Dow Futures contract was down 160 points, U.S. market news.

Dow Futures

 Dow Futures contract was down 160 points, or 0.4%, the S&P 500 Futures contract was down 4 points, or 0.1%, and the Nasdaq 100 Futures contract was basically flat.

1. US stock futures are lower; inflation data and bank earnings are due.
2. Futures trade down, while Boeing shares fall ahead of the open – what’s driving markets?
3. Boeing shares are falling as the impact from the latest 737 Max disaster continues.
4. Apple shares fall as a new report shows that the iPhone continues to underperform in China.
5. Oil falls as Saudi price cuts offset Middle East concerns.
6. Rate-cut skepticism weighed on futures, while Boeing groundings hurt airline equities.
7. Johnson & Johnson will pay $2 billion for Ambrx.
8. Moderna’s preliminary 2023 COVID vaccination sales have exceeded expectations.
9. Abercrombie & Fitch raises its holiday sales projection due to strong demand.
10. Lululemon lifts fourth-quarter targets in response to consistent holiday demand
11. Regeneron’s early Q4 US Eylea sales were lower than expected.
12. Canadian Solar will provide energy storage systems totaling 220 MWh.
13. According to insiders, Nvidia will debut a China-focused AI processor in Q2 2024.
14. NuScale Power has announced a strategic shift as well as employment layoffs.
15. In comparison to others, BlackRock charges a lower cost for its spot bitcoin ETF.
16. Ironwood anticipates an EBITDA of more than $150 million in 2024.
17. Microsoft and Qcells have reached a huge supply agreement for US-made solar panels.
18. Cruise, a GM robotaxi unit, has offered $75,000 to resolve the crash probe.
19. The UAW has reached a tentative agreement with car parts manufacturer Allison Transmission.
20. Arthur J. Gallagher expands into Germany.
21. Berkshire Hathaway and Pilot have reached an agreement on a valuation.
22. Boeing checks encounter a hitch in the paperwork; US inspectors look for a missing part
23. There was no data captured on the Alaska Airlines 737 cockpit voice recorder, according to the NTSB chair.
24. In the midst of policy disagreements, the United States Congress agrees on a spending cap.
25. Air Transat in Canada has reached a new agreement with the flight attendants’ union.
26. Following an FAA directive, Alaska Airlines cancels more than 200 flights.
27. US investigators discover a critical component from an Alaska Airlines 737 MAX jet.
28. The Vulcan rocket is scheduled to make its debut with the first US lunar lander mission in decades.
29. In the midst of policy disagreements, the United States Congress agrees on a spending cap.
30. Sources indicate that China’s regulators have lifted the stock net-selling ban for mutual funds.
    

GLOBAL NEWS 

1. Australia’s equities are lower at the close of trade, with the S&P/ASX 200 down 0.50%.
2. Japan’s markets are higher at the close of trade, with the Nikkei 225 up 0.27%.
3. Tadawul All Share was down 0.27% at the closing of trade in Saudi Arabia.
4. The Nifty 50 was down 0.91% at the closing of trade in India.
5. Global stock indices fall ahead of inflation data and results from large banks.
6. Asia-Pacific stocks are falling, mirroring global market volatility ahead of US inflation data.
7. In December, Eurozone inflation rose to 2.9% year on year, which was lower than expected.
8. European markets fall with the release of German retail sales data; Eurozone inflation is forecast.
9. Services provided by Canada In December, the PMI rose while the composite fell.
10. Godrej Consumer shares fall on a flat revenue projection for the third quarter.
11. As inflation and earnings loom large, global markets fall into the negative.
12. After Carrefour dropped Pepsico products, France’s Leclerc continued to sell Pepsi.
13. Green ammonia technology will be licensed by KBR for Lotte’s H2biscus project.
14. Shell announces a fourth-quarter impairment charge, pushing its stock down.
15. Merck will pay $680 million for Harpoon Therapeutics.
16. Asian stocks fall as rate-cut predictions fade; a flood of inflation data is on the way.
17. Asian stocks fall as rate-cut predictions fade; a flood of inflation data is on the way.
18. China Evergrande’s EV unit reports detention of vice chairman; stock plummets
19. Thai Prime Minister pushes central bank to lower interest rates due to low inflation.
20. Geely’s Zeekr expects to sell 230,000 EVs in 2024, more than doubling sales in 2023.
21. Japan urges the signing of a debt agreement between Sri Lanka and its creditors as soon as possible.

Economic Data

• Very strong December payroll data across the board.
• The U.S. December Nonfarm payrolls rose +216,000 topping consensus +170,000 and above downwardly revised November +173,000 (from +199,000), and October +105,000 (from +150,000).
• December also marked the 36th consecutive month of jobs growth.
• Factory jobs +6,000 (in-line with consensus of +5,000, but down from +25,000 prior.
• Private Payrolls were +164,000 vs. est. +130,000 and vs. downwardly revised +136,000 (from +150,000).
• The Unemployment rate was 3.7%, in-line with prior but below the expected 3.8% figure (the US Unemployment Rate has now been below 4% for 23 straight months, the longest streak since the late 1960s).
• The participation rate 62.5% (lightest since January 2023) vs 62.8% estimate.
• Average Hourly Earnings rose +0.4% M/m vs. est. +0.3%.
• Total jobs in the US increased 1.7% over the last year, the lowest YoY growth rate since March 2021.
• ISM report on U.S. non-manufacturing sector shows PMI 50.6 in December below consensus 52.6 and prior month 52.7 as prices paid index 57.4 in December vs 58.3 in November; new orders index 52.8 in December vs 55.5 in November and employment index 43.3 in December vs 50.7 in November.
• Factory Orders for November ex-transportation +0.1% vs Oct -1.3%, factory orders ex-defense +3.0% vs Oct -4.0%, nondurables orders were unchanged vs Oct -1.8% and Nov total manufacturing inventories +0.1% vs Oct unchanged.

Global news Updates

Economic Calendar

Employment Trends for December

Fed’s Bostic Speaks on the Economic Outlook

Consumer Credit for November

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Bank America 2024 Software New Year Bus Tour, 1/8-1/10, in San Francisco,

ICR Conference, 1/8-1/10, in Orlando, FL

JP Morgan 42nd Annual Healthcare Conference, 1/7-1/11, in San Francisco, CA

TD Cowen 17th Annual London Energy & Power Conference, 1/8-1/9, in London

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