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HomeLatest NewsGlobal NewsDow futures gains 70 points, U.S. market news July 24

Dow futures gains 70 points, U.S. market news July 24

Dow Futures rose 70 points, or 0.2%, S&P 500 Futures up 12 points, or 0.3%, and Nasdaq 100 Futures rose 45 points, or 0.3%, around 06:40 ET (10:40 GMT).

Today’s main U.S. market news-

  1. What’s moving markets? The Fed’s decision and earnings, as well as Twitter’s rebranding plan.
  2. Futures prices rise ahead of more Big Tech earnings and a Fed decision.
  3. As the AI focus remains strong, Big Tech appears to be turning the corner on cloud.
  4. Apple has asked its suppliers to ship approximately 85 million new iPhones in 2023, according to Bloomberg.
  5. Simply Self Storage will be acquired by Public Storage for $2.2 billion.
  6. CGI Group will invest $1 billion to expand its AI capabilities.
  7. Sam Altman of OpenAI has launched the Worldcoin cryptocurrency initiative.
  8. J&J has launched a share exchange offer for Kenvue, a consumer health spin-off.
  9. Domino’s Pizza falls short of its quarterly same-store sales target.
  10. Foxconn will acquire a 50% share in ZF’s axle system unit.
  11. Adidas has received $565 million in requests for unsold Yeezy sneakers- FT
  12. Analysts believe Meta’s Threads could entice advertisers away from Twitter.
  13. A planned settlement on AMC Entertainment (NYSE:AMC) that would allow the business to issue more shares has been halted by a US court judge.
  14. Dow futures fall, earnings and the Fed decision are in the spotlight
  15. Elon Musk has stated that Twitter’s blue bird emblem will be replaced by an X.
  16. The American Airlines union has postponed a vote on a contract agreement.
  17. Chevron’s earnings were $0.10 higher than expected, and revenue above expectations.
  18. CME Group will lay off 3% of its personnel and reallocate jobs.
  19. Spotify intends to hike premium plan prices in the United States -WSJ

GLOBAL NEWS 

  1. Asian stocks are moving past Fed concerns, and Japan is rallying on robust results.
  2. European equities fall; German PMI disappoints, and Philips falls.
  3. The dollar falls as the critical central bank week begins.
  4. UK company growth slows to its worst in six months as rate hikes weigh: PMI
  5. Spanish banks and utilities companies have taken a knock as investors are concerned about the next election.
  6. Mexico’s economy will slow in tandem with the slowing of US growth, according to a Reuters poll.
  7. The euro falls after dismal corporate activity data, and central banks are under scrutiny.
  8. Vodafone reports higher revenue growth and a new CFO.
  9. The euro falls after business activity statistics, and all eyes are on central banks.
  10. The eurozone’s economic slowdown deepens significantly more than expected in July, according to the PMI.
  11. In June, producer prices in Spain fell 8.1% year on year.
  12. Mitsubishi’s results beat expectations, propelling Japanese manufacturers higher.
  13. According to Julius Baer, Net profit increased by 18% in the first quarter.
  14. Oil prices fall as the Fed fears a rate hike.
  15. Gold falls as Fed Week begins, while copper suffers from China worries.
  16. According to a Reuters survey, India’s economy would continue to rank first in terms of GDP but not in terms of employment growth.
  17. The yen is under pressure as markets await policy announcements.
  18. Stellantis and Samsung SDI have agreed to develop a second battery facility in the United States.
  19. Bain will purchase a 90% stake in Adani Capital and Adani Housing.

Economic Calendar

  •   8:30 AM                 National Activity Index for June
  •      9:45 AM                 S&P Global Manufacturing PMI-July-F
  •      9:45 AM                 S&P Global Services PMI, July-F
  •      1:00 PM                 US Treasury to sell $42B in 2-year notes.

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