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U.S. producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years. Keeping a lid on optimism, a separate report showed weekly jobless claims unexpectedly fell last week, indicating that the labor market remains tight. InflationTraders expect a 20% probability that the central bank will hike borrowing costs in its November meeting but have fully priced in a 25-basis-point rate hike later in July. Five of the 11 major S&P 500 sectors advanced, with communications services (.SPLRCL) leading gains boosted by a 4.9% jump in Alphabet (GOOGL.O). Overall, earnings for the S&P 500 constituents are expected to have dropped 6.4% in the second quarter, Refinitiv data showed.

Persons: IRPR, David Russell, Bard, ChatGPT, Johann M Cherian, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel Organizations: PepsiCo, Dow, Nasdaq, Federal Reserve, Dow Jones, Google, Microsoft, Delta Air Lines, Meta, NYSE, Thomson Locations: Europe, Brazil, Bengaluru

Alphabet shares were outperforming the broader market, with the S&P 500 (.SPX) up 0.6%, boosted by data showing signs of cooling inflation. Clearly they've been able to reassure European regulators about those issues, which just paves the way for further advantage really," said Hewson. Alphabet shares, which have seen a huge boost from investor excitement around generative artificial intelligence since February, are up around 41% so far this year. Microsoft shares are up 42% so far in 2023. Also on Thursday, TD Cowen raised its price target for Alphabet shares to $140 from $130 citing expectations of better growth in its search business.

Persons: Bard, watchdogs, Danni Hewson, AJ Bell, they've, Hewson, Art Hogan, Riley, TD Cowen, Bansari Mayur, Sinéad Carew, Conor Humphries Organizations: Inc, European Union, Google, Microsoft Corp, Microsoft, Thomson Locations: Europe, Brazil, Bengaluru, New York

SummaryCompanies Delta rises on FY profit forecast raisePepsiCo gains on lifting FY revenue, profit outlookJune PPI data due at 8:30 a.m. A slower rise in prices has boosted hopes that the Federal Reserve could soon end its monetary tightening campaign. Economists polled by Reuters expect producer inflation to have eased to 0.4% over the 12 months through June from 1.1% in the previous month. ET, Dow e-minis were up 54 points, or 0.16%, S&P 500 e-minis were up 15 points, or 0.33%, and Nasdaq 100 e-minis were up 107.25 points, or 0.69%. Overall, earnings for the S&P 500 constituents are expected to have dropped 6.4% in the second quarter, Refinitiv data showed.

Persons: Michael Hewson, Walt Disney, Robert Iger's, Christopher Waller, Johann M Cherian, Saumyadeb Chakrabarty, Maju Samuel Organizations: PepsiCo, Dow, Nasdaq, Federal Reserve, Reuters, Traders, CMC Markets, Dow e, Delta Air Lines, Meta, Fed, Thomson Locations: Bengaluru

☆ Nasdaq leads Wall St to higher close as CPI report lifts sentiment
▼ + stars: | 2023-07-12 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. The Labor Department report also showed the smallest monthly gain in underlying consumer prices since August 2021. The S&P 500 banks index (.SPXBK) was up 0.6%. Advancing issues outnumbered declining ones on the NYSE by a 3.23-to-1 ratio; on Nasdaq, a 1.93-to-1 ratio favored advancers. The S&P 500 posted 66 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 129 new highs and 42 new lows.

