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Stocks Rise; Yellow Trucking Files Bankruptcy and Will Close; Oil Prices Surge; Aramco Sees Demand Steady - 5 Things to Know

Five things you need to know before the market opens on Monday, Aug. 7.

1. Yellow Files for Bankruptcy and Will Shut Down

Yellow, the Nashville trucking firm that grew through mergers and ran into trouble with the debt it took on, on Sunday evening filed for bankruptcy and plans to liquidate its operations. The closure of the less-than-truckload company puts 30,000 people out of work, including 22,000 members of the Teamsters union. After nearly 100 years in business, the company had ceased operating on July 30; Yellow filed in U.S. Bankruptcy Court for the District of Delaware. Yellow said it was “committed to helping its employees find new work. Yellow has partnered with the American Trucking Associations to launch its first searchable job database, specifically for Yellow employees.”

2. U.S. Stock Futures Rise; Key Data Points Awaited

Stock futures advanced, indicating a positive open for equities after a sour week on Wall Street with all three major indexes having fallen. The summer strength in stocks had hit a wall after Fitch downgraded the U.S. credit rating . And investors are still unsure whether the Federal Reserve's interest-rate increases will tame inflation. Which brings us to: On Thursday, investors will be looking at the consumer price index, followed on Friday by the producer price index.

3. Oil Prices Surge; Aramco Profit Drops

Oil prices reached the highest since mid-April, after an attack on a Russian oil export hub and extended production cuts by Saudi Arabia and Russia, CNBC reported. Saudi state oil producer Aramco on Monday reported second-quarter profit dropped 38%, citing lower prices and thinner profit margins, according to Reuters, CNBC and other outlets. Aramco earned just over $30 billion in the quarter. Despite the economic headwinds, we see signals that global demand remains resilient, supported by an ongoing recovery in the aviation sector,” Aramco CEO Amin Nasser told the media during a company earnings call on Monday, CNBC reported.

4. 'Barbie' at a Billion: Can't Afford Her Own Home

In just a few weeks, Warner Bros.' "Barbie" has earned more than $1 billion at the box office globally, according to official estimates. The live-action Barbie movie directed by Greta Gerwig is based on the iconic Mattel doll. Barbie's home, the Dreamhouse, plays a central part in the movie. But in reality, homes are less affordable than ever in the U.S. -- real estate and house hunting can be a nightmare for the average American worker. So TheStreet video team did the math to explore which of Barbie’s dozens of careers over the years would allow her to afford living in the luxurious Barbie Dreamhouse.

5. Morningstar: 8 Stocks for Long-Term Investors

Health-care stocks have lagged the overall stock market so far this year, with the Health Care index sliding 2.78%, compared with a 17% jump for the overall S&P 500. “This is good news for investors looking for long-term opportunities in the health-care sector, as many high-quality health-care stocks are still trading at undervalued prices,” according to a Morningstar commentary. The research firm put together a list of the eight most undervalued health-care stocks among companies that earn its wide- moat rating, which means they have long-term competitive advantages. Here’s the list.

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