Evening Headlines
Bloomberg:
- Asia Stocks to Slip After Tech Rout; Dollar Falls. Asian futures pointed to a weaker open after the biggest technology shares led a retreat in U.S. stocks amid signs of investor fatigue with the sector. Government bonds declined ahead of a slew of central bank meetings. Futures on equity benchmarks in Japan, Hong Kong and Australia were all down. The Nasdaq Composite Index sank 1.4 percent, while losses on the S&P 500 Index were tempered by gains in banks and oil producers. The FANG cohort of tech megacaps tumbled almost 3 percent, led by Netflix Inc., leaving the group down more than 9 percent since Facebook Inc.’s disappointing earnings results last week. A retreat in the dollar helped oil climb past $70 a barrel. Futures on the Nikkei 225 Stock Average fell 0.2 percent in Singapore. Futures on the S&P/ASX 200 Index were less than 0.05 percent lower. Hong Kong’s Hang Seng Index futures declined 0.1 percent. S&P 500 Index futures rose less than 0.1 percent as of 7:06 a.m. in Tokyo.
Wall Street Journal:
Fox News:
CNBC:
Zero Hedge:
Business Insider:
Night Trading
Earnings of Note
Company/Estimate
Before the Open:
Night Trading
- Asian equity indices are -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 79.75 +1.0 basis point.
- Asia Pacific Sovereign CDS Index 11.75 -1.0 basis point.
- Bloomberg Emerging Markets Currency Index 70.12 -.01%.
- FTSE 100 futures -.22%
- S&P 500 futures +.07%.
- NASDAQ 100 futures +.03%.
Earnings of Note
Company/Estimate
Before the Open:
- (AGCO)/1.28
- (APTV)/1.36
- (AMT)/1.64
- (ADM)/.77
- (BP)/.14
- (CMI)/3.66
- (ETN)/1.32
- (FDP)/1.27
- (HMC)/115.26
- (IGT)/.36
- (PFE)/.74
- (RL)/1.36
- (SNE)/74.56
- (VMC)/1.35
After the Close:
8:30 am EST
- (APC)/.58
- (AAPL)/2.18
- (BIDU)/2.59
- (CAKE)/.81
- (PZZA)/.55
- (SMG)/2.58
- (ZEN)/.00
8:30 am EST
- Personal Income for June is estimated to rise +.4% versus a +.4% gain in May.
- Personal Spending for June is estimated to rise +.4% versus a +.3% gain in May.
- The PCE Core MoM for June is estimated to rise +.1% versus a +.2% gain in May.
- The Employment Cost Index for 2Q is estimated to rise +.7% versus a +.8% gain in 1Q.
- The S&P CoreLogic CS 20-City MoM for May is estimated to rise +.2% versus a +.2% gain in April.
- The Chicago Purchasing Manager Index for July is estimated to fall to 62.0 versus a reading of 64.1 in June.
- The Conference Board Consumer Confidence Index for July is estimated to fall to 126.0 versus 126.4 in June.
- None of note
Other Potential Market Movers
- The China Manufacturing PMI report, Eurozone GDP report, Eurozone CPI report, weekly US retail sales reports and the Keefe Bruyette Woods Community Bank Conference could also impact trading today.