Dow futures up 65 points, U.S. market news Aug 17

Dow Futures contract was up 65 points, or 0.2%, at 06:20 ET (10:20 GMT), the S&P 500 Futures contract was up 10 points, or 0.2%, and the Nasdaq 100 Futures contract was up 40 points, or 0.3%.

U.S NEWS

1. What’s moving markets? Fed minutes fallout, Walmart on deck
2. Dow futures rise; Walmart and unemployment claims data in focus
3. The dollar is nearing two-month highs following the release of the Fed minutes, while the yen remains sluggish.
4. Oppenheimer lifts its price target on Nvidia stock for the eighth time in August.
5. BTIG cautions that the S&P 500 may fall to 4200 in the next weeks.
6. Wolfspeed falls 13% as accounting changes impact results and outlook.
7. Despite a head start in AI search, Microsoft struggles to gain ground on Google – WSJ
8. The 10-year Treasury yield in the United States has reached its highest level since October, weighing on stocks.
9. Evogene’s profitability exceeded expectations, while revenue fell short.
10. Blue Shield of California is abandoning CVS Health’s Caremark brand – WSJ
11. Tesla will commence mass production of the redesigned Model 3 in China.
12. TikTok is banned on government-owned smartphones in New York City due to security concerns.
13. Stellantis spends more than $100 million in a lithium plant in California.
14. BAE Systems will pay $5.55 billion for Ball’s aerospace business.
15. Nice ADR profits beat by $0.08, and revenue exceeded expectations.
16. Hindenburg wants Freedom Holding to continue operating with unregistered Russians.
17. Wall Street opens down ahead of the Fed minutes; Target increases
18. Fed meeting minutes may indicate the end of rate rises.
19. DLocal Limited gains on earnings beat and names former Mercado Libre CFO as new co-CEO
20. Bank of America is still optimistic about Li Auto’s increasing pipeline.
21. Dow futures rise little, as Cisco gains 2.2% following earnings.
22. Fitch may reconsider China’s A+ rating as the country’s economic woes worsen.
23. Oil prices fell to a two-week low due to concerns about China and the Fed’s aggressive stance.
24. WSJ reports that Paramount has abandoned efforts to sell its interest in BET Media.

GLOBAL NEWS 

1. The Nifty 50 is down 0.51% at the closing of trade in India.
2. At the finish of trading in Australia, the S&P/ASX 200 was down 0.68%.
3. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.61%.
4. European stocks slump on disappointing earnings, while Fed minutes sour sentiment.
5. Embracer’s stock rises as the company maintains its outlook.
6. Eurostat reports that bankruptcies in the EU are at their highest level since 2015.
7. The Eurozone trade surplus expands in June as Russia imports fall.
8. Adyen’s stock has plummeted following an earnings shortfall.
9. Lenovo’s first-quarter revenue falls short of expectations, owing to weak PC demand.
10. European markets fall on hawkish Fed minutes and China’s worries; BAE falls.
11. The Philippines’ central bank holds interest rates constant, but is prepared to continue raises if necessary.
12. Norway’s central bank boosts interest rates to 4.0%, with another hike planned for September.
13. According to papers, Goldman Sachs used derivatives to assist Exor in acquiring a $2.8 billion stake in Philips.
14. BAE Systems acquires Ball Corporation’s aerospace division for around $5.55 billion.
15. Lenovo’s first-quarter revenue falls short of expectations, owing to weak PC demand.
16. With its London launch, Australia’s $100 billion pension fund is targeting private assets.
17. Adyen’s stock fell more than 20% after the company’s earnings were missed.
18. According to a poll, Norwegian oil corporations will increase their investments.
19. Asian stocks fall as Fed jitters hit technology and China worries grow.
20. Japan’s exports have fallen for the first time since 2021, raising concerns about the prospects.
21. Exclusive: China’s major state banks sell dollars for yuan during London and New York hours, according to sources.
22. Asian markets fell to a nine-month low due to concerns about the Chinese economy and US interest rates.
23. Jobs in Australia fell unexpectedly in July as the market loosened.
24. The dollar shines on the strength of the US economy, while the Australian dollar falls following job data.
25. Australian employment falls in July, but unemployment climbs.
26. Telstra Australia abandons its proposal to sell a stake in InfraCo, and its stock falls.
27. According to a Reuters poll, 40% of Japanese corporations see an impact on fundraising as a result of the BOJ change.
28. Colombia’s Grupo Aval reports a 75% drop in earnings as bank margins contract.

Economic data

• July housing starts in the United States increased by 3.9% year on year, compared to an estimate of 1.1% and -11.7% in June. Single-family housing is up 6.7%, while multifamily housing is down 1.7%.
• US industrial production increased by 1.0% month over month, compared to an anticipated increase of 0.3% and a previous decrease of 0.5%. Capacity utilisation was 79.3%, which was about in line with estimates. The annual rate of motor vehicle assembly increased to 11.87 million units in July, up from 10.91 million in June.

Global Economic Data

• The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was 5.8 vs 19.2 last week. Bulls fall to 35.9% from 44.7%, Neutrals rise to 34% from 29.8%, Bears rise to 30.1% from 25.5%.

Economic Calendar

8:30 AM Weekly Jobless Claims…est. 240K
8:30 AM Continuing Claims…est. 1.7M
8:30 AM Philly Fed Business Index for August…est. -10.0
10:00 AM Leading Index Change M/M for July…est. (-0.4%)
10:30 AM Weekly EIA Natural Gas Inventory Data

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