Contracts on the S&P 500 slipped by 0.3%, while futures on the tech-heavy Nasdaq 100 slumped by 0.5%. Futures on the Dow Jones Industrial Average fell by 0.2%. Across the pond, the Europe Stoxx 600 index remained relatively unchanged.

Investors are awaiting the minutes from the latest Federal Reserve policy meeting which are set to be released later on Wednesday. This will be followed by the latest US Consumer Price Index report on Thursday. While observers are on the lookout for signs of a potential interest rate cut by the central bank, Fed Bank of Boston President Susan Collins warned that rate cuts will need to be carefully considered on the back of sufficient data-driven evidence.

The post U.S. Futures Lose Ground Amid Google Antitrust Case appeared first on theprimarymarket.com.

July’s CPI report showed that prices rose at their slowest rate year-over-year since 2021. Cisco Systems stocks jumped by 7.4% in premarket trading following the release of the CPI, while Danish pharmaceutical Bavarian Nordic A/S surged by 17%. Ultimately, the positive CPI data has lifted investor confidence, with traders betting on an interest rate cut in September by the Federal Reserve.

“The latest US inflation data supports our view of a gradual cooling of the US economy,” Mark Haefele, chief investment officer at UBS Global Wealth Management confirmed. “This underlines our view that the Fed will start easing policy at its September meeting. That provides a positive backdrop for risk assets.” Traders are anticipating a 25 basis point rate cut next month as well as a total of 100 basis points in reductions for the rest of the year.

The post Futures Rally After Promising CPI Report appeared first on theprimarymarket.com.

The British pound fell 0.2% against the dollar to $1.2841, while the euro rose 0.3% to $1.1021. The Japanese yen continued hovering around 146.96 per dollar. The Bloomberg Dollar Spot Index remained stagnant. Shifting the focus to cryptocurrencies, Bitcoin rose 1.2% to $61,287.69 while Ether gained 1.8%, settling at $2,747.95.

Shares in Google’s parent company Alphabet Inc. fell by 1% in premarket trading after it was announced that the U.S. Justice Department is seeking to break up the Google organization.

The upcoming Consumer Price Index is expected to show an easing in U.S. price pressures, thereby strengthening the argument for the Federal Reserve to cut its interest rates. “We think inflation is no longer going to be an issue for the Fed and they will be able to cut,” Coutts’ head of asset allocation Lilian Chovin observed.

The post U.S. Futures Hold Steady Ahead of CPI Report appeared first on theprimarymarket.com.

On Wednesday morning, the Consumer Price Index (CPI) for July is due for release, with observers expecting CPI growth to slow down, thereby indicating market stability. This is set to be followed by the retail sales reading for the month on Thursday.

Home Depot shares slumped after the home improvement retailer lowered its same-store sales outlook for the remainder of the year. Nvidia, in contrast, rose by roughly 1% during premarket trading with Bank of America naming it a top “rebound” stock. This built on the chipmaker’s 4% rise during the previous session.

Chipotle was one of the largest tumblers on Wednesday, with the restaurant chain experiencing an 8% decline in pre-market trading after its Chief Executive Officer, Brian Niccol, left the company to take on the same role at Starbucks.

The post U.S. Futures Rise as Inflation Data is Incoming appeared first on theprimarymarket.com.

The US Consumer Price Index (CPI), set to be released on Wednesday, is expected to show a 0.2% rise from June for both the headline figure as well as core CPI, which strips out volatile energy and food costs. This is expected to put investors at ease as markets remain stable, however, it may not be enough to sway the Federal Reserve’s interest rate policy over the near term.

“Markets are looking for better growth or more policy support to get excited again,” Morgan Stanley analysts wrote in a note to investors, suggesting that stable markets may not convince investors to get enthusiastic about upping their investments unless actual positive change is realized. “We don’t see confirming evidence in either direction near term, leaving the index to trade in a tight range for now.”

The post Stocks Stumble Ahead of Big Data Week appeared first on theprimarymarket.com.

In Europe, the benchmark Stoxx 600 Index slumped by 1.1%, while the MSCI Asia Pacific Index tumbled by 1.7%. The MSCI Emerging Markets Index declined 0.8%.