Persons: Michael James, Quincy Krosby, Marvel, Janet Yellen's, Caroline Valetkevitch, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, Nick Zieminski, David Gregorio Our Organizations: Nvidia, Broadcom, Dow, Nasdaq, Reserve, CPI, Wedbush Securities, Dow Jones, Labor Department, JPMorgan Chase, chipmaker Broadcom, VMware, Marvell Technology, Treasury, NYSE, Thomson Locations: Los Angeles, North Carolina, U.S, York, China, Beijing, Bengaluru

U.S. consumer prices rose modestly in June and logged their smallest annual increase in more than two years as inflation continued to subside. The much awaited U.S. Labor Department report showed growth in core consumer prices, which excludes food and energy, eased to 4.8% from 5.3% in May on an annual basis. In the 12 months through June, the consumer prices (CPI) advanced 3.0%. The S&P 500 banks index (.SPXBK) rose 1.7% ahead of second-quarter earnings season, with Wall Street lenders expected to report higher profits. The S&P index recorded 62 new 52-week highs and two new lows, while the Nasdaq recorded 110 new highs and 28 new lows.

Persons: Brian Jacobsen, Russell, Bilibili, Johann M Cherian, Shashwat Chauhan, Shinjini Organizations: Nvidia, VMware, Broadcom, Dow, Nasdaq, Wall, Federal Reserve, . Labor Department, Annex Wealth Management, Dow Jones, Microsoft, Financial Times, Alibaba Group, NYSE, Thomson Locations: U.S, Beijing, Bengaluru

New York Fed President John Williams in an interview with the Financial Times said the central bank is not done raising rates. Amazon.com (AMZN.O) outpaced megacap peers, up 0.8%, going into the "Prime Day" 48-hour shopping event, which falls on July 11-12. ET, the Dow Jones Industrial Average (.DJI) was up 150.60 points, or 0.44%, at 34,095.00, the S&P 500 (.SPX) was up 9.33 points, or 0.21%, at 4,418.86, and the Nasdaq Composite (.IXIC) was up 2.20 points, or 0.02%, at 13,683.19. Eight of the top 11 S&P 500 sectors advanced, with energy (.SPNY) leading gains by 1.9%. The S&P index recorded 40 new 52-week highs and one new low, while the Nasdaq recorded 71 new highs and 25 new lows.

Persons: Dow, Phil Blancato, Ladenburg, John Williams, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur, Maju Samuel Organizations: JPMorgan, Jefferies, Dow, Nasdaq, Fed, Asset Management, New York Fed, Financial Times, Dow Jones, Activision, Microsoft, Salesforce, Bank of America Global Research, JPMorgan Chase, NYSE, Thomson Locations: U.S, Bengaluru

That compares with a 14.8% gain for the benchmark S&P 500 (.SPX). Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O), Amazon.com (AMZN.O) and Tesla (TSLA.O) combined account for 43.8% weight in the index, according to Refinitiv data as of Monday's close. The special rebalancing may be conducted at any time if the aggregate weight of companies, each having more than 4.5% weight in the index, tops 48%, according to Nasdaq. COULD THE S&P 500 FOLLOW SUIT? Apple and Microsoft are the only two firms with weight over 4.5% in the S&P 500.

Persons: Hogan, Cameron Lilja, Dow, Wells, Sam Stovall, Sruthi Shankar, Medha Singh, Bansari, David Randall, Shounak Dasgupta Organizations: Nasdaq, Microsoft, Apple, Nvidia, Riley, U.S . Securities, Exchange, Dow Jones, Tesla, Booking Holdings, Gilead Sciences, Devices, CFRA, Thomson Locations: Wells, Gilead, Bengaluru, New York

SummaryCompanies JPMorgan gains on Jefferies' upgrade ahead of earningsMegacaps recover after dip ahead of Nasdaq 100 rebalanceFutures up: Dow 0.02%, S&P 0.11%, Nasdaq 0.16%July 11 (Reuters) - U.S. stock index futures inched higher on Tuesday ahead of key inflation data that could support a sooner-than-expected end to the Federal Reserve's rapid interest-rate hikes. "The big-cap Nasdaq index is going to adjust weightings vs. a full addition or deletion. Also, far more money tracks the S&P 500, which is why S&P 500 component changes get a lot more attention than Nasdaq 100 moves." The S&P 500 banks index (.SPXBK) has shed 9% so far this year in the aftermath of the biggest crisis since 2008 that pummeled regional lenders. The sub-index is underperforming the benchmark S&P 500 index (.SPX), which has notched a 14.9% gain.

