Dow futures up 125 points, U.S. market news Aug 21

Dow futures contract was up 125 points, or 0.4%, the S&P 500 futures were up 20 points, or 0.5%, and the Nasdaq 100 futures were up 85 points, or 0.6%, by 06:00 ET (10:6:00 GMT).

1. Futures climb ahead of Jackson Hole, and Zoom will report – what’s driving markets? 
2. Futures rise as attention focuses to Powell in Jackson Hole and Nvidia results. 
3.  J&J will own 9.5% of Kenvue following the share exchange transaction.
4. Nvidia earnings will be a big litmus test for AI demand and the market rise. 
5. Goldman Sachs anticipates more stock buybacks and IPOs in the coming weeks and months. 
6. The EEX bourse must seek EU antitrust approval for the Nasdaq merger, according to the EU. 
7. The United Kingdom has approved Broadcom’s $69 billion acquisition of VMware. 
8. Malaysia may sue Goldman Sachs over the 1MDB crisis, according to Prime Minister Anwar Ibrahim. 
9. Palo Alto Networks gains 12% on strong billings outlook; analysts are bullish. 
10. At the closing of trading, US markets were neutral, with the Dow Jones Industrial Average up 0.07%. 
11. Dow futures remain stable following a dismal week. 
12. WSJ reports that Meta will introduce a web version of the Threads App early next week. 
13. The S&P 500 finishes nearly flat as energy and defense sectors offset mega cap falls. 
14. Source: Arm’s full-year revenue declined 1% ahead of its IPO. 
15. Palo Alto Networks has an enthusiastic Q1 outlook following fiscal Q4 results that exceeded expectations. 
16. Bank deposits and lending dropped in the most recent week, according to Fed data. 
17. With less capital and fewer bears, US stocks may be vulnerable. 
18. John Warnock, co-founder of Adobe, has died at the age of 82. 
19. US car parts imports are being scrutinized under Chinese forced labor legislation. 
20. Elon Musk claims that X will remove the option to block accounts.  

GLOBAL NEWS 

1. European markets rise; German inflation falls; and China lowers interest rates. 
2. Consumer inflation in Sri Lanka fell to 4.6% in July. 
3. Foreign investors are unafraid of China tensions, according to the chairman of Taiwan’s stock exchange. 
4. European stocks rise following four days of losses in energy and healthcare. 
5. European markets rise; German inflation falls; and China lowers interest rates. 
6. Crest Nicholson, a UK homebuilder, has lowered its annual profit forecast. 
7. Australia’s $1.5 trillion pension sector is investing in debt once more. 
8. The German housing construction slump worsened in July, according to Ifo. 
9. Over the next 40 years, Australia’s health-care spending is expected to skyrocket. 
10. Crest Nicholson, a UK homebuilder, has lowered its annual profit forecast. 
11. China’s loan prime rate drop disappoints, while mortgage rates remain steady. 
12. China lowers the one-year lending guideline while maintaining the five-year benchmark. 
13. Oil prices have risen following China’s rate disappointment, and tighter supplies are expected. 
14. As China disappoints, the dollar maintains its gains, and traders keep an eye on Jackson Hole, Wyoming 
15. IAG Australia misses annual cash earnings projections; shares fall 
16. Australia will purchase Tomahawk missiles from the United States in order to improve its long-range strike capability. 
17. SingTel’s first-quarter earnings falls 23% due to unfavorable currency movements and high costs. 
18. Marsh, a U.S. insurance firm, will acquire Honan in Australia. 
19. Unions have notified Woodside that they intend to strike at critical Australian gas sites. 
20. Colaninno, a well-known Italian businessman and Piaggio CEO, has died. 
21. China unveiled plans to revitalize the stock market. 

Global Economic data

• The Peoples Bank of China (PBoC) unexpectedly reduced the 1 year LPR from 3.55% to 3.45% while leaving the 5 year LPR intact at 4.2%. Given that most mortgages are strongly correlated with the 5-year loan prime rate, this suggests that interest rates will have less of an impact on the housing market.
• (Tropical Storm) The parched regions of California are receiving at least two years’ worth of rain thanks to Hilary.

Economic Calendar

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·     DA Davidson Western Bank Summit (virtual), 8/21-8/22

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