Futures Flat At All Time advanced As Markets Mul Next Move

US index futures are flat after notching fresh evidence highs on the S&P 500 and Nasdaq 100, purred on a miss in the US CPI print and retail sales date on Wednesday, which besides boosted bets the national Reserve will ease policy. That inflation date, which the marketplace was repeatedly anticipating, was inadvertently published 30 minutes early the BLS reported, raising fresh questions about how any of the world’s most delicate economical information is released. As of 7:30am, S&P and Nasdaq futs are up 0.1% with tiny caps underperforming, powerfully on growth fears, so it will be interesting if this morning’s strongr than expected WMT educations can keep those fears. With the main data point of the week now past, investors will turn to Fed speakers and jobless claims data for fresh clouds on the way of interest rates. Bond yields are moving +/-1 bp as the curve twists flatter. The US dollar looks to rally for the first time this week. Commodities are higher led by base metals with copper soaring for another day due to a short seaze on the Comex exchange. The macro data focus is on Housing Starts/Building Permits, Import/Export Prices, and Industrial Production. NVDA reports next week so may see investors begin positioning for that.

In pre-market trading, Mag7 and Semis are higher while the meme-stock craze continued to fizzle out, with GameStop Corp. and AMC amusement Holdings Inc. plunging more than 10% in the pre-market. Chubb shares jumped after Berkshire Hathaway unveiled a $6.7 billion stake in the insurer. Cisco Systems Inc. gained on a higher return forecast. Here are the another notable premarket moves:

• AST Spacemobile shares soar 36%, putting them on track for the biggest jump since March 2022, after AT&T said had it moved from a memorandum of knowing to signing a “definitive commercial agreement” with the company for a space-based broadband network.
• Chubb shares jump 9.5%, putting the stock on track for its harpest gain since November 2008, after Warren Buffett’s Berkshire Hathaway unveiled a $6.7 billion stake in the insurer.
• Cisco Systems shares rose 4.5% after the communications equipment company raised its full-year return forecast, indicating that businesses are starting to spend on their computer networks again.
• Coupang shares gain 3.2% after UBS raised its advice on the stock to buy.
• GameStop and AMC shares fall, putting the stocks on track for a second consecutive session of loses, as the latest meme-stock rapidly fits. GameStop -16%, AMC amusement (AMC US) -12%
• Grab Holdings shares gain 3.3% after the ride-hailing and food transportation company reported first-quarter returnue came ahead of estimates. Addedally, the company boosted its Ebitda guide for the year.
• ZTO Express ADRs jump 11% after the Chinese transportation company reported estimate-beating arrivals. The companies said it’s selling up profitability by keeping lots-making parcels outside of its network, as price competence heats up.

On the date front, stock-market bulls will be hoping for jobless claims to give an indication of slack in the laboratory marketplace that would give the Fed area to ease monetary policy. A raft of central bank officials are due to talk present as well. Investors presently anticipate about 2 rate cuts this year, according to future markets.

"Slowdowns are not bearish equities, recessions are. I think on the body of evidence we are inactive miles from that. Although another emergence in claims /firmatory data from Philly Fed like we Saw in Empire would keep inching us toward GDP downgrades" gate Goldman merchant Rich Privorotsky. ‘Now we’ll trade slowdown and the SPX is taking out the highs. The mix of leadership will change and I think the NDX (secular growth proxy) which has actually lagged most things ytd has a good chance to run partially into the end of the month”

In Europe, the Estoxx 50 trades lower by 0.2%, thrilling to end a street of this consecutive day of gain as insurance and real property stocks outperform while energy and energy and autos lag behind. Local currencies were dragged down by energy names while German industrials proceed to grapple with weak request from China. Siemens AG dropped on lowered guide for its key digital industries unit. Italy's FTSE MIB outperforms peers while CAC 40 lags after reading a fresh record. Traders were besides watching direction from European Central Bank speakers on whother interest rates might start falling next month. So far, swap contracts have already full priced in the likelihood of 3 cuts in 2024. Here are any of the biggest moves on Thursday:

