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Futures Commentary by Everbright Futures: Overnight, international gold prices were mixed. London spot gold fluctuated narrowly, COMEX gold futures rose 0.18%, and SHFE gold fell 0.16%. The Federal Reserve will hold its March interest rate meeting early Thursday morning Beijing time. This meeting will focus on three key areas: 1. Whether monetary policy will shift. The meeting will release the latest dot plot. At the December meeting, officials were divided, with the median expectation being one rate cut (25 basis points) this year. The focus this time is whether further rate cuts are possible. 2. The Summary of Second Quarter Forecasts (SEP). Fed officials will make predictions on inflation and economic trends, especially the actual impact of the March oil price surge on inflation. 3. The Fed Chairmans post-meeting remarks. This is the first Fed meeting since the Middle East conflict. Facing rising oil prices, weak employment, and legal investigations, Chairman Powells statements at the press conference are worth watching, especially how he assesses the "two-way risk" of the oil price surge triggered by the Middle East conflict on inflation and growth. Gold may experience increased volatility after the meeting; cautious trading is advised. 4. Geopolitically, the US-Iran conflict remains unresolved. Trump stated that most NATO allies have indicated their unwillingness to be involved in US military action against Iran, and that the US "does not need anyones help." Israel stated that two senior Iranian officials have been "eliminated." 5. The US-Iran conflict remains the focus of gold trading. A buy-on-dips strategy is recommended. Regardless of future inflation or stagflation expectations, golds strategic allocation position will increase. Liquidity concerns have actually provided investors with an opportunity to buy and hold at lower prices. (This content and opinion are for reference only and do not constitute any investment advice.)S&P Global: Middle East wars will exacerbate volatility for South Korean oil refining companies.South Korean envoy: We have successfully avoided the worst-case scenario in the oil sector.March 18 – The State Council Taiwan Affairs Office held a regular press conference on March 18. The Fourth Session of the 14th National Peoples Congress reviewed and approved this years Government Work Report. How will the State Council Taiwan Affairs Office implement the Taiwan-related content in the Government Work Report? Spokesperson Chen Binhua stated that this year marks the beginning of the 15th Five-Year Plan. The Taiwan-related content in this years Government Work Report comprehensively elaborates on the major policies, principles, positions, and objectives of current Taiwan-related work, and is of great guiding significance for carrying out this years Taiwan-related work. With the successful conclusion of the 14th Five-Year Plan, my countrys economic strength, scientific and technological strength, national defense strength, and overall national strength have reached new heights, and Chinese-style modernization has taken new and solid steps, laying a more solid foundation for advancing the great cause of national reunification. The implementation of the 15th Five-Year Plan will undoubtedly provide broader development opportunities for Taiwan compatriots and enterprises.Samsung Electronics: The TV market will see slight growth this year.

Increases in Dow Futures and Inflation Concerns

Charlie Brooks

Jul 15, 2022 10:28

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Futures for U.S. equities were trading higher on Thursday evening, as key benchmark averages ended the regular session in a mixed way amid stronger-than-expected producer price data and disappointing profit reports from major banking institutions.


Dow Jones Futures increased 0.2 percent by 7:00 p.m. ET (11:00 p.m. GMT), while S&P 500 Futures and Nasdaq 100 Futures both rose 0.3 percent.


In extended trading, Pinterest Inc (NYSE:PINS) shares surged 15.8 percent following a Wall Street Journal article revealed Elliott Management's 9 percent stake.


Prior to the end of the day, investors will focus on June's retail sales, import and export prices, the June industrial production report, and preliminary July consumer sentiment data. Wells Fargo & Company (NYSE:WFC) and Citigroup Inc (NYSE:C) are expected to deliver their quarterly earnings results in the interim.


During Thursday's usual trading day, the Dow Jones Industrial Average fell 142.6 points, or 0.5 percent, to 30,630.2, the S&P 500 fell 11.4 points, or 0.3 percent, to 3,790.4, and the NASDAQ Composite increased just 3.6 points to 11,112.1.


Morgan Stanley (NYSE:MS) declined 0.4% after reporting Q2 EPS of $1.44 vs $1.57 forecasted and sales of $13.13 billion versus $13.39 forecasted.


JPMorgan Chase & Co (NYSE:JPM) fell 3.5 percent after announcing Q2 earnings per share of $2.76 compared to $2.94 forecasted and revenue of $30.72 billion compared to $31.84 forecasted.


In terms of data, producer prices increased by 11,3 percent year-over-year in June as energy prices jumped, adding to concerns of rapid rate hikes after the CPI result surpassed expectations in the previous session.


On the bond markets, the 10-Year United States interest rate was 2.958%.