Dow futures contract was up 10 points, or 0.1%, around 06:30 ET (10:30 GMT), the S&P 500 futures contract was up 2 points, or 0.1%, and the Nasdaq 100 futures contract was up 23 points, or 0.2%.
U.S NEWS
- What’s moving markets: Target to report, VinFast’s market launch
- Futures prices rise as attention switches to Fed meeting minutes.
- Tesla lowers Model S and X costs in China by more than 6%.
- Tesla has reduced its prices in China for the second time in three days, as price war fears grow.
- Tower Semiconductor drops 11% as Intel cancels a $5.4 billion acquisition.
- Fed meeting minutes may indicate the end of rate rises.
- Oil prices remain stable as China’s concerns offset tighter US supply predictions.
- Coinbase receives clearance to offer cryptocurrency futures in the United States; shares climb
- Higher-for-longer interest-rate regime puts pressure on US recession trades
- Dollar falls ahead of Fed minutes; sterling rises despite CPI drop
- Target increases by 9% due to better-than-expected results and guidance
- Futures prices continue to fall on July retail sales data.
- In July, Canada’s inflation rate rises, but food prices fall.
- In July, retail sales in the United States increased more than predicted.
- Fisker signs an agreement with Tesla to implement NACS by 2025.
- Morgan Stanley is optimistic as Ford proposes a joint venture in China.
- Bank equities in the United States fell after Fitch issued a downgrade warning.
- Earnings were down by $0.02, but revenue exceeded expectations.
- Amazon propels US retail sales forward in July.
- Homebuilder confidence in the United States decreases for the first time in 2023.
- Import prices in the United States rose in July, although the trend remains weak.
- Foxconn sees a chance to invest billions of dollars in India.
GLOBAL NEWS
- The Nifty 50 is up 0.16% at the closing of trade in India.
- Japan’s markets are lower at the close of business, with the Nikkei 225 down 1.39%.
- At the close of business in Australia, the S&P/ASX 200 was down 1.50%.
- European stocks recover as insurers shine and yields fall.
- European equities rise, aided by a dramatic reduction in UK inflation statistics.
- Chinese investors are concerned about Zhongrong Trust’s missing payments.
- JD.com of China outperforms revenue forecasts thanks to lower-priced product sales.
- Global equities fall as a result of China data, while European stocks recoup some ground.
- Sources say Alibaba’s DingTalk will break from the Cloud business group.
- Asian markets are falling due to concerns about China and a rate hike in the United States.
- Fears of a rate hike in the United States have weakened Asia’s currency, and China is gloomy.
- Woodside and unions continue to disagree over salaries at Australia’s largest LNG facility.
- Oil prices fall as China’s gloom outweighs a significant drop in US inventories.
- Gold is on the verge of falling below $1,900, while copper is being weighed down by China’s troubles.
- Cathay Pacific receives around $38 million in dividend payments on preference shares.
- The yield spread between China and the United States has widened to its widest since 2007, following a surprise rate decrease.
- According to Goldman Sachs, hedge funds sold Chinese stocks in August.
- According to insiders, Intel would abandon the $5.4 billion Tower transaction due to a delay in the China assessment.
- Thai economy expands as policy rate approaches stability – central bank minutes
- The New Zealand Central Bank maintains its interest rate at 5.5%, citing sticky inflation.
- In July, Nigerian inflation reached an 18-year high as the consequences of reform lingered.
- In July, Canadian inflation rose, heightening the probability of another rate hike.
- The CEO of Esmark claims to have funds in his bank account for the $7.8 billion US Steel proposal.
- Japan’s officials remain silent as the yen approaches intervention levels.
Economic data
- US Core Retail Sales increased by 1.0% month over month, compared to the forecasted +0.4% and preceding +0.2%.
- US NAHB Housing Market Index 50, compared to expected 56 and prior 56. This is the first drop in seven months, and the lowest level since May. Current single-family sales and sales over the next six months were both down for the period.
- NY Fed Manufacturing -19 versus -1.0 expected and +1.1 previously.
- US Import Prices +0.4% mo/mo versus +0.2% anticipated and -0.2% previously.
- US export prices increased by 0.7% month on month, compared to an anticipated increase of 0.2% and a decrease of 0.9% the prior month.
Global Economic Data
- U.S. June net overall capital flow +$147.8B vs -$161.6B in May (previous -167.6 bln); U.S. June net long-term flow (ex-swaps/other) +$195.9B vs. $23.6 bln in May; China’s U.S. Treasury securities holdings $835B in June vs 847 bln in May.
Economic Calendar
7:00 AM MBA Mortgage Applications Data
8:30 AM Housing Starts M/M for July
8:30 AM Building Permits M/M for July
9:15 AM Industrial Production M/M for July
9:15 AM Capacity Utilisation for July
10:30 AM Weekly DOE Inventory Data
2:00 PM FOMC Meeting Minutes from July 26 meeting
Other Key Events:
Other Key Events:
Deutsche Bank 2023 Transportation Conference, 8/15-8/16, in New York
Sidoti Micro-Cap Conference (virtual), 8/16-8/17
Stephens Super Regional Bank Field Trip, 8/16-8/17
Stifel Biotech Executive Summer Summit, 8/14-8/16, in Newport, RI
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