Pepsi earnings; Snapchat sinks; Amazon’s Prime time


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Premarket: 5 things to know before the bell – Jul. 11, 2017

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1. Pepsi pop: PepsiCo (PEP) is releasing quarterly numbers ahead of the open, kicking off a new earnings season.

Wall Street will be watching for signs that more health-conscious U.S. consumers are shying away from Pepsi’s sugary drinks and snacks. Pepsi makes products including Doritos and Cheetos.

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2. Stocks to watch — Snapchat, Berkshire Hathaway, Amazon: Snapchat parent company Snap (SNAP) is getting some unwanted attention after the stock closed below its $17 IPO price on Monday. This is the first time shares have dipped below the key psychological level since their debut in March.

Berkshire Hathaway (BRKB) is also in focus after CEO Warren Buffett gave away $3.2 billion in company shares to charity, according to a company statement. Buffett has donated billions to charity every year for more than a decade.

Amazon’s (AMZN, Tech30) third-annual Prime Day is in full swing after launching on Monday.

Amazon uses the sale as a way to lure customers to sign up for its Prime service. Members spend an average of about $1,100 a year on the site, not including the membership fee, while non-members spend an average of $600.

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3. America has lots of job openings: After the strong June jobs report was released on Friday, another gauge of the U.S. labor market is due at 10 a.m. ET.

The JOLTS report for May will detail the number of open jobs in the U.S. and whether Americans are confident enough to quit their current positions in search of better ones.

4. Mixed emotions: Investors around the world seem to be having some mixed emotions right now.

U.S. stock futures are holding steady.

European markets dipped in early trading. But most Asian markets ended the day with gains.

This follows a relatively uneventful Monday. The Dow Jones industrial average was flat, while the S&P 500 edged up by 0.1% and the Nasdaq rose 0.4%.

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5. Coming this week:

Tuesday — Amazon Prime Day; Pepsi (PEP) earnings; International Energy Agency publishes annual World Energy Investment Report
Wednesday — Federal Reserve chair Janet Yellen begins two days of back-to-back hearings about monetary policy before House and Senate lawmakers; OPEC issues monthly oil report; U.K. releases unemployment figures
ThursdayDelta Air Lines (DAL) earnings
Friday JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC) earnings; President Trump in Paris for Bastille Day

CNNMoney (London) First published July 11, 2017: 5:12 AM ET


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