Dow futures up 10 points, U.S. market news Aug 16

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

1. What’s moving markets: Target to report, VinFast’s market launch
2. Futures prices rise as attention switches to Fed meeting minutes.
3. Tesla lowers Model S and X costs in China by more than 6%.
4. Tesla has reduced its prices in China for the second time in three days, as price war fears grow.
5. Tower Semiconductor drops 11% as Intel cancels a $5.4 billion acquisition.
6. Fed meeting minutes may indicate the end of rate rises.
7. Oil prices remain stable as China’s concerns offset tighter US supply predictions.
8. Coinbase receives clearance to offer cryptocurrency futures in the United States; shares climb
9. Higher-for-longer interest-rate regime puts pressure on US recession trades
10. Dollar falls ahead of Fed minutes; sterling rises despite CPI drop
11. Target increases by 9% due to better-than-expected results and guidance
12. Futures prices continue to fall on July retail sales data.
13. In July, Canada’s inflation rate rises, but food prices fall.
14. In July, retail sales in the United States increased more than predicted.
15. Fisker signs an agreement with Tesla to implement NACS by 2025.
16. Morgan Stanley is optimistic as Ford proposes a joint venture in China.
17. Bank equities in the United States fell after Fitch issued a downgrade warning.
18. Earnings were down by $0.02, but revenue exceeded expectations.
19. Amazon propels US retail sales forward in July.
20. Homebuilder confidence in the United States decreases for the first time in 2023.
21. Import prices in the United States rose in July, although the trend remains weak.
22. Foxconn sees a chance to invest billions of dollars in India.

GLOBAL NEWS 

1. The Nifty 50 is up 0.16% at the closing of trade in India.
2. Japan’s markets are lower at the close of business, with the Nikkei 225 down 1.39%.
3. At the close of business in Australia, the S&P/ASX 200 was down 1.50%.
4. European stocks recover as insurers shine and yields fall.
5. European equities rise, aided by a dramatic reduction in UK inflation statistics.
6. Chinese investors are concerned about Zhongrong Trust’s missing payments.
7. JD.com of China outperforms revenue forecasts thanks to lower-priced product sales.
8. Global equities fall as a result of China data, while European stocks recoup some ground.
9. Sources say Alibaba’s DingTalk will break from the Cloud business group.
10. Asian markets are falling due to concerns about China and a rate hike in the United States.
11. Fears of a rate hike in the United States have weakened Asia’s currency, and China is gloomy.
12. Woodside and unions continue to disagree over salaries at Australia’s largest LNG facility.
13. Oil prices fall as China’s gloom outweighs a significant drop in US inventories.
14. Gold is on the verge of falling below $1,900, while copper is being weighed down by China’s troubles.
15. Cathay Pacific receives around $38 million in dividend payments on preference shares.
16. The yield spread between China and the United States has widened to its widest since 2007, following a surprise rate decrease.
17. According to Goldman Sachs, hedge funds sold Chinese stocks in August.
18. According to insiders, Intel would abandon the $5.4 billion Tower transaction due to a delay in the China assessment.
19. Thai economy expands as policy rate approaches stability – central bank minutes
20. The New Zealand Central Bank maintains its interest rate at 5.5%, citing sticky inflation.
21. In July, Nigerian inflation reached an 18-year high as the consequences of reform lingered.
22. In July, Canadian inflation rose, heightening the probability of another rate hike.
23. The CEO of Esmark claims to have funds in his bank account for the $7.8 billion US Steel proposal.
24. 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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For details

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