The Dow futures contract was up 115 points, or 0.3%, the S&P 500 futures were up 20 points, or 0.4%, and the Nasdaq 100 futures were up 85 points, or 0.6%, by 06:50 ET (10:50 GMT).
Today’s main U.S. market news-
- Dow futures rise ahead of a crucial inflation report.
- What’s affecting markets? Important inflation data, Nike profits, and U.K. housing woe
- Following Citi’s new Street-high target, Apple is poised to make an unprecedented push above $3 trillion.
- WSJ: Bausch + Lomb will pay $1.75 billion to purchase a dry-eye medication from Novartis.
- Strong inflows continue to come into large cap stocks.
- Apple, Carnival, and Nike post premarket losses while Constellation Brands and
- Ford signs preliminary agreement to sell German facility to investor
- Oil is expected to drop for a fourth consecutive quarter.
- U.S. stocks were divided at the market’s closing, with the Dow Jones Industrial Average up 0.80%.
- US legislator calls for labelling and limitations on AI material
- the greatest decline in 20 months in US weekly jobless claims as the economy remains resilient.
- the greatest decline in 20 months in US weekly jobless claims as the economy remains resilient
- The decline in North America is highlighted by Nike’s ominous projection.
- Overstock, an online retailer, is becoming Bed Bath & Beyond.
- Google will stop serving Canadian news due to the law on paying publishers
- Canada claims that the Activision acquisition by Microsoft is likely to reduce competition.
- The Czech Republic receives F-35 approval from the US State Department.
- The sale of SVB Financial’s investment banking division is almost approved.
- Three are accused of insider trading before the proposed merger of Trump Media.
- 6.71% is the new high for the US 30-year mortgage rate, ending a three-week decline.
GLOBAL NEWS
- The CAC and DAX each gained 0.5 percent as the European market traded higher.
- Japan’s markets are lower at the close of business, with the Nikkei 225 down 0.14%.
- Bulls and FIIs propel Indian markets to fresh highs, with the Nifty topping 19,100.
- European markets rise in anticipation for a China stimulus; inflation statistics are the main topic.
- Inflation in the eurozone fell further in June as energy prices fell.
- Asian stocks under pressure due of dismal Chinese data and Fed ambiguity
- Nikkei, Taiwan, and Asian markets trade mixed; Shanghai, Kospi gain
- As demand diminishes, China’s industry activity continues to decline.
- UK economy has a sluggish 2023 beginning as inflation weighs
- German retail sales increased in May, but economists say this is temporary.
- Political risk worries cause the rouble to fall to a more than 15-month low versus the dollar.
- On Friday, the Bombay Stock Exchange (BSE) reached a fresh record high of Rs 295.72 lakh crore.
- RBA to increase rates to 4.35% on July 4; decision is precarious, according to Reuters poll.
- Australia and the EU’s trade ministers discussed a potential free trade agreement. – origin.
- Under pressure from the US, the Dutch propose new export regulations for semiconductor equipment.
- Thailand’s economy expands in May thanks to tourism and consumer spending rise.
- As traders wait for important US inflation data, gold fails to gain momentum.
- Brent oil is expected to record its first monthly gain of the year due to supply concerns.
- After dismal Chinese PMIs, oil prices dipped, but Brent is expected to rise in June.
- Inflation in the Tokyo CPI climbs less than anticipated in June and is still sticky.
- A $3 billion staff-level agreement between Pakistan and the IMF
- Yuan declines following China PMI report as yen slips past crucial level of 145 to the dollar.
- UK mortgage rates have increased once more, hurting homeowners and potential purchasers.
- Chinese manufacturing PMI declined in June for the third consecutive month.
- Strong economic growth in South Korea in May paints a more optimistic third
- Thai factory output decreased by 3.14% y/y in May, less than anticipated.
- The finance minister of Japan issues a warning against a currency depreciation that is extreme.
- Tokyo inflation indicates growing pricing pressure and challenges the dovish attitude of the BOJ
Economic Data
- U.S. Q1 GDP increases by a bigger +2.0% compared to the earlier estimate of 1.4% consensus and 2.6% in Q4 2022, and Q1 Personal Consumption increases by a greater +4.2% compared to the prior estimate of 3.8% and 3.8%.
- The PCE price index for the first quarter was +4.1% compared to +4.2% consensus and the earlier estimate of +4.2%, while the Core PCE price index was +4.9% compared to +5.0% predicted and +5.0% previous estimate.
- Weekly jobless claims decreased to 239K in the most recent week, below the consensus of 265K, while the 4-week moving average increased to 257,500 from 256,000 the week before. Continuance claims also decreased, from 1.742M to 1.761M, while the US insured unemployment rate remained at 1.2%.
- Pending Home Sales fell (-2.7%) M/M in May to 76.5, down from (-0.6%) consensus and 0.0% in April. Y/Y, pending sales decreased (-22.2%).
Global Economic data
- China’s factory activity in June; According to data from the National Bureau of Statistics issued on Friday, China’s factory activity decreased in June for a third consecutive month. The official manufacturing purchasing managers’ index (PMI) came in at 49.0 in June, up from 48.8 in May and 49.2 in April.
Economic Calendar
- 8:30 AM ET Personal Income M/M for May
- 8:30 AM ET Personal Spending M/M for May
- 8:30 AM ET PCE Price Index M/M for May
- 8:30 AM ET PCE Price Index Y/Y for May
- 8:30 AM ET Core PCE Price Index M/M for May
- 8:30 AM ET Core PCE Price Index Y/Y for May
- 9:45 AM ET Chicago PMI for June
- 10:00 AM ET University of Michigan Confidence, Jun-F
- 10:00 AM Et University of Michigan a 1 and 5-year inflation expectations
- 1:00 PM ET Baker Hughes Weekly rig count data
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