FYI:
U.S. stock index futures were mixed Monday morning investors pause for breath following a record-setting performance on Wall Street last week and monitor Chinese economic data.
Dow futures were up 31 points but indicated a positive open of around 17 points. The S&P 500 pointed to a slightly higher implied open while the Nasdaq was seen marginally lower.
Major indexes surged the new highs last week after U.S. Federal Reserve Chairman Jerome Powell indicated during Congressional testimony that an interest rate cut could be on the horizon from the central bank. The Dow closed above 27,000 for the first time on Thursday and Friday’s gain brought its increase on the week to 1.5%.
Chinese stocks inched higher Monday after new data showed growth in the world’s second-largest economy slowed to its weakest pace since 1992, raising expectations of a more supportive policy from Beijing.
Data released Monday showed China’s economic growth decelerated to 6.2% in the second quarter. The Shanghai Composite Index was up 0.4% at closing, after falling as much as 1.5% in the morning session.
The Stoxx Europe 600 gained 0.2% in early trade. Shares in Galapagos, the Belgian biotech group, rallied 16% in morning trading following the announcement of a large infusion of cash. Gilead Sciences has said it would pay $5.1 billion to boost its stake in the company and gain rights outside Europe to its treatments in development. Shares in Gilead were up 0.1%.
Meanwhile, Anheuser-Busch InBev was among the biggest losers in European equity markets and was down 1.5%. The group said Friday that it was calling off the nearly $10 billion listing of its Asian business due in part to “prevailing market conditions.” The initial public offering would have been the largest this year.
Looking ahead, investors will be watching as second-quarter reporting season begins this week, with updates expected from Citigroup , JPMorgan Chase and Netflix .
The Empire State manufacturing survey is due for publication at 8.30 a.m. ET.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/chinese-stocks-gain-on-hopes-for-stimulus-11563177827Bloomberg
https://www.bloomberg.com/news/articles/2019-07-14/asia-stocks-to-dip-as-china-growth-data-awaits-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-amazon-prime-day-facebook-citigroup-stock-market-rally/CNBC:
https://www.cnbc.com/2019/07/15/us-stock-markets-record-setting-rally-slows-amid-china-slowdown-fears.htmlReuters:
https://www.reuters.com/article/us-huawei-tech-usa-blacklist-exclusive/exclusive-u-s-firms-may-get-nod-to-restart-huawei-sales-in-two-four-weeks-official-idUSKCN1U90ONU.K.
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-rises-on-china-data-antofagasta-idUKKCN1UA0N2Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-edge-higher-after-encouraging-china-data-idUSKCN1UA0OXAsia:
https://www.marketwatch.com/story/asian-markets-retreat-as-chinas-gdp-growth-fails-to-meet-already-low-expectations-2019-07-14/printBonds:
https://www.cnbc.com/2019/07/12/us-bonds-traders-await-fresh-data.htmlCurrencies:
https://www.cnbc.com/2019/07/15/forex-markets-dollar-chinese-economic-data-in-focus.htmlOil:
https://www.cnbc.com/2019/07/15/oil-markets-china-economic-data-in-focus.htmlGold:
https://www.cnbc.com/2019/07/15/gold-markets-china-gdp-data-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx
