Dow futures up 80 points, U.S. market news Aug 22

Dow futures

Dow Futures up 80 points, S&P 500 Futures 20 points, and Nasdaq 100 Futures 87 points by 06:30 ET (10:30 GMT).

1. What’s moving markets? Arm files for an IPO, Microsoft changes its Activision deal.
2. Dow futures are up after Lowe’s reports additional retail profits.
3. Lowe’s reports a drop in net sales due to lower demand for non-essential items.
4. Microsoft revises Activision agreement in bid to obtain regulatory approval in the United Kingdom
5. Coty expects lower annual profit as products and labor prices rise.
6. Nvidia stock rises as the AI surge raises anticipation for another solid revenue prediction.
7. Getir, a food delivery business, will lay off 11% of its workforce as part of a global restructure.
8. Baidu reports record Q2 earnings, with revenues up 15%, and increases its AI bets.
9. Slower dealmaking and mortgage growth are putting strain on Canadian banks’ earnings.
10. Dow futures fall, but Zoom rises 4% after earnings. 
11. The dollar falls somewhat, and Powell’s remarks in Jackson Hole is considered as crucial. 
12. Meta, the owner of Facebook, has petitioned a Norwegian court to stay a privacy penalties. 
13. SoftBank gains as Arm files for a Nasdaq IPO. 
14. The dollar’s luster diminishes as risk appetite returns for the time being. 
15. S&P downgrades several US banks due to ‘difficult’ operating conditions. 
16. The lawsuit alleging that the Apple Watch sensor exhibits ‘racist bias’ has been dismissed. 
17. Nvidia earnings will be a big litmus test for AI demand and the market rise. 
18. Dow Jones, Nasdaq, and S&P 500 Weekly Predictions: Nvidia and Powell 
19. The National Highway Traffic Safety Administration is investigating a 2022 Ford Mach-E EV recall. 
20. The number of daily active users on Meta’s Threads has dropped below 10 million, according to the Wall Street Journal. 

GLOBAL NEWS 

1. Asia’s foreign exchange rates rise as the dollar falls and the yuan benefits from intervention. 
2. European markets are rising, with the technology sector leading the way. 
3. Pressure to stimulate the economy clouds the prognosis for China’s biggest banks’ earnings.
4. UK industry output falls at the fastest rate in over three years, according to the CBI.
5. Global markets continue to rise, as US rates reach fresh highs.
6. After raiding Mintz’s Beijing office, China fined the firm $1.5 million for ‘unapproved’ activity.
7. Higher mortgage rates in the United Kingdom reduce property affordability: Halifax
8. Pakistan’s currency falls to a new low when import restrictions are relaxed.
9. In June, the eurozone’s current account surplus increased. 
10. Asia’s markets end their losing skid, but yields reach new highs. 
11. Telenor recruits Amol Phadke from Google Cloud as CTO as part of its AI effort. 
12. Taiwan is not contemplating any additional risk controls for China property exposure, according to sources. 
13. The Abu Dhabi wealth fund invests another $450 million in an Australian private credit fund. 
14. According to new funding sources, China’s OrienSpace could be valued at $823 million. 
15. Asian markets increase as the strength of the technology sector helps to counter concerns about US interest rates. 
16. Newmont receives regulatory approval in Australia for the $16.8 billion Newcrest transaction. 
17. Shippers rely on green methanol to reduce emissions, but availability is limited. 
18. BHP’s FY profit falls as China’s metal demand dries up, and shares fall. 
19. A week has been added to the strike at South32’s Appin mine. 
20. Coles’ annual profit in Australia falls short of expectations; shares fall 
21. According to a Reuters poll, the Bank of Korea is expected to keep interest rates on quo for the remainder of the year before cutting them early in 2024. 

Global Economic data

•  North Korea said it will launch a satellite in the period from Aug. 24 to 31 into the Yellow Sea and East China Sea, NHK public television said, quoting the Japanese Coast Guard.

Economic Calendar

7:45 AM                    ICSC Weekly Retail Sales 

 8:55 AM                   Johnson/Redbook Weekly Sales 

10:00 AM                 Existing Home Sales M/M for July 

10:00 AM                 Richmond Fed Manufacturing for August 

4:30 PM                     API Weekly Inventory Data 

Other Key Events:

 DA Davidson Western Bank Summit (virtual), 8/21-8/22 

 Mizuho U.S. Investor Tour, 8/22-8/23 

Needham 4th Annual Semiconductor & Semi Cap Conference (virtual), 8/22-8/23 

Rosenblatt Technology Summit (virtual) “The Age of AI”, 8/22-8/24 

Seaport Global 12th Annual Summer Investor Conference (virtual), 8/22-8/23 

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