Dow Futures contract was up 38 points, U.S. market news Dec 29

Dow Futures

Dow Futures

Dow Futures contract was up 38 points, or 0.1%, higher by 06:35 ET (11:35 GMT), while the S&P 500 Futures was up 6 points, or 0.1%, higher and the Nasdaq 100 Futures was up 28 points, or 0.2%.

1. What’s influencing markets: Nvidia’s new chip, Boeing, and rising futures.
2. In 2023, futures continue to rise as firm rate drop bets fuel substantial gains.
3. UnitedHealth consents to sell its Brazilian operations for a record $7 billion.
4. In 2024, American drivers anticipate decreasing pump costs due to rising fuel stocks.
5. A two-month surge of unprecedented magnitude recovers the battered bond ma
6. Jabil shares decline due to a lower estimate.
7. Arcellx: Reports from Gilead Sciences 12.9% of the Company’s shares are passive.
8. Dollar is expected to end its two-year winning run on bets for 2024 rate cuts.
9. Every Boeing 737 MAX that is used in China is now back in operation.
10. In 2024, American drivers anticipate decreasing pump costs due to rising fuel stocks.
11. A two-month surge of unprecedented magnitude recovers the battered bond markets.
12. Dollar is expected to end its two-year winning run on bets for 2024 rate cuts.
13. Mixed global stock indices on 2023’s last trading day.
14. Gujarat is most likely to host Elon Musk’s Tesla’s first manufacturing facility in India.
15. In 2023, cash was supreme, with inflows of $1.3 trillion.
16. The content filtering statute in California is not blocked by Elon Musk’s X.
17. Canada’s CDPQ purchases a 15% share of gas pipeline company TAG from Engie Brasil.
18. Google resolves $5 billion lawsuit about consumer privacy.
19. After filing for bankruptcy, Air Methods owes $1.7 billion less.
20. Boeing recommends checking the 737 MAX for any loose bolts.
21. Boeing recommends checking for any loose bolts on more recent 737 MAX aircraft.
22. The US military’s covert spacecraft took off for a potential higher-orbit mission.

GLOBAL NEWS 

1. India’s stock market closed lower, with the Nifty 50 down 0.22%.
2. Japan’s stock market closed lower; the Nikkei 225 fell 0.45%.
3. Australia’s stock market closed down; the S&P/ASX 200 fell 0.31%.
4. China will reduce the CFETS yuan basket index’s weightings in the dollar and euro in 2024.
5. Special Report: The United States seeks to restrict China’s chip market. This venture indicates that it won’t be simple.
6. Financial advisor is hired by LNG developer Tellurian
7. By 2024, Avtovaz, a Russian automaker, plans to produce 500,000 vehicles.
8. Huawei predicts 9% revenue increase in 2023 due to the surge in smartphones.
9. In December, Spain’s inflation rate falls to 3.1%.
10. Foreign investors are pulling out of China’s stock market – FT
11. Alibaba faces an antitrust lawsuit that JD.com wins.
12. In December, Kenya’s inflation rate falls little to 6.6% annually.
13. On the final trading day of the year, European shares surge, aiming for annual gains.
14. Prior to crucial elections, India’s far-right cow vigilantes increase their influence.
15. Asian stocks are expected to end a two-year losing streak due to rate decrease bets.
16. December had the highest growth in Russian manufacturing activity in seven years, according to PMI
17. Russia strikes Ukraine with heavy air power, killing at least ten people – Kiev
18. 2023 GDP growth in Vietnam drops to 5.05% due to a decline in exports.
19. Asian stocks are expected to end a two-year losing streak due to rate decrease bets.
20. In December, Kenya’s inflation rate falls little to 6.6% annually.
21. China’s growing coffee addiction fuels fierce cafe rivalry.
22. $1.3 billion in debt forces Signa Development to file for bankruptcy – KSV.

Economic Data

• Weekly Jobless Claims climbed to 218,000 from 206K prior week and above the consensus 210K; the 4-week moving average fell to 212,000 from 212,250 prior week (previous 212,000); continued claims climbed to 1.875M (est. 1.875M) from 1.861M prior week (prev 1.865M) and the US unsured unemployment rate climbed to 1.3% from 1.2% prior.
• November Advance Retail Inventories fell (-0.1%) to $794.9B vs -0.1% prior (revised from flat, while on a Y/Y basis, retail inventories grew 5.1% in November. Wholesale Inventories for November (-0.2%) M/M to $895.7B, in-line with consensus and vs. (-0.3%) in October (revised from -0.2%). On a Y/Y basis, wholesale inventories fell (-3.1%).
• International Trade Goods Balance (-$90.3B) vs. (-$88.40B) consensus and (-$89.56B) in October as exports fell to $165.1B vs. $171.3B in October and imports fell to $255.4 vs. $260.9B prior.
• Pending Home sales index for November unchanged, below consensus +1.0% and down (-5.2%) from Nov 2022.

Global news Updates

Russia has launched its biggest missile and drone attack on multiple Ukrainian cities since the start of its full-scale invasion, Financial Times.

Colorado puts Donald Trump back on 2024 GOP primary ballot, while Maine disqualified Donald Trump from the state ballot in next year’s U.S. presidential primary election, becoming the second state to bar the former president.

Economic Calendar

9:45 AM Chicago PMI for December

1:00 PM Baker Hughes Weekly rig count data

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