© Reuters. 5 major events in today’s financial market: U.S. inflation may accelerate KKR, PLTR will announce earnings
Investing.com – Here are the top 5 things you need to know about the financial markets on Monday, August 7:
1.U.S. stock futures edge up，focus shiftPassswellingdata
U.S. stock futures rose in the premarket on Monday, as investors awaited monthly inflation data later in the week, as well as more corporate earnings reports.
Investing.com’s U.S. stock quotes show that as of 18:36 Beijing time (06:36 a.m. Eastern Time), blue-chip stocks rose 53.4 points, or 0.15%, and rose 0.25%. Up 0.37%.
Wall Street’s main indexes closed lower last week, with benchmarks and technology-heavy stocks posting their fourth straight day of losses, the longest losing streak since May. Data showing weaker-than-expected July and weaker-than-expected hardware sales by tech giant Apple (NASDAQ: ) weighed on sentiment.
The focus of this week’s economic events is the U.S. consumer price index (CPI) in July. The data may reveal a deeper level of policy that the Fed may take in the future. Meanwhile, Disney (NYSE: ) will release its fiscal third-quarter earnings on Wednesday (9th).
2.beautifulcountryPassswellingfearaccelerate
Economists predict U.S. inflation will accelerate for the first time since June 2022, a scenario that could complicate the narrative of slower price growth in the world’s largest economy.
The U.S. consumer price index (CPI) is expected to accelerate to an annual rate of 3.3% in July, up from 3.0% in the previous month. It is expected to remain at 0.2%.
The CPI data due on Thursday, which also excludes highly volatile items such as food and energy, is expected to slow to an unchanged 4.7% annual rate.
Fed officials have previously said that future policy will be “depending on the data,” so they will be watching the numbers closely.
Bringing inflation down to 2% is the Fed’s goal. Still, data since last summer suggests tightening has helped keep prices down. Policymakers, however, have signaled they are willing to raise rates further if inflation shows signs of rising again.
3.Stay tuned for earnings season, KKR、Palantirwill announce earnings today
Asset management giant KKR (NYSE: ), data analytics company Palantir (NYSE: ) and entertainment company Paramount Global (NASDAQ: ) will report their latest quarterly results on Monday.
But now, the second-quarter earnings season has come to an end. More than 84 percent of the companies in the S&P 500 have reported earnings, with nearly three-quarters of them beating Wall Street expectations, according to FactSet.
In addition, Disney will also announce its earnings this week. How CEO Bob Iger can revive Disney’s film and television business is expected to be one of the focuses, especially after “Elemental” and “Haunted Mansion” failed at the box office.
Meanwhile, reports have emerged that Bob Iger has hired two former lieutenants to explore strategic options for Disney’s high-profile sports network, ESPN.
4.“Barbie” hits the box office10100 millionDollar
Greta Gerwig’s “Barbie” has grossed more than $1 billion worldwide in just 17 days since its premiere, according to distributor Warner Bros. Discovery (NASDAQ: ).
Warner Bros. Discovery said “Barbie” had grossed $459.4 million in North America and $572.1 million overseas, while Greta Gerwig became the first woman to direct a movie that grossed more than $1 billion alone.
Warner Bros. noted that the film’s box-office receipts “beat even our most optimistic forecasts.”
In addition, “Barbie” is the sixth film since the epidemic to exceed one billion dollars in box office.
5.Oil hovers near four-month highs
Oil prices fell slightly, but remained near levels not seen since mid-April. Last week, Saudi Arabia and Russia, the world’s top oil producers, announced plans to extend production cuts for a month to further tighten global markets.
In addition to production cuts by Saudi Arabia and Moscow, investors also need to pay attention to Chinese economic data and details of economic stimulus policies this week.
As of 18:36 Beijing time (6:36 a.m. Eastern Time), Investing.com Commodity Markets showed that: it fell 1% to $81.96/barrel; it fell 0.99% to $85.39/barrel.
Last week, both U.S. oil and Brent rose for a sixth straight week, the longest winning streak since December 2021 to January 2022.
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Compiler: Liu Chuan
2023-08-07 10:42:00
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