Dow futures down 80 points, U.S. market news July 17th

Dow futures contract was down 80 points, or 0.2%, by 06:45 ET (10:45 GMT), while the S&P 500 futures were down 6 points, or 0.1%, and the Nasdaq 100 futures were down 7 points, or 0.1%.

Today’s main U.S. market news-

1. What’s moving markets are anticipated U.S. business results and a disappointing Chinese GDP.
2. Lower Dow futures; beginning of the quarter’s earnings
3. Oil declines by almost 1% as Chinese GDP denies demand expectations
4. After China data, global stocks and the currency decline; speculators bet on a Fed policy change.
5. China’s GDP outlook was reduced by Wall Street banks following a lackluster second quarter.
6. Morgan Stanley lowers its growth projections for China in 2023 and 2024.
7. Evercore ISI is cautious going into the Q2 EPS release on Netflix shares.
8. Morgan Stanley cuts its rating on PepsiCo following a complete valuation.
9. Analysis: As inflation defies projections, the Bank of Canada sharpens its messaging
10. According to Morgan Stanley, Apple’s India business might be worth $40 billion in the next ten years.
11. Tesla discounts are expected to boost quarterly revenue and profit.
12. Futures weak but investors await higher earnings
13. As ad income declines by 50%, Elon Musk claims that Twitter’s cash flow is still negative.
14. After the next Q2 earnings report, according to Barclays, Tesla stock could decline.
15. Pilots of United Airlines secure labor agreement, see salary increase
16. Dow futures decline as earnings begin
17. A new methane agreement might determine China and US climate progress.
18. Yellen: US and India are collaborating on a platform to hasten India’s energy transition.

GLOBAL NEWS 

1. India’s markets were up at the close of trading, with the Nifty 50 up 0.75%.
2. S&P/ASX 200 is down 0.06 percent as of the close of trading in Australian markets.
3. European markets decline following disappointing Chinese growth statistics; earnings will increase
4. German economy could underperform if sentiment deteriorates Federal Reserve
5. Morgan Stanley lowers its growth projections for China in 2023 and 2024.
6. Inflation in Nigeria increased marginally in June, reaching 22.79% year over year.
7. Dollar recovers from previous week’s selloff; poor GDP hurts the Chinese yuan
8. UK CFOs becoming cautious as borrowing prices rise and inflation bites: Deloitte
9. PM Kishida of Japan will discuss energy and green technology in Abu Dhabi.
10. Chinese economic growth weakened in Q2 as the rebound stalled
11. Chinese shares decline on a poor GDP, Asian stocks are muted.
12. After dismal China GDP, Asia FX declines, while the dollar holds steady.
13. As debt levels climb, the central bank of S. Korea issues a warning about the risk to financial stability.
14. A slight increase in the dollar causes gold to drop.
15. Typhoon warning causes the Hong Kong Stock Exchange to postpone trading.
16. Oil declines after Libya restarts production; China data is being considered
17. As China’s GDP disappoints, oil prices decline from recent highs.
18. Asia’s stocks decline as China’s data disappoints
19. After the post-CPI rise, gold declines, and copper prices are impacted by a dismal China GDP.
20. China’s crude steel output increased in June due to higher profits.
21. The weak Q2 GDP growth in China increases the need for stronger policy backing.
22. China’s property sales and investment declined more quickly between January and June.
23. China renews medium-term policy loans with the same interest rate
24. Dollar licks its wounds as looming China data
25. China’s June new home prices were unchanged, the year’s worst performance.

ECONOMIC DATA

•  June import prices fell -0.2% M/m vs. est. (-0.1%) and vs. May (-0.4%), while June export prices fell (-0.9%) vs. est. (-0.2%) and vs. May (-1.9%); U.S. June year-over-year import prices -6.1%, export prices -12.0%.
• University of Michigan surveys of consumers sentiment prelim July 72.6 tops consensus 65.5 and above final June 64.4; current conditions index prelim July 77.5 vs. final June 69.0 and expectations index prelim July 69.4 vs final June 61.5.
•  University of Michigan surveys of consumers 1-year inflation outlook prelim July 3.4% vs final June 3.3% and University of Michigan surveys of consumers 5-year inflation outlook prelim July 3.1% vs final June 3.0%.

GLOBAL ECONOMIC DATA

China GDP Expands 6.3% in the Second Quarter, Missing forecast; 2Q GDP expands 6.3%, missing 7.1% forecast; June retail sales up 3.1% as factory output increases 4.4%; China leaves key rate steady following June decrease; report comes amid pressure for additional assistance to boost development.

Economic Calendar

•  8:30 AM ET                  Empire Manufacturing for July

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