerns linked to China's latest yuan peg, which set the midpoint for its currency at 7.0039 per dollar, the first time Chinese officials have breached the 7 threshold since April 2008.
The fixing was stronger than markets had anticipated, and the move appeared to ease concerns that Beijing would provoke a reaction from Donald Trump after he falsely claimed Wednesday that China had "admitted" it was manipulating its currency and told reporters in Washington the country was "killing" the United States "with unfair trade deals."
In the U.S. Thursday, the economic calendar includes weekly Jobless Claims at 8:30 a.m. ET, and Wholesale Trade for June at 10 a.m.
2. -- Lyft Surges After Raising Revenue Guidance
The stock was up 6.04% to $63.93 in premarket trading Thursday.
Left posted an adjusted loss in the quarter of 68 cents a share, narrower than Wall Street forecasts that called for a loss of $1.07. A year earlier, Lyft posted an adjusted loss of $8.37 a share.
Revenue in the quarter was $867.3 million, up 72% from a year earlier and ahead of analysts' expectations of $809 million.
Left said it expects fiscal-year revenue of $3.47 billion to $3.5 billion, up from a previous forecast of $3.28 billion to $3.3 billion. Adjusted loss before interest, taxes, depreciation and amortization is now expected at $850 million to $875 million, narrower than the previous expectation of $1.15 billion to $1.18 billion.
"We're excited about our strong performance this quarter, built on incredible effort across all of our teams," CEO Logan Green told investors on a conference call. "Our 72% revenue growth rate this quarter is exceptional at our scale. We are increasingly confident in the market outlook for U.S. ridesharing as the competitive environment continues to show signs of improvement."
The number of active riders in the second quarter rose 41% to 21.8 million, beating the consensus estimate of 20.9 million. Revenue per active rider was $39.77, up 22% from a year earlier.
Lyft rival, Uber Technologies (UBER) , is expected to report earnings after the closing bell Thursday.
3. -- Uber, Viacom and Kraft Heinz Report Earnings
In addition to Uber, earnings reports are expected Thursday from Viacom (VIAB - Get Report) , Kraft Heinz (KHC - Get Report) , Activision Blizzard (ATVI - Get Report) , Booking Holdings (BKNG - Get Report) , Cardinal Health (CAH - Get Report) , CBS (CBS - Get Report) , Yelp (YELP - Get Report) , AMC Entertainment (AMC - Get Report) , New Age Beverages (NBEV - Get Report) , Symantec (SYMC - Get Report) , DXC Technology (DXC - Get Report) , Dropbox (DBX - Get Report) , Keurig Dr Pepper (KDP) and Overstock.com (OSTK - Get Report) .
4. -- Broadcom Close to Buying Symantec's Enterprise Business - Report
A deal for the Symantec business could be announced as early as Thursday, when Symantec reports its results, The Wall Street Journal reported, citing people familiar with the matter.
The deal could value the Symantec division at around $10 billion, one of the people told the Journal. Symantec's entire market value is about $12.6 billion.
Broadcom had been in late-stage discussions to buy all of Symantec but the talks collapsed in June.
Symantec shares jumped 12.74% to $23.01 in premarket trading Thursday. Broadcom declined 0.39%.
5. -- Salesforce to Buy ClickSoftware for $1.35 Billion
"Our acquisition of ClickSoftware will not only accelerate the growth of Service Cloud, but drive further innovation with Field Service Lightning to better meet the needs of our customers," said Bill Patterson, an executive vice president and general manager of Salesforce's Service Cloud.
The acquisition is expected to close during Salesforce's fiscal quarter ending Oct. 31.