Stock Market Update
06-Jul-26 09:00 ET
Global markets mostly lower
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +28.00. Nasdaq futures vs fair value: +391.00.
The S&P 500 futures currently trade 28 points above fair value.
Equity indices in the Asia-Pacific region began the week on a mixed note. Japanese debt faced some pressure ahead of tomorrow's 30-yr JGB auction. Apple supplier Hon Hai reported record sales for Q2 and issued strong guidance. Samsung will report its preliminary Q2 results tomorrow. South Korea launched 24-hour currency trading and South Korea's President Lee said that a committee to enhance chip competitiveness will begin operating in August. China has begun cracking down on safety violations in mining and chemical production.
- In economic data:
- Hong Kong's June Manufacturing PMI 52.0 (last 50.4)
- Australia's June MI Inflation Gauge -0.4% m/m (last -0.3%). June ANZ Commodity Price Index -1.0% m/m (last 0.7%) and June ANZ Job Advertisements -0.2% m/m (last 2.0%)
- Singapore's May Retail Sales -2.3% m/m (last 0.4%); 3.0% yr/yr (last 5.4%)
---Equity Markets---
- Japan's Nikkei: -0.1%
- Hong Kong's Hang Seng: +1.1%
- China's Shanghai Composite: -0.1%
- India's Sensex: +0.7%
- South Korea's Kospi: -0.5%
- Australia's ASX All Ordinaries: -0.1%
Major European indices trade near their flat lines while Spain's IBEX (-0.7%) underperforms with industrials and construction names among the laggards. Economic data released this morning was generally positive, though eurozone's PPI accelerated to 5.9% in May from 5.0% in April. Germany has increased its borrowing estimate for 2027 by about EUR7 bln due to weak tax revenue. EasyJet agreed in principle to be acquired by Castlelake for $7.3 bln. European Central Bank policymaker Moulin said that he is comfortable with the base scenario and that the balance of risks is in the right place.
- In economic data:
- Eurozone's May Retail Sales 0.2% m/m, as expected (last -0.3%); 1.6% yr/yr (expected 1.5%; last 0.9%). May PPI 0.2% m/m, as expected (last 0.7%); 5.9% yr/yr (expected 5.7%; last 5.0%). July Sentix Investor Confidence -3.1 (expected -14.5; last -13.4)
- Germany's May Factory Orders 1.9% m/m (expected 1.1%; last -3.2%)
- U.K.'s June Construction PMI 38.4 (expected 40.1; last 38.2)
- Swiss June Unemployment Rate 3.1% (expected 3.0%; last 3.0%)
---Equity Markets---
- STOXX Europe 600: -0.3%
- Germany's DAX: -0.2%
- U.K.'s FTSE 100: -0.3%
- France's CAC 40: -0.2%
- Italy's FTSE MIB: unch
- Spain's IBEX 35: -0.8%
