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HSBCs preview of the US July CPI: It is expected that several core inflation components will cool down more than expected, leading to both the overall CPI and core CPI falling short of market expectations.August 9th - The US CPI report, to be released next Wednesday, is undoubtedly the most closely watched data of the week. Economists generally expect the annual inflation rate to slow slightly, but core inflation is likely to remain high, reflecting persistent price pressures in the services and housing sectors. According to the latest data, the Federal Reserve remains cautious, emphasizing that it needs further assurance that inflation is sustainably approaching its 2% target before considering interest rate cuts.August 9th - As Typhoon Dolphin approaches, its impact on Shanghai continues to intensify, making the flood control situation severe. Mayor Gong Zheng chaired a video conference today (August 9th) to coordinate typhoon defense and response efforts, conducting further checks, deployments, and implementation of typhoon preparedness measures.According to real-time data from Lighthouse Pro, as of 12:04 PM on August 9th, the film "The Eight Immortals!" had grossed over 1.4 billion yuan.Conflict Updates: 1. Russian Operations Command: The Ilsky oil refinery caught fire due to drone debris. 2. Ukraine claims attacks in Kyiv and other areas, resulting in multiple deaths and injuries. 3. Local authorities state the fire at the Ilsky oil refinery in Krasnodar has been extinguished. 4. According to Interfax: Russia claims a drone attacked a ship carrying weapons for the Ukrainian military east of Odessa. 5. The Ukrainian military states that Ukrainian troops attacked the Ilsky and Sizlan oil refineries in Russia, causing the fire. Other Updates: 1. US Officials: Ukraine agrees to avoid attacks on non-Russian oil tankers and Black Sea oil facilities. 2. New Zealand imposes new sanctions on Russia following US actions. 3. Zelensky: The US will provide Ukraine with Patriot interceptor missiles monthly. 4. Ukrainian President Zelensky expresses gratitude for the US Senates passage of the Russian sanctions bill. 5. Zelensky visits Serbia as Russias influence weakens. 6. Sources: Musk refused to allow Ukraine to use Starlink to strike targets within Russia. 7. A Ukrainian drone violated Bulgarian airspace and exploded, endangering key energy facilities. Bulgaria has summoned the Ukrainian ambassador regarding the incident. 8. Ukrainian Foreign Ministry: Ukraine has no intention of launching any equipment towards Bulgaria.

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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