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The SC crude oil futures contract saw its intraday gains narrow to 2.00%, currently trading at 596.50 yuan per barrel.On June 2nd, it was announced that the revised "Shenzhen Municipal Measures for the Supply and Management of Industrial and Other Industrial Land," spearheaded by the Shenzhen Municipal Planning and Natural Resources Bureau, will come into effect on May 7th, 2026. The measures aim to strengthen land use guarantees for major industrial projects, standardize the management of industrial land supply, and improve the level of efficient and intensive land use. The "Measures" represent a significant achievement in Shenzhens implementation of comprehensive reform pilot programs and the deepening of market-oriented allocation of factors of production. They also serve as an institutional exploration to address the tight land constraints of a megacity and enhance the management capacity of industrial land.On June 2nd, the Zhengzhou Housing Provident Fund Management Center and the Zhengzhou Housing Security and Real Estate Administration Bureau issued a notice to launch a service allowing the pre-withdrawal of housing provident funds to pay for the purchase of existing homes. Zhengzhou housing provident fund contributors who intend to purchase existing homes in Zhengzhou (the eight urban districts) and meet the eligibility requirements for housing provident fund withdrawal can withdraw the housing provident funds of the buyer, their spouse, and co-owners after the "Zhengzhou Existing Housing Sales Contract" is filed. The withdrawn funds will be transferred to the supervision account specified in the "Zhengzhou Existing Housing Transaction Settlement Fund Supervision Agreement".Hong Kong-listed AI concept stocks opened slightly higher, with Dexter-B (02526.HK) up 7.77%, Pony.ai-W (02026.HK) up 3.68%, and 51Vision (06651.HK) up 1.47%.On Tuesday, June 2, the Hang Seng Index opened down 3.11 points, or 0.01%, at 25,395.07; the Hang Seng Tech Index opened up 30.91 points, or 0.62%, at 4,995.83; the H-share Index opened up 3.44 points, or 0.04%, at 8,511.31; and the Red Chip Index opened down 5.23 points, or 0.12%, at 4,422.19.

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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