Stock futures fall as Wall Street expects September losses to widen: Live update

18 minutes ago

Jamie Dimon says the US economy may be in a ‘sugar high’

JPMorgan Chase & Co. CEO Jamie Dimon said overnight that the good times for the U.S. economy may not last long.

“I feel like it’s a good thing right now that fiscal stimulus is crazy, monetarism is crazy, and it’s been a global phenomenon in the U.S. more than in other countries,” Dimon told CNBC TV18. It’s a bit of a sugar high.” In India. “And we’re hoping that a little bit of that will clear up and we’ll have a soft landing, but there’s all the other things out there like Ukraine, oil and gas, the winter, trade flow disruptions.”

“So I think that with good leadership on the American, Indian, Chinese and European sides, we can prevent negative things from happening. But I put myself in a pretty cautious category. ” Dimon added.

— Fred Imbert

23 minutes ago

Tesla falls after reports that the EU will investigate EV manufacturers over exports to China

Tesla shares are under investigation by European Union trade officials, who told the Financial Times that Tesla, along with other European automakers exporting from China, are investigating whether the EV maker receives unfair subsidies. The stock fell more than 1% after the company said it would receive a refund.

“Strictly speaking, it is not limited to electric cars of Chinese brands, but could also apply to cars of other manufacturers that receive subsidies on the production side,” EU Executive Vice President Valdis said. Dombrovskis told the FT.

— Fred Imbert

3 hours ago

European markets open low

European markets opened lower as negative momentum continued in the region.

The pan-European Stoxx 600 index fell 0.5% in early trading, with all sectors in the red. Tech stocks were the biggest decliners, falling 1.2%, while household goods fell 1%.

— Hannah Ward-Glenton

8 hours ago

Kishida outlines economic stimulus plan centered around tax cuts on semiconductors and batteries: Japanese media

Japanese Prime Minister Fumio Kishida outlined an economic stimulus package that includes tax cuts for domestic investment and measures to boost wages, Japanese media reported.

According to a report in the Japan Times, Prime Minister Kishida said the government “aims to encourage investment and wage growth through measures such as reducing taxes and social security burdens.”

The Nihon Keizai Shimbun reported that Kishida said his hope is to “realize a virtuous economic cycle of capital investment, wage increases, and investment in human resources.”

The stimulus package is also expected to include tax cuts on income from “key strategic sectors” such as semiconductors and batteries.

— Lim Huijie

8 hours ago

Wholesale inflation in Japan’s services sector rises at fastest pace since September 2022

Japan’s services producer price index rose 2.1% year-on-year in August, the highest rate of increase in a year.

The figure was higher than July’s 1.7%, marking the third straight month of acceleration in wholesale inflation in the services sector.

Month-on-month, services PPI increased by 0.1%.

— Lim Huijie

11 hours ago

RV maker Thor Industries beats profit estimates

Thor Industries, which provides recreational vehicles, posted higher sales and bottom line profits after the closing bell on Monday.

See chart…

Thor Industries stock.

The company reported adjusted earnings of $1.68 per share on revenue of $2.74 billion, compared with analyst estimates compiled by LSEG of adjusted 96 cents per share and revenue of $2.42 billion. Toll executives gave full-year sales guidance in the range of $10.5 billion to $11 billion, compared to Wall Street’s forecast of $10.8 billion.

Shares fell about 1% in after-hours trading.

— Brian Evans

12 hours ago

Stock futures trading remains largely unchanged

Stock futures opened little changed on Monday, with the S&P 500 and Nasdaq Composite ending winning sessions for the first time in four days.

Futures tracking the Dow Jones Industrial Average rose 8 points, or 0.02%. S&P 500 futures rose 0.05% and Nasdaq 100 futures rose 0.07%.

— Brian Evans

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