US pre-market update: Why is Nu share price on a rally? Walmart earnings in focus

Last updated:
Nu share price

How will markets open today?

  • Stock futures indicate a flat to negative opening for stock market.
  • Buffett’s Berkshire boosted its stake in Apple, Activision Blizzard, Ally Financial, Paramount, Celanese. It exited its position in Verizon.
  • Home Depot and Walmart to report quarterly results on Tuesday.
  • This week, investors will also be watching for the minutes from the Fed’s July meeting.

Why is Nu Holdings stock on a rise?

  • Buffett backed Nu stock jumped 10% on strong quarterly results and after Softbank purchased Nu stocks valued at nearly $82.3 million.
  • Revenue rose 230% on-year to $1.2 billion on expanding its portfolio of financial products.
  • Gross Profit up 109% on-year to $363 million and net income came in at $17 million.
  • Nu added 5.7 million customers in the quarter, up 57% on-year, taking the total count to 65.3 million.
  • Nu has disrupted Brazilian & Latin American banking markets through sleek digital experience and low-fee products and services.
  • Why is Nu share price on a rally?

  • What are key earnings for today?

  • Which stocks did Berkshire buy recently?