The Dow Futures contract was down 10 points or 0.1% by 06:45 ET (10:45 GMT), the S&P 500 Futures were down 5 points or 0.1%, and the Nasdaq 100 Futures were down 30 points or 0.2%.
Today’s main U.S. market news-
- Wall Street is expected to open subdued amid ongoing rate concerns
- Just slightly lower Dow futures as Russian uncertainty weighs ahead of an important inflation report
- Futures decline as Russia’s unrest dampens the atmosphere worldwide
- What’s moving markets: Tesla, Russian unrest, and the German Ifo
- Oil prices ignore the political unrest in Russia
- Blackstone will sell industrial buildings to Prologis for $3.1 billion.
- For $4.6 billion, IBM will purchase software company Apptio to expand its cloud offerings.
- Over the next two meetings, the Bank of England will raise the bank rate to 5.50%: Reuters Survey
- Ford fires contract workers before its scheduled layoffs
- Pressure on Tesla following a downgrade by Goldman
- Oil fluctuates following early increases motivated by Russia
- For the second consecutive month in June, German business confidence declined this month.
- Leipzig Amazon employees begin a 48-hour walkout in protest at lower pay
- Rate increases and recession risk cause a 4-year low in private equity deal volume.
- UBS downgrades Alphabet stock, citing Meta and Amazon as having higher risk-reward ratios.
- IBM is in advanced talks to pay $5 billion to acquire the software company Apptio.
GLOBAL NEWS
- Official worries about weak currency; yen outperforms; rouble erratic.
- Pakistan cenbank raises key policy rate to 22%.
- Bank of England to raise Bank Rate to 5.50% over two meetings: Reuters Poll
- After an attempted trade, stocks fell and gold rose. The Russian insurrection sparks a movement for safe havens.
- German business morale suggests that the recession will last longer.
- The Turkish lira has reached a new low following the relaxation of bank regulations.
- Defence stocks drive down European shares following the failure of a Russian mutiny.
- PwC Australia battles to control the government tax leak controversy
- Japan’s top currency ambassador raises the stakes in his warning against a weak yen.
- S&P Global lowers its prediction for China’s growth in 2023 to 5.2% from 5.5%.
- After a failed mutiny, the rouble begins at a 15-month low against the dollar.
- A BOJ member demanded an early adjustment to the YCC, and yen concerns have returned.
- Oil increases on worries Politics in Russia could have an impact on supply
- GM will receive manganese sulphate from Australia’s Element 25, sending its shares up.
- Dollar steady as investors mull over global rates and the outlook for the economy
- The chief currency envoy of Japan increases his warning against a weak yen.
- At market close, Australian stocks were lower, with the S&P/ASX 200 falling by 0.29%.
- At the closing of trading, Japanese stocks fell; the Nikkei 225 fell by 0.25%.
- GM will receive manganese sulphate from Australia’s Element 25, sending its shares up.
- PwC Australia will sell its government clientele for $1 and name a new CEO.
- SBI Holdings of Japan increases its share in Shinsei Bank following a tender offer
Economic Data
Global Economic data
- When second-quarter earnings are released in July, Wall Street expects a third straight quarter of decreasing profits and the worst drop since the 2020 pandemic, but that may be the bottom. FactSet predicts a 6.5% drop in second-quarter S&P 500 index company per-share profit. The worst drop since 2020’s 31.6% drop
Economic Calendar
- · 10:30 AM ET Dallas Fed Manufacturing for June
- · 1:00 PM ET US Treasury to sell $42B in 2-year notes.
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