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North American Morning Briefing: China Trouble Hits Sentiment
Market Wraps Watch For: Canada Industrial Product Prices for July; Earnings from Deere, Estée Lauder, Palo Alto Networks Today’s Top Headlines/Must Reads: – Investors Fear China’s ‘Lehman Moment’ Is Looming – Is China’s Data Manipulated, or Flawed? Maybe Both – China Evergrande Seeks U.S. Court Approval for $19 Billion Debt Restructuring – Hawaii Fires Turn…
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US Futures Up, European Stocks Down
In the U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average increased 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 declined 0.4% in morning trading. Samhaellsbyggnadsbolaget rose 3.3% and Scatec added 3.2%. On the other hand,…
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Top Company News of the Day: Evergrande, Starboard, Ross Stores, Applied Materials, Yellow
China Evergrande Seeks U.S. Court Approval for $19 Billion Debt Restructuring The company clinched a restructuring deal with a group of its foreign bondholders this spring and is seeking court approval for a global deal. Outback Steakhouse Owner Draws Activist Investor Starboard has built a stake of more than 5% in Bloomin’ Brands, making it…
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U.S. Stocks Tumble For 3rd Straight Day As Bond Yields Rise
U.S. stocks fell on Thursday, extending recent losses, amid concerns the Federal Reserve will hold interest rates higher for longer to control inflation. Stocks opened slightly higher, but retreated soon and then spent the rest of the day’s session in the red. The major averages all ended in the red, with the Nasdaq suffering a…
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Crypto This Thursday: Bitcoin Under 28K, Troubled Shibarium Launch, and More
Pressure on cryptocurrencies On Thursday, cryptocurrencies took a hit due to renewed concerns about the US economy. This drop occurred after the release of records from the last Federal Reserve meeting, where the body expressed concerns about inflation and possible interest rate hikes. As a result, the stock market has slumped and the 10-year US Treasury yield…
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Bargain Hunting May Contribute To Initial Strength On Wall Street
US Market The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to move back to the upside after moving notably lower over the two previous sessions. Bargain hunting may contribute to initial strength on Wall Street, as recent weakness has dragged the Nasdaq and S&P 500 down…
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Thursday’s Wall Street Highlights: Walmart, Paramount, Visa, Wolfspeed, and more
US index futures were higher in premarket trading on Thursday as investors reflected on the Federal Reserve minutes released yesterday, in which members did not rule out further tightening to curb inflation. By 6:45 AM, Dow Jones futures (DOWI:DJI) were up 63 points, or 0.18%. S&P 500 futures were up 0.16% and Nasdaq-100 futures were up…
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North American Morning Briefing: Treasury Yields Keep Pushing Higher
Market Wraps Watch For: Leading Indicators for July; Weekly Jobless Claims; Earnings from Walmart Today’s Top Headlines/Must Reads: – China Demands U.S. Lift Steel, Aluminum Tariffs After WTO Ruling – In China, Bidding Wars for Lithium Top Out at 1,300 Times the Starting Price – Alphabet’s Verily Plans Cost Cuts Amid Pressure on Other Bets…
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US Futures Up, European Stocks Fall Amid Concerns Over Further Fed Hikes
In the U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average increased 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 declined 0.5% in morning trading. Koninklijke Philips added 3.8% and alstria office REIT rose 3%. On…
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Top Company News of the Day: BAE Systems, Evergrande, Lenovo, Alphabet, Paramount
BAE Systems Targets Ball Unit in U.S. Expansion BAE Systems has agreed to buy Ball’s aerospace business for $5.6 billion in cash and targeted closing the deal in the first half of 2024. China Evergrande’s Losses Sharply Narrowed in 2022 UPDATED: China Evergrande Group, the world’s most indebted developer, narrowed its losses significantly in 2022…