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HomeMarket AnalysisDow futures gains 180 points, U.S. market news Aug 08

Dow futures gains 180 points, U.S. market news Aug 08

The Dow Futures contract was down 180 points, or 0.5%, by 06:00 ET (10:6:00 GMT), the S&P 500 Futures were 23 points lower, or 0.5%, and the Nasdaq 100 Futures were down 80 points, or 0.5%.

  1. What’s moving markets: Eli Lilly, UPS, and SoftBank’s surprising loss.
  2. Dow futures are declining, but corporate earnings are still in the news.
  3. Futures are falling; banks are falling as a result of Moody’s downgrading.
  4. Carlyle Group will buy a minority position in Quest Global for $2 billion, according to sources.
  5. In a court petition, Meta Platforms attempts to avoid a privacy violation fine in Norway.
  6. As the US inflation report approaches, Wall Street closes up and regains territory.
  7. Wall Street is watching as Rivian aims for a $1 billion quarter.
  8. Li Auto shares are approaching a record high ahead of the release of the second quarter results.
  9. Options trades on earnings-driven volatility in US markets are paying well.
  10. Thiel’s Founders Fund leads a $280 million investment in Musk’s Neuralink.
  11. Toshiba has announced that a tender offer to take the company private will be launched on Tuesday.
  12. Despite concerns about EV labor demand, General Motors wants to increase its workforce next year.
  13. The banking industry in the United States has begun to pick its battles against new capital standards.
  14. TikTok’s lawsuit against Montana’s ban is supported by US tech groups.
  15. Dow futures remain stable, but Chegg gains 23.9% following earnings.
  16. Amazon’s performance may augur well for rival stores Walmart and Target.
  17. UBS reshuffles bank executives in an effort to compete with Wall Street.
  18. Dollar rises ahead of US and Chinese GDP reports
  19. US banker bonuses could fall by up to 25% due to slow deals, according to a consultant.
  20. Stocks and the dollar rise ahead of this week’s critical inflation data.
  21. Yellow Trucking Company in the United States declares bankruptcy and attacks Teamsters.
  22. UPS revenue falls short of expectations due to a drop in US packaging volumes.
  23. Beyond Meat stock plummets 15% following a revenue failure in the second quarter and a reduction in outlook; analysts are dissatisfied.
  24. According to the NFIB, small business confidence in the United States reached an eight-month high in July.
  25. Palantir delivers disappointing results and guidance, which are offset by a $1 billion stock buyback; comments are divided.
  26. Barrick exceeds quarterly profit expectations due to rising gold prices.

GLOBAL NEWS 

  1. European stock futures are falling; German yearly inflation is falling.
  2. Asia FX declines as a result of disappointing Chinese trade statistics, while the dollar advances.
  3. Australia’s equities closed higher, with the S&P/ASX 200 up 0.03%.
  4. Japan’s markets are higher at the close of trade, with the Nikkei 225 up 0.27%.
  5. In July, Greek EU-harmonised inflation rose to 3.5% year on year.
  6. High travel demand boosts revenues at German airport operator Fraport.
  7. Europe’s markets slump as Italian banks face a windfall tax.
  8. China’s auto sales fell for the second month in a row in July, as the price war continues.
  9. As traders digest bad Chinese data, global markets fall and bond yields fall.
  10. According to the research, video-game income would climb 2.6% in 2023 due to strong console sales.
  11. Country Garden fails to make bond payments as China property fears grow.
  12. Nedbank, a South African lender, reports an 11% increase in half-year earnings.
  13. Woodside of Australia will sell a 10% interest in Scarborough to LNG Japan for $500 million.
  14. For 2023, Italy imposes a 40% windfall tax on banks.
  15. High travel demand boosts revenues at German airport operator Fraport.
  16. After a 70% drop in valuation, some global investors are skipping Ant’s repurchase – Bloomberg News
  17. Kobe Steel of Japan improves its yearly profit prediction to $840 million.
  18. Siemens is assisting Austrian authorities in their investigation into corruption.
  19. SoftBank’s quarterly loss narrows as technology recovers, but it falls short of forecasts.
  20. In July, German inflation increased by 6.5%.
  21. Bayer reports a net loss of 1.89 billion euros in the second quarter.
  22. After dismal Chinese trade statistics, Asian markets fell and the dollar rose.

Economic data

  •  NIL

Global Economic Data

China’s trade numbers for July were generally disappointing. While the trade surplus increased more than expected to $80.60 billion (prev. $70.62 billion, est. $70.0 billion), this was attributable to a substantial -12.4% reduction in imports (-5.6% predicted) and a -14.5% loss in exports. China’s oil imports fell to their lowest level since January as the country’s slow economic recovery weighed on energy demand.

According to the British Retail Consortium (BRC), like-for-like retail sales climbed by 1.8% in July, the slowest rate since October and less than half the 12-month average of 3.6%.

 Japan’s current account increased to 2,345.9 billion yen in June from 1,702.7 billion yen the previous month; exports up 7.1% month on month, while imports increased 1.1% month on month.

Economic Calendar

6:00 AM                 NFIB Small Business Optimism for July

7:45 AM                  ICSC Weekly Retail Sales

8:15 AM                  Fed’s Harker Speaks on Economic Outlook in Philadelphia

8:30 AM                  International Trade Balance for June

8:55 AM                  Johnson/Redbook Weekly Sales

10:00 AM                Wholesale Inventory M/M for June

1:00 PM                   US Treasury to sell $40B in 3-year notes.

4:30 PM                   API Weekly Inventory Data

  •    
  • Other Key Events:
  •    
  • BTIG Biotechnology Conference 2023 (Virtual), 8/7-8/8Oppenheimer 26th Annual Technology Internet & Communications Conference (virtual), 8/8-8/9
  • TD Cowen 9th Annual Communications Infrastructure Summit, 8/7-8/8, in CO
  • TD Cowen Hot Wheels Bus Tour, 8/8-8/10, in New Jersey
  • China July CPI, PPI data

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