STOCKS/ECONOMY
-Stock futures are higher after Tuesday's 436-point loss for the Dow, smaller 0.4 percent decline for the S&P 500, and a 0.2 percent rise for the Nasdaq. Investors continue to look at key earnings reports from big banks and another inflation report this morning.
-The June producer price index, which measures wholesale inflation, came in unchanged when a 0.2 percent gain was expected.
-The yield on the 10-year Treasury bond is at 4.46 percent.
-The average 30-year mortgage rate rose last week to 6.82 percent from 6.77 percent the week before. New mortgage applications fell 12 percent and refinance applications dropped 7 percent.
-Gold is at $3,346 per ounce level. Bitcoin is at the $118,900 level.
-Asian markets closed mostly flat today. The Nikkei finished just below the breakeven mark, the Hang Seng lost 0.3 percent, and the Shenzhen fell 0.2 percent.
OIL/ENERGY
-U.S. crude prices are down and back to the $65 a barrel level.
-Gasoline prices are up to $3.16 a gallon, national average.
EARNINGS SCORECARD
-Goldman Sachs (GS) reported better than expected quarterly profits and revenues. Its shares are up 1 percent in the premarket.
-Bank of America (BAC) reported better than expected quarterly profits, but missed revenue expectations. Its shares are up 1 percent in the premarket.
-Morgan Stanley (MS) reported better than expected quarterly profits and revenues. But its shares are down 1 percent in the premarket.
-Johnson & Johnson (JNJ) reported better than expected quarterly profits and revenues, and it also raised its full-year earnings guidance. Its shares are up 2 percent in the premarket.
CHIPS OY OY
-Chipmaker ASML (ASML) warned that it may post no revenue growth in 2026. Its shares are down 8 percent in the premarket.
RARE EARTHS INVESTMENT
-Apple (APPL) has made a $500 million deal with MP Materials (MP) for key magnet materials just a day after the U.S. Defense Department announced a major investment in the rare earths company. MP shares are up 5 percent in the premarket after gaining 20 percent Tuesday. Its shares are up more than 90 percent over the last five days.
BOOZE BUST
-Alcoholic drink giant Diageo (DEO) is reportedly ousting CEO Debra Crew. Its shares are up 1 percent in the premarket.
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