8/3/22

A stunning admission from credit agency Equifax. And Ford sales are skyrocketing. After two negative days on Wall Street, a strong return to the rally we’ve been seeing over the last few weeks.

The Dow gained 416 or 1.3%, to close at 32,812.
The S&P jumped 63 points
The Nasdaq gained 319, or 2.5%.

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After cutting 9%of its workforce a few months ago, Robinhood is cutting another 23%. Robinhood’s second quarter saw a 44% drop in revenue. Now we hear the state of New York hit the company with a $30 million fine.

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Shares of Equifax fell 5% today after the company said it sent lenders wrong credit scores for millions of consumers. For 300,000 people, their credit scores were off by at least 25 points. That means some people may have been wrongly denied credit or loans based on an incorrect credit score.

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Ford is selling a lot of trucks. Like a lot. The carmaker saw a 36% increase in auto sales from a year ago in July. The auto industry as a *whole was down 10%. Ford sold 63,000 F-Series pickups last month, the first time over 60,000 this year. Ford stock was up 3% today.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.