Dow Futures gains 75 points , U.S. market news Sep-11

Dow Futures contract was up 75 points, or 0.2%, at 06:30 ET (10:30 GMT), the S&P 500 Futures contract was up 18 points, or 0.4%, and the Nasdaq 100 Futures contract was up 88 points, or 0.6%.

USA Market news

1. What’s influencing markets this week are inflation statistics and changes to Alibaba’s leadership? 
2. Yen surges on Ueda’s comments while the dollar declines ahead of inflation data. 
3. Dow futures rise as new inflation data and the IT sector are highlighted. 
4. Despite falling from 10-month highs, oil prices remain above $90 per barrel. 
5. Klaviyo, a marketing firm, intends to raise up to $518.4 million in a US IPO.
6. Google’s competitors get their day in court as the pivotal US antitrust trial begins.
7. Charlie Walker has been named deputy CEO of the London Stock Exchange by LSEG.
8. Instacart Announces IPO of 22 Million Shares at $26-$28/sh
9. RayzeBio announces a 14.4 million share IPO at $16-$18 per share.
10. Neumara Announces IPO of 14.71M Shares at $16-$18/sh
11. Klaviyo Announces IPO of 19.2M Shares at $25-$27/sh
12. Globavend Holdings Ltd announces an IPO of 1.88 million shares at $4-$5 per share.
13. Arm Holdings anticipates an IPO within or above its indicated range.- According to Reuters
14. To challenge the Tongass forest safeguards, Alaska sues the US government. 
15. According to Morgan Stanley, Tesla’s supercomputer may increase the company’s market value by $600 billion. 
16. According to insiders, J.M. Smucker and Hostess Brands, which owns Twinkies, are close to a $5 billion agreement. 
17. Nvidia’s supremacy in AI chips prevents startups from receiving funding 
18. In August, US West Coast ports increased their market share thanks to a labor agreement. 
19. Canada is planning incentives to reduce housing costs – CBC 
20. Dow futures are trading flat, with attention focused on new inflation data. 
21. WSJ reports that Meta is working on a new, more powerful AI system. 
22. Instacart’s IPO valuation might reach $9.3 billion, according to sources. 

GLOBAL NEWS 

1. Australia’s stocks are higher at the close of trade, with the S&P/ASX 200 up 0.50%.
2. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.41%.
3. The unbeaten run of India’s indices continues into the seventh day, with the Nifty breaking through 19,900.
4. Hong Kong mortgage rates will rise; property stocks decline
5. Charlie Walker has been named deputy CEO of the London Stock Exchange by LSEG.
6. The European Commission has reduced Germany’s growth prediction for 2023.
7. China’s central bank will examine big dollar transactions, according to sources.
8. European markets hit a one-week high on China confidence; attention turns to US CPI and the ECB meeting
9. According to the White House, Vietnam Air has signed a $7.8 billion purchase for Boeing 737 Max jets.
10. European stock futures rise as the ECB meeting approaches. 
11. Asia FX jumps as US inflation approaches; yen soars as BOJ talks turn 
12. Ahead of US inflation news, Asia’s stock markets decline 
13. A new criterion will be put to Country Garden for onshore bond extensions. 
14. Alibaba’s stock drops 4% when the departing CEO leaves the cloud unit. 
15. Alibaba falls after cloud unit CEO Daniel Zhang abruptly resigns. 
16. Malaysia aims for annual economic growth of at least 5% through 2025 – PM 
17. The yen rises in response to Ueda’s statements, while the dollar falls ahead of the US inflation report. 
18. Oil prices have fallen from near 10-month highs, with Brent remaining around $90. 
19. Alibaba falls after cloud unit CEO Daniel Zhang abruptly resigns. 
20. More To stimulate demand, Chinese cities relax home-buying restrictions. 
21. The mighty dollar contributes to the Fed’s heavy lifting: McGeever 
22. SocGen and Brookfield will establish a private debt fund. 
23. During Biden’s visit, the US and Vietnam convene a business summit; AI deals are announced. 
24. China’s August new bank loans increased more than projected, as credit expansion accelerates. 
25. Global corporations will increase security spending as dangers increase, according to a report. 

Economic Data

US wholesale sales +0.8% (consensus -0.2%) versus June -0.8% (prev -0.7%); US wholesale inventories updated to -0.2% (forecast -0.1%) from -0.1%; US July stock/sales ratio 1.39 months vs June 1.41 months. 

Economic Calendar

 1:00 PM ET                   US Treasury to sell $42B in 3-year notes. 

Other Key Events: 

·     Goldman Sachs Annual CEEMEA Financials Symposium, 9/11-9/12, in London 

·     HC Wainright Annual Global Investment Conference, 9/11-9/13, in New York 

Upcoming Weekly IPO Calendar: 

·     Arm Holding Ltd (ARM) 95.5M share ADS expected to price between $47-$51. 

Key Events in this week

Monday 9/11

ORCL earnings expected after the close.

Tuesday 9/12

Apple (AAPL) reveals its latest product launch as Wedbush said this week they expect a $100 price increase on the iPhone 15 Pro and iPhone 15 Pro Max model for the first price increases from Cupertino in years.

Wednesday 9/13

The August Consumer Price Index (CPI) data is expected with ests for headline M/M to rise +0.6% (vs. prior +0.2%) and Y/Y to rise +3.6% (vs. prior +3.2%) and on a core basis (ex: food & energy) to rise +0.2% M/M (in-line w prior) and rise +4.3% Y/Y (down from +4.7%). The recent spike in energy prices has led to higher ests. Lastly, the UAW contract with the Big ThreeUS automakers (GM, F, STLA) is set to expire

Thursday 9/14

a strike could hurt OEMs as well as part/suppliers (ADNT, BWA, DAN, MGA, VC). Also Thursday morning, the European Central Bank (ECB) meeting, and the August Producer Price Index (PPI) is expected at 8:30 AM. Also, another busy week for Wall Street Conferences including Financial, Healthcare, and Industrial conferences.

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