Dow futures gains 35 points, U.S. market news July 27

Dow Futures contract was up 35 points, or 0.1%, at 06:35 ET (10:35 GMT), the S&P 500 Futures contract was up 30 points, or 0.6%, and the Nasdaq 100 Futures contract was up 195 points, or 1.3%.

Today’s main U.S. market news-

1. What’s moving markets? The Fed hikes rates, Meta outperforms forecasts, and Intel is on the agenda.
2. Dow futures jump following the Fed meeting, while Meta gains on increased ad income.
3. Comcast exceeds revenue projections thanks to increases from theme parks and studios.
4. Harley-Davidson’s quarterly profit falls due to a manufacturing standstill.
5. McDonald’s revenues exceed expectations as consumers flock to cheaper burgers.
6. Netflix is redoing its Microsoft arrangement, lowering ad pricing – WSJ
7. The dollar falls as the Fed’s last rate hike is expected to be the last; markets await the ECB.
8. Linde, an industrial gases company, raises its earnings forecast following a strong second-quarter performance.
9. Northrop Grumman’s earnings and revenue exceeded expectations.
10. Lazard’s quarterly earnings falls as Wall Street’s dealmaking slump continues.
11. Honeywell’s earnings were $0.02 higher than expected, but revenue fell short of expectations.
12. Westinghouse Air Brake’s earnings were $0.08 higher than expected, and revenue above expectations.
13. Dow futures rise after the Fed raises interest rates, and Meta gains 7% following earnings.
14. Gold prices climb as the dollar falls following the Fed’s rate hike.
15. Samsung will extend production cuts following a $7 billion chip loss in the first quarter.
16. Netflix revises Microsoft agreement, lowers ad pricing – WSJ
17. Economic growth in the United States is predicted to be moderate in the second quarter.
18. US regulators will unveil a strategy to help banks increase cash buffers.
19. Chipotle sales fall short of Wall Street expectations as price increases slow.
20. Align Technology’s stock is up 12% after the company’s second-quarter earnings report.

GLOBAL NEWS 

1. Japan’s markets are higher at the close of trade, with the Nikkei 225 up 0.82%.
2. Australia’s stocks are higher at the close of trade, with the S&P/ASX 200 up 0.73%.
3. At the closing of trade, Indian markets were lower; the Nifty 50 was down 0.60%.
4. Cemex’s profit rises somewhat as a result of pricing increases and a strong peso.
5. Takeda Pharmaceuticals of Japan exceeds Q1 earnings forecasts on staple pharmaceuticals and a dengue vaccine.
6. European stocks are up; the attention is on the Barclays and ECB meetings. 
7. Oil is approaching its April peak due to restricted supplies.
8. Following a record year, Mediobanca will initiate a new $223 million buyback.
9. As energy prices fall, Shell’s profits fall 56% to $5 billion.
10. Shell ADR earnings were $1.06 lower than expected, but revenue exceeded expectations.
11. As the Fed offers no shocks, Asian stocks jump and technology surges.
12. Asia FX surges as the dollar falls following the Fed rate hike.
13. Mercedes-Benz says better supply boost orders, but the economy remains a factor.
14. Renault reports a record first-quarter operating margin, aided by high-priced new vehicles.
15. As Russian oil prices exceed the G7 price threshold, the US considers gentle enforcement.
16. Nestle outperforms forecasts for organic sales in the first half.
17. Debt-laden Casino, a French retailer, reports a first-quarter operational loss.
18. Volkswagen will prioritize increased net cash flow in the second quarter.
19. Pakistan claims China has extended a $2.4 billion loan for another two years.
20. Following Hong Kong’s rate hike, HSBC will raise its prime lending rate to 5.875%.
21. China’s industrial profits continue to fall by double digits due to sluggish demand.
22. Macquarie reports lower quarterly earnings as its commodities department struggles.
23. Jio Financial Services of India and BlackRock are collaborating to develop an asset management enterprise.
24. Banks walk a fine line with politically exposed clientele.
25. Renault returns to profitability in the first quarter.
26. Samsung will extend production cuts following a $7 billion chip loss in the first quarter.
27. A judge has rejected the United States’ effort to limit American Airlines and JetBlue mergers.
28. Higher investments by eBay knock on profit estimate; shares fall
29. Airbus earns more money and abandons its short-term output target.

Economic data

• Single-family new home sales for June fell -2.5% to 697K unit annual rate, below consensus 725K and down from May 715K rate; new home supply 7.4 months’ worth at current pace vs May 7.2 months; median sale price $415,400, -4.0% from June 2022 ($432,700).

Economic Calendar

•   8:30 AM ET                  Gross Domestic Product (GDP) for Q2
•      8:30 AM ET                  GDP Price Deflator
•      8:30 AM ET                  Personal Spending for Q2
•      8:30 AM ET                  PCE Prices for Q2
•      8:30 AM ET                  Core PCE Prices advance for Q2
•      8:30 AM ET                  Weekly Jobless Claims
•      8:30 AM ET                  Continuing Claims
•      8:30 AM ET                  Advance Goods Trade Balance
•      8:30 AM ET                  Durable Goods Orders M/M for June
•      8:30 AM ET                  Durable Goods Ex: Transportation M/M for June
•      10:00 AM ET                Pending Home Sales M/M for June
•      10:30 AM ET                Weekly EIA Natural Gas Inventory Data
•      11:00 AM ET                Kansas City Fed Manufacturing for July
•      1:00 PM ET                   US Treasury to sell $35B in 7-year notes.

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