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On May 10, local time, Russian Presidents Press Secretary Peskov said that Russia is actively developing relations with many countries and will continue to do so. Peskov pointed out that it is very difficult to isolate Russia because Russia occupies a very important position in the world. In addition, Peskov also said that Russian President Putin is willing to engage with leaders of any country in the world, and he is willing to interact to the extent that they are ready to cooperate.On May 10, California Governor Gavin Newsom criticized the U.S. federal government in a video posted on social media. He said that the U.S. governments current tariff policy "may cause the United States to lose its position as the worlds largest economy." In the video, he criticized the U.S. governments tariff policy for blocking U.S. imports and directly affecting the daily lives of ordinary people. "In a few months, people will lack school bags and Christmas toys. Tariffs will make American families even worse." Newsom said that as the state with the strongest economic power in the United States, California occupies an important position in the global economy, precisely because California is committed to "reducing trade barriers and providing quality services to American consumers", but the current tariff policy is undermining all of this, leading to rising prices and stagnation at ports.Kremlin: European countries statements have a "confrontational character".May 10th news: On the evening of May 9th local time, a US federal judge ruled that the Trump administration may not continue to advance its large-scale layoffs or major restructuring plans for multiple federal agencies based on an executive order issued in February this year.Ukrainian President Zelensky: We all agree that the conflict in Ukraine must be ended "in a dignified and peaceful manner."

Dow Futures Decline Ahead of Fed Rate Hike; Earnings Season Accelerates

Charlie Brooks

Jul 25, 2022 11:20

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Following a strong week for key U.S. indices, U.S. stock futures were neutral on Sunday evening as market participants prepared for the busiest week of corporate earnings. The Federal Reserve's interest rate announcement on Wednesday is expected to contain additional rate increases.


At 7:10pm ET (11:10pm GMT), Dow Jones Futures and S&P 500 Futures were down 0.1 percent, while Nasdaq 100 Futures were up 0.1 percent.


After concluding its two-day policy meeting on Wednesday, it is widely anticipated that the Federal Reserve will announce a 75 basis point rate hike the following week. Apple Inc (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), 3M Company (NYSE:MMM), Boeing Co (NYSE:BA), Forward Industries Inc (NASDAQ:FORD), and Intel Corporation (NASDAQ:INTC) are also slated to report quarterly results.


On the statistics front, the GDP estimate for the second quarter is expected to show growth of 0.4%, reversing the decline of 1.6% in the previous quarter. In addition, CB consumer sentiment, new and pending home sales, durable goods orders, and the Chicago, Dallas, Richmond, and Kansas Fed Manufacturing indexes will be monitored closely.


Key benchmark indices sank on Friday as a result of Snap Inc.'s weaker-than-anticipated earnings (NYSE:SNAP). The Dow Jones Industrial Average lost 137.61 points, or 0.4%, to reach 31,893. The S&P 500 slid 0.9% to 3,961.6, while the NASDAQ Composite dropped 1.87% to 11,834.11. The Dow increased by 2% for the week, while the S&P 500 and Nasdaq rose by 2.6% and 3.3%, respectively.


Following the release of earnings, Snap Inc (NYSE:SNAP) shares plunged 39.1% among equities.


Twitter Inc (NYSE:TWTR) climbed 0.8% despite posting below-consensus earnings, revenue, and user growth.


Verizon Communications Inc (NYSE:VZ) shares slumped 6.7% on earnings that fell short of Wall Street's forecasts.


On the bond markets, United States 10-Year interest rates were 2.752%.