Dow Futures contract was down 100 points, U.S. market news.

Dow Futures

Dow Futures contract was down 100 points, or 0.3%, the S&P 500 Futures contract was down 13 points, or 0.3%, and the Nasdaq 100 Futures contract was down 75 points, or 0.5%.

1. Futures trade down, as Tesla’s China-made EV sales soar – what’s driving markets?
2. Dow futures fall ahead of the Fed meeting minutes.
3. Treasury rates in the United States are rising as Fed rate reduction forecasts wane.
4. In the coming proxy struggle with Peltz, Disney gets ValueAct backing.
5. Exclusive-Blackwells to nominate board members at Disney, competing with Trian-sources
6. In November, investors withdrew $4 billion from hedge funds, according to Nasdaq eVestment.
7. Citi expects United Airlines shares to gain over the next month as a result of this positive trigger.
8. Saylor of Microstrategy sells $216 million in stock as the price of bitcoin rises.
9. According to customer statistics from BofA, hedge funds will lead stock inflows in 2023.
10. According to UBS, AI revenue will increase from $28 billion in 2022 to $420 billion in 2027.
11. In the coming proxy struggle with Peltz, Disney gets ValueAct backing.
12. SoFi stock drops 5% as its rating is downgraded; experts predict a 30% drop.
13. Auto sales in the United States are expected to increase in 2023; the new year will be hard.
14. Tesla’s China-made EV sales increased by 68.7% year on year in December.
15. The dollar holds onto the previous day’s gains as attention shifts to US data.
16. Foreign money fueled the sell-off of Chinese stocks in December, according to Morgan Stanley.
17. Bailiffs erase Google, Meta, and Tiktok debts from Russian database
18. Transat cabin crew workers in Canada reject a labor agreement, heightening the prospect of a strike.
19. Asian suppliers to Apple Inc. fall following a downgrade by Barclays
20. Tesla breaks records in Q4 sales, but BYD of China takes the top rank among EVs.
21. Over unlawful robocalls, the FTC and XCast Labs agree a settlement.
22. A rush of new year bonds raises almost $29 billion for top-rated US firms.

GLOBAL NEWS 

1. Australia’s stock market closed down; the S&P/ASX 200 fell 1.37%.
2. Japan’s markets are down at the conclusion of trade, with the Nikkei 225 down 0.23%.
3. The Nifty 50 is down 0.69% after the closing of trade in India.
4. European equities are divided, and the risk rally has taken a breather.
5. Mixue and Guming, China’s top bubble tea manufacturers, have applied for a Hong Kong IPO.
6. Japan makes available transcripts of a catastrophic plane crash.
7. AIG, a U.S. insurer, is in charge of the policy for Japan Airlines’ jet, according to sources.
8. Mixue and Guming, China’s top bubble tea manufacturers, have applied for a Hong Kong IPO.
9. Japan has launched two investigations into an unusual Tokyo runway crash.
10. The EU has sanctioned Russia’s largest diamond manufacturer, Alrosa.
11. China claims that trade politicization is unethical and unsustainable.
12. Hyundai Motor and Kia anticipate a 2% increase in vehicle sales in 2024.
13. Ryanair claims that internet travel agencies are removing flights, but it sees no impact on profits.
14. China’s money managers are rushing to set up funds to match the new A50 index.
15. Amid uncertainty regarding early rate reduction, Asian stocks mirror Wall Street’s losses.
16. As markets doubt early rate cuts, Asia FX falls and the dollar rises.
17. Focus is on runway safety as Japan looks into the Tokyo tragedy.
18. December sees a setback for UK industry comeback ambitions, according to PMI
19. Sources: China’s BYD will provide dealers with 2 billion yuan upon meeting sales targets.
20. China dismisses an official after unrest over video game regulations -sources
21. China licenses AllianceBernstein to conduct mutual fund business.

Economic Data

• Construction Spending for November rises +0.4% (11th straight month in a row it rises) vs. consensus +0.6% and vs. October +1.2% (prev +0.6%). Nov private construction spending +0.7%, public spending -0.7%.
• S&P Global Dec. Manufacturing PMI at 47.9 vs 49.4 prior
• China December Manufacturing PMI below expected; 49 vs 49.6 consensus; China December Services PMI slightly below expected; 50.4 vs 50.5 consensus; China Caixin Manufacturing PMI above expectations; 50.8 vs. 50.3 consensus.
• China’s new home prices in December rose 0.1% after rising 0.05% in November making it the fourth straight monthly rise. The value of new home sales among the 100 biggest real estate companies fell 34.6% from a year earlier to 451.3 billion yuan ($64 billion), compared with a 29.6% decline in November.

Global news Updates

None

Economic Calendar

7:00 AM MBA Mortgage Applications Data
8:30 AM Fed’s Barkin speaks about economic outlook.
8:55 AM Johnson/Redbook Weekly Sales
10:00 AM ISM Manufacturing PMI for December
10:00 AM JOLTs Job openings for November
2:00 PM FOMC Meeting Minutes from December 13th meeting
4:30 PM API Weekly Inventory Data

Other Key Events

China Caixin Services PMI for December

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