Stocks are falling, but Pelosi and China, Pinterest, Estee Lauder, and Tom Ford are all down. Here are five things to know about them

Stocks are falling, but Pelosi and China, Pinterest, Estee Lauder, and Tom Ford are all down. Here a ...

Five things you must know about Tuesday, August 2:

Stock Futures Fall as Taiwan Tensions Remain Linked to Geopolitical Concerns.

Stock index futures in the United States fell on Tuesday as investors sought to reduce risk ahead of House Speaker Nanci Pelosis' coming to Taiwan, the first visit by a senior US government official in over 25 years, stoking fears about increased tensions between the United States and China.

Futures tied to the Dow Jones Industrial Average fell by 0.28% or 93 points, while S&P 500 futures and Nasdaq 100 futures fell by0.38% and 0.39%, respectively. Government debt rates in the United States traded higher Tuesday morning as investors prepared for Friday's employment report.

The yield on the benchmark 10-year Treasury note fell to 2.554%, and the yield on the 30-year Treasury bond fell to 2.891%. Yields are related in opposite directions to prices.

After-hours moves occurred as markets fell for the first regular trading day of August, as all major averages finished their best month since 2020. The S&P 500 lost 0.28% to close at 4,118.63, while the Nasdaq Composite fell 0.18% to close at 12,368.98. The Dow Jones Industrial Average lost 46.73 points, or 0.14%, to close at 32,798.40.

Pelosi is scheduled to arrive in Taiwan on Tuesday evening, local time, and meet with Taiwanese government officials, in what would be the first visit by a House speaker to the democratically governed island since 1997.

Beijing, which claims Taiwan as its territory, has warned Pelosi and the US administration not to visit. Chinese officials have threatened unspecified military countermeasures should her visit proceed.

Taiwan is a democratic self-ruled island that China perceives as a ranaway province, and Beijing has been vocal about its opposition to Pelosis's visit.

According to Chen Zhao, senior strategist at Alpine Macro, Beijing's actions might impose additional sanctions on China, increasing the risk of a direct military conflict between the United States and China.

European markets reacted negatively on Tuesday, following risk-off sentiment around the world as investors assess whether the surge from last month has continued, and as Pelosis' visit to Taiwan approaches.

The pan-European Stoxx 600 fell 0.6 percent by mid-morning in London, with IT firms shed 2.2 percent to lead losses as most industries and major bourses fell. Telecoms gained 0.6 percent.

Pinterest's stock has risen due to strong user growth.

Get Pinterest Inc. Class A Reportshares jumped on better-than-expected user numbers, even as earnings and revenue fell short of expectations and the company gave poor guidance for the third quarter.

After the online visual inspiration board company reported disappointing second-quarter results, Pinterest stock plummeted more than 18% at $23.68 in premarket trading. Both the decline in advertising revenue and increased costs, according to the company.

Todd Morgenfeld, the company's finance chief, saw signs of weakness in the consumer packaged goods category, big-box stores, and mid-market advertisers, adding that the digital advertising environment will continue to be challenging.

The firm said it expects a mid-single-digit year-over-year percentage increase in the current quarter, compared to analysts' projections of a sales increase of 12.7%, weighed down by a stronger currency.

Elliott Management, an activist investor, has confirmed that it is Pinterest's top investor and that it believes in the value-creation opportunity at the company.

TheStreet Recommends These Items

Tesla's Chinese competitors have some bad news.

Wendy's Has a New Weapon In The Fast Food Breakfast Wars

The Real Drama at HBO Max and Discovery is Waiting for the Next Cuts

Elliott did not reveal its position in Pinterest. However, the Wall Street Journal reported in July that the investment company had amassed a more than 9% share.

Estee Lauder is in discussions to purchase Tom Ford, according to a report.

Estee Lauder (EL) - Get Estee Lauder Companies Inc. (The) Reportis in discussions to buy luxury fashion brand Tom Ford in what could be a $3 billion or more agreement representing the cosmetics giants largest-ever acquisition, the Wall Street Journal reported on Tuesday.

Estee Lauder, based in New York, sells skin care products, cosmetics, and perfume. Its brands include MAC, Clinique, La Mer, and Aveda. It has the ability to make such a deal.

There are no guarantees that the two sides will reach an agreement. Estee Lauder isnt the only one of the people who wants Tom Ford, according to one of the people who reported in early July that Tom Ford was for sale.

Tom Ford, a privately held company, is well-known for its men's apparel, but it also sells women's apparel, as well as a rapid-growing high-end product line of cosmetics and fragrances, according to sources. The company is particularly interested in the beauty industry, with which it already has a longstanding licensing arrangement, and may license the clothing lines elsewhere.

In premarket trading, Estee Lauder stock fell by 0.32% to $272.65.

4.BP Profit Increases Due to High Energy Prices

BP p.l.c. The British oil behemoth reported on Tuesday increased its dividend and increased stock buybacks following a three-quarter increase in second-quarter earnings due to solid refining margins and trading.

The British energy company reported a $8.5 billion underlying replacement cost profit as a substitute for net profit in the second quarter.

According to Refinitiv, BP should report a profit of $6.3 billion in the first three months of the year and $2.8 billion for the second quarter of 2021.

BP has announced a 10% increase in its quarterly dividend to shareholders, increasing it to 6.006 cents per ordinary share.

The stock price of BP rose 4% in London, approaching the top of the pan-European Stoxx 600. The stock price has increased by more than 23% year over year.

The SEC has filed charges in a $300 million cryptocurrency pyramid scheme.

Eleven individuals have been charged with constructing and promoting a cryptocurrency-based pyramid scheme that, according to authorities, attracted more than $300 million from retail investors around the world.

In a statement released on August 1, the SEC claimed that it charged the four entrepreneurs of Forsage and three individuals who worked on the pyramid scheme on its website and social media.

In the complaint, which was filed in U.S. District Court for the Northern District of Illinois, were several members of the Crypto Crusaders, which the agency describes as "the largest promotional group for the scheme."

According to the SEC's complaint, Vladimir Okhotnikov is the founder, while Jane Doe a/k/a Lola Ferrari is from Bali, Indonesia, and Mikhail Sergeev and Sergey Maslakov are the founders.

According to the SEC, was a web application through which millions of retail investors could enter transactions via smart contracts that operated on the ethereum, tron, and Binance blockchains.

Bitcoin was down 2.2 percent on Tuesday, continuing its declines from Monday, amid continued concerns over geopolitical and otherlower-than-average volume. The cryptocurrency has dropped 51 percent year to date.

The coins' dominance, a measure that measures the market cap of Bitcoin relative to the rest of the cryptocurrency market, is 42%, compared to 44.8 percent on January 1 and 41.8 percent on April 1.

You may also like: