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HomeMarket AnalysisDow futures gains 55 points, U.S. market news Aug 07

Dow futures gains 55 points, U.S. market news Aug 07

The Dow futures contract was up 55 points, or 0.2%, at 06:30 ET (10:30 GMT), the S&P 500 futures were up 12 points, or 0.3%, and the Nasdaq 100 futures were up 62 points, or 0.4%.

  1. CPI and incomes in the United States are on the up, and ‘Barbie’ has surpassed $1 billion in revenue – what’s driving markets?
  2. Dow futures increase as investors await earnings and inflation data.
  3. Banks in the United States are beginning to pick their battles against new capital regulations.
  4. Credit Suisse will lay off 80% of its Hong Kong investment bank employees starting this week, according to a source.
  5. The S&P 500’s quarterly earnings have been positive, but sales has not been.
  6. Aramco’s second-quarter profit fell 38% to $30.1 billion, but the company increased its dividend.
  7. ICE and Black Knight have reached an agreement with the FTC to drop the proposed deal’s court lawsuit.
  8. In the second quarter, KKR income fell by less than expected.
  9. Veritiv Corp, a packaging company, will be purchased by CD&R for $2.3 billion.
  10. As competition heats up, Lucid reduces the price of its Air Sedan.
  11. Campbell is paying $2.33 billion for Rao’s premium sauce manufacturer Sovos.
  12. Tyson Foods falls 7% as FQ3 results fall short of analyst expectations due to lower demand for hog meat.
  13. Earnings at Henry Schein were $0.03 higher than expected, but revenue fell short of expectations.
  14. ‘Barbie’ ticket sales surpass $1 billion at Warner Bros.
  15. Dow futures rise marginally as investors await earnings and inflation data.
  16. Oil is holding near a four-month high following supply curbs, while inflation cues are awaited.
  17. The dollar is on the defensive as US inflation data is due.
  18. Musk claims that his confrontation with Zuckerberg will be live-streamed on X.
  19. Berkshire Hathaway B failed on earnings, but revenue met expectations.
  20. Estia Health shares are nearing a 5-year high following Bain Capital’s $551 million acquisition.
  21. Gold prices rise slightly, but copper prices remain unchanged ahead of inflation data.

GLOBAL NEWS 

  1. Japan’s markets are higher at the close of trade, with the Nikkei 225 up 0.29%.
  2. At the close of trading, Australian stocks were lower; the S&P/ASX 200 was down 0.22%.
  3. The Nifty 50 is up 0.41% at the closing of trade in India.
  4. According to a Reuters survey, Turkey’s current account is expected to show a rare surplus in June.
  5. Postage stamp price hike request rejected by German regulator
  6. Warabeya shares in Japan fall after a cockroach was discovered in 7-Eleven rice balls.
  7. Toshiba has announced that a tender offer to take the company private will be launched on Tuesday.
  8. European stock futures are rising; confidence is being put to the test by inflation.
  9. Asia FX falls as the dollar and rates increase ahead of inflation data.
  10. Aramco’s second-quarter profit fell 38% to $30 billion.
  11. Indonesia’s GDP growth in the second quarter was the highest in three quarters.
  12. Japan’s rates are falling alongside their peers in the United States, as a 30-year auction approaches.
  13. House prices in the United Kingdom continue to tumble, but the market remains resilient-Halifax
  14. According to a Reuters survey, China’s exports are anticipated to fall more in July, while imports are expected to decelerate.
  15. Inflation prospects were discussed by the BOJ during its meeting in July.
  16. UK employment declines at the sharpest rate in more than three years, but pay growth slows
  17. According to a study, climate change puts sovereigns at risk of downgrading.
  18. At the closing of trading, Saudi Arabian stocks were lower; Tadawul All Share was down 0.21%.
  19. At market close, Israel equities were up; the TA 35 was up 0.68%.
  20. SoftBank is expected to generate a profit if tech stocks rise.
  21. Australia imposes a crackdown on tax advisers following the PwC leak incident.

Economic data

  •  Jobs data for July a mixed picture as headline light but wages higher: July private sector jobs +172,000 vs. consensus +179,000), Nonfarm payrolls +187,000 vs. est. +200,000) and both June and May revised lower: June to 185K from 209K and May to 281K from 306K. July government jobs +15,000 above views. July average hourly earnings all private workers +0.4% from prior month vs. est. +0.3% and July average hourly earnings +4.4% from year earlier (est. +4.2%). The U.S. July unemployment rate 3.5% below consensus 3.6%.

Global Economic Data

According to Federal Reserve Governor Michelle Bowman, the US central bank may need to boost interest rates further to properly restore price stability. “Additional rate hikes will almost certainly be required to get inflation back on track toward the FOMC’s 2% target,” Bowman said.

An elite group of North Korean hackers secretly breached computer networks at a major Russian missile developer; According to technical data examined by Reuters and security analysts, an elite group of North Korean hackers stealthily penetrated computer networks at a key Russian missile maker for at least five months last year. – According to Reuters

Economic Calendar

  •    8:30 AM ET                  Fed’s Bostic and Bowman Speak at Fed Listens Event
  •      10:00 AM ET                Employment Trends for July
  •      3:00 PM ET                   Consumer Credit for June
  • Other Key Events:
  •      BTIG Biotechnology Conference 2023 (Virtual), 8/7-8/8
  •      TD Cowen 9th Annual Communications Infrastructure Summit, 8/7-8/8, in CO
  •      China July Imports, Exports and Trade Balance

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