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HomeMarket Analysis Dow Futures down 45 points, U.S. market news Sep 13th

 Dow Futures down 45 points, U.S. market news Sep 13th

 Dow Futures contract was down 45 points, or 0.1%, at 06:40 ET (10:40 GMT), the S&P 500 Futures contract was down 5 points, or 0.1%, and the Nasdaq 100 Futures contract was down 30 points, or 0.2%.

Today’s main U.S. market news –

  1. What’s moving markets? The impending CPI, Apple’s new iPhone, and Arm’s IPO pricing.
  2. Dow futures are slightly lower; the US CPI report is in focus.
  3. The dollar is holding steady ahead of inflation data, while sterling is falling due to dismal GDP.
  4. The expansion of US factories strengthens MUFG’s position in project finance, according to a top executive.
  5. Musk, Zuckerberg, and Gates will attend an AI forum with US lawmakers.
  6. ABB invests $280 million to improve its European robotics hub in response to rising market demand.
  7. Apple denies the French results, claiming that the iPhone 12 complies with radiation regulations.
  8. China claims that it has not prohibited the purchase or use of foreign phone brands.
  9. While some Chinese shoppers applaud Apple’s iPhone 15, others prefer Huawei.
  10. Higher gasoline prices are expected to raise US inflation in August. 
  11. As customers become more frugal, US Christmas sales are expected to be the slowest since 2018. 
  12. Amazon intends to pay its contracted delivery partners more. 
  13. Wells Fargo CFO expects more layoffs ahead 
  14. Wall Street closes lower as Oracle falls due to a poor projection. 
  15. Apple’s strategy for environmentally friendly watches: renewable energy and fewer planes 
  16. Apple introduces the iPhone 15 Pro with a titanium case while maintaining pricing stability. 
  17. Oil prices surge on tighter supply bets; CPI and US inventories are under scrutiny. 
  18. Crude oil supplies in the United States have increased for the first time in five weeks, while fuel inventories have also increased – API 
  19. Dow futures are flat as traders prepare for CPI. 
  20. Binance; According to the United States, CEO Shroder will resign, and 100 jobs will be lost. 
  21. Markets are anticipating a U.S. inflation test, as rising oil prices add to price volatility. 
  22. If no agreement is reached, the UAW may strike specific car plants, according to sources. 
  23. Tesla leads the list of most shorted stocks for the third month in a row in August – Hazeltree 
  24. Airbus is reorganizing its fighter business, according to sources. 
  25. The US bank lobby believes regulators should re-propose sweeping capital plans. 
  26. According to the Census Bureau, the official poverty rate in the United States in 2022 was 11.5%. 
  27. UPS stock falls after executives outline the costs of a new labor contract. 
  28. U.S. markets are tumbling after Oracle disappointed; inflation data in view  
  29. 2seventy bio to lay off 40% of workers; CEO to step down  
  30. TSMC to spend up to $100 million in Arm Holdings’ IPO  
  31. Former U.S. SEC chair advocates for company China risk disclosures  
  32. US lays out how Google dominated search in much-anticipated antitrust trial  
  33. Oil prices soar on tight supplies and bullish OPEC  
  34. GoDaddy climbs as activist investor encourages board to consider alternatives including potential sale 

