[Truman]

Delta Air Lines (DAL 43.75, +0.61, +1.4%): sees Q2 EPS and revs above consensus; sees FY23 EPS at the top end of prior guidance range

[Truman]

Eli Lilly’s (LLY 459.90, +7.14, +1.6%): phase 2 retatrutide results published in The New England Journal of Medicine show the investigational molecule achieved up to 17.5% mean weight reduction at 24 weeks in adults with obesity and overweight

[Truman]

Alphabet A (GOOGL 117.42, -0.92, -0.8%): downgraded to Mkt Perform from Outperform at Bernstein

Kellogg (K 67.20, +1.60, +2.4%): upgraded to Buy from Neutral at Goldman

[Truman]

Microsoft (MSFT 330.40, +1.80, +0.6%): CEO Satya Nadella says company aims to reach $500 bln in sales by 2030, according to CNBC

[Truman]

Robinhood Markets (HOOD 9.76, +0.13, +1.4%): cutting roughly 7% of its full-time staff, according to WSJ

[Truman]

2-yr Treasury note yield is down six basis points to 4.68%
10-yr note yield is unchanged at 3.72%. The U.S. Dollar Index is down 0.1% to 102.55.

The S&P 500 futures are up 3 points and are trading 0.1% above fair value.
The Nasdaq 100 futures are up 49 points and are trading 0.3% above fair value.
The Dow Jones Industrial Average futures are down 55 points and are trading 0.2% below fair value.

[CautiousInvestor]

and maybe as a FAV song reflects — it’ll hit 45C in HOUSTON as I heard high might be 111F today
Hopefully heat wave will break for all our good members in TEXAS

[CautiousInvestor]

Dow 33,926.74 212.03 0.63%
S&P 500 4,378.41 49.59 1.15%
Nasdaq 13,555.67 219.89 1.65%
VIX 13.71 -0.54 -3.79%
Gold 1,923.20 -10.60 -0.55%
Oil 67.72 -1.65

• This reply was modified 5 months, 2 weeks ago by CautiousInvestor.

[Truman]

Equity indices in the Asia-Pacific region ended the midweek session on a mostly higher note.

—Equity Markets—

Japan’s Nikkei: +2.0%
Hong Kong’s Hang Seng: +0.1%
China’s Shanghai Composite: UNCH
India’s Sensex: +0.8%
South Korea’s Kospi: -0.7%
Australia’s ASX All Ordinaries: +1.2%

[Truman]

The Chinese yuan faced continued pressure despite yesterday’s intervention, falling to a fresh seven-month low against the dollar.
China’s National Bureau of Statistics noted that industrial profits are being reduced by insufficient demand.
China’s June Industrial Profit -18.8% YTD (last -20.6%)

[Truman]

Major European indices trade in positive territory.

—Equity Markets—

STOXX Europe 600: +0.6%
Germany’s DAX: +0.7%
U.K.’s FTSE 100: +0.6%
France’s CAC 40: +0.7%
Italy’s FTSE MIB: +0.6%
Spain’s IBEX 35: +0.8%

[Truman]

Germany’s GFK Consumer Climate survey recorded its first monthly decrease since falling to a record low in October with concerns about recession fueling the fall.

Germany’s July GfK Consumer Climate -25.4 (expected -23.0; last -24.4)

[Truman]

Italy’s Prime Minister Meloni confirmed yesterday’s reports that Fabio Panetta will replace Ignazio Visco as the governor of the Bank of Italy. She also expressed concerns about additional rate hikes from the ECB.

Italy’s June CPI 0.0% m/m (expected 0.1%; last 0.3%); 6.4% yr/yr (expected 6.8%; last 7.6%).
May PPI -2.3% m/m (expected -6.2%; last -4.8%); -4.3% yr/yr (expected -9.4%; last -1.5%).
April Industrial Sales -1.8% m/m (expected 0.0%; last -0.4%); -1.8% yr/yr (expected 11.3%; last 4.2%)

[Truman]

There were some reports suggesting that the European Central Bank could accelerate the pace of its asset sales.

Eurozone’s May Private Sector Loans 2.1% yr/yr (expected 2.3%; last 2.5%) and loans to nonfinancials 4.0% yr/yr (expected 3.5%; last 4.6%)

[Truman]

France’s June Consumer Confidence 85 (expected 84; last 83)

Spain’s May Retail Sales 6.0% yr/yr (expected 0.6%; last 5.7%)

Swiss June ZEW Expectations -30.8 (expected -32.3; last -32.2)

[Author]

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