Dow futures gains 65 points, U.S. market news Aug 14

Dow Futures contract was up 65 points, or 0.2%, at 06:30 ET (10:30 GMT), the S&P 500 Futures contract was up 10 points, or 0.2%, and the Nasdaq 100 Futures contract was up 60 points, or 0.4%.

U.S NEWS

1. What’s influencing markets: China’s property sector difficulties, Goldman Sachs’ Fed outlook.
2. Dow futures rise as investors focus on retail earnings.
3. MSCI will pay $697 million in cash for the remaining Burgiss holding.
4. According to insiders, Boeing is the frontrunner in wide-body plane negotiations with IndiGo.
5. Target is expected to report its first quarterly revenue loss in six years as shoppers cut down on spending.
6. Lula says he wants US investments in Brazil to fuel the country’s energy revolution.
7. Nikola stock drops after battery explosions prompt an electric truck recall.
8. Despite exceeding earnings expectations, Apple supplier Foxconn remains wary.
9. Monday.com shares is up 5% on a beat-and-raise Q2 performance.
10. Futures prices climb as megacap growth stocks rebound; attention is focused on economic data.
11. Roivant Sciences discloses a higher-than-expected first-quarter loss.
12. Goldman expects the Fed to begin cutting rates in the second quarter of next year, with the funds rate stabilizing at 3%.
13. Chesapeake will complete its exit from the Eagle Ford basin with the SilverBow transaction.
14. Magic Software Enterprises’ earnings were $0.02 higher than expected, but revenue fell short of expectations.
15. According to GOLDMAN SACHS, the Federal Reserve will begin lowering interest rates in June of the next year.
16. US MONEY MARKET FUNDS have already amassed more than $5.5 trillion, setting a new high.
17. SoftBank is in talks to buy Vision Fund’s 25% interest in Arm, according to sources.
18. After rejecting a $7.3 billion bid from Cleveland, US Steel is considering its alternatives.-Cliffs
19. Tesla has reduced the pricing of various Model Y variants in China.
20. Khemlani, President of CBS News, Resigns – New York Times

GLOBAL NEWS 

1. India’s markets were up at the close of trading, with the Nifty 50 up 0.03%.
2. S&P/ASX 200 is down 0.86% at market close, reflecting a decline in Australian stocks.
3. Japanese stocks fell at the closing of trading; the Nikkei 225 fell 1.21%.
4. Taiwan consumer unit is sold by US bank Citi to Singapore’s DBS.
5. European shares manage gains as telecom and healthcare firms rally.
6. Portugal has more visitors than ever in the first half of the year.
7. After the far-right won the primary election, Argentina’s markets fell.
8. China’s Country Garden wants to put off paying back its domestic bonds, escalating market anxiety
9. Asian stocks have been battered by China’s difficulties and increased US inflation.
10. Asia’s currency falls, while the dollar surges to a five-week high as US inflation rises.
11. European market futures are falling as a result of Chinese property difficulties and Fed hike fears.
12. China’s Country Garden falls to a new low when bond trading is halted.
13. Foxconn’s second-quarter earnings fell 1%, although it is more than expected.
14. As the rouble approaches 100 per US dollar, the Kremlin blames loose monetary policy.
15. Oil falls as the dollar strengthens and the Chinese economy recovers from a seven-week rise.
16. Gold and copper prices have fallen to a one-month low amid fresh inflation fears.
17. In tumultuous trading, the yen breaks over the 145/$ barrier, while the dollar remains steady.
18. North Korean leader Kim Jong Un ordered the production of additional missiles ahead of South Korea and US drills.
19. A court in Australia fined Dell $6.5 million for deceiving customers about discounts.
20. Australian telecommunications companies Telstra and TPG will not appeal the asset transfer deal’s blockage.

Economic data

• Core PPI for July came in at +2.4% y/y versus consensus of +2.3%, which was somewhat hotter than expected but in line with the preceding +2.4%. In contrast to the consensus of +0.2% and higher than the prior +0.1%, the core mo/mo reading was +0.3%.
• Michigan State University Preliminary Sentiment for August came in at 71.2, which was roughly in line with predictions of 71.3 and the prior reading of 71.6. On the back of a slight improvement in the present situation and a slight decline in expectations, the sentiment spread increased slightly from 8.3 to 10.1.
• The one-year forecast for inflation from the University of Michigan was 3.3%, compared to the consensus forecast of 3.5% and the previous forecast of 3.4%, while the five-year forecast was 2.9%, compared to the consensus forecast of 3.0% and the previous forecast of 3.0%.

Global Economic Data

The Federal Reserve is expected to start cutting interest rates by the end of next June, with subsequent reductions occurring gradually and periodically after that. Goldman projects the first Fed rate cut for the 2024 second quarter. by Bloomberg.

Economic Calendar

No Major US Economic Data

Other Key Events:

China Industrial Output, Retail Sales for July

Needham Annual MedTech & Diagnostics Conference (virtual) 8/14-8/15

Stifel Biotech Executive Summer Summit, 8/14-8/16, in Newport, RI

Must read a book about investing – check here

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