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    Stock futures today: Live updates

    An Hour Ago

    Europe stocks higher

    European stocks were cautiously higher in early trade, with the benchmark Stoxx 600 index gaining 0.9%.

    France’s CAC 40 climbed 0.14%, though the U.K.’s FTSE 100 and Germany’s DAX were lower by 0.07% and 0.04%, respectively.

    13 Hours Ago

    Odds of more Fed rate hikes in 2H fade after June inflation report

    The odds that the Federal Reserve will raise rates again, after its next meeting on July 26, have faded on the back of Wednesday’s weaker-than-expected consumer price report for June.

    According to the CME FedWatch tool, interest rate traders still see a 95% certainty that the central bank lifts its benchmark fed funds rates a quarter point, to 5.25%-5.50%, on July 26. But after that, things get dicey.

    The chance that the Fed will go another quarter point at its September meeting (it skips August), has fallen to 13.3%, down from 22.3% on Tuesday and 18.1% a week ago. Odds that fed funds will stand a half point higher by the end of the Fed’s Nov. 1 meeting are now 26.5% compared with 36.2% yesterday and 31.6% one week ago.

    By the time of the Fed’s last policy meeting of the year, on Dec. 13, odds that rates will be a half point higher than today’s 5.00%-5.25%, have slumped to 20.8% now from 32.4% on Tuesday and 28% one week back.

    Meanwhile, the odds that the Fed will have reversed this month’s rate increase by yearend have risen to 14.9% from 10.2% yesterday and 12.6% last week.

    — Scott Schnipper

    4 Hours Ago

    China trade surplus lower than expected in June, both imports and exports fall

    China’s trade surplus for June came in at $70.62 billion in June, higher than the $65.81 billion recorded in May, but lower than the $74.8 billion expected by economists polled by Reuters.

    Exports and imports also fell more than expected, with exports dropping 12.4% from a year ago and imports 6.8% lower compared with the same period last year.

    Lu Daliang, a spokesperson for China’s customs bureau, said at a press conference Thursday that China’s trade still faces rather great pressure in the second half of the year, partly due to high inflation in developed countries and geopolitics.

    — Lim Hui Jie

    4 Hours Ago

    Wuxi Biologics leads Hang Seng as Hong Kong stocks surge over 2%

    Hong Kong’s Hang Seng Index was the best performing Asian benchmark index on Thursday, gaining about 2.5% and led by health-care and basic materials stocks.

    R&D company Wuxi Biologics was the top gainer on the index, surging 8.67%, while other companies leading the index also include online healthcare platform JD Health and Alibaba Health Information Technology, a subsidiary of the larger Alibaba Group.

    Both stocks gained 8.66% and 6.70% respectively on Thursday.

    7 Hours Ago

    South Korea holds rates at 3.5%, in line with expectations

    South Korea’s central bank held its benchmark interest rate unchanged at 3.5%, the fourth straight meeting the Bank of Korea has done so after last hiking rates in January.

    The bank wrote that although the country’s inflation rate continues to slow down, it is expected to rise above the BOK’s target level of 2% “for a considerable period of time.”

    The BOK also forecasts that inflation will rise to around 3% after August, and added the need for an additional hike will be judged “while assessing the changes in domestic and external policy conditions.”

    South Korea’s inflation rate came in at 2.7% for June, and is at its lowest level since September 2021.

    — Lim Hui Jie

    8 Hours Ago

    New Zealand factory sees steeper contraction in June

    New Zealand’s factory activity saw a steeper contraction in June, with the manufacturing purchasing managers index standing at 47.6, lower than the 48.9 recorded in May.

    The reading means that New Zealand’s manufacturing sector has stayed in contraction territory for the fourth straight month, and is at the lowest level of activity since November 2022.

    A PMI reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction.

    — Lim Hui Jie

    9 Hours Ago

    Federal Trade Commission will appeal to prevent Microsoft-Activision deal

    The Federal Trade Commission filed to appeal against a federal judge’s decision that would have helped pave the way for Microsoft to acquire Activision Blizzard.

    The FTC’s move follows a day after a federal judge in San Francisco denied the agency’s motion for a preliminary injunction to block the $68.7 billion deal. The FTC deems the acquisition to be anticompetitive, arguing that Microsoft may make some of its games exclusive to its own consoles or diminish the experience of Activision games on other services.

    The two companies are trying to close the transaction by July 18.

    Read more about the FTC’s appeal here.

    Shares of Activision are down 0.5% in extended trading, while Microsoft shares are flat.

    Darla Mercado, Jordan Novet

    9 Hours Ago

    Morgan Stanley’s Brian Weinstein anticipates falling growth in the second half. How to play it

    Expect growth to slow and inflation stick around later in the year, according to Morgan Stanley Investment Management’s Brian Weinstein.

    “I think inflation – not in the next two or three months, but when we get toward the fourth quarter – will be sticky and I think growth will start to fall because the Fed’s raised rates a lot and we haven’t seen the effects yet,” the firm’s head of fixed income said on CNBC’s “Closing Bell” Wednesday.

    That means investors should have a combination of cash and carry, Weinstein said. He highlighted bank loans, emerging markets and high yield.

    Once the 10-year Treasury note yield surpasses 4%, investors may want to consider adding duration to their fixed income portfolios, Weinstein added. Duration is a measurement of a bond’s price sensitivity to changes in interest rates, and issues with longer maturities tend to have greater duration.

    Darla Mercado

    10 Hours Ago

    Viasat sinks 20% after disclosing issue with new satellite

    Viasat shares sank nearly 20% in extended trading after the company revealed an issue with its recently launched communications satellite.

    The company said Wednesday that a malfunction occurred during the reflector deployment process which could inhibit the performance of its Viasat-3 Americas satellite launched in April.

    “We’re disappointed by the recent developments,” Viasat CEO Mark Dankberg said in a statement.

    — Michael Sheetz, Samantha Subin

    10 Hours Ago

    Disney extends CEO Bob Iger’s contract through 2026

    Disney shares rose slightly in overnight trading after the entertainment company extended its contract with CEO Bob Iger through 2026.

    Earlier this year, he told CNBC that he had no plans of staying on longer than two years in the position. He rejoined Disney as CEO last year following Bob Chapek’s abrupt departure, with a contract slated to end in 2024.

    — Sarah Whitten, Samantha Subin

    11 Hours Ago

    Stock futures open marginally higher

    Stock futures opened slightly higher in overnight trading Wednesday.

    Futures tied to the S&P 500 rose 0.08%, while Nasdaq 100 futures added 0.14%. Futures connected to the Dow Jones Industrial Average gained 27 points, or 0.08%.

    — Samantha Subin



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