Leading the big tech earnings reports were Tesla and Alphabet Inc., both of whom posted disappointing quarterly earnings. Kering SA, Nestle SA, and Stellantis NV followed, each failing to meet Wall Street estimates with their earnings.

Investors have broadly engaged in a sell-off of artificial intelligence-focused stocks; a major reversal from the AI frenzy that previously took charge this year. “There seems to be a broad reassessment on the cost and benefit calculus for the artificial intelligence ecosystem,” Lombard Odier Singapore Ltd macro strategist Homin Lee explained.

For the remainder of the week, investor focus will shift toward macroeconomic data. US GDP and initial jobless claims data are due later on Thursday, providing further insight into the economy’s health.

The post Global Stocks Collapse as Big Tech Earnings Disappoint appeared first on theprimarymarket.com.

U.S. 10-year Treasuries declined three basis points to 4.21% while the benchmark Stoxx Europe 600 advanced by 0.6%, thereby recovering from its 2.7% decline over the course of last week. U.S. futures climbed marginally higher, with those on the S&P 500 edging 0.2% higher. Nasdaq 100 futures rose by 0.4%, while those on the Dow Jones Industrial Average were little changed.

Despite Biden’s announcement, investors’s market outlooks appear to be minimally affected by politics. “We are more focused on the cadence of the business cycle than on the outcome of the election,” Morgan Stanley strategist Michael Wilson confirmed. A new Democratic presidential candidate will need to be selected before the party’s convention on August 19.

Against the dollar, the euro remained stable at $1.0886. The pound rose 0.1% against the greenback to $1.2928, while the Japanese yen went up 0.6% against the US currency to 156.49 per dollar. The Bloomberg Spot Dollar index remained relatively unchanged. In contrast, the U.S. dollar remained strong against cryptocurrencies, with Bitcoin falling 0.6% to $67,304.73 while Ether also slumped by 0.6% to $3,476.55.

The post Dollar Slips and Bonds Rise Following Biden Update appeared first on theprimarymarket.com.

Contracts listed on the tech-heavy Nasdaq Composite index rose 0.3% higher, with futures on the S&P 500 and the Dow Jones Industrial Average rising marginally higher. The 10-year Treasury Yield rose to 4.45%, with 4.5% being viewed as a potential tipping point by some investors as it appears to be on track to return to last year’s highs.

Wednesday’s CPI report is expected to provide a deeper indication of whether the central bank will indeed consider implementing three rate cuts this year as previously mentioned by Fed Chair Jerome Powell. Investor anxiety was stoked last Thursday when Minneapolis Fed president Neel Kashkari claimed that the Fed may even forego interest rate cuts entirely this year depending on the trajectory of price pressures.

The post Futures Stall as Markets Await Fresh Inflation Data appeared first on theprimarymarket.com.

March jobs data, set to be released later this week is expected to show that employment has continued to rise this past month. While Powell is expected to provide more insight in Wednesday’s speech, he previously mentioned that Fed policymakers are awaiting further evidence to suggest that prices are being contained before introducing interest rate cuts.

Oil edged towards a five-month high as Middle East tension continues and Mexican supplies remain tight. West Texas Intermediate rose 0.6% to $84.25 per barrel. Spot gold traded 0.2% higher at $2,255.31 an ounce.

The post U.S. Futures Idle as Investors Assess Federal Reserve Outlook appeared first on theprimarymarket.com.

This development had a significant effect on investor confidence, driving futures on the benchmark S&P 500 up by 0.4%. Futures on the Nasdaq 100 rose by as much as 0.8%, while contracts listed on the Dow Jones Industrial Average gained 0.3%. Across the Atlantic, the Stoxx Europe 600 advanced by 0.9%, while the MSCI Asia Pacific Index surged 2% higher.

“The Fed appears to have achieved a better balance around its dual mandate of price stability and maximum employment,” Banco Bilbao Vizcaya Argentaria analysts told clients in a written note. They added their expectation that the central bank would normalize its policy stance by June.

The post Fed Sticks to Rate Cut Agenda, Sending Stocks Higher appeared first on theprimarymarket.com.

