US index futures are falling in pre-market this Tuesday, reverberating weak data in China and Europe, casting doubt on the world economy.

By 6:48 AM, Dow Jones futures (DOWI:DJI) were down 236 points, or 0.67%. S&P 500 futures were down 0.62% and Nasdaq-100 futures were down 0.61%. The 10-year Treasury yield was at 4.233%.

In Tuesday’s economic agenda, investors will follow retail sales at 8:30 am, in which the consensus expects a variation of 0.40% in July on a monthly basis. At the same time, the Empire State manufacturing index, which measures manufacturing conditions in New York, will be released, with a projection of a 1% retraction in August, and the price of exported goods, which has a consensus of 0.20%. At 10 am, it will be the turn of the NAHB residential housing market index, while at 11 pm a speech by Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, is expected to talk about monetary policy. At 4:30 pm, the API releases oil inventories for the past week.

In Europe, Eurozone unemployment rose to 4.2% in June, beating expectations. The Zew Index, reflecting the economic climate, saw declines in both the Eurozone and Germany, signaling a challenging recovery.

Asian markets showed mixed results after various indicators from China and Japan. China lowered its long-term lending rate to 2.50% and posted below-predicted figures on investment and production. Chinese unemployment rose to 5.3%, while retail sales and industrial production missed expectations. These results emphasize the obstacles in the Chinese economic recovery, affecting emerging markets.

In Japan, GDP grew 1.50% in June, surpassing projections, and industrial production also exceeded expectations. The dynamics of Japanese government bonds are observed as they seek growth with stable inflation. This situation impacts traditional financial strategies, affecting foreign currencies. If the Bank of Japan changes its approach to interest rates, it could pose challenges for global investors and subsequently impact Japan itself.

In the commodities market, West Texas Intermediate crude for September fell -1.12% at $81.59 a barrel. Brent crude for October fell 0.87% near $85.46 a barrel. Iron ore futures traded in Dalian, China, rose 1.58% to $101.17 a tonne.

At Monday’s close, US stocks were up, with technology stocks in particular, in an unfavorable day for Asian markets. Treasury yields declined. The economic situation in China has worsened with news indicating that the real estate company Country Garden Holdings is looking for alternatives to restructure its debt. In addition, investors are keeping an eye on forecasts related to the Federal Reserve’s decision, waiting for clues in the FOMC minutes due to be released on Wednesday. The Dow Jones rose 26.23 points or 0.07% to 35,307.63 points. The S&P 500 closed up 25.67 points, or 0.58%, at 4,489.72 points, close to the day’s high, while the Nasdaq closed up 143.48 points, or 1.05%, at 13,788,33 points.

Ahead of Tuesday’s corporate earnings, traders are watching reports from Home Depot (NYSE:HD), Sea Limited (NYSE:SE), CardinalHealth (NYSE:CAH), Paysafe (NYSE:PSFE), Elbit Systems (NASDAQ:ESLT), IHS (NYSE:IHS) , Eagle Point (NYSE:ECCC), prior to market opening. After closing, results will be released for Nu Holdings (NYSE:NU), Coherent (NYSE:COHR), Cava (NYSE:CAVA), Mercury (NYSE:MCY), Stride (NYSE:LRN), Agilent Technologies (NYSE:A), H&R Block (NYSE:HRB), among others.

Wall Street Corporate Highlights for Today

Meta Platforms (NASDAQ:META), Alphabet (NASDAQ:GOOGL) – The Biden administration has asked the US Supreme Court to review laws in Texas and Florida that limit social media moderation. Tech groups, including Meta and Alphabet, object, citing First Amendment protection. The laws are intended to prevent “censorship”.

Netflix (NASDAQ:NFLX) – Netflix is ​​testing a video game streaming service, expanding beyond mobile games. It currently offers two games in the UK and Canada. This move challenges giants like Microsoft (NASDAQ:MSFT). Previously, the company focused on games based on its properties.

Tesla (NASDAQ:TSLA) – Tesla has launched more affordable versions of the Model S and X in the US with reduced ranges, seeking to cut costs and expand sales. The new models cost about 10% less than previous versions. In other news, Tesla plans to invest in battery material production in Indonesia, tapping into local nickel reserves. Minister Luhut Pandjaitan met with Elon Musk and mentioned significant investment but no plans for a car factory. Musk will also expand Starlink in Indonesia.

PayPal (NASDAQ:PYPL) – Activist investor Elliott Investment Management liquidated its stake in payments company PayPal, as reported in a filing with the US Securities and Exchange Commission. In addition, PayPal has named Intuit Executive Alex Chriss (NASDAQ:INTU) as its new CEO, replacing Dan Schulman. The appointment, which may indicate an increased focus on mergers and acquisitions, is aimed at expanding PayPal’s presence in the small business payments market.

Amazon (NASDAQ:AMZN) – David Limp, head of devices at Amazon, will retire after 13 years. His division faced revenue challenges and significant layoffs. Since Andy Jassy became CEO in 2021, there have been several notable departures from the company.