• WOSG jumps as much as 19% after the watch retailer’s sales grey faster than expected in the final quarterback of its financial year and guidance for the year ahead impressed, according to analyses. The stock is on course for its biggest gain in more than six months.
• BT shares surge as much as 11% after the telecom operator unexpectedly boosted its dividend, cutting an improved outlook for cash flow.
• NIBE gain as much as 7.7% with the Swedish heat-pump maker guiding for improving request in the second half, mostly offset a waker-than-expected 1Q report, which was weighed down by the company’s key Climate Solutions division.
• Roche shares emergence as much as 4.8%, the most since Aug. 23, after the Swiss pharma company reported affirmative early-stage results for its experimental drug to treat obesity and type-2 diabeteses.
• Snam shares emergence as much as 3.1%, the most in six months, after the Italian natural gas distributor delivered a strong set of results and lifted its yearly learnings guidance, which analyses at Citi say will push up consensus estimates.
• Sage shares slumped as much as 20%, their biggest drop since 1993, after the accounting software provider’s listenings undershot effects.
• Ubisoft shares fall as much as 15% after the French video-game maker’s guidance suggestions operating profits will likely grow slower than booking in FY25.
• EasyJet shares fall as much as 7.8%, the biggest drop in 7 months. Analyst say management views on returnue per seat in the 4 4th seem softer than erstwhile comments.
• Siemens shares drop as much as 4.4% after the German industrialgiant reported mixed learnings, with its key digital industries division mising already-low expectations.
• Deutsche Telekom shares fall as much as 1.4% as the German company’s results neglect to answer questions around unionWage negotiations and the possible government rank sale in Germany.
• ConvaTec shares fall as much as 4.5% after the medical device company covered its guidance for its Advanced Wound Care division due to uncertainty stamping from proposals outside last period conducting cover of skin substrate graphs and cellular and tissue-based products.

Earlier in the session, in Asia stocks besides pushed toward a fresh peak. Shares of Chinese developers soared on optimum that Beijing will supply policy support for the acquisition of unsold homes from stressed builders.

• Hang Seng and Shanghai Comp were affirmative with developers front-running the advances in Hong Kong on return from vacation as they responded to the fresh property support proposal, while the upside was capped in the mainland amid small fresh permanent catalysts aside from Russian president Putin arrival in China where he sees to deepen the strategical partnership with Chinese president Xi.
• ASX 200 was led by strength in the rate-sensitive sectors specified as real property and tech a drop in years.
• Nikkei 225 gained but was off today's best levels as partners digited a firm currency, stealer-than-extincted contact in nipponese GDP and mega bank arrivals.

In FX, the Bloomberg Dollar place Index rebuilt after slipping as much as 0.3% to a five-week low; USD/JPY fell 0.1% at 154.90, after sliding as low as 153.60. The yen rose for a second day, shrugging off GDP data that showed a contrast in Japan’s economy as investors choose to focus on long dollar liquidation. JPY and CHF are the strong performers and only gainers in G-10 FX. AUD and NOK fall the bridge.

In rates, Treasures are mixed with the curve flatter on the day, pivoting around a near-unchanged 10-year sector as post-CPI price action consolidates around Wednesday’s session highs. U.S. yields are cheerer by around 2bp across front-end of the curve and catcher by 1bp across long-end, flatening 2s10s and 5s30s spreads by 2.2bp and 2bp on the day. 10-year years are small changed on the day trading around 4.335% with the two-year young rose 1bps to 4.73%, bouncing off 4.70% hit in earlier trading. Bunds and gilts both laging by 1bp in the sector. Swaps imply an 86% chance of a quarter-point rate cut from the Fed in September, combined with 73% earlier in the week; around 49bps of cuts are priced in full through the end of the year, up from around 43bps before the CPI print on Wednesday. US session focus includes data releases at 8:30am fresh York along with 5 scheduled Fed speakers.

