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August 24th - According to a new research report released by Counterpoint Research, the global smartphone market is projected to decline by 14.3% year-on-year in 2026, hampered by factors such as rising component costs, reduced supply of low-priced devices, and declining consumer purchasing power. The global smartphone market is expected to continue facing challenges in 2027, with shipments projected to decline by a further 1.4%, but a strong recovery is expected to begin in 2028, with shipments projected to grow by approximately 4.8%.According to Interfax news agency, the Russian Ministry of Defense stated that Russian troops struck a cargo ship in the Black Sea.August 24th - The Ministry of Housing and Urban-Rural Development announced today that in the first half of this year, various regions have continuously improved the service level of urban parks and green spaces, continued to promote the construction of pocket parks and urban greenways, and upgraded the quality of parks and green spaces to better meet the needs of citizens for nearby recreation and fitness. Latest data shows that in the first half of this year, more than 2,800 pocket parks and 2,450 kilometers of urban greenways were newly started, and approximately 7,500 hectares of urban parks and green spaces were upgraded. The level of openness and sharing of parks and green spaces has continued to improve, with approximately 24,800 hectares of lawns being rotated for open use.August 24 - According to the website of the China Maritime Safety Administration, the Qinglan Maritime Safety Administration issued a navigation warning that military training will be conducted in parts of the South China Sea from 12:00 on August 24 to 18:00 on August 26, and entry is prohibited.August 24th - At 11:50 AM on August 24th, after comprehensive assessment and emergency consultation, the China Meteorological Administration upgraded its emergency response to major meteorological disasters (typhoons and rainstorms) from Level IV to Level III (typhoons, rainstorms, and severe convective weather). The National Meteorological Center forecasts that, affected by the typhoon and the southwest monsoon, from August 24th to 26th, Fujian, Guangdong, Guangxi, and Hainan will experience heavy rainfall, with strong winds in the Beibu Gulf, Taiwan Strait, East China Sea, and coastal areas. Furthermore, on the 24th, Liaoning and Jilin provinces will experience localized heavy rainfall, and from the 25th, eastern Northwest China, North China, and Northeast China will experience significant rainfall from west to east, accompanied by severe convective weather. The National Meteorological Center continued to issue a blue typhoon warning, a yellow rainstorm warning, and a blue severe convective weather warning at 10:00 AM on the 24th.

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.