Ford (NYSE:F) – Ford has named Peter Stern, a former Apple (NASDAQ:AAPL) executive responsible for Apple TV+, iCloud and Apple News+, to lead its new Ford Integrated Services unit. It will focus on integrating hardware, software and services, helping Ford expand digital and recurring services, similar to Apple’s approach. Stern will work alongside other former Apple professionals and focus on Ford’s BlueCruise package.

Philips (NYSE:PHG) – Exor NV (EU:EXO), affiliated with the Agnelli family, became Philips’ largest shareholder by acquiring 15% for $2.8 billion after Philips faced product recall challenges. Exor can increase its stake to 20% and will sit on Philips’ supervisory board.

BP (NYSE:BP) – BP has invested in startup Advanced Ionics, which develops technology to reduce the cost of producing green hydrogen using industrial steam. Symbion technology aims to reduce the need for electricity in the electrolysis process. BP Ventures was among several investors in a $12.5 million Series A financing in US-based Advanced Ionics.

Chesapeake Energy (NASDAQ:CHK) – Chesapeake Energy will sell its Eagle Ford assets to SilverBow Resources for $700 million, bringing a total of $3.5 billion in sales in the region. Chesapeake will focus on Marcellus and Haynesville lineups, following previous sales on Eagle Ford.

AMC Entertainment (NYSE:AMC) – AMC Entertainment announced a 10-for-1 stock split on August 24 and the conversion of preferred stock to common stock on the 25th. This decision follows a recently approved revised deal.

Salesforce (NYSE:CRM) – In early 2023, Salesforce faced criticism from activist investors. However, after good results and reforms, many reduced their holdings or withdrew completely. Starboard Value and Third Point LLC reduced their shares, while Inclusive Capital Management exited even earlier. Salesforce shares are up 57% since January.

Intel (NASDAQ:INTC), Synopsys (NASDAQ:SNPS) – Intel has expanded its partnership with Synopsys, allowing Intel customers to license technologies from Synopsys. The deal aims to accelerate chip production and strengthen Intel’s position as a chip maker, rivaling TSMC (TSM) and Samsung.

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – Taiwanese presidential candidate Lai Ching-te has stated that he will not stop TSMC from expanding globally. He sees the expansion as an economic boost for Taiwan, while ensuring TSMC’s base remains on the island.

Okta (NASDAQ:OKTA) – Goldman Sachs analyst Gabriela Borges has upgraded Okta’s stock rating to “Buy”. Borges predicts an outperformance driven by subscription revenue and 15-20% growth in annual recurring revenue. She highlighted Okta’s approach to Auth0 and potential cross-selling. Despite competition from Microsoft, Borges maintains a positive outlook. Okta will report its earnings on August 30th.

Berkshire Hathaway (NYSE:BRK.A) – Berkshire Hathaway, led by Warren Buffett, announced new investments in homebuilders such as DR Horton (NYSE:DHI), Lennar (NYSE:LEN) and NVR (NYSE:NVR). Despite the slowdown in construction sectors due to rising interest rates, low home supply spurred new construction. However, Berkshire sold more shares than it bought in 2023, including reducing its stake in General Motors (NYSE:GM).

Redfin (NASDAQ:RDFN) – Shares in real estate company Redfin gained 1.3% to $10.29 after Oppenheimer raised its valuation from Underperform to Perform without setting a price target.

Greenlight Capital (NASDAQ:GRNA) – Greenlight Capital has acquired a significant stake in Activision Blizzard (NASDAQ:ATVI) amid its pending acquisition by Microsoft. David Einhorn also bought shares in First Horizon Corp (NYSE:FHN) and Advance Auto Parts Inc (NYSE:AAP), selling his position in Global Payments Inc (NYSE:GPN).

Getty Images (NYSE:GETY) – Shares in Getty Images fell more than 18% in premarket Tuesday after disappointing quarterly results and lowering annual sales forecasts. The company reported a $4.3 million loss and a 3.3% drop in revenue. CEO Craig Peters highlighted improvements and innovations at the company.

Walt Disney (NYSE:DIS) – There is speculation in Hollywood about the next steps for Bob Iger, CEO of Disney, after comments about possible changes in the structure of the company. He hinted that some TV deals may be non-essential, piquing interest from bankers and investors. Rumors suggest possible realignments or sales of certain assets, such as ESPN or Hulu, while Disney could focus more on cinema, theme parks and streaming. Executives debate whether Iger is preparing Disney for a possible takeover by giants like Apple (NASDAQ:AAPL) or Google (NASDAQ:GOOGL).

Home Depot (NYSE:HD) – Home Depot beat Wall Street expectations for the second quarter with EPS of $4.65 on revenue of $42.92 billion, but was down 2% in annual sales, citing that the current scenario challenged its sales. Analysts had expected $4.45 on revenue of $42.23 billion. Consumers show caution in larger purchases. The company maintains its annual forecast and sees supply chain disruptions decreasing.

Nike (NYSE:NKE) – The early elimination of the US from the Women’s World Cup took big brands such as Adidas and Nike by surprise, forcing quick adaptations in marketing strategies. A crowd of 2 billion is expected for the tournament, despite time zone barriers. Brands have invested heavily in merchandise but face challenges due to changing fan preferences.

