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According to local Iranian media reports, an explosion occurred in Piroozi, eastern Tehran, and the cause is still unclear.Market news: U.S. House Speaker Johnson said the newly passed super bill is a major boost to the economy. Two other bills are planned to be introduced next year.On July 7, U.S. Treasury Secretary Bessant believed that Musk should stay away from politics and focus on managing the companies he controls. Musk previously posted on social media that he would create a new party called the American Party to avoid bankruptcy in the United States after the U.S. Congress passed a "big and beautiful" bill that included tax cuts and spending. Bessant said that the boards of directors of companies managed by Musk, including Tesla and SpaceX, may want Musk to focus on managing the company, or may not like his announcement of forming a party. He also believes that if Musk really forms a party, he may win some votes because some voters may like the work of the Department of Government Efficiency (DOGE) led by Musk, rather than Musk himself.July 7 news: On July 6, local time, Russian President Vladimir Putin attended the 17th BRICS Summit via video. In his speech, he proposed a number of initiatives, including building an independent settlement and custody system on the BRICS platform and vigorously promoting the expansion of local currency settlement. Putin said that in 2024, the ruble and the currencies of "friendly countries" accounted for 90% of Russias settlements with other BRICS countries; at the same time, he proposed to increase the scale of two-way investment between member countries and proposed to create a new BRICS investment platform.Governor of Texas, USA: Floods in Texas have caused 69 deaths, 41 missing, and others may be missing.

Light Selling Ahead of CPI Data, Earnings Season

Cory Russell

Jul 12, 2022 14:56

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Late in the trading day on Monday, September E-mini S&P 500 Index futures were trading lower as investors prepared for the release of the US Consumer Price Index (CPI) data on Wednesday and the formal start of the second-quarter earnings season. Investors reduced risk throughout the day as China ordered the closure of the first casino in Macao in more than two years to stop the COVID-19 virus from spreading.


September E-mini S&P 500 Index futures are now trading at 3882.00, down 19.25 or -0.49 percent, at 17:55 GMT. The S&P 500 Trust ETF (SPY) is down $4.58 or 1.18 percent, trading at $384.09.


Communication services, one of the S&P 500's 11 main industries, had the highest percentage decline while utilities led gainers.


The Consumer Price Index (CPI) is predicted to increase on Wednesday from last month's reading of 8.6 percent to 8.8 percent. The start of the second quarter reporting season is anticipated to come later in the week with results from major banks including JPMorgan Chase & Co, Citigroup Inc, and Wells Fargo & Co.