Morning Brew July 30

Morning Brew July 30

Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Amazon and Robin Hood disappoint - Inflaion in focus


Good Morning

Equities could rise yesterday, the Dow closed up 0.4%, the S&P 0.4% and the Nasdaq 0.1%. Tesla was one of the largest drivers gaining almost 5%. After the bell, Amazon disappointed with revenue and outlook and shares fell as much as 7% in the aftermarket.

Robin Hood disappointed in the IPO, giving up 8%, one of the worst-performing IPOs of companies with a value of more than 10 bio.

Risk came under pressure in the Asian session and Asian shares are suffering the biggest monthly drop March 2020, the Hang Seng loses 10% in July.

Currently the Nasdaq 100 Future is down 1.4%, the S&P500 0.9% and the Dax -0.5.

The USD Index fell to below 92 to currently trade at 91.90, 10 year yields remain subdued at 1.24. Gold and Silver rise to 1828 and 25.55, EURUSD is within reach of the 1.19 at 1.1877, GBPUSD 1.3940 and Bitcoin near the 40000.

Earnings and international CPI and GDP data will be released today, along with a number of 2nd tier earnings.

After US Inflation at 6.1% and German consumer prices up more than 3%- levels not seen since the 1980s and 2008 , the EU HICPat 11 will be of particular interest. Christine Lagarde has stated the ECB would accept an overshoot in inflation but discord can be expected.  The Bundesbank will not be happy to accept broader inflation above 2%.

Earnings today: BNP Paribas SA Hitachi Ltd Takeda Pharmaceutical Co, KDDI, Linde , Aon, Caterpillar, Siemens Healthineers, Charter Communications, Illinois Tool Works Colgate-Palmolive, Exxon Mobil, IDEXX Laboratories , Abbvie Chevron Corp, Johnson Controls Enbridge, Procter & Gamble, Kweichow Moutai.

Local Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

30 Jul 2021

01:30

Japan

Jobs/Applicants Ratio

Jun

1.10

30 Jul 2021

01:30

Japan

Unemployment Rate

Jun

3.0%

30 Jul 2021

01:50

Japan

Industrial O/P Prelim MM SA

Jun

5.0%

30 Jul 2021

07:30

France

GDP Preliminary QQ

Q2

0.8%

30 Jul 2021

08:00

Germany

GDP Flash QQ SA

Q2

2.1%

30 Jul 2021

08:00

Germany

GDP Flash YY NSA

Q2

10.0%

30 Jul 2021

08:00

Denmark

Unemployment Rate

Jun

30 Jul 2021

08:45

France

CPI (EU Norm) Prelim YY

Jul

30 Jul 2021

09:00

Spain

Estimated GDP QQ

Q2

2.1%

30 Jul 2021

09:00

Switzerland

KOF Indicator

Jul

30 Jul 2021

09:00

Switzerland

Official Reserves Assets CHF

Jun

30 Jul 2021

09:00

Austria

GDP Growth QQ Prelim

Q2

30 Jul 2021

10:00

Italy

GDP Prelim QQ

Q2

1.3%

30 Jul 2021

10:00

Italy

GDP Prelim YY

Q2

15.8%

30 Jul 2021

11:00

Italy

CPI (EU Norm) Prelim MM

Jul

30 Jul 2021

11:00

Italy

CPI (EU Norm) Prelim YY

Jul

30 Jul 2021

11:00

Euro Zone

HICP Flash YY

Jul

2.0%

30 Jul 2021

11:00

Euro Zone

HICP-X F&E Flash YY

Jul

0.9%

30 Jul 2021

11:00

Euro Zone

GDP Flash Prelim YY

Q2

13.2%

30 Jul 2021

11:00

Euro Zone

GDP Flash Prelim QQ

Q2

1.5%

30 Jul 2021

11:00

Euro Zone

Unemployment Rate

Jun

7.9%

30 Jul 2021

12:00

Italy

CPI (EU Norm) Prelim MM

Jul

30 Jul 2021

12:00

Italy

CPI (EU Norm) Prelim YY

Jul

30 Jul 2021

14:30

United States

Consumption, Adjusted MM

Jun

0.5%

30 Jul 2021

14:30

Canada

GDP MM

May

30 Jul 2021

16:00

United States

U Mich Sentiment Final

Jul

81.3

Refinitiv

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