Morning Brew July 30

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 2^nd 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.

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