US EARLY MORNING: Equity futures stabilise after geopolitical tumult; yields higher as Fed officials emphasise fight against inflation

US equity futures are mixed, but have settled in wake of Tuesday’s geopolitical tensions between US/China. RTY +0.3%, YM +0.2%, ES +0.1%, NQ -0.2%. Treasury yields are a touch higher and the shape of the curve is narrowing as Fed officials continue to push back on market expectations of a policy pivot, reiterating that the central bank still has work to do on inflation. Crude benchmarks are lower ahead of OPEC’s JMMC and OPEC+ meetings; API energy inventory data for the week reported a surprise crude stock build, while products drew down slightly. Meanwhile, OPEC and its partners are expected to keep output for September fairly steady, though reports suggest that there are risks of a small further easing in supply curbs. The Day Ahead features more Fedspeak, by way of 2023 voters Kashkari and Harker, while 2024 voter Barkin will also deliver remarks. The data docket will focus on the Services ISM to see if it matches the ‘Goldilocks’ manufacturing ISM report released earlier in the week. EMFX traders will note the BCB rate decision after the close. Full Day Ahead here

TECH:

COMMUNICATIONS:

CONSUMER CYCLICAL:

INDUSTRIALS :

ENERGY:

HEALTH CARE :

Exact Sciences Corporation (EXAS) - Q2 EPS -0.94 (exp. -1.07), Q2 revenue USD 521.6mln (exp. 497.5mln). Lowers FY22 revenue outlook to USD 1.980-2.022bln (exp. 2.02bln, prev. gudiance 1.985-2.032bln).

FINANCIALS:

03 Aug 2022 - 09:24- Research Sheet- Source: Newsquawk

USDNancy PelosiChairmanFederal ReserveSBUXPYPLOPECInflationBrentEAEURUnited StatesRNG.USCGNX.USEA.USTTM.USTWTR.USSBUX.USCZR.USOI.USBOSSY.USF.USTSLA.USAMKBY.USRYCEY.USWCN.USCHK.USPRU.USEXAS.USGILD.USSCGLY.USHSBC.USOXY.USAMD.USIFNNY.USMCHP.USMSTR.USGOOG.USPrudential Financial IncLife CorpSociete Generale SASEDG.USPRUESCentral BankInstitute for Supply ManagementTECHAdvanced Micro Devices IncMicrochip Technology IncMCHPSoftwarePAYCGOOGGoogle IncRingCentral IncCognex CorpSolarEdge Technologies Inc.MTCHElectronic Arts IncTwitter IncMediaStarbucks CorpAirbnb IncABNBCaesars Entertainment CorpCZRHugo Boss AGTaiwanFTSLABMWSpainWaste Connections IncChesapeake Energy CorpOccidental Petroleum CorpOXYGilead Sciences IncGILDExact Sciences CorpPaypal Holdings IncPYPL.USChinaAsian SessionResearch SheetEU SessionHighlightedDataGeopoliticalAMDNorth AmericaAsia

Subscribe Now to Newsquawk

Click here for a 1 week free trial

Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: