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EWU

The U.K. Composite Purchasing Managers' Index (PMI) has dropped to 47.9, lower than the estimated 50.3 and the previous figure of 50.8. This indicates a contraction in the U.K. economy.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:39 am

ADI

NVDA

TOL

URBN

WSM

Analog Devices, Urban Outfitters, Williams-Sonoma, Toll Brothers, and NVIDIA are expected to be in focus for investors on Wednesday. Analog Devices is expected to post quarterly earnings of $2.52 per share on revenue of $3.10 billion. Urban Outfitters reported better-than-expected Q2 earnings and a decrease in total inventory. Williams-Sonoma is expected to have earned $2.71 per share on revenue of $1.96 billion. Toll Brothers reported upbeat Q3 results and expects to deliver more units in Q4. NVIDIA is expected to report quarterly earnings of $2.09 per share on revenue of $11.22 billion.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 8:16 am

DOGEUSD

Elon Musk, owner of X (formerly Twitter), has endorsed Dogecoin (CRYPTO: DOGE) again, causing a 1.68% surge in DOGE's value. Musk aims to transform X into a multifaceted service, integrating social media, messaging, and financial transactions. His tweet featuring a logo created by DogeDesigner for the 'everything app' further fueled excitement around the transformation.

Portfolio Pulse from Mehab Qureshi

August 23, 2023 | 8:11 am

VGK

The preliminary Eurozone Services Purchasing Managers Index (PMI) for August is reported at 48.3, lower than the estimated 50.5 and the prior value of 50.9.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:03 am

VGK

The Eurozone S&P Global Composite Purchasing Managers Index (PMI) for August is reported at 47, lower than the estimated 48.5 and the prior 48.6.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:03 am

VGK

The preliminary Eurozone Manufacturing Purchasing Managers Index (PMI) for August is reported at 43.7, which is higher than the estimated 42.6 and the prior value of 42.7.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:02 am

SPY

Economist Mohamed El-Erian has outlined three potential approaches that Federal Reserve Chair Jerome Powell could take at the upcoming Jackson Hole Symposium. These include signaling imminent monetary policy steps, discussing long-term monetary policy issues, or focusing on a specific economic question with no immediate policy implications. The stock market, which has seen its momentum stall, could be reignited by news from the symposium. The SPDR S&P 500 ETF Trust (NYSE:SPY) is down over 4% in August, but up over 15% for the year.

Portfolio Pulse from Shanthi Rexaline

August 23, 2023 | 7:55 am

AAPL

GS

QQQ

Apple Inc. launched the Apple Card, a credit card issued by Goldman Sachs, four years ago. The card, linked to Apple Pay, offers features like no fees, lower interest rates, and cash back on purchases. It contributes to Apple's Services business, a key revenue generator. However, Goldman Sachs' 'Platform Solutions', including Apple Card, saw a net loss of $667 million in the recent quarter. If an investor had put in $1,000 in Apple on the day the Apple Card was launched, the investment would have fetched a return of roughly 247% over a four-year period.

Portfolio Pulse from Shanthi Rexaline

August 23, 2023 | 7:33 am

EWG

VGK

The preliminary Germany Services Purchasing Managers Index (PMI) for August is reported at 47.3, which is lower than the estimated 51.5 and the prior value of 52.3.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:31 am

EWG

VGK

The preliminary Germany Manufacturing Purchasing Managers Index (PMI) for August is reported at 39.1, slightly higher than the estimated 38.7 and the prior 38.8.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:30 am