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Market news: Joe Ward, Teslas (TSLA.O) Vice President of Business in Europe, the Middle East and Africa (EMEA), will lead the companys sales, service and delivery divisions.Cleveland Fed President Hammark, a 2026 FOMC voting member, will speak in ten minutes; the EIA will release its monthly Short-Term Energy Outlook report in ten minutes.The German DAX 30 index closed down 1.37 points, or 0.01%, at 25,003.37 on Tuesday, February 10th; the UK FTSE 100 index closed down 32.01 points, or 0.31%, at 10,354.22 on Tuesday, February 10th; the French CAC 40 index closed up 4.60 points, or 0.06%, at 8,327.88 on Tuesday, February 10th; European... The Stoxx 50 index closed down 10.85 points, or 0.18%, at 6048.16 on Tuesday, February 10; the Spanish IBEX 35 index closed down 70.89 points, or 0.39%, at 18124.21 on Tuesday, February 10; and the Italian FTSE MIB index closed down 26.31 points, or 0.06%, at 46796.50 on Tuesday, February 10.According to sources, Venezuela has resumed oil exports to Israel after Maduros overthrow, and has shipped its first shipment of crude oil to Israel.On February 11th, Michael Pfister of Commerzbank stated in a report that the European Central Bank (ECB) may struggle to address the recent strength of the euro, as the factors driving this trend are beyond its control. Since hitting a low in August 2022, the euro has appreciated by over 15% on a trade-weighted basis, but this largely reflects the weakness of other currencies. The euro often benefits when other currencies face political crises, but this is detrimental to eurozone exports. ECB officials also emphasized that the euros appreciation is primarily expected to occur in the first quarter of 2025, when Germany announces its fiscal plan and the dollar weakens significantly. Pfister stated that the ECB is only likely to react more strongly if the euros appreciation becomes more pronounced.

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%.


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