To The Moon

* U.S. stocks higher, close at new record

🇺🇸 S&P 500: 0.10% 📈

🇺🇸 Nasdaq: 0.28% 📈

🇪🇺 Stoxx 600 Index: -0.03% 📉

🇯🇵 Nikkei 225 Index: -0.32% 📉

🇭🇰 Hang Seng Index: -1.08% 📉

🇨🇳 CSI 300 Index: -0.79% 📉

* U.S. stocks ended higher, with the S&P 500 $S&P 500(.SPX)$   and Nasdaq $Nasdaq100 Bull 3X ETF(TQQQ)$  $Invesco QQQ(QQQ)$ up 0.9% and 1.5% respectively, according to CMEWatch, as a cooling job market prompted an influx of bets on a rate cut by the Federal Reserve in September.

* ⁠ Bearish signals for Chinese stocks grew ahead of one of the country's biggest annual policy meetings, with the Hang Seng and CSI 300 down -1.1% and -0.8% respectively.

💡 Future events: 💡

* Preliminary U.S. machine tool orders year-over-year will be released on Tuesday.

* On Thursday, China's consumer price index annual rate, the U.S. core consumer price index monthly rate, the consumer price index annual rate, and unemployment benefit applications all attracted investors' attention.

* At the end of the week, we will see the release of monthly US PPI and the University of Michigan's preliminary consumer confidence index.

💡 Things you need to know today: 💡

1. Morgan Stanley's Mike Wilson said traders should prepare for a sharp correction in stocks as uncertainties emerge such as the U.S. presidential campaign, corporate earnings and Federal Reserve policy.

Morgan Stanley Mike Wilson

2. France is mired in a prolonged political deadlock after Marine Le Pen's far-right camp suffered a shocking defeat in Sunday's election, leaving a divided parliament without a clear majority.

Marine Le Pen

3. Local government financing vehicles experienced their largest quarterly financing outflows in the second quarter since Fitch Ratings Inc. began tracking data in 2018. Net financing was negative 179 billion yuan ($24.6 billion), marking the third consecutive quarter of net outflows.

4. Microsoft Corp  $Microsoft(MSFT)$  told employees in China they can only use iPhones for work starting in September, effectively cutting off the use of Android devices in the workplace.

Microsoft Bill Gates

5. South Korean President Yoon Suk Yeol said he would discuss with NATO leaders the unique threat to Europe posed by North Korea's deepening military ties with Russia, and warned Moscow that it must choose between North Korea and South Korea. See where your real interests lie.

South Korean President Yoon Suk Yeol

✅ KEY TAKEAWAYS:

As stocks continue to rise, all eyes are on U.S. second-quarter earnings reports.

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