Epic prevails in Google antitrust lawsuit, U.S. market news Dec 12

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Dow Futures

Dow futures contract had risen 61 points (0.2%), the S&P 500 futures had risen 3 points (0.1%), and the Nasdaq 100 futures had risen 29 points (0.2%).

1. Inflation data ahead, Fed decision looms huge – what’s pushing markets
2. U.S. futures stable ahead of November inflation report
3. US small business morale decreases marginally, NFIB reports
4. Mega-cap growth trade needs a break – RBC
5. Futures move higher with all attention on inflation data
6. Netflix could edge past Disney+ in US advertising revenue in 2024 – report
7. Alphabet drops as Google loses antitrust action against Fortnite’s producer Epic
8. JPMorgan believes Apple urged suppliers to make fewer iPhone 15s over the next months
9. Pfizer obtains OK for $43-billion Seagen acquisition after giving cancer drug rights
10. Warren Buffett’s Berkshire Hathaway reduces stake in HP
11. Illumina blasts EU for over-extending ability to examine Grail deal
12. Roth MKM sees ‘substantial turnaround’ possibilities in Hasbro after fresh job layoffs
13. Workers at certain non-union automakers file unfair labor practice allegations in US
14. Uber and Carrefour Énergies cooperate on EV recharge spots
15. Puma will stop sponsoring Israel’s national football team next year.
16. WHSP increases its holding in Perpetual, an Australian fund manager.
17. The launch of the US military’s stealthy X-37B spaceplane has been postponed by SpaceX.
18. Boeing further reduces its strategy as operations take center stage -sources
19. The United States anticipates awarding multi-billion dollar chips within the next year.
20. Puma will no longer sponsor Israel’s national football team – FT
21. Epic Games prevails in its antitrust fight against Google over the Play app store.
22. Oracle’s Income Highlights are missing. Cloud Computing Difficulties
23. Ford plans to reduce F-150 Lightning manufacturing by 50% by 2024.
24. Hasbro announces further job layoffs, and its stock drops 4%.
25. A consumer organization in the United States wants greater warnings about Botox and comparable procedures.
26. Sources say JPMorgan will outsource its $500 billion custody operations in Hong Kong, Taiwan.
27. Disney and Reliance are negotiating the details of an India media operations merger – ET

GLOBAL NEWS 

1. Australia’s equities are up at the conclusion of trade, with the S&P/ASX 200 up 0.50%.
2. Japan’s markets are up at the conclusion of trade, with the Nikkei 225 up 0.10%.
3. The Nifty 50 is down 0.43% after the closing of trade in India.
4. Nokia gains on mid-term outlook update following AT&T blowoutFor the fourth consecutive meeting,
5. Pakistan’s central bank maintains the benchmark rate at 22%.
6. In November, retail inflation in India increased to 5.55%.
7. European stocks rise ahead of US inflation data, as the UK’s FTSE outperforms.
8. The unemployment rate in the United Kingdom remains constant at 4.2%.
9. Zara apologizes for a’misunderstanding’ over a photoshoot after demands for a boycott of Gaza.
10. Pay growth in the UK has slowed, but the Bank of England appears to be sticking to its rate policy.
11. In a smartphone patent dispute, Xiaomi accused a Huawei executive of distorting facts.
12. Xi Jinping of China arrives in Vietnam for a two-day visit to deepen ties.
13. After a settlement, China’s Country Garden may avert a yuan bond default – Bloomberg News
14. Asian equities rise as a central bank-heavy week approaches.
15. FX in Asia is subdued, the dollar is stable following CPI data, and the Fed is on the horizon.
16. UK salary growth has slowed, but it is still likely to be too high for the Bank of England.
17. Yemen’s Houthis claim responsibility for an attack on a Norwegian ship.
18. Nokia reduces its profit margin target for 2026 and wins a contract with Deutsche Telekom.
19. Japan’s Prime Minister backs the minister at the center of suspicions of a fundraising scam.
20. Wanda has reached an arrangement with pre-IPO investors to remain in place – statement
21. South Korean auto battery makers compete with Chinese rivals, but with caution.
22. Japan’s wholesale inflation drops dramatically in November as cost constraints relax.
23. Survey finds that UK corporations are delaying China investment choices as growth slows.
24. Indonesia said it will evaluate TikTok and Tokopedia’s pilot e-commerce partnership.
25. Disney and Reliance are negotiating the details of an India media operations merger – ET
26. Survey finds that UK corporations are delaying China investment choices as growth slows.
27. Before US inflation, UK labor data gets the stage.
28. According to the UN, Myanmar is currently the world’s leading producer of opium.

Economic Data

November one-year ahead inflation is predicted to be 3.4%, down from 3.6% in October, and the lowest since April 2021. The November three-year ahead inflation forecast remained maintained at 3%, while the November five-year ahead forecast remained constant at 2.7%. In November, Fed survey respondents’ opinions on the job market were divided.

World News

Economic Calendar

8:30 AM   Consumer Price Index (CPI) Headline Year on Year (Y/Y) for November
8:30 AM November CPI Ex: Food & Energy (core) M/M
8:30 AM          November CPI Ex: Food & Energy (core) YoY
8:55 AM                 Johnson/Redbook Weekly Sales
11:00 a.m.                Cleveland Fed Consumer Price Index for November
2:00 PM Federal Budget for November
4:30 PM                    API Weekly Inventory Data

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DA Davidson East Coast Bank Summit, 12/12-12/13 (virtual)
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Piper Indiana Bank Tour, 12/12-12/13 (virtual)
Truist Texas Bank Summit – CMA, TCBI, HWC, CADE, IBTX, 12/12 in Dallas, TX

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