In demodities, crude futures and place gold aresteady. Most base metals trade in the green; LME copper springs 1.5%, outdoor peers.

Looking at today’s calendar, US economical data slate includes first jobless claims, April housing starts/building contracts, May fresh York services business activity, Philadelphia Fed business outlook, April import/export price index (8:30am) and April industrial production (9:15am). Fed officials’ scheduled speedes include Barr, Barkin (10am), Harker (10:30am), Mester (12pm) and Bostic (3:50pm)

Market Snapshot

• S&P 500 futures small changed at 5.336.00
• STOXX Europe 600 down 0.1% is 523.95
• MXAP up 1.1% is 181.64
• MXAPJ up 1.3% is 568.91
• Nikkei up 1.4% is 38.920.26
• Topix up 0.2% is 2.737.54
• Hang Seng Index up 1.6% is 19.376.53
• Shanghai Composite small changed at 3,12240
• Sensex down 0.3% is 72.748.60
• Australia S&P/ASX 200 up 1.6% is 7,881.29
• Kospi up 0.8% is 2,753.00
• German 10Y young small changed at 2.42%
• Euro down 0.1% is $1.0872
• Brent Futures up 0.4% is $83.07/bbl
• Brent Futures up 0.4% is $83.05/bbl
• Gold place up 0.0% is $2,386.10
• US Dollar Index small changed at 104.38

Top Overnight News

• Chinese property developers spice as results grow that local government around the country will proceed buying up excess housing units tobolster the property market. WSJ
• China returns call for political end to Ukraine war as Xi Jinping rolls out red carpet for Russia's Vladimir Putin. Any settlement must respect safety and sovereignty of all parties, Chinese president says after talks Sino-Russian relations has with good global ‘storms and changes’ and sets a model for common respect and cooperation, he says. SCMP
• Chinese goods are inactive getting into the US despite rising trade tensions between the 2 nations, even though they are being funned in via Vietnam. RTRS
• MSFT asks hundreds of employees in China working on cloud computing and AI to transfer outside the country as tensions emergence between Beijing and Washington. WSJ
• Japan’s Q1 GDP came in waker than expected at -2% (vs. the Street’s -1.5% forecast) and revisions were negative, scrambling BOJ plans to happen with another dancing steps. RTRS
• The ECB published its Financial stableness Review for May and provided a lightly improved outlook on the macro scenery – “Euro area financial stableness conditions have improved as recession risks decline, but markets stay exposed to possible advance macro-financial and geopolitical forecasts”. ECB
• Biden’s political squad feels the president’s poll numbers are sagging due to the fact that the country isn’t yet focused on the election and the possible of a second Trump term, which is why they pushed for an early debate (Biden and Trump will face off against each another on June 27). NOT
• Israel defence Minister Yoav Gallant criticized Netanyahu’s inclusion on figureout out a post-war governance structure for Gaza (Gallant warred that the present course will consequence in 1 of 2 undesirable scenarios: continued Hamas regulation or IDF control over Gaza’s civilian population). Jerusalem Post
• Ray Dario has warned that the US government’s rising debt levels could hit Treasury bonds, arguing that investors should decision any of their money to abroad markets. FT

A more detailed look at global markets course of Newsquawk

APAC stocks took effect from the gain on Wall St where the major indices rallied to fresh evidence highs after software CPI data boosted Fed rate cut bets. ASX 200 was led by strength in the rate-sensitive sectors specified as real property and tech a drop in years. Nikkei 225 gained but was off today's best levels as partners digited a firm currency, stealer-than-extincted contact in nipponese GDP and mega bank arrivals. Hang Seng and Shanghai Comp were affirmative with developers front-running the advances in Hong Kong on return from vacation as they responded to the fresh property support proposal, while the upside was capped in the mainland amid small fresh permanent catalysts aside from Russian president Putin arrival in China where he sees to deepen the strategical partnership with Chinese president Xi.