Contracts on the S&P 500 slipped by 0.3%, while futures on the tech-heavy Nasdaq 100 slumped by 0.5%. Futures on the Dow Jones Industrial Average fell by 0.2%. Across the pond, the Europe Stoxx 600 index remained relatively unchanged.

Investors are awaiting the minutes from the latest Federal Reserve policy meeting which are set to be released later on Wednesday. This will be followed by the latest US Consumer Price Index report on Thursday. While observers are on the lookout for signs of a potential interest rate cut by the central bank, Fed Bank of Boston President Susan Collins warned that rate cuts will need to be carefully considered on the back of sufficient data-driven evidence.

The post U.S. Futures Lose Ground Amid Google Antitrust Case appeared first on theprimarymarket.com.

July’s CPI report showed that prices rose at their slowest rate year-over-year since 2021. Cisco Systems stocks jumped by 7.4% in premarket trading following the release of the CPI, while Danish pharmaceutical Bavarian Nordic A/S surged by 17%. Ultimately, the positive CPI data has lifted investor confidence, with traders betting on an interest rate cut in September by the Federal Reserve.

“The latest US inflation data supports our view of a gradual cooling of the US economy,” Mark Haefele, chief investment officer at UBS Global Wealth Management confirmed. “This underlines our view that the Fed will start easing policy at its September meeting. That provides a positive backdrop for risk assets.” Traders are anticipating a 25 basis point rate cut next month as well as a total of 100 basis points in reductions for the rest of the year.

The post Futures Rally After Promising CPI Report appeared first on theprimarymarket.com.

The British pound fell 0.2% against the dollar to $1.2841, while the euro rose 0.3% to $1.1021. The Japanese yen continued hovering around 146.96 per dollar. The Bloomberg Dollar Spot Index remained stagnant. Shifting the focus to cryptocurrencies, Bitcoin rose 1.2% to $61,287.69 while Ether gained 1.8%, settling at $2,747.95.

Shares in Google’s parent company Alphabet Inc. fell by 1% in premarket trading after it was announced that the U.S. Justice Department is seeking to break up the Google organization.

The upcoming Consumer Price Index is expected to show an easing in U.S. price pressures, thereby strengthening the argument for the Federal Reserve to cut its interest rates. “We think inflation is no longer going to be an issue for the Fed and they will be able to cut,” Coutts’ head of asset allocation Lilian Chovin observed.

The post U.S. Futures Hold Steady Ahead of CPI Report appeared first on theprimarymarket.com.

On Wednesday morning, the Consumer Price Index (CPI) for July is due for release, with observers expecting CPI growth to slow down, thereby indicating market stability. This is set to be followed by the retail sales reading for the month on Thursday.

Home Depot shares slumped after the home improvement retailer lowered its same-store sales outlook for the remainder of the year. Nvidia, in contrast, rose by roughly 1% during premarket trading with Bank of America naming it a top “rebound” stock. This built on the chipmaker’s 4% rise during the previous session.

Chipotle was one of the largest tumblers on Wednesday, with the restaurant chain experiencing an 8% decline in pre-market trading after its Chief Executive Officer, Brian Niccol, left the company to take on the same role at Starbucks.

The post U.S. Futures Rise as Inflation Data is Incoming appeared first on theprimarymarket.com.

The US Consumer Price Index (CPI), set to be released on Wednesday, is expected to show a 0.2% rise from June for both the headline figure as well as core CPI, which strips out volatile energy and food costs. This is expected to put investors at ease as markets remain stable, however, it may not be enough to sway the Federal Reserve’s interest rate policy over the near term.

“Markets are looking for better growth or more policy support to get excited again,” Morgan Stanley analysts wrote in a note to investors, suggesting that stable markets may not convince investors to get enthusiastic about upping their investments unless actual positive change is realized. “We don’t see confirming evidence in either direction near term, leaving the index to trade in a tight range for now.”

The post Stocks Stumble Ahead of Big Data Week appeared first on theprimarymarket.com.

In Europe, the benchmark Stoxx 600 Index slumped by 1.1%, while the MSCI Asia Pacific Index tumbled by 1.7%. The MSCI Emerging Markets Index declined 0.8%.

