US futures are pointing to a lower open today. European equity markets have opened in the negative territory, following weaker levels in Asian markets. Nasdaq experienced largest one-day drop since December 2022. Sell-off is attributed to disappointing tech earnings takeaways. Yen continues to strengthen ahead of next week's BOJ meeting, rallying to its highest against US dollar since early May. Pick-up in Fed rate cut expectations also comes as the BOJ nears decision to hike again.

Companies Mentioned: Disney, Amazon, Comcast, Warner Bros. Discovery, Edwards Lifesciences

S&P futures are indicating a lower open today, down (0.7%) following weak sessions in Asia. The top stories driving the global market today are the recent U.S. tech earnings, with Tesla and Alphabet both posting mixed results, weighing on investor sentiment. Tesla shares are down (8%) after hours following a bottom-line miss. The company's operating margin was weighed down by price cuts amid weaker EV demand and AI-driven rise in expenses. Elon Musk also confirmed the delay of the Robotaxi event to 10-Oct. Alphabet shares fell (2%) after hours despite Q2 revenue topping forecasts. AI-related demand underpinned Cloud revenue, though capex came in a bit higher than expected.

Companies Mentioned: Alphabet, Tesla, FTAC Emerald Acquisition

S&P futures are indicating a lower open today, down (0.37%) following mixed trading in the Asian markets. European equity markets are softer in early trades. US politics continues to dominate press coverage, as Democrats rally around Vice President Kamala Harris for the 2024 presidential election. Momentum behind her candidacy had been building since President Biden dropped out of race, with Harris nabbing support of several Democrats, including former House Speaker Pelosi. Though Harris has secured enough delegates to clinch nomination, Trump is still favored to win. Political analysts have noted she still faces an uphill battle in general election against Trump and has trailed Trump in nearly every national and battleground state poll this year. Trump's front-runner status leaves the market's focus on his economic and trade policies.

Companies Mentioned: United Parcel Service, Alphabet, Wiz, Warner Bros. Discovery, Amazon, Archrock

US futures are indicating a higher open today. European equity markets are trading higher, following mostly lower finishes in Asian markets on Monday. Market attention today is focused on the recent withdrawal of President Biden from the presidential race, endorsing Vice President Harris as the Democratic nominee. This development has raised questions about the potential impact on the election trajectory, with Trump still favored to win. China unexpectedly cut the 1-year and 5-year loan prime rates by 10 basis points and the 7-day reverse repo rate by 10 basis points, the first reduction since August. Discussions continue on Bank of England rate cut expectations for August amid mixed UK data last week.

Companies Mentioned: Tellurian, Woodside Energy Group, NVIDIA

US futures are indicating a lower open, European equity markets are trading lower, following Asian markets are also trading lower on Friday. Market attention today is that Donald Trump has formally accepted the presidential nomination. He insisted his policies will lower inflation, interest rates, and national debt. He reiterated promises to lower energy costs by drilling for more oil, make permanent the 2017 tax cuts, end the EV mandate, gut funding for green projects, and protect social security and Medicare. There is renewed speculation that Biden will soon exit the race. Numerous PC users worldwide, including airlines and the London Stock Exchange, have been affected due to Windows crashes this morning.

Companies Mentioned: Microsoft, R1 RCM, Surgery Partners

US futures are indicating a higher open today. European equity markets have opened mixed in choppy trades, following mixed to lower levels in Asian markets. Japanese yen volatility still in focus. US-Japan yield gap narrowed recently as markets dial up Fed rate cut expectations and BOJ nears decision on July rate hike. Trump's criticism of weak yen also a factor putting momentum behind yen. ECB widely expected to leave key policy settings on hold today.

Companies Mentioned: Warner Bros. Discovery, Ducommun, Hyatt Hotels

S&P futures are indicating a lower open today, down (0.64%) after mixed sessions in Asia. European equity markets are also softer, following lower finishes on Tuesday. The top macro stories driving the global market today are mixed macro data from Asia and Europe, alongside renewed geopolitical tensions following former President Trump’s comments on Taiwan. UK inflation remained at the BoE's target as June CPI came ahead of estimates at +2%, though services prices are still elevated. The BoE's August rate cut expectations dipped to 25% from 50% prior to the update. New Zealand’s Q2 inflation came in below forecasts, softening to +0.4% q/q. Former President Donald Trump’s comments on Taiwan defense costs have sparked geopolitical concerns, raising questions about potential changes to U.S. policy should he return to office.

Companies Mentioned: Gitlab, Primerica, Eni, KKR, Blackstone

S&P futures are indicating a higher open, up +0.2%, as markets continue to process the political implications of the recent assassination attempt on former President Donald Trump. Market's attention today is on the takeaways from China’s Q2 GDP and June activity data, which highlight persistent weakness in domestic demand and the property market. The weaker-than-expected GDP has renewed doubts about the achievability of the government's annual GDP target of ~5%, leading to calls for stronger policy support.

Companies Mentioned: KKR, Verizon, Match Group, Microsoft, Alphabet, Lineage Logistics

US futures are indicating a higher open today. European equity markets are trading lower, following mixed finishes in Asian markets on Monday. Market attention is on the fallout from the assassination attempt on former president Donald Trump over the weekend. This incident has sparked significant discussion about its potential impact on the upcoming election, with the odds predicting a higher probability of Trump’s winning. This is expected to bolster the 'Trump trade,' potentially leading to a steeper yield curve and a stronger dollar.

Companies Mentioned: Alphabet, Goldman Sachs, Boeing

US futures are indicating a flat open today. European equity markets are trading higher, following Asian markets finished mixed on Friday. Cooler-than-expected US CPI data added momentum to the disinflation trajectory. This firmed market expectations of a September rate cut, with some even pricing in a third cut by year-end. Media continues to focus on whether US President Biden will remain 2024 presidential race.

Companies Mentioned: FMC Corp, SoftBank Group, Boeing