Target (NYSE:TGT) – Target expects to post its first quarterly drop in revenue in six years as consumers shift to services like travel over discretionary shopping. Inflation and reactions to the Pride collection also impacted sales.

Kraft Heinz (NASDAQ:KHC) – Miguel Patricio, CEO of Kraft Heinz, will be replaced by Carlos Abrams-Rivera in 2023. Patricio, who has sought to revitalize the brand since 2019, will remain as non-executive chairman. Abrams-Rivera faces the challenge of driving demand and regaining market share.

Clorox (NYSE:CLX) – After detecting “unauthorized activity” on its networks, Clorox took down some IT systems, impacting business operations. The company is tightening security, and although it did not detail the attack, authorities and cybersecurity experts are investigating what happened.

Discover Financial (NYSE:DFS) – Discover Financial announced the immediate departure of Roger Hochschild as CEO and President. Board member John Owen was appointed to lead the firm. A committee was established to find a permanent replacement. Discover’s stock was down 5.4% in premarket Tuesday.

Blackstone (NYSE:BX) – Earlier this year, Blackstone’s Steve Schwarzman urged executives to unite over grievances with the Blackstone Growth (BXG) division, run by Jon Korngold. BXG, initially intended to connect Blackstone to fast-growing companies and generate big profits, faced challenges after failed investments. Schwarzman and Jon Gray sought greater team discipline. BXG, part of Gray’s larger plan for Blackstone, was looking to expand into growth sectors but was faced with market shifts and questionable valuations.

JPMorgan Chase (NYSE:JPM) – Fitch Ratings analyst Chris Wolfe has warned of the potential downgrade of US banks, including JPMorgan. An industry downgrade to A+ would force over 70 banks to be rerated. Factors include Federal Reserve fees and bad debts.

Bank of America (NYSE:BAC) – In August, global investor optimism rose to the lowest pessimistic level since February 2022, according to a Bank of America survey. Managers with $545 billion in assets see slower global growth but brighter prospects.

UBS (NYSE:UBS) – UBS has agreed to pay $1.435 billion to settle US allegations related to troubled mortgage bonds from the 2008 crisis. The US Department of Justice has collected more than $36 billion in fines from institutions financial. The UBS settlement ends a 2018 lawsuit.

Hawaiian Electric (NYSE:HE) – Shares in Hawaiian Electric Industries plunged 34% on Monday following suspicions of its involvement in the deadly fires in Lahaina, Maui. While the cause remains under investigation, the company faces lawsuits. Reports suggest flaws in the company’s security measures.

Boeing (NYSE:BA) – Boeing can secure an order for 25 planes from IndiGo as the Indian airline expands internationally. While talks remain confidential, IndiGo recently ordered 500 Airbus jets and is looking to increase its global footprint by diversifying its fleet.

Embraer (NYSE:ERJ) – Embraer exceeded Q2 expectations. Francisco Gomes Neto, CEO, expressed confidence in delivering more than 80 aircraft in 2024 and expects to reach 100 by 2026. The company had a 25% increase in adjusted net income.

US Steel (NYSE:X) – US Steel saw its shares jump on Monday after Esmark offered $7.8 billion in cash, beating an earlier offer by Cleveland-Cliffs. The offer represents a 54% premium over the previous close. Esmark did not detail the financing. US Steel rejected a $7.3 billion Cleveland-Cliffs bid but invited it for future revisions.

Canoo (NASDAQ:GOEV) – Startup Canoo has closed $113 million incentive deals with Oklahoma and Cherokee Nation. She is already hiring for facilities in Oklahoma City and Pryor. Benefits include credit and tax exemption programs. Canoo reported a lower-than-expected quarterly loss due to lower research and development costs. In addition, it launched delivery vehicle 190 and posted a loss of US$70.9 million. The company collaborates with the Department of Defense and NASA.

MSCI (NYSE:MSCI) – MSCI will buy the remaining 66% of Burgiss Group for $697 million, expanding its data analysis footprint of private assets. This acquisition spans data from $15 trillion in global investments. The transaction is expected to close in the 4th quarter of 2023.

Catalent (NYSE:CTLT) – Pharmaceuticals Catalent, under pressure from Elliott Investment Management, attracted interest from activist investors Corvex Management and Sachem Head Capital in Q2. After playing a role in vaccine production, Catalent saw its shares and revenue drop. Catalent’s share price closed at $45.29 on Monday, significantly down from $110 when it traded a year ago.

BioXcel (NASDAQ:BTAI) – BioXcel Therapeutics will reduce its workforce by more than 50% and focus on developing the drug BXCL501 for domestic agitation. That move caused a significant drop in stocks on Monday. The company plans to cut expenses and rethink strategies.

Delcath Systems (NASDAQ:DCTH) – Shares in Delcath Systems surged 64.42% in premarket trading Tuesday after the FDA approved the Hepzato Kit to treat metastatic uveal melanoma in certain patients. This approval releases more funding for the company, with the product expected to be commercialized in the fourth quarter.

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