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HomeMarket AnalysisDow future down 65 points, U.S. market news July 03

Dow future down 65 points, U.S. market news July 03

The Dow Futures contract was down 65 points, or 0.19%, while the S&P 500 Futures were down 3 points, or 0.07%, and the Nasdaq 100 Futures were up 07 points, or 0.05%.

Today’s main U.S. market news-

  1. What’s influencing markets? Deliveries of Teslas and production goals for Vision Pro.
  2. As Tesla rallies, Nasdaq futures increase before the holiday.
  3. Following a positive Q2 deliveries report, Tesla shares increase by 6%.
  4. Wall Street gains ground; Apple reaches $3 trillion and Nasdaq reaches a 40-year milestone.
  5. Dow futures decline a little more before the holiday
  6. DBS expects the Amazon retail business to be a major share price driver.
  7. BofA predicts that Netflix and Disney will fare better in Q3
  8. American markets closed the day higher, with the Dow Jones Industrial Average rising 0.84%.
  9. On July 1, U.S. property catastrophe reinsurance prices will increase by up to 50%.
  10. Tesla surpasses second-quarter delivery projections as price cuts are successful.
  11. This week, Treasury Secretary Yellen will travel to China to boost communications.
  12. Australian business sues Twitter for unpaid payments in the amount of $665,000
  13. As Apple drives the tech meltdown, the S&P 500 anticipates its largest first-half gain since 2021.
  14. Wall Street rallies; Apple scales $3 trillion and Nasdaq reaches 40 years
  15. Before additional China clues, copper is flat and gold holds steady above $1,900.
  16. Treasury Secretary Yellen will travel to China this week to improve relations
  17. Tesla surpasses second-quarter delivery projections as price cuts are successful.
  18. Hotel workers in the Los Angeles area go on strike over pay and housing
  19. Travel for the US Fourth of July holiday weekend is threatened by further flight cancellations.
  20. US chicken producers are required to respond to price-fixing allegations.
  21. WSJ: Goldman Sachs may end its relationship with Apple

GLOBAL NEWS 

  1. World stocks advance, as the Nikkei ends at a 33-year high.
  2. After the IMF agreement, Pakistani stocks register their largest single-day increase in 15 years.
  3. Germany wants to borrow $18.1 billion more for 2024, according to sources
  4. Oil prices rise as Russia and Saudi Arabia reduce their August exports.
  5. Mastodon, a German alternative, benefits from Twitter’s recent restrictions.
  6. UK inflation predictions jump to 5% over the coming year: Citi/YouGov 
  7. POSCO of South Korea intends to invest $93 billion by 2030
  8. United Malt of Australia accepts France’s InVivo’s $1 billion purchase bid.
  9. European shares increase thanks to Generali and miners
  10. S&P/ASX 200 was up 0.59% at the close of trading, lifting Australian stocks.
  11. At market closing, Japanese stocks were higher, with the Nikkei 225 up 1.70%.
  12. European markets climb slightly; manufacturing PMIs are the main topic
  13. Australia’s United Malt accepts France’s InVivo’s $1 billion buyout bid.
  14. Chinese EV stocks rise as deliveries in June increase.
  15. Hong Kong retail sales increased 18.4% in May, helped by domestic demand.
  16. Top Japanese lenders are redoubling their efforts to land US investment banking agreements.
  17. Japan’s tax revenue sets a record; surplus will help pay for the country’s defence plan
  18. Despite decreased prices, the UK factory downturn grew in June: PMI
  19. In response to criticism, UBS wants to avoid utilising the $10 billion Credit Suisse backstop.
  20. As ECB rate increases take effect, the euro zone’s manufacturing slump grew worse in June, according to PMI
  21. Asian equities rise as U.S. inflation misses leaves the Nikkei at 33-year highs.
  22. Asia’s manufacturing production declines due to weak China demand
  23.  Sensex surpasses 65,000 and Nifty rises to new all-time highs.
  24. Yen hesitant, dollar weak as traders consider the timing of the Fed rate hike
  25. Israel equities were up at the closing of trading; the TA 35 was up 0.81%.
  26. Nikkei leads Asia higher while China lags behind
  27. The trade minister for Australia anticipates other announcements on expanding commerce with China soon.
  28. Chinese industrial activity expanded more slowly in June according to the Caixin PMI.
  29. Australia’s United Malt accepts France’s InVivo’s $1 billion buyout bid.

Economic Data

  • Personal income increased by +0.4% in May, above expectations by +0.3% and up +0.3% from April (previously +0.4%); the personal saving rate was +4.6% in May. Personal spending increased by 0.1% versus the consensus’ increase of 0.2%.
  • The PCE price index M/M for May increased by +0.1% from April’s (+0.4%) and prior (+0.4%) levels, while the core PCE price index increased by +0.3% from April’s (+0.3%) levels.
  • The PCE price index Y/Y increased in May by a less dramatic +3.8% compared to April’s +4.3% (and preceding +4.4%) increase, while core PCE increased by +4.6% versus April’s +4.7% (and prior +4.7%) increase.
  • Consumer sentiment surveys from the University of Michigan show that consumer sentiment in June was 64.4, compared to expectations of 63.9, preliminary June 63.9, and final May 59.2, present conditions were 69.0, up from 68.0, and expectations were 61.5, compared to 61.3 in June.
  • final results of the University of Michigan consumer polls on inflation for the next year Preliminary 3.3% compared. final 3.3% in June May 4.2%. Consumer surveys from the University of Michigan’s final 5-year inflation outlook June 3.0% versus preliminary 3.0% and final May 3.1%
  • Actual Chicago PMI for June was 41.5, down from 40.4 the month prior and under the estimate of 43.8.

Global Economic data

  •  China’s June Caixin Manufacturing PMI is 50.5 versus expectations of 50.2 versus 50.9.
  • May job vacancies:- Despite declining in June compared to May, job openings are still 47.5% higher than they were before the pandemic, indicating that the labor market remains tight. 10% less year over year
  • Building permits in Australia increased by 20.6% month over month in May, primarily as a result of multi-unit approvals (apartments), which were predicted to increase by 2.0%.
  • Melbourne Institute for TD The inflation gauge reads +0.1% m/m.:- May had a prior of +0.9% m/m, which was the biggest m/m increase since January 2023.
  • Manufacturing PMI for June according to Japan Jibun was 49.8 (vs. preliminary 49.8 and previous 50.6).
  • Australia’s final Manufacturing PMI for June was 48.2 (formerly 48.6).

Economic Calendar

  •       9:45 AM ET                  S&P Global Manufacturing PMI, June-F
  •     10:00 AM ET                Construction Spending M/M for May
  •     10:00 AM ET                ISM Manufacturing Index for June
  •     US Markets Closed at 1:00 PM
  •     China Caixin Services PMI overnight

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