Persons: Joshua Warner, Hogan, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur Organizations: JPMorgan, Jefferies, Nasdaq, Dow, Federal, Fed, Index, Treasury, Nasdaq Inc, Riley, Dow e, JPMorgan Chase, Zions Bancorp, Truist, Thomson Locations: U.S, Bengaluru

☆ Wall St ends up; investors digest Fed official comments
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The S&P 500 added to slight gains before the close, with caution prevailing for much of the session ahead of Wednesday's consumer prices report and the start of second-quarter earnings later this week. That could shed light on the interest rate outlook, with many traders expecting the Fed to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Brendan McDermid, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Federal Reserve, Fed, Financial, New York Stock Exchange, REUTERS, Intel, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, New York City, Bengaluru

☆ Wall St ends higher; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. Advancing issues outnumbered decliners on the NYSE by a 2.23-to-1 ratio; on Nasdaq, a 2.06-to-1 ratio favored advancers. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

☆ Wall St ends up; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. "The market is obviously poised for the opening of earnings season," but investors are also hyper-focused on consumer prices and the outlook for interest rates, said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. According to preliminary data, the S&P 500 (.SPX) gained 10.97 points, or 0.25%, to end at 4,409.92 points, while the Nasdaq Composite (.IXIC) gained 25.36 points, or 0.19%, to 13,686.08.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

All eyes will be on U.S. inflation data, expected on Wednesday, that will feed into the Fed's interest rate decision later in the month. The second-quarter earnings season kicks off this week and investors will assess the impact of tight monetary conditions and fears of an impending economic slowdown on businesses. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the quarter, Refintiv data showed. Most megacap growth and technology stocks slid in mid-day trading, with the FANG index (.NYFANG) falling 1.3%. Big banks such as JPMorgan Chase (JPM.N) and Citigroup (C.N) edged up, ahead of reporting earnings on Friday.

Persons: Carl Icahn, Chris Larkin, Morgan Stanley, Michael Barr, Loretta Mester, Mary Daly, Jefferies, JPMorgan Chase, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Federal Reserve, PPI, Traders, Dow Jones, JPMorgan, Icahn Enterprises, Intel, Qualcomm, U.S, Treasury, NYSE, Thomson Locations: U.S, Bengaluru

All eyes will be on U.S. inflation data this week that will feed into the Federal Reserve's interest rate decision later in the month. A Reuters poll of economists showed they suspect that growth in consumer prices likely slowed in June. Most megacap technology and growth stocks, valuations in which come under pressure when borrowing costs rise, eased in premarket trading, with Apple (AAPL.O) and Alphabet (GOOGL.O) down 0.7% each. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the second quarter, Refintiv data showed. ET, Dow e-minis were up 19 points, or 0.06%, S&P 500 e-minis were down 4.5 points, or 0.1%, and Nasdaq 100 e-minis were down 41.25 points, or 0.27%.

Persons: Carl Icahn, Wall, JPMorgan Chase, Ipek Ozkardeskaya, Li Auto, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Traders, Apple, JPMorgan, Swissquote Bank, Dow e, China Association of Auto Manufacturers, Ichan Enterprises, Thomson Locations: China, U.S, Bengaluru

The benchmark S&P 500 (.SPX) was solidly higher for most of the afternoon, but stocks sold off toward the end of the session. "The jobs report today I think is consistent with what the Fed would like to see," said Josh Jamner, investment strategy analyst at ClearBridge Investments. Among S&P 500 sectors, defensive groups fell the most, with consumer staples (.SPLRCS) down 1.3%. For the week, the S&P 500 fell about 1.2%, the Dow slid roughly 2% and the Nasdaq dropped 0.9%. The S&P 500 posted 11 new 52-week highs and five new lows; the Nasdaq Composite recorded 45 new highs and 63 new lows.

