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Kawasaki Heavy Industries of Japan: A subsidiary has won a $1.5 billion contract with the New York City Department of Transportation to supply 378 subway cars.November 5th, Futures News: Economies.com analysts latest view: WTI crude oil futures fell in the previous trading day, influenced by downward pressure from the continued absence of the EMA50, which strengthened the dominance of the main short-term downtrend, and its movement is consistent with the trendline supporting this downtrend. Note that after the oversold condition was resolved, the Relative Strength Index (RSI) began to show a negative crossover, which increased downward pressure on prices and increased the likelihood of continued declines in the coming trading sessions.November 5th, Futures News: Economies.com analysts latest view: International spot gold closed lower in the previous trading day, breaking below the key support level of $3950, which was the target level anticipated in our previous analysis. Meanwhile, with gold prices remaining below the 50-day moving average, downward pressure persists, further solidifying the stability of the bearish corrective trend, and gold prices are currently trading along the support trendline of this move. Although the Relative Strength Index (RSI) has reached oversold levels, the emergence of negative signals indicates weakening bullish momentum and confirms the dominance of sellers in the current trading.The bid-to-cover ratio for the Japanese 10-year government bond auction was 2.97, lower than the 3.34 of the previous auction in October.United Parcel Service (UPS.N): We will be suspending parcel sorting operations at Worldport tonight.

Dow Futures Decline Ahead of Fed Rate Hike; Earnings Season Accelerates

Charlie Brooks

Jul 25, 2022 11:20

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Following a strong week for key U.S. indices, U.S. stock futures were neutral on Sunday evening as market participants prepared for the busiest week of corporate earnings. The Federal Reserve's interest rate announcement on Wednesday is expected to contain additional rate increases.


At 7:10pm ET (11:10pm GMT), Dow Jones Futures and S&P 500 Futures were down 0.1 percent, while Nasdaq 100 Futures were up 0.1 percent.


After concluding its two-day policy meeting on Wednesday, it is widely anticipated that the Federal Reserve will announce a 75 basis point rate hike the following week. Apple Inc (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), 3M Company (NYSE:MMM), Boeing Co (NYSE:BA), Forward Industries Inc (NASDAQ:FORD), and Intel Corporation (NASDAQ:INTC) are also slated to report quarterly results.


On the statistics front, the GDP estimate for the second quarter is expected to show growth of 0.4%, reversing the decline of 1.6% in the previous quarter. In addition, CB consumer sentiment, new and pending home sales, durable goods orders, and the Chicago, Dallas, Richmond, and Kansas Fed Manufacturing indexes will be monitored closely.


Key benchmark indices sank on Friday as a result of Snap Inc.'s weaker-than-anticipated earnings (NYSE:SNAP). The Dow Jones Industrial Average lost 137.61 points, or 0.4%, to reach 31,893. The S&P 500 slid 0.9% to 3,961.6, while the NASDAQ Composite dropped 1.87% to 11,834.11. The Dow increased by 2% for the week, while the S&P 500 and Nasdaq rose by 2.6% and 3.3%, respectively.


Following the release of earnings, Snap Inc (NYSE:SNAP) shares plunged 39.1% among equities.


Twitter Inc (NYSE:TWTR) climbed 0.8% despite posting below-consensus earnings, revenue, and user growth.


Verizon Communications Inc (NYSE:VZ) shares slumped 6.7% on earnings that fell short of Wall Street's forecasts.


On the bond markets, United States 10-Year interest rates were 2.752%.


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