Dow futures slips 135 pionts, U.S. market news July 6th

The Dow Futures contract was down 135 points or 0.4% by 06:50 ET (10:50 GMT), the S&P 500 Futures were down 19 points or 0.4%, and the Nasdaq 100 Futures were down 70 points or 0.5%.

Today’s main U.S. market news-

1. Fed minutes, Threads launch, Yellen’s China visit—what’s moving markets?
2. Wall Street futures fall on rate hike concerns; Meta surges.
3. Meta shares rise after Threads launch; analysts expect minimal short-term impact.
4. Bitcoin hits 13-month high; crypto-linked stocks climb
5. Yellen begins China tour amid tensions.
6. June FOMC minutes: Citi forecasts 2 Fed hikes in 2023.
7. Booking defends ETraveli transaction at July 7 EU hearing.
8. Canada M&A activity improves, but dealmakers unclear on second-half prospects.
9. Airbus first-half deliveries up 6% to 316 jets-sources
10. Meta targets Twitter with Threads app, millions join
11. After the Fed minutes, Wall Street experiences a slight loss.
12. Today’s stock market: Meta increases, Dow declines as Fed minutes indicate further rate hikes
13. As Fed minutes predict additional rate hikes, gold reverses recent gains.
14. First round of the Zuckerberg-Musk fight: Meta releases the ‘Twitter Killer’ Threads app
15. For surveillance, Coinbase will work with Fidelity and other bitcoin exchange-traded funds. 
16. TikTok seeks a US judge to overturn a Montana ban before it takes effect on January 1st.
17. For the sake of the Spirit merger, JetBlue claims it will sever its agreement with American.
18. the Biden administration appeals the prohibition on using social media
19. In response to the Fed stress test, Bank of America raised its dividend by 9%.
20. Stellantis receives larger subsidies for a battery facility in Canada.
21. Fears of a U.S.-China trade war cause rare earth stock prices to rise.
22. Oil falls as concerns about China’s consumption balance a tighter supply outlook.
23. Fears over China’s demand balance tighter supply projections, keeping oil prices stable.
24. The 10-year U.S. Treasury yield reached a four-month high as the currency strengthened against important rivals.
25. After the Fed minutes, Wall Street experiences a slight loss.
26.  After the release of the Fed minutes, the dollar rises on expectations of a rate increase while the yen stays flat.
27. The rapid expansion of ChatGPT indicates the first traffic fall since debut.

GLOBAL NEWS 

1. India’s markets were up at the close of trading, with the Nifty 50 up 0.51%.
2. As rate rise worries increase, European shares decline; Embracer declines.
3. Stocks in Australia fell at the closing of trading; the S&P/ASX 200 fell 1.24%.
4. Japanese stocks fell at the closing of trading; the Nikkei 225 fell 1.70 percent.
5. At its investor event, Coty increases its full-year projection.
6. Beijing’s restrictions on specialty metal exports pose a supply threat to China.
7. Chinese buyers of Hong Kong insurance and dollars are in high demand as confidence and the yuan decline
8. Norwegian Air will pay $106 million to acquire regional rival Wideroe.
9. The broader index in India is off to a flat to negative start, according to GIFT Nifty.
10. Asian markets are trading lower, with the Nikkei down 1% and the Hang Seng down almost 1%.
11. Fears over China’s demand balance tighter supply projections, keeping oil prices stable.
12. Morning Bid Europe: Pressure on markets is maintained by Fed hawks and China concerns
13. Asian stocks decline as Fed minutes support rate hike predictions.
14. As anticipated, Sri Lanka lowers key interest rates amid diminishing inflationary pressures.
15. Amid aggressive Fed policy and tensions with China, stocks decline and US rates rise.
16. RBA raises cash rate to 4.35% in August, experts split on peak: Reuters poll
17. Australian broker Openmarkets fined $3 million for’market integrity’ infractions
18. May Australian exports rise, trade surplus rises.

Economic Data

While factory orders excluding transportation decreased (-0.5%) compared to April (-0.6%) (prev -0.2%) and increased (0.8%) compared to April (-0.6%), factory orders excluding defence increased (+0.8%) vs. consensus (+0.8%). U.S. inventories/shipments ratio in May was 1.49 months’ worth compared to 1.50 months in April.

Global Data

• The American Petroleum Institute said that gasoline stockpiles gained 289K barrels and gasoline inventories rose 1.615M barrels this week, while crude inventories plummeted -4.382M.
•   The bull-bear spread; The AAII’s weekly bull-bear spread was 21.9, up from 14.4 last week. Bulls grow to 46.4% from 41.9%, Neutrals decline to 29.1% from 30.6%, Bears fall to 24.5% from 27.5%.
• In May, Eurozone retail sales flatlined for the second month in a row, missing expectations for a 0.2% increase. May sales fell 2.9% annually.
• In May, Australia’s aggregate goods and services trade surplus grew $1,337m to $11.791B. Consumption imports increased 7.7% and exports rose 4.4%.

Economic Calendar

•      7:00 AM ET                  MBA Mortgage Applications Data
•      7:30 AM ET                  Challenger Layoffs for June
•      8:15 AM ET                  ADP Employment Change for June
•      8:30 AM ET                  Weekly Jobless Claims
•      8:30 AM ET                  Continuing Claims
•      8:30 AM ET                  International Trade Data for May
•      8:45 AM ET                  Fed’s Logan Speaks on Policy Challenges for Central Banks
•      9:45 AM ET                  S&P Global Composite PMI, June -F
•      9:45 AM ET                  S&P Global Services PMI, June-F
•      10:00 AM ET                ISM Non-Manufacturing Index for June
•      10:00 AM ET                JOLTs Job Openings for May
•      10:30 AM ET                Weekly EIA Natural Gas Inventory Data
•      11:00 AM ET                Weekly DOE Inventory Data

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