Persons: Levi Strauss, Quincy Krosby, stoked, Josh Jamner, Brendan McDermid, Russell, Dow, Austan Goolsbee, Alibaba, decliners, Lewis Krauskopf, Sinead Carew, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, LPL, Reserve, ClearBridge Investments, Dow Jones, Energy, New York Stock Exchange, REUTERS, Chicago Fed, Rivian Automotive, Ant Group, NYSE, Thomson Locations: U.S, New York City, New York, Bengaluru

The U.S. added the fewest jobs in 2-1/2 years in June, although persistently strong wage growth pointed to still-tight labor market conditions, U.S. government data showed. "The jobs report today I think is consistent with what the Fed would like to see," said Josh Jamner, investment strategy analyst at ClearBridge Investments. According to preliminary data, the S&P 500 (.SPX) lost 12.42 points, or 0.28%, to end at 4,399.17 points, while the Nasdaq Composite (.IXIC) lost 18.33 points, or 0.13%, to 13,660.72. Energy (.SPNY) and materials (.SPLRCM) were among the biggest-gaining S&P 500 sectors, while defensive groups including consumer staples (.SPLRCS) lagged. Friday's jobs report kicks off a busy month of data including reports on inflation and corporate earnings ahead of the Fed meeting at the end of July.

Persons: Levi Strauss, payrolls, Josh Jamner, Austan Goolsbee, Carol Schleif, Alibaba, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Ganguli, Richard Chang Organizations: Reserve, ClearBridge Investments, Nasdaq, Dow Jones, Energy, Chicago Fed, BMO Family, Rivian Automotive, Ant Group, Thomson Locations: U.S, New York, Bengaluru

"But at the same time, it just puts the Fed in a position where they've got more work to do." Wall Street's main indexes ended sharply lower in a broad selloff in the previous session, with the benchmark S&P 500 posting its biggest daily percentage drop in six weeks, after employment data on Thursday showed the number of jobs more than doubled in June. Six of the 11 major S&P 500 sectors advanced in mid-day trading, with commodity stocks such as energy (.SPNY) and materials (.SPLRCM) up over 1% each and outperforming the broader market. Among other movers, the S&P 500 banking index (.SPXBK) gained 1.4%. The S&P index recorded three new 52-week highs and four new lows, while the Nasdaq recorded 28 new highs and 49 new lows.

Persons: Levi Strauss, we're, Steve Wyett, they've, Austan Goolsbee, Russell, Wells, Tesla, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Organizations: Dow, Nasdaq, BOK, Traders, Chicago Fed, Dow Jones, JPMorgan Chase, Citigroup, Alibaba, Ant Group, NYSE, Thomson Locations: Beijing, Washington, China, Bengaluru

"Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates," said Peter Cardillo, chief market economist at Spartan Capital Securities. Five out of the 11 major S&P 500 sectors declined in early trading on Thursday. Wall Street's main indexes ended sharply lower in a broad selloff, with the benchmark S&P 500 posting its biggest daily percentage drop in six weeks. Among other early movers, the S&P 500 banking index (.SPXBK) gained 1%. The S&P index recorded one new 52-week highs and three new lows, while the Nasdaq recorded 13 new highs and 22 new lows.

Persons: Levi Strauss, Dow, Peter Cardillo, we're, Wells, Tesla, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Organizations: Nasdaq, Fed, Spartan Capital Securities, Traders, Dow Jones, JPMorgan Chase, Citigroup, Alibaba, Ant Group, NYSE, Thomson Locations: Beijing, Washington, China, Bengaluru

Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained solid despite growing risks of a recession. “We don’t see any softening in the labor market,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. All 11 S&P 500 sectors ended down. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch. Second-quarter corporate reports will arrive in coming weeks with S&P 500 earnings expected to fall 5.7% from a year-ago, according to Refinitiv data.

