Preview of US Stock Market | The three major stock index futures all rose, with tonight's retail data being the focus before the Federal Reserve meeting.
17/09/2024
GMT Eight
licanThe impact of the party candidate's policies is expected to be between 0% and -4%. Strategists say that Trump's plan will have the biggest impact on the US fiscal deficit, which will become a major issue in the future. However, they point out that the stock market is only likely to see the above changes if the candidate's party also sweeps the Senate and House of Representatives. They say, "Any candidate will face a divided Congress, which will mitigate near-term risks to fair value."Individual Stock News
Pre-market surge over 7%! Intel Corporation (INTC.US) welcomes multiple positive news: manufacturing AI chips for Amazon.com, Inc., and confirmed eligibility for US government funding. According to a statement on Monday, Intel Corporation will be customizing AI chips for Amazon.com, Inc. (AMZN.US), with both parties reaching a multi-year cooperation framework on products and wafers. Intel Corporation and Amazon.com, Inc.'s cloud service department AWS will jointly invest in custom semiconductors for artificial intelligence computing, which will rely on Intel Corporation's 18A process, an advanced chip manufacturing technology. In addition, Intel Corporation will establish Intel Corporation Manufacturing as an independent department. In order to attract more customers, Intel Corporation plans to separate its manufacturing business (IFS) from other businesses and make it a wholly-owned subsidiary. This move is intended to show potential customers that IFS is an independent supplier, especially for companies that compete with Intel Corporation, which can cooperate with them more confidently. Earlier on Monday, Intel Corporation also stated that it is eligible to receive up to $3 billion in funding from the US government to manufacture chips for the military.
Microsoft Corporation (MSFT.US) announced a 10% increase in dividends and plans to repurchase up to $600 billion in stock. Microsoft Corporation stated that it will increase its quarterly dividend from 75 cents per share to 83 cents per share for shareholders as of November 21st. The dividend will be paid on December 12, 2024, to shareholders holding shares as of November 21, 2024. The ex-dividend date will be November 21, 2024. The board also approved an authorization to repurchase up to $600 billion in stock, with no expiration date for the stock repurchase agreement. In addition, Microsoft Corporation also announced the "Wave 2 of Copilot" project, further integrating artificial intelligence features into its main products. The new Copilot Pages feature aims to be a platform for multi-user AI collaboration, allowing users to interact with Microsoft Corporation's Copilot chat Siasun Robot & Automation and add their responses to a new page for collaborative editing with others.
Stellantis (STLA.US) failed to meet the terms of the 2023 agreement and is being sued by UAW for violating US labor laws. The United Auto Workers Union (UAW) has filed federal labor charges against Stellantis with the National Labor Relations Board. Stellantis has been accused multiple times of breaking commitments as part of the 2023 collective bargaining agreement and refusing to provide information about plans to relocate manufacturing overseas. In order to end unprecedented strikes against the Detroit Big Three automakers, Ford, General Motors Company, and Stellantis previously agreed to terms with the UAW, including substantial pay raises and increased retirement benefits, especially with Stellantis committing to produce the Dodge Durango in Detroit and reopening a dormant assembly plant in Belvidere, Illinois. However, with high inventory levels, declining sales, and a lucrative contract signed with UAW that raised auto workers' wages by at least 25%, Stellantis is looking to cut costs, initially through company-wide layoffs, and now plans to shift production of the Durango to Windsor, Canada, and close the Belvidere plant.
Important Economic Data and Events Preview
20:30 Beijing time US Retail Sales for August
21:15 Beijing time US Industrial Production for August
04:30 Beijing time the following day US API Crude Oil Inventories as of the week ending September 13th