Unpacking SQ's Billion-Dollar Acquisition

The blue-chip index is up 124 points at midday

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Schaeffer's Midday Market Check
8/02/2021
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Dow Kicks Off August with Fresh Intraday High


By: Laura McCandless

Stocks are higher at midday, kicking off August on a strong note after all three major indexes notched July wins. The Dow Jones Industrial Average (DJI) is up 124 points this afternoon, and earlier in the session nabbed an intraday high. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also firmly in the black, as the former stands within reach of fresh all-time highs as well.

Elsewhere, the IHS Markit manufacturing purchasing manager’s index (PMI) came in at 63.4 for July, which is above June's results. However, a similar reading from the Institute for Supply Management (ISM) showed a small dip. Investors are also keeping a close eye on the progressing infrastructure bill in the Senate. 

Continue reading for more on today's market, including: 

  • Billion-dollar acquisition boosts digital payment name. 
  • Checking in with Robinhood stock after its market debut.
  • Plus, call traders target UAA; engineering stock surges ahead of quarterly report; and TGTX plummets on earnings miss.
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