Leading the big tech earnings reports were Tesla and Alphabet Inc., both of whom posted disappointing quarterly earnings. Kering SA, Nestle SA, and Stellantis NV followed, each failing to meet Wall Street estimates with their earnings.

Investors have broadly engaged in a sell-off of artificial intelligence-focused stocks; a major reversal from the AI frenzy that previously took charge this year. “There seems to be a broad reassessment on the cost and benefit calculus for the artificial intelligence ecosystem,” Lombard Odier Singapore Ltd macro strategist Homin Lee explained.

For the remainder of the week, investor focus will shift toward macroeconomic data. US GDP and initial jobless claims data are due later on Thursday, providing further insight into the economy’s health.

The post Global Stocks Collapse as Big Tech Earnings Disappoint appeared first on theprimarymarket.com.

U.S. 10-year Treasuries declined three basis points to 4.21% while the benchmark Stoxx Europe 600 advanced by 0.6%, thereby recovering from its 2.7% decline over the course of last week. U.S. futures climbed marginally higher, with those on the S&P 500 edging 0.2% higher. Nasdaq 100 futures rose by 0.4%, while those on the Dow Jones Industrial Average were little changed.

Despite Biden’s announcement, investors’s market outlooks appear to be minimally affected by politics. “We are more focused on the cadence of the business cycle than on the outcome of the election,” Morgan Stanley strategist Michael Wilson confirmed. A new Democratic presidential candidate will need to be selected before the party’s convention on August 19.

Against the dollar, the euro remained stable at $1.0886. The pound rose 0.1% against the greenback to $1.2928, while the Japanese yen went up 0.6% against the US currency to 156.49 per dollar. The Bloomberg Spot Dollar index remained relatively unchanged. In contrast, the U.S. dollar remained strong against cryptocurrencies, with Bitcoin falling 0.6% to $67,304.73 while Ether also slumped by 0.6% to $3,476.55.

The post Dollar Slips and Bonds Rise Following Biden Update appeared first on theprimarymarket.com.

Contracts listed on the tech-heavy Nasdaq Composite index rose 0.3% higher, with futures on the S&P 500 and the Dow Jones Industrial Average rising marginally higher. The 10-year Treasury Yield rose to 4.45%, with 4.5% being viewed as a potential tipping point by some investors as it appears to be on track to return to last year’s highs.

Wednesday’s CPI report is expected to provide a deeper indication of whether the central bank will indeed consider implementing three rate cuts this year as previously mentioned by Fed Chair Jerome Powell. Investor anxiety was stoked last Thursday when Minneapolis Fed president Neel Kashkari claimed that the Fed may even forego interest rate cuts entirely this year depending on the trajectory of price pressures.

The post Futures Stall as Markets Await Fresh Inflation Data appeared first on theprimarymarket.com.

March jobs data, set to be released later this week is expected to show that employment has continued to rise this past month. While Powell is expected to provide more insight in Wednesday’s speech, he previously mentioned that Fed policymakers are awaiting further evidence to suggest that prices are being contained before introducing interest rate cuts.

Oil edged towards a five-month high as Middle East tension continues and Mexican supplies remain tight. West Texas Intermediate rose 0.6% to $84.25 per barrel. Spot gold traded 0.2% higher at $2,255.31 an ounce.

The post U.S. Futures Idle as Investors Assess Federal Reserve Outlook appeared first on theprimarymarket.com.

This development had a significant effect on investor confidence, driving futures on the benchmark S&P 500 up by 0.4%. Futures on the Nasdaq 100 rose by as much as 0.8%, while contracts listed on the Dow Jones Industrial Average gained 0.3%. Across the Atlantic, the Stoxx Europe 600 advanced by 0.9%, while the MSCI Asia Pacific Index surged 2% higher.

“The Fed appears to have achieved a better balance around its dual mandate of price stability and maximum employment,” Banco Bilbao Vizcaya Argentaria analysts told clients in a written note. They added their expectation that the central bank would normalize its policy stance by June.

The post Fed Sticks to Rate Cut Agenda, Sending Stocks Higher appeared first on theprimarymarket.com.