Global markets largely flat, U.S. market news July 4th

Today’s main U.S. market news-

1. What’s influencing markets: Meta to launch Twitter rival, global stocks largely unchanged
2. crude oil prices rise; US vacation restricts trade ranges
3. China deliveries of Tesla and BYD reached a new high in Q2
4. Oil rises as the market balances supply reductions with the bleak economic outlook
5. Wall Street concludes its brief session marginally higher, while Tesla surges
6. Despite public holidays, the Dow futures remain stable while Tesla increases
7. Oil surges amid supply constraints and economic uncertainty.
8. Twitter-like app from Meta Threads
9. Factory gate price pressures are moderate as the US manufacturing crisis worsens
10. According to Twitter, users must be verified in order to use TweetDeck.
11. US FTC dismisses Altria’s case after Marlboro manufacturer sells Juul Labs stake
12. In Germany, Amazon launches the first Rivian vehicles in Europe.
13. Hotel workers in the Los Angeles area go on strike over pay and housing
14. Tesla intensifies raging rally on record quarterly deliveries
15. Treasury rates and stocks move higher during a holiday-shortened day.
16. For $362 million, Monster Beverage buys rival Bang Energy out of bankruptcy.

GLOBAL NEWS 

1. S&P/ASX 200 was up 0.45% at market close, with Australian stocks up.
2. India’s markets were up at the close of trading, with the Nifty 50 up 0.34%.
3. Japanese stocks fell at the closing of trading; the Nikkei 225 fell by 0.98%.
4. Ryanair reports record June figures, as European markets are essentially unchanged.
5. At market closing, German stocks were neutral as the DAX fell by 0.41%.
6. French stocks fell at the closing of trading; the CAC 40 fell by 0.18%.
7. Israel equities fell at the closing of trading; the TA 35 fell by 0.28%.
8. European markets end lower as mining gains exceed healthcare dips.
9. At market close, stocks in Denmark fell; the OMX Copenhagen 20 was down 0.76%.
10. European stock futures neutral; U.S. holiday to hinder activity
11. Yen firms amid talk of an intervention, with muted trading on the US holiday
12. Italy’s finances sputter as the budget deficit rises in Q1
13. Australian pension fund’s $77 billion suspension of PwC employment
14. Beijing pokes US-China tech rivalry with export restrictions on chip materials
15. In June, Ryanair’s monthly traffic reaches a record high.
16. Pfizer and Samsung Biologics announce $920 million in manufacturing deals.
17. Asia FX rises before Fed hints, Aussie falls after RBA
18. Asian markets suffer due to economic uncertainty, as the Nikkei falls.
19. Following China’s restrictions on chip exports, US company AXT is requesting permission.
20. Top Japanese lenders are redoubling their efforts to land US investment banking agreements.
21. China will limit the export of chipmaking ingredients as the US considers further restrictions
22. Consumer inflation in South Korea drops to a 21-month low.
23. Gold rises above the $1,900 level and more Fed indications are anticipated.
24. Australian central bank holds rates, stocks rise.
25. Australia’s central bank holds rates, suggesting additional hikes.
26. Top Japanese lenders are redoubling their efforts to land US investment banking agreements.
27. Australia’s Suncorp predicts increased natural hazard costs in FY24 due to La Nia.
28. New Zealand’s second quarter business confidence improved but remained pessimistic, according to a think tank

Economic Data

• S&P Global’s June manufacturing PMI was 46.3 instead of 46.3 in flash.
• The ISM U.S. manufacturing activity index declines to 46.0 in June from 46.9 in May (below the expected 47.0), while prices paid index falls to 41.8 from 44.2 in June, new orders index rises to 45.6 from 42.6 in May, and employment index falls to 48.1 from 51.4 in May.
• Construction spending increased by +0.9% in May, beyond consensus +0.6%, reaching $1.926 trillion, compared to +0.4% in April (previous +1.2%) and +1.1% in May for private and +0.1% for public projects, respectively.
•  @bespokeinvest noted: ISM Manufacturing has remained below 50 for the past eight months, according to @bespokeinvest. longest streak since the beginning of 2009. For seven of the previous nine months, Prices Paid have fallen below 50 (indicating price reductions).

Economic Calendar

•   US Markets Closed in Observance of Independence Day

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