Morning Briefing: Elon Musk backed Starlink IPO once cash flow is predictable

Stock futures rose mildly after the market's comeback rally hit a speedbump on Wednesday.

Futures on the Dow Jones Industrial Average added 177 points in early morning trade Thursday. S&P 500 futures and Nasdaq 100 futures both traded in positive territory.

The S&P 500 snapped a two-day winning streak Wednesday, closing the regular session 0.1% lower. The Dow also shed 71.34 points, or 0.2%. Meanwhile, the Nasdaq Composite gained 0.1% to squeeze out another record closing high.

On Wednesday, bitcoin surged 18%, climbing back above the $34,000 mark in early morning trading, according to Coin Metrics data. It last changed hands at $33,641.27, up 3% on the day.
Michael Burry - hedge fund manager, investor, and physician- has repeated his bearish stance on days after issuing a grim warning, which prophesied losses on trendy assets approaching “the size of countries.”

Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday he has moved forward his expectations for a central bank rate rise to next year and that the time is coming soon for the Fed to pare its bond buying stimulus efforts.

The Treasury secretary urged Congress to raise or suspend the borrowing limit, or debt ceiling, to keep paying the government's bills in full, saying a default would be unthinkable.

Members of a bipartisan group negotiating a roughly $1 trillion infrastructure proposal said they had agreed to a framework for a package, with plans to meet with President Biden on Thursday to complete a deal.

German business sentiment improved again in June, reaching a more than two-year high, as reopening boosted firms' optimism on current conditions and expectations.

Sentiment in French manufacturing stabilized in June after rising for six consecutive months as pandemic-related restrictions eased.

Shares in mining companies operating in Peru have fallen since a general election in the country in which a far-left nationalist appears to have won the presidency, reflecting uncertainty over his approach to the industry.