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July 22 – Morningstar DBRS analyst Julia Specht noted in a report that the UKs public finances remain strained, and its credit quality hinges on the governments ability to implement credible economic and fiscal plans within limited fiscal space. In June, net borrowing by the UK public sector fell 33.1% year-on-year to £16 billion ($21.4 billion), but cumulative borrowing for the first few months of the fiscal year ending in June was still £2.7 billion higher than the Office for Budget Responsibilitys forecast. Specht stated, "The key to the credit assessment lies in whether new Prime Minister Burnham can advance his policy objectives without damaging fiscal credibility."Chinas year-to-date installed power generation capacity rose 10.8% in June, up from 11% previously.On July 22, at a press conference held by the Ministry of Finance, officials stated that the Ministry is making every effort to strengthen the guarantee of disaster prevention, mitigation, and relief resources, including funds, personnel, and materials. Xing Zhaohong, Deputy Director of the Department of Natural Resources and Ecological Environment of the Ministry of Finance, said: "In 2026, the central government has set aside 20 billion yuan for natural disaster relief. Since the beginning of the flood season, the central government has activated the rapid fund allocation mechanism eight times, disbursing a total of 1.19 billion yuan to disaster areas. At the same time, the central government has allocated 14.5 billion yuan through channels such as agricultural production disaster prevention and mitigation and water conservancy disaster relief funds, key transportation projects, and central budgetary investment."The yield on Japans two-year government bonds rose 4 basis points to 1.475%, the highest level since May 1995.According to Iranian state television, if the United States takes action on Iranian soil, Iran will retaliate with all its might.

S&P 500, NASDAQ Futures Higher in Pre-Market after Meta Stuns Wall Street

Alice Wang

Feb 02, 2023 16:08

The main U.S. stock index futures contracts are trading in a range during Thursday's pre-market session, with the Dow trading down for the day while the NASDAQ Composite was up about 1%.


Investors are attempting to build on the rise from yesterday, which was sparked by a mix of a widely anticipated 25-basis-point rate increase and less hawkish comments from Federal Reserve Chairman Jerome Powell. A sharp increase in Meta shares after a positive earnings announcement is contributing to the euphoric mood.


The blue chip Dow futures are now trading at 34085.00, down 63.00 or -0.18%, at 04:33 GMT. The tech-weighted NASDAQ Composite is trading at 12526.75, up 112.50 or +0.91%, while the benchmark S&P 500 Index futures contract is at 4143.50, up 11.25 or +0.27%.

Less-Hawkish, Supported by Wednesday's Positive Session comments made by Fed Chair Powell

The strong performance in all three main indices yesterday is what is providing the support early on Thursday. The NASDAQ Composite ended the regular session up 2%, while the S&P 500 recovered previous losses to conclude with a gain of 1.05%. After losing more than 500 points earlier in the day, the Dow was only able to gain a meager 0.02%.


Investor confidence that inflation is slowing down enough for the central bank to take notice fueled the sharp bounce, despite the fact that Federal Reserve Chairman Jerome Powell made no mention of a potential stop in rate rises at his post-meeting news conference.

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