Dow Futures contract was up 100 points, or 0.3%, the S&P 500 Futures contract was up 6 points, or 0.1%, and the Nasdaq 100 Futures contract was down 12 points, or 0.1%.

Today’s main U.S. market news –

1. What’s moving markets: Arm set to extend gains, Chinese data improves sentiment 
2. Dow futures are up; Arm Holdings and Michigan consumer sentiment are in the spotlight. 
3. Tesla is looking for investors for a $1.8 billion EV lease securitization. 
4. The historic expiration of $3.4 trillion in US options is expected to exacerbate market volatility. 
5. SocGen is considering selling its Equipment Finance unit as part of a strategic review, according to sources. 
6. Inflows into money markets have surpassed $1 trillion year to far, according to BofA. 
7. Arm, SoftBank’s semiconductor designer, extends gains following its $65 billion Nasdaq debut. 
8. Logitech’s founder requests that the computer peripherals group select a new chairperson. 
9. Instacart raises IPO pricing following successful ARM launch; analyst calls valuation’reasonable’ 
10. The Nasdaq rises 32% in 2023, boosted by AI growth and excellent economic conditions. 
11. Peter Orszag, Lazard’s new CEO, intends to treble sales by 2030. 
12. Citigroup now predicts that the Fed will raise interest rates in November. 
13. Belgium evaluates France has halted sales of Apple’s iPhone 12 due to radiation concerns. 
14. Arm Holdings makes its Nasdaq debut amid mixed European market sentiment. 
15. In the face of growing prices, Equifax Canada announces record high credit card balances. 
16. Canadian Western Bank declares a $0.33 per share dividend: a look at its dividend history and growth 
17. Analysts’ views to Visa’s proposed sale of shares are divided. 
18. Alphabet’s new employment layoffs are good for the stock – BofA 
19. Producer prices and retail sales rise as the Fed considers its next policy move. 

GLOBAL NEWS 

1. Japan’s stock market closed higher, with the Nikkei 225 up 1.11%. 
2. At the close of trading, Australian equities were higher; the S&P/ASX 200 was up 1.29%. 
3. The Nifty 50 is up 0.44% at the closing of trade in India. 
4. Asia FX gains on China optimism, with the dollar reaching a 6-month high. 
5. In August, China’s industrial production increased faster than projected. 
6. The Russian central bank raises interest rates to 13% and gives hawkish guidance. 
7. The Sri Lankan GDP declined 3.1% in the second quarter due to the financial crisis. 
8. Kazaks of the ECB keeps the door open to rate hikes if necessary. 
9. Gamer Pakistan Announces 3.41 Million Share IPO at $4-$5/sh 
10. Exclusive-Bayer’s new CEO intends to reduce management positions as part of a restructuring. 
11. European markets rise as a result of the ECB meeting and positive Chinese data. 
12. The ECB’s interest rate hike has sparked political opposition in Italy and Portugal. 
13. Mercedes-Benz has threatened to recall Euro 6 vehicles due to defeat devices. 
14. China is posing an increasing threat to German auto manufacture, according to an IW study. 
15. H&M’s quarterly sales are stagnant as the company feels the pressure of competition. 
16. Tata Motors is planning exclusive showrooms for electric vehicles and is looking into exports. 
17. Due to the claims and China’s economic difficulties, BlackRock funds have seen large outflows. 
18. Dixon Technologies, a Xiaomi supplier, will establish a major plant in New Delhi. 
19. Taiwan’s stock exchange is diversifying its equities market by focusing on the technology and innovation sectors. 
20. The auto strike could be a speed bump for the hard-working US economy. 
21. Asian equities rise as a result of Chinese stimulus, while Fed pause wagers fuel the tech boom. 
22. Deutsche Bank will store cryptocurrency for institutional clients. 
23. The European Central Bank raises interest rates by 25 basis points. 
24. Official: India may reduce market borrowing if modest savings rise. 

 Economic data

·     The Producer Price Index (PPI) advanced 0.7% M/M in August, exceeding the 0.4% consensus and rising from 0.3% in July, while headline Y/Y rose +1.6% vs. est. +1.2% and above +0.8% in July. On a core basis (ex: food and energy), PPI M/M rose an in-line +0.2% and +2.2% Y/Y (also in-line with estimates), which was down from the 2.4% print prior.

·     August Retail Sales come in better, rising +0.6% M/M vs. +0.2% expected and +0.5% in July (revised from +0.7%), while core Retail Sales rose +0.6% M/M vs. +0.4% expected and +0.7% in July (revised from +1.0%). Ex-Auto & Gas: +0.2% M/M vs. +0.5% expected and +0.7% prior.

·     Weekly Jobless Claims rose to 220K from 217K prior week and vs. est. 225K; the 4-week moving average fell to 224,500 from 229,500 prior; continued claims rose to 1.688M from 1.684M prior (est. 1.695M) and the U.S. insured unemployment rate unchanged at 1.1%.

·     U.S. July inventory/sales ratio 1.39 months’ worth vs June 1.40 months; Business Inventories unchanged (consensus +0.1%) vs June -0.1% (prev unchanged); July business sales +0.6% vs June -0.2% (prev -0.1%). July retail inventories ex-autos revised to unchanged (prev +0.1%).  

Economic Calendar

·     8:30 AM ET                  Empire Manufacturing for September…est. (-10.0)

·     8:30 AM ET                  Import Prices M/M for August…est. +0.3%

·     8:30 AM ET                  Export Prices M/M for August…est. +0.4%

·     9:15 AM ET                  Industrial Production M/M for August…est. +0.1%

·     9:15 AM ET                  Capacity Utilization M/M for August…est. 79.3%

·     10:00 AM ET                University of Michigan Confidence, Sept-P…est. 69.1

·     10:00 AM ET                UoM 1-year and 5-year inflation expectations, Sept-P

·     1:00 PM ET                   Baker Hughes Weekly rig count data

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