Market Highlights π‘ - 9 July 2024
* U.S. stocks higher, close at new record
πΊπΈ S&P 500: 0.10% π
πΊπΈ Nasdaq: 0.28% π
πͺπΊ Stoxx 600 Index: -0.03% π
π―π΅ Nikkei 225 Index: -0.32% π
ππ° Hang Seng Index: -1.08% π
π¨π³ CSI 300 Index: -0.79% π
* U.S. stocks ended higher, with the S&P 500 $S&P 500(.SPX)$
* β 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.
π‘ Future events: π‘
* 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.
π‘ Things you need to know today: π‘
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.
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.
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.
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.
β KEY TAKEAWAYS:
As stocks continue to rise, all eyes are on U.S. second-quarter earnings reports.
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Here are some upcoming earnings releases for the week of July 9th to July 15th, 2024:
Kongsberg Gruppen ASA (KBGGY) - Earnings release on July 10th, before the market opens.
Pepsi (PEP) - Earnings release on July 11th, before the market opens.
Fast Retailing Co. Ltd. (FRCOY) - Earnings release on July 11th.
Seven & I Holdings Co., Ltd. (SVNDY) - Earnings release on July 11th.
Delta Air Lines (DAL) - Earnings release on July 11th, before the market opens.
DNB ASA (DNBBY) - Earnings release on July 11th.
ConAgra (CAG) - Earnings release on July 11th, before the market opens.
JPMorgan Chase (JPM) - Earnings release on July 12th, before the market opens.
Wells Fargo (WFC) - Earnings release on July 12th, before the market opens.
Citigroup (C) - Earnings release on July 12th, before the market opens.
Bank of New York Mellon (BK) - Earnings release on July 12th, before the market opens.
Fastenal (FAST) - Earnings release on July 12th, before the market opens.
LM Ericsson Telephone (ERIC) - Earnings release on July 12th, before the market opens.
Ems Chemie Holding AG (EMSHF) - Earnings release on July 12th.
Aeon Co. Ltd. (AONNY) - Earnings release on July 12th.
AKER BP ASA UNSPON ADS EACH REP 1/2 COM (AKRBY) - Earnings release on July 12th.
Lawson Inc. (LWSOF) - Earnings release on July 12th.
Goldman Sachs (GS) - Earnings release on July 15th, before the market opens.
BlackRock (BLK) - Earnings release on July 15th, before the market opens.
Nordea Bank Abp (NBNKF) - Earnings release on July 15th.
Gjensidige Forsikring Asa (GJNSY) - Earnings release on July 15th.
Orkla ASA (ORKLF) - Earnings release on July 15th.
Please note that the earnings release dates and times are subject to change. It is recommended to check for any updates or announcements from the respective companies.