September S&P 500 futures (ESU23) are down -0.04%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.05% this morning as weak inflation data from China added to a gloomy global economic outlook while investors looked ahead to the latest U.S. inflation data as well as the start of the second-quarter earnings season.
In Friday’s trading session, Wall Street’s major indexes ended lower, with the blue-chip Dow dropping to a 1-1/2 week low. Levi Strauss (LEVI) plunged over -7% after the company cut its full-year profit forecast. In addition, Costco Wholesale Corp (COST) fell more than -2% after reporting a -1.4% fall in June total company comparable sales. On the positive side, energy stocks advanced as the price of WTI crude rose over +2% to a 1-month high. Regional bank stocks also gained ground, with Zions Bancorp (ZION) climbing more than +4% and Comerica Inc (CMA) gaining over +3%.