Persons: payrolls, ”, Brad McMillan, CME's, Lorie Logan, Lip, judge's, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi, Shinjini Ganguli, David Gregorio Our Organizations: Energy, Exxon, Dow, Nasdaq, Reserve, Commonwealth Financial Network, Dow Jones, Microsoft, Apple, Treasury, Federal Reserve, Fed, Dallas, Exxon Mobil Corp, Wealth Management, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: U.S, New York, Bengaluru

Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained on solid ground despite growing risks of a recession. “We don’t see any softening in the labor market,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. Treasury yields jumped following the labor market data. The benchmark 10-year yield burst above 4% while the two-year Treasury yield, which typically moves in step with interest rate expectations, hit a 16-year high. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch.

Persons: payrolls, ”, Brad McMillan, CME's, Lorie Logan, Lip, judge's, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi, Shinjini Ganguli, David Gregorio Our Organizations: Energy, Exxon, Reserve, Commonwealth Financial Network, Nasdaq, Dow Jones, Treasury, Federal Reserve, Fed, Dallas, Exxon Mobil Corp, Wealth Management, JetBlue Airways, American Airlines, Spirit Airlines, Thomson Locations: U.S, New York, Bengaluru

☆ Meta's Threads swiftly signs up 30 million users, in clear threat to Musk-owned Twitter
▼ + stars: | 2023-07-06 | by ( Aditya Soni | ) www.reuters.com time to read: +5 min

Mastodon, another Twitter-like app, has 1.7 million monthly active users, according to its website, while Twitter co-founder Jack Dorsey-backed Bluesky has about 265,000 users. Twitter had 229 million monthly active users in May 2022, according to a statement made before Musk's buyout. THREADS HAS CERTAIN LIMITATIONSMeta's Threads app logo is seen in this illustration taken July 4, 2023. Threads does not have hashtags and keyword search functions, which means users cannot follow real-time events like on Twitter. Currently there are no ads on the Threads app and Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users.

Persons: Zuckerberg, Elon Musk, Mark Zuckerberg, Twitter's, Jasmine Enberg, Twitter, Meta, Niklas Myhr, Jack Dorsey, Bluesky, Dado Ruvic, hasn't, Marques Brownlee, Linda Yaccarino, Musk, Pinar Yildirim, Aditya Soni, Yuvraj Malik, Bansari Mayur, Akash Sriram, Shounak Dasgupta Organizations: Meta, Twitter, Intelligence, Chapman University, REUTERS, Facebook, University of Pennsylvania's Wharton, Thomson Locations: Las Vegas, Bengaluru

☆ Meta's Threads is a serious threat to Musk-owned Twitter, analysts say
▼ + stars: | 2023-07-06 | by ( Aditya Soni | ) www.reuters.com time to read: +5 min

While Threads is a standalone app, users can log in using their Instagram credentials, which makes it an easy addition for Instagram's more than 2 billion monthly active users. Twitter, by comparison, had 229 million monthly active users in May 2022, according to a statement made before Musk's buyout of the social media platform. Mastodon, another Twitter-like app, has 1.7 million monthly active users, according to its website, while Twitter co-founder Jack Dorsey-backed Bluesky has about 265,000 users. Threads does not have hashtags and keyword search functions, which means users cannot follow real-time events like on Twitter. Overall, analysts said Threads was a strong competitor to Twitter, which has been rocked by abrupt decisions by Musk.

