Dow futures slips 135 pionts, U.S. market news July 5th

The Dow futures contract was down 135 points, or 0.4%, the S&P 500 futures were down 18 points, or 0.4%, and the Nasdaq 100 futures were down 75 points, or 0.5%, as of 06:50 ET (10:50 GMT).

Today’s main U.S. market news-

1. Dow futures decline; prudence is advised in light of Fed minutes and factory orders
2. Futures on Wall Street decline as Fed minutes approach
3. What’s driving markets: U.S. stock futures slide down; Fed minutes loom.
4. Quebecor will stop running advertisements on Facebook and Instagram.
5. Deadlocked contract negotiations between UPS and the Teamsters union
6. According to Nikola, second-quarter deliveries increased.
7. To develop mRNA therapies, Moderna will invest $1 billion in China, according to reports.
8. Following the first deliveries of Amazon vans to Europe, Rivian shares increase.
9. UPS falters after failed negotiations with Teamsters on a new labor agreement
10. In a $364 million deal, Duke Energy will sell its commercial distributed generating business.
11. Callon Petroleum completes the Delaware Basin acquisition and pays off $300 million in debt
12. After assessment, Meta Platforms may be liable for $925 million in Italian taxes.
13. In India, HSBC opens a worldwide private banking branch.
14. Neko, the health-tech business founded by the CEO of Spotify, has raised €60 million.
15. By early 2024, Wedbush predicts Microsoft will become the next $3 trillion firm.
16. Hints on the Fed’s willingness to raise rates in the future in the meeting minutes
17. Since being put to Goldman’s Sell list in 2022, Netflix stock has increased by 135%.
18. Tesla lowers the cost of the Model 3 and Y in Japan.
19. The CEO of Twitter supports the heavily criticised tweet reading rate limits

GLOBAL NEWS 

1. S&P/ASX 200 was up 0.45% at market close, with Australian stocks up.
2. At the closing of trading, German stocks were mixed; the DAX fell 0.26 percent.
3. The Brazilian industrial complex will receive $620 million from Chinese manufacturer BYD.
4. Chinese problems hurt Asian stocks as the Fed meeting minutes near.
5. Euro zone business activity declines in June, according to PMI
6. Ahead of the Fed minutes, Asia FX declines, while the dollar gains
7. Caixin PMI reports that service sector activity in China slowed in June.
8. Peugeot e-208 manufacture not being moved to France, according to Stellantis CEO
9. The highest yield of any gilt sold this century was offered by Britain on Wednesday when it sold a government bond at auction. 
10. Russia’s car sales increased by 151.8% year over year in June, and a $77 billion 
11. Australian pension fund stopped Autostat PwC’s work.
12. As Fed minutes approach and China-U.S. tensions grow, the oil rally pauses.
13. Copper is muted on China’s problems while gold goes higher ahead of Fed minutes.
14. Focus is on the Nifty50 Rejig as LTIMindtree Replaces HDFC and Inflow Size is Plotted
15. June saw a slowdown in Philippine inflation, which supports an extended rate freeze.
16. Australia’s markets are in the dark as the government’s choice for the RBA chief is approaching.
17. As demand increases, Japan’s service sector keeps a steady pace, according to the PMI
18. Bank of England thinks about cracking down on overseas bank branches—FT
19. Report: In June, the cost of cyber insurance decreased by 10%.
20. Stocks sway as investors weigh their expectations for peak rates against the rising cost of oil
21. At the closing of trading, Saudi Arabian equities were up, with Tadawul All Share up 0.64%.
22. In June, industry activity in Canada slowed even more.
23. As the budget deficit widens in Q1, Italy’s finances sputter.
24. June 2023 rate hike activity will increase due to central bank surprises.

Global Data

• The Reserve Bank of Australia (RBA) maintained interest rates at 4.1% while stating that additional tightening of monetary policy may be necessary as it remains steadfastly committed to bringing inflation back to target. The bank stated that any tightening will depend on how the economy and inflation develop and that inflation is still too high and will stay that way for a while.
• Services provided by China Caixin PMI was at 53.9, below expectations of 56.2 and 57.1, its lowest level in six months and since January.

Economic Calendar

•      8:55 AM                 Johnson/Redbook Weekly Sales
•      10:00 AM                Durable Goods Orders M/M for May
•      10:00 AM                Factory Orders M/M for May
•      2:00 PM                   FOMC Meeting Minutes from June 14 meeting
•      4:00 PM                   Fed’s Williams Speaks at Central Bank Research Association Mtg
•      4:30 PM                   API Weekly Inventory Data

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