From Nasdaq: 2024-07-11 07:38:13

September S&P 500 E-Mini futures (ESU24) and Nasdaq 100 E-Mini futures (NQU24) are down this morning ahead of a crucial U.S. inflation reading. Wall Street closed in the green yesterday with S&P 500 hitting 5,600 for the first time. Companies like Illumina and Taiwan Semiconductor reported positive earnings. On the downside, Intuit cut 10% of its workforce.

Federal Reserve Chair Powell noted uncertainty in inflation slowdown and cooling labor market. Market remains calm pending CPI report, with U.S. rate futures pricing in chances of rate cuts in July and September meetings. U.S. consumer inflation and jobless claims data to release today. PepsiCo and Delta Air Lines to report Q2 earnings.

U.K.’s economy grew more than expected in May as per Office for National Statistics. In Germany, annual inflation cooled to 2.2% in June. U.K.’s GDP, Industrial Production, Manufacturing Production, and Monthly GDP data released today showed mixed results. Euro Stoxx 50 futures up as investors await U.S. inflation data and focus on construction and technology stocks.

China’s Shanghai Composite up after securities regulator announced tighter rules on short-selling. Zhejiang Asia-Pacific Mechanical and Electronic gains after new order. Japan’s Nikkei 225 crosses 42,000 mark fueled by Wall Street rally. Core machinery orders in Japan fell unexpectedly in May. Foreign investors persist in purchasing Japanese stocks. Tomorrow, China’s trade data and Third Plenum in focus.

Pre-market movers include Actelis Networks soaring on $260,000 order, WD-40 Company climbing post Q3 results, and Costco raising membership fee. ON Semiconductor and Microchip Technology decline after downgrades. Today’s earnings spotlight on PepsiCo, Delta Air Lines, and others. Market information is for informational purposes only.



Read more at Nasdaq: Stocks Tread Water Before the Open as Investors Brace for U.S. Inflation Data, PepsiCo Earnings on Tap