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Premarket: Here's what you need to know before the bell



Thursday, the Dow has exceeded 27,000 points for the first time, while the S & P 500 closed at 3,000 points. Both indices were pushed up by the testimony of Federal Reserve Chairman Jerome Powell in Congress, which fueled investor optimism about the reduction in interest rates expected later this year. month.

The Nasdaq, meanwhile, closed down 0.1%. Global market gains on Friday were lukewarm.

"Trade tensions between the United States and China continue to weigh on the global sentiment," said Han Tan, FXTM market analyst, in a note. China's export growth turned negative in June, according to data released on Friday, and imports plunged more than expected.

US stocks are poised to continue their recovery. The Dow could rise 70 points, or 0.3%, to open markets, while the S & P and Nasdaq are expected to rise 0.2%.

2. Trump against Balance The price of bitcoin has been more volatile than ever in recent weeks, reaching nearly $ 14,000 at the end of June, before dropping to about $ 9,600 on July 2. The price of a bitcoin is now around $ 11,600.

An explanation? Regulatory concerns Facebook (FB) is preparing to launch his Cryptocurrency Balance.

Facebook's plans on Thursday attracted the attention of President Donald Trump, who tweeted that he was "not a fan of Bitcoin and other cryptocurrencies, which are not the least." 39; money. " The technology company will have to look for a charter if it wants to become a bank, he added.

"We only have one real currency in the United States, and it is stronger than ever, both reliable and reliable," said Trump, referring to the US dollar.

Trump's anger could draw attention to congressional hearings next week. David Marcus, project manager on Facebook, is due to testify.

3. Daimler warning: The Mercedes-Benz owner warned of a significant drop in profits this year after recalls, legal problems and weak demand for new cars contributed to a difficult second quarter.

Daimler announced Friday a loss of 1.6 billion euros in the second quarter, a dramatic decline from a profit of 2.6 billion euros achieved at the same time of the year. former.

The profits for the year will be significantly lower than the 11.1 billion euros achieved in 2018.

The German automaker attributed its weakness in the second quarter to higher costs associated with the recall of the Takata airbags, as well as regulatory and legal risks related to the scandal of diesel emissions.

In addition to these factors, Daimler said its full-year performance would be affected by slow product launches and weak growth in the automotive markets.

Actions in Daimler (DDAIF) trade 1.7% lower in Frankfurt after the announcement.
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4. Coming this week:
Friday – American producer prices


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