Morning Briefing: Tesla rival Li Auto launches $2 billion Hong Kong share sale
Hey, moomooers! Here are things you need to know before the opening bell:
- Stock futures rose in early morning trading on Tuesday after worries about slowing growth sparked a Monday sell-off on Wall Street.
- Electric-car maker Li Auto kicked off a near-$2 billion stock offering in Hong Kong, joining a string of U.S.-listed Chinese companies in tapping investors closer to home.
Market snapshot
Stock futures rose in early morning trading on Tuesday after worries about slowing growth sparked a Monday sell-off on Wall Street.
Futures on the $道琼斯指数 (.DJI.US)$gained 134 points. $标普500指数 (.SPX.US)$futures and $纳斯达克综合指数 (.IXIC.US)$futures both edged higher.
Crypto
$比特币 (BTC.CC)$continues to drop on the second trading day of August, traded 1.79% lower than yesterday at $3,8489.8 at the time of writing. $以太坊 (ETH.CC)$were dropping 4.75%, traded at $2,488.7.
Top news
Yellen to enact steps to avoid breaching debt ceiling
The Treasury Secretary urges Congress to increase the ceiling, which went back into effect on Sunday.
RBA presses on with QE taper
The Reserve Bank of Australia will press ahead with plans to reduce its government bond buying in September, even as the economic outlook deteriorates sharply amid lockdowns in several cities.
RBNZ to further tighten mortgage lending
New Zealand's central bank said it plans to further tighten home mortgage lending as earlier curbs haven't resulted in a sufficient reduction in risky loans.
Pensions post best one-year returns in over three decades
Investments held by public pension systems, bolstered by private-equity and publicly traded stocks, posted their best returns since 1986 for the one-year period that ended in June.
U.S. factory growth held solid momentum in July
Manufacturing activity in the U.S. remained robust in July, but slowed compared with previous months as supply-chain strains continued to drag on growth. The ISM Manufacturing PMI fell to 59.5 in July from 60.6 in June. Economists were expecting 60.8.
Fintechs need to be regulated more like banks, says global regulator
Tech companies that play a critical role in payments and other areas should be subject to stricter regulatory scrutiny that considers issues beyond traditional market risks, says a paper published by a consortium of central banks and financial regulators.
Tesla rival Li Auto launches $2 billion Hong Kong share sale
Electric-car maker Li Auto kicked off a near-$2 billion stock offering in Hong Kong, joining a string of U.S.-listed Chinese companies in tapping investors closer to home.
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Key events this week
Source: CNBC, Dow Jones Newswires, Bloomberg
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$道琼斯指数 (.DJI.US)$ $标普500指数 (.SPX.US)$ $纳斯达克综合指数 (.IXIC.US)$ $特斯拉 (TSLA.US)$ $腾讯控股 (00700.HK)$
$道琼斯指数 (.DJI.US)$ $标普500指数 (.SPX.US)$ $纳斯达克综合指数 (.IXIC.US)$ $特斯拉 (TSLA.US)$ $腾讯控股 (00700.HK)$
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