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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 30, 2022.
Brendan McDermid | Reuters
US stock futures fell on Tuesday, as investors worried about heated geopolitical tensions between Beijing and Washington ahead of House Speaker Nancy Pelosi’s scheduled visit to Taiwan. Treasury yields also slipped on Tuesdaywith the marker 10-year Treasury bond trading as low as 2.516% as investors flocked to the perceived safety of US government debt. Actions in Mainland China and Hong Kong fell on Tuesday too, and the yen, considered a safe-haven currency, strengthened further. On Monday, Wall Street’s major stock indexes ended in the red, snapping three-day losing streaks.
An image of Speaker of the House Nancy Pelosi holding her weekly press conference on Capitol Hill Friday, July 29, 2022 in Washington, DC. US House of Representatives Speaker Nancy Pelosi was due to arrive in Taipei later on Tuesday, sources briefed on the matter said, as several Chinese warplanes flew near the center line dividing the Taiwan Strait. , a source told Reuters.
Kent Nishimura | Los Angeles Times | Getty Images
Chinese warplanes flew near the center line in the Taiwan Strait, Reuters reported Tuesday citing a source. Beijing has warned Pelosi against visiting Taiwan, a self-governing island that China claims as its territory. Pelosi is touring the region, but his planned visit to Taiwan has not been officially announced. Tensions between China and Taiwan have been on the rise during the last years.
Uber CEO Dara Khosrowshahi speaks during a product launch event in San Francisco, California on September 26, 2019.
Philippe Pacheco | AFP via Getty Images
Shares of UberTechnologies surged on Tuesday after the food transportation and delivery company reported quarterly revenues above expectations. Uber’s second-quarter sales came in at $8.07 billion, well ahead of analysts’ forecast of $7.39 billion, according to Refinitiv. However, Uber posted a net loss of $2.6 billion for the quarter, which includes a $1.7 billion loss related to the revaluation of its investments in Grab Aurora and Zomato. Operating losses for the quarter ended June 30 totaled $713 million, but the company reported positive free cash flow of $382 million. In May, CEO Dara Khosrowshahi told employees in a memo that cash flow positivity was becoming an important near-term goal.
A BP logo pictured in London May 12, 2021. The International Energy Agency recently reported that in 2021 energy-related carbon dioxide emissions reached their highest level in history.
Glyn Kirk | AFP | Getty Images
British oil giant PB and U.S. shale producer Devon Energy reported strong quarterly profits and increased dividend payouts as strong crude prices this year helped companies bolster their capital return programs. BP, which on Tuesday posted a profit of $8.5 billion in the second quarter, increased its quarterly dividend by 10% to 6.006 cents per common share. Devon Energy, which returned on Monday second quarter results better than expected up and down, announced a 22% increase in its dividend. Using a fixed and variable dividend strategy, Devon’s quarterly payout is now $1.55 per share, down from $1.27 previously.
A banner for online image board Pinterest Inc. hangs on the New York Stock Exchange (NYSE) the morning of Pinterest’s IPO on April 18, 2019 in New York City.
Spencer Platt | Getty Images News | Getty Images
Pinterest shares soared around 18% in premarket trading on Tuesday, a day after the social media company’s quarterly earnings and revenue fell short of Wall Street forecasts, and the current quarter forecast came in weaker than expected. While Pinterest’s monthly decline in active users hasn’t been as severe as feared, the company’s results nonetheless show the tough operating environment for the social media name at the moment. pinterestShares may react to news from activist investor Elliott Management on Monday disclosed that he was the company’s largest shareholdertouting the “value creation opportunities” he sees.