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The Peoples Bank of China (PBOC) announced today that it conducted 63 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 63 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.Hang Seng Index futures opened 0.62% higher at 23,178 points, a premium of 132 points.July 3 – On July 1, He Yang, Vice Minister of the National Energy Administration of China, met with Yu Yunsa, Executive Director of EDF (Électricité de France), in Beijing. The two sides exchanged views on Chinas 15th Five-Year Plan for Energy and cooperation in the clean energy sector. He Yang stated that during the 15th Five-Year Plan period, China will vigorously develop clean energy, expand investment in renewable energy, and consistently adhere to an open policy, creating a market-oriented, rule-of-law, and internationalized business environment. He welcomed foreign companies, including EDF, to deepen their presence in the Chinese market and to strengthen practical cooperation with Chinese companies in various energy sectors. Yu Yunsa stated that EDF maintains a good cooperative relationship with Chinese companies, and China has always been a core market for EDFs development. EDF is willing to leverage its traditional technological advantages to cooperate with Chinese companies in areas such as nuclear power, electrification, emerging technologies, and third-party markets.July 3 - Spot gold and silver prices rose in the short term, with gold breaking through $4,160 per ounce, up 0.88% on the day, and silver up 1.00% to $61.58 per ounce.The main Shanghai gold futures contract rose 2.00% intraday, currently trading at 908.22 yuan/gram.

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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