Dow futures are up 70 points, U.S. market news July 14th

Dow Futures contract was up 70 points, or 0.2%, at 06:45 ET (10:45 GMT), while the S&P 500 Futures contract was down 1 point, and the Nasdaq 100 Futures contract was down 8 points, or 0.1%.

Today’s main U.S. market news-

1. Dow futures rise, with bank earnings in the spotlight.
2. Bank results and the new Microsoft-Activision deal – what’s influencing markets?
3. After good JPMorgan and Wells Fargo reports, the S&P and Dow futures are up.
4. Dollar close to 15-month low as rate peak bets are fueled by weakening U.S. inflation
5. After record deliveries, Tesla’s Shanghai plant employees are happy with their incentive increases.
6. Wells Fargo’s earnings increase as more clients pay interest.
7. Assets under management at BlackRock increased 11% yearly in Q2
8. After a rally fueled by inflation data, global markets reached fresh highs for 2023.
9. The dollar is rising, but it is on track to have its worst week in eight months.
10. Wells Fargo&Co’s earnings were $0.07 more than expected, and revenue exceeded expectations.
11. JPMorgan’s earnings were $0.41 more than expected, and revenue exceeded expectations.
12. As more investors flock to BlackRock funds, the company’s quarterly earnings grow.
13. In the second quarter, BlackRock’s assets under management increased 11% year on year.
14. UnitedHealth exceeds quarterly profit projections because of lower-than-expected expenditures.
15. The Dow Jones Industrial Average was up 0.14% at the closing of trading in the United States.
16. Wall Street finishes up and extends recent gains due to lowering US inflation.
17. Oil is expected to rise for the third week in a row due to scarcity.
18. Coinbase tops cryptocurrency stock gains following Ripple Labs’ court triumph.
19. Cooler inflation keeps stocks rising while the dollar and rates fall.
20. Twitter will split ad revenue with certain content providers.
21. Canada’s CPKC has signed an agreement to investigate a passenger rail project in Mexico.
22. Elon Musk established xAI to compete with OpenAI.
23. Semafor is set to publish Goldman Sachs’ lowest quarterly earnings in years.
24. Wall Street finishes up and extends recent gains as US inflation slows.
25. Producer inflation in the United States has been subdued; the labor market remains tight.
26. Producer inflation in the United States has been subdued; the labor market remains tight.
27. Gold reaches a one-month high as Fed rate rise fears fade, while the dollar falls.
28. The dollar is at a 15-month low as falling inflation dampens rate-hike expectations.

GLOBAL NEWS 

1. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.09%.
2. Australia’s stocks are higher at the close of trade, with the S&P/ASX 200 up 0.78%.
3. The Nifty 50 is up 0.78% at the closing of trade in India.
4. Tucker Carlson is launching a new media company, according to the Wall Street Journal.
5. Volkswagen H1 deliveries are increasing in all regions except China.
6. Nokia and Ericsson share prices fall as quarterly sales stall.
7. Tesla has begun selling its less expensive Model Y automobile in South Korea.
8.  Asian markets are trading higher, with the Kospi up 1%, the Hang Seng up 0.5%, and Taiwan up 0.5%.
9. Oil prices are rising due to tighter supplies and decreasing US inflation.
10. Gold reaches a one-month high as Fed rate rise fears fade, while the dollar falls.
11. The dollar is at a 15-month low as falling inflation dampens rate-hike expectations.
12. The GIFT Nifty indicates a flat opening for India’s broader market.
13. The dollar is rising, but it is on track to have its worst week in eight months.
14. Oil prices hit a 10-week high due to restricted supplies and weak US inflation.
15. Gold prices are reaching a one-month high as investors reconsider US rate hikes.
16. Ericsson’s quarterly operating profit falls but still exceeds estimates.
17. Nokia issues a Q2 warning and lowers its full-year earnings forecast.
18. Cathay Pacific anticipates a first-half profit of up to $576 million as demand surges.
19. Asia’s equities are likely to have their greatest week since 2023, while the dollar is reeling from dovish Fed wagers.

ECONOMIC DATA

•  The Producer Price Index (PPI)  June M/M final demand Producer Price Index (PPI) climbed +0.1% vs. est. +0.2% and Y/Y rose +0.1% vs. est. +0.4% (down from prior +1.1%). June core PPI ex food & energy up +0.1% M/M vs. est. +0.2% and +2.4% Y/Y vs. est. +2.6% (previous was +2.8%).
•  Weekly Jobless Claims declined to 237K from 249K and vs. est. 250K; the 4-week moving average fell to 246,750 from 253,500; continuing claims rose to 1.729M from 1.718 mn; and the US insured unemployment rate remained at 1.2%.

GLOBAL ECONOMIC DATA

Goldman strategists warn surging equities face lingering risks; they remain neutral on stocks; upgrade bonds and cut commodities; say slowing global growth could hit earnings revisions in 2H – Bloomberg reports

Economic Calendar

•      8:30 AM ET                  Import Prices M/M for June
•      8:30 AM ET                  Export Prices M/M for June
•      10:00 AM ET                University of Michigan Confidence, July-P
•      10:00 AM ET                UoM 1year and 5-year inflation expectations, July-P
•      1:00 PM ET                 Baker Hughes Weekly rig count data 

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