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Market news: Tesla (TSLA.O), Amazon (AMZN.O), and Oracle (ORCL.N) plan to invest in the construction of a data center in Bolivia.Hang Seng Index futures closed up 0.12% at 25,818 points in overnight trading, a premium of 44 points.Flight tracking data shows that some flights are being diverted to avoid Ankara Airport in Türkiye.The Central Bank of Peru said it bought $140 million in the spot market.December 24th - According to the minutes of Tuesdays meeting, prior to the December 10th interest rate decision, the Bank of Canadas Governing Council unanimously agreed that it was difficult to predict whether the next interest rate move would be a hike or a cut. The seven-member interest rate decision committee concluded that two key reasons were the unpredictability of US trade policy and the recent volatility in economic data. At the December meeting, the committee agreed to maintain the interest rate at 2.25%, believing that this level was appropriate to keep inflation near the central banks 2% target, given that the current economic outlook was largely in line with expectations. The Bank of Canada stated that it was prepared to take further action if necessary, whether to curb price increases or boost the weak economy. Money markets predicted that the Bank of Canadas next move would be a 25 basis point rate hike, possibly as early as October 2026. The minutes also showed that the Governing Council considered the 2026 review of the USMCA (United States-Mexico-Canada Agreement) a "significant risk," and the uncertainty of the outcome could dampen business investment.

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%.