GLOBAL NEWS 

  1. At the finish of trading in Australia, the S&P/ASX 200 was down 0.74%. 
  2. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.23%. 
  3. The German government expects output to fall by 0.3% this year, according to Bloomberg News. 
  4. To stimulate the Thai economy, the new Thai government has reduced diesel prices and waived visas for Chinese tourists. 
  5. ABB invests $280 million to improve its European robotics hub in response to rising market demand. 
  6. European markets opened down on Wednesday as investors await the publication of August inflation data in the United States. 
  7. The dollar is holding steady ahead of inflation data, while sterling is falling due to dismal GDP. 
  8. Concerns about rate hikes weigh on European stocks ahead of the US inflation test. 
  9. The UK economy performs worse than projected in July as a result of strikes. 
  10. Russia raises its inflation prediction and expects the rouble to fall further. – Ministry of Finance 
  11. VTB of Russia will begin cross-border money transfers to India. 
  12. Asian stocks fall as US inflation threatens, and tech weakness weighs. 
  13. Asia’s foreign exchange is treading water, while the dollar is holding steady, with inflation on the horizon. 
  14. Australia’s household expenditure increased in August, according to CBA data. 
  15. According to a source, the ECB’s important 2024 prediction will show inflation beyond 3%. 
  16. BP pledges $11 billion in low-carbon investment to Germany. 
  17. Country Garden receives clearance for another onshore bond maturity extension -sources 
  18. Japan’s wholesale inflation slows in August as cost constraints relax. 
  19. Qantas of Australia has lost an appeal in a matter involving employee outsourcing. 
  20. Ford increases its investment in hybrid pickup trucks. 
  21. According to a source, the ECB’s important 2024 prediction will show inflation beyond 3%. 
  22. Chile’s Arauco pulp facility closes, resulting in the loss of approximately 160 jobs. 
  23. TSMC values Japan’s semiconductor skills when the US fumbles, according to sources. 
  24. World stocks fall as the dollar strengthens, while UK data weakens the pound. 
  25. India’s retail inflation eases in August, upside risks remain 

Global Economic data

·     Reminder that S&P, Russell and Nasdaq’s US indexes will rebalance on the close this Friday, September 15th. Changes were announced after the close for Russell 8/18 (prelim), 9/1 (final); S&P 9/1; S&P Select Sectors/Industries 9/8; and Nasdaq 9/8.

·     Euro Area industrial production decreased 1.10% in July of 2023 over the previous month. Consensus at -0.7%. Industrial production has decreased 2.20% in July of 2023 over the same month in the previous year. Energy production advanced by 1.6%, while there was a rebound in both non-durable goods (0.4% vs -1.4%) and intermediate goods output (0.2% vs -1.0%).

·     Japan Producer prices rose by 3.2% year-on-year in August 2023, slowing from a downwardly revised 3.4% gain in July and posting the lowest reading since March 2021, marking the eighth consecutive month of a slowdown.

·     Japan retail sales growth of 6.8%, tops forecast, Japan core inflation slows in July as expected, headline inflation unchanged at 3.3%, Japan’s Q2 GDP growth exceeds forecasts as exports rebound, Japan producer prices rise 3.6%, the least in over two years. Japan services PMI revised slightly lower at 53.8 in July.

Economic Calendar

Wednesday sep 13th  

  •  7:00 AM ET                  MBA Mortgage Applications Data 

    • 8:30 AM ET                  Consumer Price Index (CPI) Headline M/M for August
    • 8:30 AM ET                  Consumer Price Index (CPI) Headline Y/Y for August
    • 8:30 AM ET                  CPI Core – Ex: Food & Energy M/M for August
    • 8:30 AM ET                  CPI Core – Ex: Food & Energy Y/Y for August
    • 10:30 AM ET                Weekly DOE Inventory Data
    • 11:00 AM ET                Cleveland Fed CPI for August
    • 1:00 PM ET                   US Treasury to sell $23B in 30-year notes.
    • 2:00 PM ET                   Federal Budget for August

Other Important Events

.  Benchmark Technology, Media & Telecom 1:1 Conference, 9/13-9/14, in NY 

·     Deutsche Bank Healthcare Growth & Innovation Conference, 9/13-9/14, in New York 

·     Goldman Sachs Annual Global Retailing Conference, 9/12-9/13, in New York 

·     Goldman Sachs China+ Conference 2023, 9/12-9/13, in Hong Kong 

·     HC Wainright Annual Global Investment Conference, 9/11-9/13, in New York 

·     RBC Capital Global Industrials Conference, 9/12-9/13, in Las Vegas 

·     Roth MKM 10th Annual Solar & Storage Symposium at SPI, 9/12-9/13, in Las Vegas 

·     Salesforce Dreamforce 2023 in San Francisco, 9/12-9/14 

Must read a book about investing – check here

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