Morning Movers: Shell ticks higher after denying interest in BP deal
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Chipmakers and tech continue to lead and stock futures show strength while oil has recovered mildly to about $65-$68, little changed, supported by a holding Israel‑Iran ceasefire, while gold is slightly higher amid currency moves.
In pre-market trading, S&P 500 futures rose 0.28%, Nasdaq futures rose 0.38% and Dow rose 0.22%.
Check out this morning's top movers from around Wall Street, compiled by The Fly. Also, subscribe to The Fly's pre-market Fly By if you want to know how the markets will open, which stocks will be moving and why.
HIGHER –
UP AFTER EARNINGS –
Acuity Brands (AYI) up 10%
Lindsay (LNN) up 5%
McCormick (MKC) up 4%
Walgreens Boots Alliance (WBA) up 1%
Micron (MU) up 1%
DOWN AFTER EARNINGS –
Hive Digital (HIVE) down 2%
Jefferies Financial (JEF) down 2%
LOWER –
Edgewise Therapeutics (EWTX) down 9% after FDA deemed the CANYON data alone insufficient for an accelerated approval of sevasemten
Kratos Defense (KTOS) down 7% after 12.987M share secondary offering priced at $38.50 per share
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Boston Globe
8 minutes ago
- Boston Globe
‘The city is dead': D.C. restaurant reservations drop amid federal crackdown
This August has been particularly tough on D.C. restaurants, numerous operators told The Washington Post. They were already dealing with a number of destabilizing issues — rising labor and ingredient costs, soaring rents, federal worker layoffs, U.S. Immigration and Customs Enforcement audits — when the president announced last week that he was sending in troops and federal agents to deal with a city where crime is 'totally out of control,' despite local and federal statistics showing otherwise. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'It's like drowning and then someone throws a 100 lb weight to you,' texted one D.C. restaurateur who asked that his name not be used because, he said, he was 'just focused on keeping my businesses alive (this week).' Advertisement Agents from Homeland Security and the FBI patrolled along U Street in northwest Washington, on Friday. Alex Brandon/Associated Press It's difficult to get an exact read on the state of D.C. dining since the federalization of local police. On the day of Trump's announcement, the number of online reservations in Washington dining rooms dropped by 16 percent from the same date the previous year, according to OpenTable. Since then, reservations have dipped almost every day, falling as much as 31 percent in a single day compared to the same period in 2024. But on Monday, the first day of Restaurant Week, OpenTable reservations were up 29 percent compared to the same day the previous year. Some of the decline in reservations could be attributed to timing: The first week of the takeover, Aug. 11 to 17, ended one day before Restaurant Week began. Those same dates in 2024 fell during Restaurant Week, when presumably reservations were increasing as diners scrambled to secure the discounted three-course meals. Townsend with RAMW, which organizes the biannual promotion, says that none of the 380 restaurants involved in this year's event — a record number — have reported a drop in reservations for the seven-day run. But at least two participating restaurant proprietors told The Washington Post that their numbers are well below last year's bookings. 'Reservations are low, low, low' compared to last year, said Mauricio Fraga-Rosenfeld, co-owner of El Secreto de Rosita on U Street near 16th Street NW, across the street from a police station where he said federal troops have often assembled before fanning out across the city. 'The city is dead,' Fraga-Rosenseld said. " If you walk on the street, there's no feeling. People are scared … You don't see any Latinos on the street." Advertisement Nick Pimentel, co-founder of Elle in the Mount Pleasant neighborhood, said he's seen a significant drop in walk-in traffic and reservations since January. But the bottom fell out this month. 'Compared to last year's Summer Restaurant Week reservations — and even Winter Restaurant Week in January — it's looking like we dropped more than 50 percent,' Pimentel said. Washington Metropolitan Police officers and military police soldiers with the District of Columbia National Guard, as activists protested President Trump's federal takeover of policing in D.C. on Saturday. Alex Brandon/Associated Press The numbers suggest, he added, that this will be the slowest August in Elle's seven-year history, including during the pandemic-affected summer of 2020. 'Seeing law enforcement — armored and plainclothed — in the neighborhood, casing our building and looking into our windows definitely put guests and staff on edge,' Pimentel said. Mount Pleasant and The president and White House are disputing the numbers. During a Tuesday call in to the 'Fox & Friends' morning television show, Trump said his orders have transformed Washington into 'just an incredible place in literally four days.' 'Did you see what's happening with the restaurants? They're bursting,' Trump said. 