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July 12 – On the morning of July 12, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management continued to organize a joint consultation with the China Meteorological Administration, the Ministry of Water Resources, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Industry and Information Technology, and the Ministry of Transport to assess the development trend of Typhoon Bavi and heavy rainfall, and to deploy flood and typhoon prevention work in key areas. The State Flood Control and Drought Relief Headquarters activated a Level IV emergency response for flood control in Shandong on July 12, and adjusted the emergency responses for flood and typhoon prevention in Zhejiang, Fujian, Beijing, Tianjin, and Guangxi as needed. Three additional working groups were dispatched to Hebei, Liaoning, and Jilin to assist and guide local flood control efforts.Ukraine says it sank 14 Russian ships on Sunday.Kuwaiti Foreign Ministry: Strongly condemns the heinous attack on Kuwait by Iran this morning.July 12th - According to Beijing Emergency Management Bureau, the Beijing Flood Control Office announced that the Level I flood control emergency response for Daxing, Tongzhou, Shunyi, and Pinggu districts was lifted at 2 PM on July 12th. The entire city has lifted its flood control emergency response. At 8:30 AM today, the Level I flood control emergency response for Fangshan, Miyun, Huairou, Mentougou, and Fengtai districts was lifted, while the Level II flood control emergency response for Dongcheng, Xicheng, Chaoyang, Haidian, Shijingshan, Changping, and Yanqing districts was lifted.The Ukrainian military says it hit an oil refinery in Russia’s Samara region.

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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