Dow futures up 19 points, U.S. market news Aug 30

Dow futures

Dow Futures contract was up 19 points, 0.05%, S&P 500 Futures traded almost steady and Nasdaq 100 Futures lost 9 points, or 0.1%.by 07:00 ET (11:00 GMT).

US NEWS

1. Dow futures fall after two days of gains; ADP data and HP results are in the spotlight. 
2. What’s moving markets: private payrolls data, Nvidia’s record close 
3. As loan rates rise, US LNG projects get greater processing fees.
4. Premarket losses for HP, Peloton, and Rite Aid; gains for Nvidia
5. Orsted shares fell 22% as the offshore wind company warned of the prospect of impairments. 
6. Oil prices climb due to a reduction in US stockpiles and hurricane fears. 
7. The dollar has stabilized following dismal JOLTS data; ADP payrolls are due. 
8. Grayscale wins against the SEC in the spot ETF case, and bitcoin businesses 
9. Oil prices climb due to a huge draw in US stockpiles and hurricane fears. 
10. PepsiCo returns to Indonesia and begins construction on a snack facility. 
11. Toyota’s global sales increased in July, setting a monthly record. 
12. Apple will hold a fall event on September 12th, and analysts anticipate new iPhones. 
13. Goldman Sachs will pay $5.5 million to satisfy US Commodity Futures Trading Commission allegations that it neglected to retain cell phone records. 
14. Bitcoin reaches a two-week high following the Grayscale spot bitcoin ETF verdict. 
15. A US court rules that the SEC erred in rejecting Grayscale’s spot bitcoin ETF proposal. 
16. Stocks in the United States are climbing as investors anticipate critical statistics on inflation and employment. 
17. Job opportunities in the United States fell to 8.8 million in July, according to the JOLTS survey. 
18. Google announces AI products for commercial customers starting at $30 per month. 
19. US states have asked the SEC to investigate whether Shein is in compliance with forced labor laws. 
20. The dollar falls after the employment report, while the yen briefly falls to a 10-month low. 

GLOBAL NEWS 

1. The Nifty 50 is up 0.02% at the closing of trade in India.
2. Australia’s equities are higher at the close of trade, with the S&P/ASX 200 up 1.21%. 
3. Japan’s markets are higher at the close of trade, with the Nikkei 225 up 0.38%. 
4. European stock futures rise; German and Spanish CPI data are in focus 
5. Iliad reports profit growth despite a challenging telecom sector backdrop. 
6. A BOJ policymaker suggests that policy could be tweaked early next year. 
7. July import prices in Germany fell by the most since 1987. 
8. Asian stocks touched a two-week high on the likelihood of a Fed pause. 
9. In July, European auto sales increased by 15%, while EV sales increased by over 61%. 
10. Toyota’s global sales increased in July, setting a monthly record. 
11. Chinese investment in Brazil falls 78% in 2022, reaching its lowest level since 2009. 
12. European stocks are at a two-week high, with the FTSE 100 outperforming. 
13. Orsted’s slump dampens European stocks, but insurers climb.
14. Chinese banks report weak profit growth and warn of regional debt dangers.
15. World stocks are approaching their worst month of the year.Simplex of Japan releases the first ETFs focused on stocks trading below book value.
16. Sensex and Nifty close flat amid turmoil; real estate gains, banks drag
17. Oil prices climb due to a reduction in US stockpiles and hurricane fears.
18. Gold is nearing a three-week high as investors reduce their expectations on a US rate hike.
19. The dollar licks its wounds following the jobs shock; the Australian dollar falls as inflation eases.
20. Asian markets were trading higher, closely matching movements on Wall Street. 
21. The GIFT Nifty indicates a flat opening for India’s broader market.

Economic Data

JOLTS job openings fall to 8.827M in July vs. June 9.165M and consensus of 9.5M.  

The Consumer Confidence index for August 106.1 vs. consensus 116.0 and vs July 117.0. 

U.S. Home prices rose for 4th straight month in June, Case-Shiller data shows as seasonally adjusted HPI Composite for 20 cities: +0.9% M/M vs. +1.1% consensus and +1.0% in May. HPI composite for 20 cities, not seasonally adjusted: +0.9% M/M vs. +0.8% consensus and +1.5% in May. Y/Y, -1.2% vs. -1.1% expected and -1.7% prior. 

FHFA House Price Index: +0.3% vs. +0.2% expected and +0.7% prior (unchanged).

Global Economic Data

Japanese Prime Minister Fumio Kishida said the government plans to introduce new subsidies next month to bring down record gasoline prices that have added to stubbornly high inflation.

UK home sales are on course to fall -21% to the lowest level seen since 2012 due to higher interest rates.

Economic Calendar

7:00 AM MBA Mortgage Applications Data
8:15 AM ADP Employment Index for August…est. 195K
8:30 AM Gross Domestic Product (GDP) Q2 second estimate…est. +2.4%
8:30 AM GDP Q2 Consumer Spending…prior 1.6%
8:30 AM GDP Price Deflator for Q2…est. +2.2%
8:30 AM GDP PCE Prices Q2-prelim…est. +2.6%
8:30 AM GDP Core PCE Prices for Q2-prelim…est. +3.8%
8:30 AM Advance Goods Trade Balance for July
10:00 AM Pending Home Sales M/M for July
10:30 AM Weekly DOE Inventory Data

Other Key Events:

• China NBS Manufacturing PMI for August
• Deutsche Bank 2023 Technology Conference, 8/30-8/31, in Dana Point, CA
• Piper 2023 Texas Bank Tour, 8/28-8/30, in Dallas, TX
• Stephens Restaurant Investor Field Trip, 8/28-8/30
• Stifel Tech Executive Summit Deer Valley, 8/28-8/30, in Utah
• William Blair West Coast Med Tech & Life Sciences Field Trip, 8/28-8/31 in San Diego

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