'They were all closing and going bankrupt.' On Monday, Trump disputed local and federal statistics that show crime is declining in the city, claiming in a social media post that 'D.C. gave Fake Crime numbers in order to create a false illusion of safety.' A White House spokeswoman sent a statement to The Post, along with a Fox News story indicating that 52 restaurants closed in Washington in 2023, in part due to crime. Advertisement 'Dozens of DC small businesses, restaurants, and local shops have closed their doors due to the violent crime that has plagued the city. President Trump's bold leadership will restore our nation's capital by creating opportunities for businesses to flourish without fear of criminals looting and destroying their property. President Trump is delivering on his promise to make DC safer, which will inherently make D.C, more prosperous,' spokeswoman Taylor Rogers said in a statement. Members of the National Guard were delivered lunch at an entrance to the Smithsonian Metro station in Washington, on Tuesday. TIERNEY L. CROSS/NYT Busboys and Poets, a chain of community-oriented cafes, has seen a small collective drop in August sales among the five locations in Washington while its three suburban outposts are enjoying an uptick, said founder Andy Shallal. 'The streets seem to be a little bit thinner in certain parts of town,' said Shallal. 'There's a little bit of a malaise in the city. I think people are just frustrated and just not in a good mood ." Shallal and others say federal checkpoints are scaring some people from visiting Washington, regardless of their legal status. The unexpected traffic stops may also be preventing workers — particularly back-of-the-house cooks and dishwashers who often hail from Latin American countries — from showing up to shifts. 'I think people would much rather stay where they are and not have to deal with this,' said Shallal. 'A lot of our customers are immigrants that have either newly immigrated to America or have been naturalized Americans. ... In general, they'd rather not expose people or expose themselves to those kinds of conditions or situations that may put them in harm's way ." Related : Council member Charles Allen (D-Ward 6) has spoken to nearly a dozen restaurant owners in his district, which includes Capitol Hill and the NoMa neighborhood, and said they're telling him the same thing: In the last week, they're seeing less foot traffic. Reservations are being canceled. Employees, especially back-of-house staff, are not showing up for work, leaving restaurants shorthanded for evening shifts. Some restaurant owners are hesitant to complain publicly for fear of being targeted by federal agents. Advertisement 'I haven't heard a single restaurant say 'this is great for business,'' Allen said. 'Our businesses are suffering by what they're doing here,' the council member added. 'It's an unwarranted, absolutely ridiculous, unnecessary step that federal government's doing. It sure is more than just immigration issues. This is impacting bread-and-butter local businesses.' Med Lahlou, founder of an eponymous hospitality group operating neighborhood restaurants throughout the city including Lupo Verde on 14th Street NW, said the police presence and public arrests have been demoralizing. Federal agents and local police placed a man under arrest in D.C. on Monday. ERIC LEE/NYT 'It has been heartbreaking to watch my hometown of 40 years feel like it's coming apart,' the restaurateur said. He said the takeover is 'devastating businesses to an unimaginable degree' — including the service industry. 'People are scared to go out, regardless of whether they are U.S. citizens or not. That fear alone is enough to damage restaurant week and the livelihood of countless workers,' Lahlou said. Oji Abbott had been expecting an uptick in sales at Oohh's and Aahh's, his soul food restaurant on U Street, as Howard University students returned to campus last week, preparing for the start of a new semester. But the uptick never arrived. Instead, Abbott says, he has experienced a decline — a small but noticeable one. He pinned some of the blame on the presence of federal law enforcement officers. Advertisement 'We got losses because some people are not coming out and dealing with that,' Abbott told The Post. 'They say, 'You know, I heard they were at 14th Street, they were in U Street. I'm not going.'' Abbott is fortunate compared to other businesses on the U Street corridor, he says. Oohh's and Aahh's has two other locations. If diners don't feel safe — or just don't want to deal with the hassle of navigating the neighborhood with all the extra vehicles on the streets — they can go to one of Abbott's outlets on Georgia Avenue NW or in Alexandria, Virginia. But the chef and owner also worries about the impact of 30 straight days of federal agents and officers on the streets. 'We have to operate within this 30 days, and do you have enough wherewithal to be able to have a week or month of short money coming?' Abbott says. 'Most small businesses, I'll say no. Small businesses, you don't have money to say, 'Oh, yeah, I'll just take the short money for 30 days and I'll still be able to pay the rent and my electric bill and my water bill and my gas bill.' Department of Homeland Security Investigation officers paused at the intersection of 14th and U Streets in northwest Washington, while on patrol on August 13. Pablo Martinez Monsivais/Associated Press Townsend with RAMW is more bullish on the restaurants that his group represents. They will make Restaurant Week work, regardless of how many staff no-show for a shift. Owners will roll up their sleeves and pitch in. But Townsend is also concerned about the federal takeover of Washington's streets as restaurant week revs up. 'There's a sense from the restaurant community in D.C. that folks who live in Maryland and Virginia will opt to dine in Bethesda or Tysons or Falls Church,' Townsend said, 'as opposed to trying out a new restaurant in D.C. this week.'