Persons: Elon Musk, Kim Kardashian, Gordon Ramsay, Niklas Myhr, Mark Zuckerberg, Pinar Yildirim, Jack Dorsey, Bluesky, Zuckerberg, Musk, Jasmine Enberg, Marques Brownlee, hasn't, Aditya Soni, Yuvraj Malik, Bansari, Shounak Dasgupta Organizations: Twitter, Chapman University, Facebook, University of Pennsylvania's Wharton, Intelligence, Bloomberg News, Union, Thomson Locations: Las Vegas, Bengaluru

Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing risks of a recession from higher interest rates. Another survey showed the number of Americans filing new claims for unemployment benefits increased moderately last week. "The Fed has been hopeful to see a modest deterioration in the labor market," said Randy Frederick, managing director of trading and derivatives for Charles Schwab. "But since the ADP number was almost twice of what was expected, it generally implies there's potential for more rate hikes going forward." Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: payrolls, Randy Frederick, Charles Schwab, Lorie Logan, Janet Yellen, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, ADP, Dallas, Twitter, Dow Jones, Nasdaq, Institute for Supply, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: ., Beijing, Washington, China, U.S, Bengaluru

Most tech and growth megacaps, whose valuations come under pressure when borrowing costs rise, fell in early premarket trading, with Alphabet (GOOGL.O) and Tesla (TSLA.O) down 0.7% each. Meta Platforms (META.O) rose 1.8% after attracting millions of users within hours of launching Threads on Wednesday. After a dismal 2022, big growth and technology stocks have seen outsized gains in 2023, with the Nasdaq Composite (.IXIC) clocking its best first-half in 40 years. ET, Dow e-minis were down 139 points, or 0.4%, S&P 500 e-minis were down 19 points, or 0.42%, and Nasdaq 100 e-minis were down 69.25 points, or 0.45%. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen's, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, Nasdaq, Wall, Meta, Twitter, Victoria, Interactive Investor, Investors, Institute for Supply, Dow e, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, Coty, Thomson Locations: Beijing, Washington, China, U.S, Bengaluru

Key economic data is due before the meeting, including the monthly U.S. jobs report on Friday. “The markets are in a wait-and-see for the economic data,” said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest Wealth Management. Materials (.SPLRCM) fell most among S&P 500 sectors, shedding 2.5%. Chip stocks fell after China said it would control exports of some metals widely used in the semiconductor industry as tensions between Beijing and Washington rise over access to high-tech microchips. The S&P 500 posted 18 new 52-week highs and one new low; the Nasdaq Composite recorded 55 new highs and 65 new lows.

Persons: ”, Paul Nolte, “, Jack Ablin, Lewis Krauskopf, Sinead Carew, Bansari Mayur Kamdar, Johann M, Marguerita Choy, Vinay Dwivedi Organizations: Fed, Dow, Nasdaq, U.S, U.S . Federal, Murphy, Sylvest Wealth Management, “, Dow Jones, Semiconductor, Intel, Texas, Twitter, Meta, Cresset, United Parcel Service, Teamsters Union, UPS, NYSE, Thomson Locations: U.S ., China, Beijing, Washington, Philadelphia, New York, Bengaluru

SummarySummary Companies UPS slips after Teamsters say it walked away from talksModerna climbs on deal to develop mRNA medicines in ChinaChip stocks slide on China's export curbsFed minutes awaited at 2:00 p.m. ETFutures down: Nasdaq 0.51%, S&P 0.42%, Dow 0.42%July 5 (Reuters) - Wall Street futures fell on Wednesday as investors awaited minutes of the Federal Reserve's June meeting for clues on the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing dented sentiment. Investors are focused on the Fed minutes, expected to be released around 2 p.m. More economic data, including the non-farm payrolls report on Friday, is scheduled for release this week. ET, Dow e-minis were down 146 points, or 0.42%, S&P 500 e-minis were down 19 points, or 0.42%, and Nasdaq 100 e-minis were down 78 points, or 0.51%.

Persons: Ipek Ozkardeskaya, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Vinay Dwivedi Organizations: Moderna, Dow, Wall, Sino, Microsoft, Investors, Fed, Swissquote Bank, Traders, Nvidia, Micron Technology, Netflix, Wolfspeed Inc, Renesas Electronics Corp, Tesla, Dow e, Nasdaq, United Parcel Service, Teamsters, Rivian, Thomson Locations: China, U.S, Beijing, Washington, Germany, Bengaluru

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