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September 21st - On September 20th, Germany held two local elections: one in the capital Berlin and the other in the eastern state of Mecklenburg-Western Pomerania (Megrenburg-Western Po). The latest exit polls indicate that the far-right Alternative for Germany (AfD) is projected to win 37% of the vote in the Mecklenburg-Western Po state election; the center-left Social Democratic Party (SPD) in the ruling coalition is projected to win 35.5%; and the Christian Democratic Union (CDU), led by Chancellor Merz, is projected to win 5.5%, barely crossing the threshold to enter the state parliament—the CDUs worst performance in any state election since 1949. With other major parties refusing to cooperate, the AfDs chances of forming a government in Mecklenburg-Western Po are extremely slim. However, this far-right party has become the largest party in the state parliaments of both German states in the past two weeks. In the Berlin city council elections, the Christian Democratic Union (CDU) is projected to win 20% of the vote; the Social Democratic Party (SPD) is expected to win 12%; the Alternative for Germany (AfD) is projected to win 16%, increasing its seat count; and the Left Party is projected to win 24.5%, currently leading. Germany has 16 states, and Berlin is one of three city-states. In the eastern Saxony-Anhalt state elections on September 6th, Merzs CDU suffered a crushing defeat, with its vote share plummeting to around 17%; the AfD won approximately 44% of the vote, becoming the largest party in the state.The U.S. Mission to Saudi Arabia: Due to the ongoing security situation in Saudi Arabia, all U.S. government employees working in Saudi Arabia now require special authorization to travel to the cities of Taif and Yanbu for both official and private purposes.German Chancellor Merz: We need determination, resolve, and patience; as party leader and chancellor, I am ready to do that. I take responsibility because I want to push the country forward.German Chancellor Merz: Germany must become a country that ushers in a new era. We cannot go back to the "good old days".German Chancellor Merz: Change brings challenges and new uncertainties. We need change.

The Dow Futures drop following a strong week

Charlie Brooks

Jul 11, 2022 10:59

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After major benchmark indexes completed the week higher, U.S. stock futures dropped during Sunday evening trade as investors anticipated company earnings reports and important inflation data.


By 7:00pm ET (11:00pm GMT), the Dow Jones Futures were down 0.2 percent , the S&P 500 Futures were down 0.3 percent , and the Nasdaq 100 Futures were down 0.4 percent .


Ahead this week, market participants will concentrate on new CPI data, with the inflation rate predicted to hit 8.8 percent, the highest level since December 1981. Investors will examine, among other data releases, retail sales, manufacturing production, Michigan consumer mood, NFIB Small Business Optimism, consumer inflation expectations, producer pricing, export and import prices, and the New York Empire State Manufacturing Index.


PepsiCo Inc (NASDAQ:PEP) and Delta Air Lines Inc (NYSE:DAL) are scheduled to report earnings on Tuesday and Wednesday, respectively, while JPMorgan Chase & Co (NYSE:JPM), Morgan Stanley (NYSE:MS), Wells Fargo & Company (NYSE:WFC), and Citigroup Inc (NYSE:C) are scheduled to report earnings later in the week.


During trading on Friday, the Dow Jones Industrial Average sank 46.4 points, or 0.2 percent, to 31,338.2, the S&P 500 finished 0.3 points, or 0.1 percent, down at 3,894.4, and the NASDAQ Composite climbed for the sixth consecutive day, adding 14 points, or 0.1 percent, to 11,635.3. The Dow rose 1.4 percent for the week, while the S&P 500 climbed 2.7 percent and the NASDAQ gained 6.1 percent .


On the bond markets, 10-Year United States rates jumped to 3.08 percent.


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