Morning Briefing: Stocks try to round out strong July as futures fall

Moomoo Breakfast US joined discussion · Jul 30, 2021 17:47

Morning Briefing: Stocks try to round out strong July as futures fall

Hey, moomooers! Here are things you need to know before the opening bell:

- U.S. stock futures fell early Friday as a soft earnings report from Amazon threatened to dampen an otherwise strong month ahead of July’s final day of trading.

-The Fed will receive the latest iteration of its preferred inflation gauge, the personal consumption expenditures price index, Friday morning at 8:30 a.m. ET.

Market snapshot

Futures contracts tied to the major U.S. stock indexes fell early Friday as a soft earnings report from Amazon threatened to dampen an otherwise strong month ahead of July’s final day of trading.

The $NASDAQ 100 Index (.NDX.US)$ futures fell 1.30%, while those tied to the $S&P 500 Index (.SPX.US)$ shed 0.82%. $Dow Jones Industrial Average (.DJI.US)$ futures dipped 152 points.

Source: Bloomberg

Crypto

$Bitcoin (BTC.CC)$ was down 2.51% at $38,536.14 at 5:20 AM EDT.

$Ethereum (ETH.CC)$ was down 0.98% at $2,334.69 at 5:20 AM EDT.

$XRP (XRP.CC)$ was up 0.87% at $0.72 at 5:20 AM EDT.

Source: moomoo

Top news

U.S. stock futures and global indexes decline

U.S. stock futures and international indexes fell on the final trading day of the week after economic data on Thursday suggested that growth was set to slow.

U.S. import surge overwhelms warehouse space near ports

Warehousing near Southern California's ports is increasingly hard to find. 'You can literally count on your hand at best how many spaces are available,' says DHL Supply Chain's head of real estate in the Americas.

German economy grows at a slower-than-expected pace

Germany's economy grew in the second quarter, but missed expectations., according to a first estimate published by the Federal Statistical Office.

Glynn's Take: RBA will choose the path of least regret and delay GE taper

Around the Reserve Bank of Australia's board table on Tuesday, various options will be discussed. Given the magnitude of the hit to GDP growth in the third quarter, it seems unlikely the central bank will remain mute.

China's food market stable despite Henan floods

Widespread flooding in central China's Henan province only had a partial and short-term impact on the country's food market, China's Ministry of Agriculture and Rural Affairs said.

$Procter & Gamble (PG.US)$ CEO David Taylor to step aside

He will be succeeded on Nov. 1 by his top deputy, Jon Moeller, who has been P&G's finance chief and was promoted to chief operating officer.

Earnings & key events this week

The week’s deluge of earnings reports continued after the closing bell Thursday, with e-commerce giant $Amazon (AMZN.US)$ and social media platform $Pinterest (PINS.US)$ providing profit updates to investors.

Read more:
AWS fueled Amazon's profit run, but the company's sales missed expectations
Pinterest stock plunges after saying U.S. users are logging off

The Fed will receive the latest iteration of its preferred inflation gauge, the personal consumption expenditures price index, Friday morning at 8:30 a.m. ET.