attempts. good morning. and welcome to way too early. on this thursday, july 21st. i m jonathan lemire. thanks for joining us. we begin with tonight s eighth hearing from the house january 6th committee investigating the attack on the capitol. it is set for 8:00 p.m. eastern and is expected to last about two hours. the committee says it is likely to be the final of this round of hearings. but more are likely to be scheduled around the release of two reports later this year. the committee chair bennie thompson will lead the hearing and he will do so remotely after testing positive for covid on tuesday. the hearing will focus on what the committee calls a former president trump s dereliction of duty. and a minute by minute account of what happened inside the white house between trump s rally at the ellipse and his tweet finally telling the capitol rioters to go home. the washington post is reporting this morning that the public could see outtakes from trump s january 7t
what do you think? could reports, profit reports lead to a good day on wall street again? well as of now, u.s. futures are in for a downbeat start to trade, perhaps a little bit of profit taking after yesterday s strong session. and the tech heavy nasdaq gain about 1.6%. on part on the back of the netflix results which came out after the bell in the previous sessions. and the s&p 500 also gained yesterday 0.6%. and global investors seem to be breathing a sigh of relief that the fact that russian gas flows into europe have resumed in part, and there was concern that we could, from today, see the taps not turned back on at all, creating a very precarious energy situation in europe. so a little bit of positive news on the energy front. but overall as you said investors are taking it easy today and stocks are indicated lower. a lot of big headlines out of europe today, certainly as you mentioned, the gas pipeline and
dow falling into negative territory after sinking 600 points. the s&p 500 he racing it gains, the worst percentage loss since 2011, mixed profit reports and new worries about the cost of higher interest rates was there worry because rising mortgage rates putting heard on housing, home sales plunging 5.5% in september to near a 2-year low. look like santa is ready to splurge with your, consumer selling the national retail federation they plan to spend $1000 during the holiday season, a 4% increase from last year. more kids getting their mom and dad buyers remorse. more than half of parents say they let their children borrow their credit card for online purchases and nearly half of them regret doing so afterwards. i am connell mcshane.
president first took office, there was a lot of anticipation that he would get tax reform and healthcare done. a couple months into it the expectations plummeted and it s when the markets stop rallying and actually what happened was profits started coming in better than expected. you have a strong back drop because corporations are making strong profit reports and you are talking about profits up 6% in the second quarter on top of a 15% gain in profits in the first quarter. revenue. sometimes earnings you can manipulate to cut costs and you keep cutting things until earnings get better and better but you can t manipulate revenue. revenue is what the company is generating. revenue is expected to be up 6% in the second quarter. there you re seeing better than expected numbers. initially yes, it was all about the trump rally. today it s anticipation that the president will get his policies through like tax
increased. more people are out there looking for work. investors keeping an eye on quarterly reports especially for the big banks, their profit reports, jpmorgan, citigroup, and wells fargo report their earnings this week. u.s. officials are lifting the laptop ban on two more airlines. passengers on royal jordanian and kuwait airlines can now carry their laptops on board. in march, the u.s. banned electronics in cabins on flights from eight countries including jordan, kuwait, saudi arabia, and turkey. the concern was that the devices could conceal explosives. last week the ban was lifted from several other mideast airlines. officials say it s because they introduced tighter security measures. is amazon s annual day of deals, the prime day, the 30-hour shopping spree starts tonight at 9:00 p.m. amazon uses prime day to boost sales and lure customers to buy its prime membership. prime members spend more on average, about $1,100 a year, versus $600 for nonmembers. prime day arrives