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Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note.
—Equity Markets—
Japan’s Nikkei: -0.3%
Hong Kong’s Hang Seng: -1.6%
China’s Shanghai Composite: -0.7%
India’s Sensex: -0.1%
South Korea’s Kospi: -0.6%
Australia’s ASX All Ordinaries: -0.3%China’s Caixin Services PMI returned to its lowest level since January, though at 53.9, it remained in expansionary territory.
China’s June Caixin Services PMI 53.9 (expected 56.2; last 57.1)
China’s Ministry of Commerce announced that foreign entities will have to request permission to export gallium and germanium from China.
There was growing speculation that Australia’s Secretary of the Department of Finance Wilkinson will replace Governor Lowe at the helm of the Reserve Bank of Australia.
Australia’s June Services PMI 50.3 (expected 50.7; last 52.1). May Retail Sales 0.7% m/m, as expected (last 0.0%).
June AIG Manufacturing Index -19.8 (last -5.1)
June AIG Construction Index 10.6 (last -6.6)Major European indices trade in the red.
—Equity Markets—
STOXX Europe 600: -0.7%
Germany’s DAX: -0.7%
U.K.’s FTSE 100: -0.8%
France’s CAC 40: -0.9%
Italy’s FTSE MIB: -0.4%
Spain’s IBEX 35: -0.7%Hong Kong’s June Manufacturing PMI 50.3 (expected 51.5; last 50.6)
India’s June Nikkei Services PMI 58.5 (expected 60.2; last 61.2)
Singapore’s May Retail Sales -0.2% m/m (expected 0.1%; last 0.5%); 1.8% yr/yr (expected 4.0%; last 3.7%)
Services PMI readings from Germany, U.K., France, Italy, and Spain decelerated from their May levels, but only France’s reading fell into contraction.
Eurozone’s June Services PMI 52.0 (expected 52.4; last 55.1)
Germany’s June Services PMI 54.1, as expected (last 57.2)
U.K.’s June Services PMI 53.7, as expected (last 55.2)
France’s June Services PMI 48.0, as expected (last 52.5)
Italy’s June Services PMI 52.2 (expected 53.0; last 54.0)
Spain’s June Services PMI 53.4 (expected 55.5; last 56.7)Eurozone’s May PPI -1.9% m/m (expected -1.8%; last -3.2%); -1.5% yr/yr (expected -1.3%; last 0.9%).
France’s May Industrial Production 1.2% m/m (expected -0.2%; last 0.8%).
Spain’s May Industrial Production -0.1% yr/yr (expected -0.5%; last -1.0%).UPS (UPS 179.00, -4.77, -2.6%): Teamsters union tweets “Around 4AM, UPS walked away from the bargaining table after presenting an unacceptable offer to the Teamsters that did not address members’ needs. The UPS Teamsters Nat’l Negotiating Committee unanimously rejected the package
Rivian Automotive (RIVN 20.85, +1.27, +6.5%): Amazon (AMZN) rolls out first electric delivery vans from Rivian in Europe
Amazon.com (AMZN 129.72, -0.50, -0.4%) and Microsoft (MSFT 335.53, -2.46, -0.7%): US wants to restrict Chinese access to cloud computing, according to the WSJ
The S&P 500 futures are down 20 points and are trading 0.5% below fair value.
The Nasdaq 100 futures are down 70 points and are trading 0.6% below fair value.
The Dow Jones Industrial Average futures are down 159 points and are trading 0.5% below fair value.The 2-yr Treasury note yield is down two basis points to 4.90%
The 10-yr note yield is up one basis point to 3.87%.The U.S. Dollar Index is flat at 103.04.
Energy complex futures are moving higher.
WTI crude oil futures are up 2.4% to $71.52/bbl and natural gas futures are up 0.6% to $2.72/mmbtu.
Dow 34,288.64 -129.83 -0.38%
S&P 500 4,446.82 -8.77 -0.20%
Nasdaq 13,791.65 -25.12 -0.18%
VIX 14.18 0.61 4.50%
Gold 1,923.30 -6.20 -0.32%
Oil 71.91 2.12 3.04%
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