Business Insider
9 minutes ago
- Business Insider
The White House just joined TikTok a month before it's set to be banned (again)
A lot can change in a year — just ask TikTok. Last year, the US government took the extraordinary step of voting to ban the popular app used by millions of Americans, citing national security concerns. On Tuesday, the White House became its latest user. The White House TikTok account launched with a video montage of President Donald Trump narrated by the man himself. "Every day I wake up determined to deliver a better life for the people all across this nation," Trump says over images of him with UFC head Dana White, law enforcement officers, and American workers. "I am your voice!" The account's second post featured various shots of the White House during different seasons. The White House joined the app less than a month before it's set to be banned in the US on September 17 unless it's sold to a US buyer, though that deadline has already been extended several times. "The Trump administration is committed to communicating the historic successes President Trump has delivered to the American people with as many audiences and platforms as possible," Karoline Leavitt, White House press secretary, said in a statement to Business Insider. "President Trump's message dominated TikTok during his presidential campaign, and we're excited to build upon those successes and communicate in a way no other administration has before." The White House did not respond to questions about whether the divest-or-ban deadline would be extended again or if a deal was expected by the deadline. Lawmakers in April 2024 voted to ban TikTok unless its China-based parent company, ByteDance, sold its American assets. Some officials cited concerns that sensitive data belonging to American users could end up in the hands of the Chinese government, and members of Congress have said it could be used for Chinese Communist Party propaganda. TikTok has said it does not share data with the Chinese government. The TikTok divest-or-ban law, signed by President Joe Biden last year, gave TikTok until January 19 to sell or risk shutting down. The app briefly went dark that day for US-based users before coming back online, with TikTok crediting Trump for its return. The White House has said the president does not want TikTok to go dark and prefers it be sold. Trump has delayed the divest-or-ban deadline three times since taking office in January. Commerce Secretary Howard Lutnick told CNBC last month that TikTok will go dark again unless China agrees to a deal that will give Americans control over the app. "We've made the decision. You can't have Chinese control and have something on 100 million American phones," Lutnick said, adding that China's decision would be coming "very soon."
Yahoo
16 minutes ago
- Yahoo
Gold Holds Fall Ahead of Powell Speech That May Give Rate Clues
(Bloomberg) -- Gold held a small decline ahead of a key address by Federal Reserve Chair Jerome Powell later this week, which may give fresh clues on the central bank's monetary path. Bullion traded at around $3,315 an ounce early in Asia, holding a 0.5% decline from the previous session after the latest efforts to halt the Russia-Ukraine war impacted haven demand. Attention is turning to Powell's annual address at Jackson Hole, Wyoming, on Friday, amid strong expectations the Fed will cut borrowing costs by a quarter point next month. Lower rates are beneficial for gold as it doesn't pay interest. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome The Fed's monetary easing path has been complicated by a hotter-than-expected inflation print last week that caused some traders to dial back rate-cut expectations. Balancing that is pressure from President Donald Trump to implement hefty reductions, despite Powell's concern about his tariff agenda potentially ramping up price pressures. Gold has gained more than one quarter this year, with central bank buying, inflows to exchange-traded funds and geopolitical tensions providing support, along with concerns about the impact of tariffs on the global economy. Though it's traded in a relatively tight range for months, analysts have widely expected further gains on expectations for rate cuts and further de-dollarization. Spot gold was steady at $3,314.89 an ounce as of 8:28 a.m. Singapore time. The Bloomberg Dollar Spot Index edged up 0.1%. Silver, palladium and platinum were all flat. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Survived Bankruptcy. Next Up: Cultural Relevance? ©2025 Bloomberg L.P.
