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-

1. Wall Street is expected to open subdued amid ongoing rate concerns
2. Just slightly lower Dow futures as Russian uncertainty weighs ahead of an important inflation report
3. Futures decline as Russia’s unrest dampens the atmosphere worldwide
4. What’s moving markets: Tesla, Russian unrest, and the German Ifo
5. Oil prices ignore the political unrest in Russia
6. Blackstone will sell industrial buildings to Prologis for $3.1 billion.
7. For $4.6 billion, IBM will purchase software company Apptio to expand its cloud offerings.
8. Over the next two meetings, the Bank of England will raise the bank rate to 5.50%: Reuters Survey
9. Ford fires contract workers before its scheduled layoffs
10. Pressure on Tesla following a downgrade by Goldman
11. Oil fluctuates following early increases motivated by Russia
12. For the second consecutive month in June, German business confidence declined this month.
13. Leipzig Amazon employees begin a 48-hour walkout in protest at lower pay
14. Rate increases and recession risk cause a 4-year low in private equity deal volume.
15. UBS downgrades Alphabet stock, citing Meta and Amazon as having higher risk-reward ratios.
16. IBM is in advanced talks to pay $5 billion to acquire the software company Apptio.

GLOBAL NEWS 

1. Official worries about weak currency; yen outperforms; rouble erratic.
2. Pakistan cenbank raises key policy rate to 22%.
3. Bank of England to raise Bank Rate to 5.50% over two meetings: Reuters Poll
4. After an attempted trade, stocks fell and gold rose. The Russian insurrection sparks a movement for safe havens.
5. German business morale suggests that the recession will last longer.
6. The Turkish lira has reached a new low following the relaxation of bank regulations.
7. Defence stocks drive down European shares following the failure of a Russian mutiny.
8. PwC Australia battles to control the government tax leak controversy
9. Japan’s top currency ambassador raises the stakes in his warning against a weak yen.
10. S&P Global lowers its prediction for China’s growth in 2023 to 5.2% from 5.5%.
11. After a failed mutiny, the rouble begins at a 15-month low against the dollar.
12. A BOJ member demanded an early adjustment to the YCC, and yen concerns have returned.
13. Oil increases on worries Politics in Russia could have an impact on supply
14. GM will receive manganese sulphate from Australia’s Element 25, sending its shares up.
15. Dollar steady as investors mull over global rates and the outlook for the economy
16. The chief currency envoy of Japan increases his warning against a weak yen.
17. At market close, Australian stocks were lower, with the S&P/ASX 200 falling by 0.29%.
18. At the closing of trading, Japanese stocks fell; the Nikkei 225 fell by 0.25%.
19. GM will receive manganese sulphate from Australia’s Element 25, sending its shares up.
20. PwC Australia will sell its government clientele for $1 and name a new CEO.
21. 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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