Dow futures down 20 points, U.S. market news July 25

Dow Futures contract was down 20 points, or 0.1%, at 06:30 ET (10:30 GMT), while S&P 500 Futures up 3 points, or 0.1%, and Nasdaq 100 Futures rose 44 points, or 0.3%.

Today’s main U.S. market news-

1. What’s moving markets: Microsoft and Alphabet results, a Fed decision on the horizon
2. Dow futures are slightly lower; Microsoft. Alphabet’s results are being scrutinised.
3. Spotify’s user growth outperforms predictions.
4. Dow reports a lower-than-expected quarterly profit due to lacklustre demand.
5. Earnings at Archer-Daniels-Midland were $0.30 higher than expected, but revenue fell short of expectations.
6. Moody’s earnings were $0.06 more than expected, and revenue exceeded expectations.
7. Biogen’s earnings were $0.24 higher than expected, and revenue exceeded expectations.
8. Verizon’s earnings were $0.04 higher than expected, while revenue fell short of expectations.
9. Kimberly-Clark’s earnings were $0.18 higher than expected, but revenue fell short of expectations.
10. Sherwin-Williams earnings were $0.61 higher than expected, and revenue exceeded expectations.
11. Rtx Corp’s earnings were $0.11 higher than expected, and revenue above expectations.
12. 3M earnings were $0.44 higher than expected, and revenue exceeded expectations.
13. GM prioritises profit over expansion, diverging from Tesla.
14. Earnings at General Electric were $0.22 higher than expected, and revenue exceeded expectations.
15. According to an industry association, the United States would be short 67,000 chip workers by 2030.
16. The S&P 500 surge is showing hallmarks of a bubble, and a selloff is on the way – JPMorgan
17. Jubilant, a Domino’s India franchisee, is losing money as expenditures mount.
18. Liberty Global’s earnings were $0.19 lower than expected, but revenue exceeded expectations.
19. Oil prices are near three-month highs.
20. Canada unveils a plan to phase out inefficient fossil fuel subsidies.
21. A judge determines that Starbucks illegally dismissed a NYC supervisor because of union actions.
22. Cadence raises its full-year guidance, but shares fall on the short-term outlook.
23. The Twitter blue bird has taken flight, as Musk claims the X logo has arrived.
24. Foxconn will acquire a 50% share in ZF’s axle system unit.

GLOBAL NEWS 

1. Japan’s markets are lower at the close of business, with the Nikkei 225 down 0.13%.
2. At the closing of trade, Indian markets were neutral; the Nifty 50 was up 0.04%.
3. Australia’s markets closed higher, with the S&P/ASX 200 up 0.46%.
4. Asian equities are quiet as the Fed approaches, but China is rallying on stimulus ideas.
5. A London court has reinstated a $3.5 billion bulk FX lawsuit against banks.
6. The decline in UK industrial orders eased in July, according to the CBI.
7. Oil prices surge as supply is limited and China’s stimulus balances Fed concerns.
8. Unilever’s quarterly sales exceeded expectations as prices rose.
9. Wesfarmers, based in Australia, plans to merge discount retailers Kmart and Target.
10. Thales, a French corporation, will purchase US Imperva for $3.6 billion.
11. TSMC will invest $2.9 billion in a Taiwanese advanced chip facility as a result of the AI growth.
12. Apple is facing a $1 billion UK lawsuit from app developers over app store fees.
13. Property stocks in China have risen after Beijing pledged economic help.
14. Gold falls further on the eve of the Fed announcement, while copper soars.
15. If necessary, the Philippine central bank is prepared to resume policy tightening.
16. The euro falls as markets are apprehensive of the ECB’s hawkish stance; the dollar rises.
17. South Korea’s second-quarter GDP accelerates, but weakness clouds the forecast.
18. Toyota’s China venture fires some manufacturing workers as sales plummet –
19. European equities rise to a five-week high, but Spain trails due to election fears.
20. India rejects $1 billion BYD request due to security concerns’

Economic data

 U.S. S&P Global July flash services PMI at 52.4 (vs 54.4 in June).

 U.S. S&P Global July flash composite PMI at 52.0 (vs 53.2 in June).

 S&P Global July flash manufacturing PMI at 49.0 (vs 46.3 in June).

Economic Calendar

•    7:45 AM ET                  ICSC Weekly Retail Sales
•      8:55 AM ET                  Johnson/Redbook Weekly Sales
•      9:00 AM ET                  Monthly Home Prices M/M for May
•      9:00 AM ET                  CaseShiller 20-City M/M for May
•      10:00 AM ET                Consumer Confidence for July
•      10:00 AM ET                Richmond Fed Manufacturing for July
•      1:00 PM ET                   US Treasury to sell $43B in 5-year notes.
•      4:30 PM ET                   API Weekly Inventory Data

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