Dow little changed data awaited US market news May 8th

Today’s main global market news –

1. Yellen’s warning, Buffett talks banking turmoil – what’s moving markets
2. Futures quiet, important inflation data upcoming
3. U.S. bank deposits decline, while lending ticks up in the most recent week.
4. Senate Republicans push for other issues and block a vote solely to raise the US debt ceiling.
5. Shares of BYD, a Chinese company, are sold by Berkshire Hathaway for $58,9 million.
6. Biden wants to strengthen consumer safeguards for US airlines.
7. Biden claims that he is not yet prepared to use the 14th Amendment to prevent a financial default.
8. In the face of high volume, Binance lowers the ban on bitcoin withdrawals.
9. Due to network congestion, Binance has once more suspended Bitcoin withdrawals.
10. Trump won’t give a testimony in a rape and defamation case in New York.
11. Forex reserves in China increased to $3.205 trillion in April.
12. Ex-Yahoo CEO Marissa Mayer acknowledges investing $4 billion on Netflix, which is now worth over $140 billion
13. Gold tepid following nonfarm payrolls shock; inflation data expected
14. Oil prices lag behind U.S. and Chinese economic indications by a small amount.
15. Amazon introduces free channels, Gmail gets checkmarks, and OpenAI makes more money.
16. If Congress does not take action on the debt, Yellen warns of a “constitutional crisis.”
17. Berkshire Hathaway reports a $35.5 billion profit and buys back further shares
18. Buffett said Apple is the finest firm in the Berkshire portfolio.
19. Buffett claims that he feels more at ease making investments in Japan than Taiwan.As North Korea threatens, 
20. ISS recommends Shell shareholders to vote against a proposal from a climate activist
21. The dollar is under pressure as investors wait for US lending statistics.

GLOBAL NEWS 

1. China’s exports were up in April, albeit at a slower rate, and the prognosis was difficult.
2. Chinese search Thailand for homes in an effort to reduce hazards following the outbreak.
3. Asian equities rise before Chinese and American inflation data
4. Right-wing parties prevail in Chile’s referendum to draw a new constitution.
5. Oil prices lag behind U.S. and Chinese economic indications by a small amount.
6. Asian stocks mostly up; attention on US bank data
7. Asia markets rise slightly as a U.S. inflation test approaches.
8. Third day of fire at Shell Texas chemical facility
9. Analysis: Domestic and international competition for China’s electric SUV market intensifies
10. Inflation overshoot risk was discussed by the Bank of Japan in March.
11. The Australian government has committed $10 billion to lowering living expenses.
12. Investor sentiment in the Eurozone surprisingly declines in May
13. German manufacturing declines, and recession worries increase
14. New Zealand’s rapid immigration runs the risk of fueling inflation and driving up rates.Little move in Dow futures as earnings and inflation come into focus
15. Japan’s Prime Minister Kishida travels to Seoul to build deeper ties.

Economic Calendar

Monday May 8th

10:00 AM ET                Wholesale inventories M/M for March

Other Important Events

• Data Centre World 2023, 5/8–5/11 in ATX
• 3rd Annual Housing Ecosystem Conference of BTIG, May 8–May 9, New York
• 18th Annual Industrial Growth Conference, Oppenheimer, May 8–10 (virtual)
• Washington, DC, May 8–May 9, Raymond James 7th Annual Lodging Tour
• April China Imports and Exports

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