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Freddie Mac: Outstanding principal in its mortgage-related portfolio increased by approximately $5.3 billion in October. Mortgage-related securities and other mortgage-related guarantees grew at an annualized rate of 3.8%. The total mortgage portfolio grew at an annualized rate of 4.2% in October.Dell (DELL.N) Chief Operating Officer: Despite mitigation measures, rising costs will still be passed on to customers.Dell (DELL.N) Chief Operating Officer: The unprecedented rapid rise in costs is not only affecting DRAM, but also NAND, hard drives and cutting-edge semiconductor nodes.Freddie Mac: The delinquency rate for single-family homes fell to 0.56% in October from 0.57% in September, while the delinquency rate for multi-family homes fell to 0.48% in October from 0.51% in September.On November 26th, former Bank of Japan board member Kazuo Monma stated in an interview that the recent weakening of the yen is increasing the likelihood of the Bank of Japan raising its benchmark interest rate next month. He said, "Unless there is significant negative news and the yen remains at its current level, the probability of a rate hike in December is quite high. There is really no need to wait for stronger signals from wages, prices, or economic indicators." Monma added, "The weak yen is the biggest enemy of the governments measures to combat rising prices. Prime Minister Sanae Takaichis high approval rating stems from public expectations of her addressing the cost of living issue, so the effectiveness of her measures is crucial to her governance. If the yen becomes an obstacle, she is likely to feel the need to curb its decline." However, Monma also indicated that he does not rule out the possibility that the central bank will wait until January next year to act, at which time it will have more data to confirm the momentum of wage increases next year and the resilience of the US economy.

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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