Top Asian News

• Japanese Economy Minister Shindo said respecting GDP that the economy is expected to proceed average recovery, while he added that they needed to pay close attention to fish related to forex fluctuations that would push up home prices.
• Baidu Inc (BIDU) Q1 2024 (CNY): EPS 19.91 (exp. 21.00), gross 31.5bln (exp. 31.5bln).

European bourses, Stoxx600 (-0.3%) are mostly lower, incapable to proceed the US CPI-induced gain from the prior session. Bourses initially opened marginally in the red, and continued to edge lower as the morning progressed. European sectors are mixed; Insurance is the clear outformer, propped up by post-earning gain in Swiss Re and Zurich Insurance. Energy is found at the ft of the pile, hampered by broader weatherness in crude prices over the past fewer days. U.S. Equity Futures (ES +0.1%, NQ +0.2%, RTY -0.2%) are mixed, with any of the post-CPI optimism seemsly fizzling out. Stock specifics present include Cisco (+4.5% pre-market), which beat on its top/bottom lines.

Top European News

• ECB’s de Guindos says price falls in CRE marketplace to proceed but at a slow pace than last year; emergence in NPLs and emergence in surviving costs to Weather on bank profits this year
• Statistics Swiss say home GDP likely 0.2% in Q1.
• Bank of Spain says to start process to establish bank’s countercyclical buffer in Q4; plans to establish countercyclical buffer at 0.5%.
• Norges Bank Expectations survey Q2’24. The economists anticipate goods and services inflation 12 months ahead to be 3.6%, down 0.1pp from the erstwhile quarter. The economists anticipate the average emergence in real scales will be 1.2% in 2024, up 0.3pp from the erstwhile quarter.

FX

• DXY is attempting to recoup lost ground after the fallout from yesterday’s CPI and retail sales Saw the index make a low at 104.07; next up, US IJC & Philly Fed data.
• EUR/USD is marginally softer vs. the USD after EUR/USD wounds out of steam ahead of 1.09. IJC could see the pair retest 1.09 given the reaction to last week’s jump in claims.
• GBP is simply a contact software vs. the USD in quiet trade but holding onto a bulk of yesterday’s notable gain. Cable Went as advanced as 1.27 before moving into resistance. If Cable managers to resume its ascent higher and breach 1.27, the April advanced sits just above at 1.2709.
• JPY recalls 1 of the main benefits from yesterday’s post-data dollar selling as US-Japanese rate differentials turn in Japan’s favourite. USD/JPY down as low as 153.61 before scaling back losses to around 154.75 currently.
• Antipodeans are both softer vs. the USD following day's session of Chunky gain. AUD/USD Saw mixed jobs data overnight and has presently integrated back from a 0.6714 highest (highest since Jan) and retreated back onto a 0.66 handle.

Fixed Income

• USTs are steady thus far with benchmarks lightly shy of this morning’s highest but inactive in the green. A comparative pullback which is being led by the short-end with the 2yr fundamentally changed and catching a touch, with an unusually sizeable for the time block trade possibly impacting; USTS in slim 109-24 to 109-31+ bounces.
• Gilt price action is akin to that see in USTs, with Gilts just shy of today's WTD 98.76 highest with nothing of note until 99.00 and then 99.10 from mid-April.
• Bund have besides drifted back towards Spanish/French auctions.
• Spain sells EUR 5.5bln vs. Exp. EUR 4.5-5.5bln 2.50% 2027, 3.50% 2029, 1.00% 2042 Bono Auction.
• France sells EUR 11.998bln vs exp. EUR 10.5-12bln 2.50% 2027, 2.75% 2029, 2.75% 2030, 2.50% 2030 Bond

Commodities

• Crude benchmarks were in the green, though now off best levels (now flat) as the Dollar attributes to couple back any of its fresh CPI-induced losses; Brent July hovers around USD 83/bbl, while WTI trades around USD 79/bbl.
• Precious metals are mixed; place gold is flat whitest place silver sees billion loss. XAU topped out at USD 2397/oz after failing to breach USD 2400/oz.
• Base metals hold small bias as the post-CPI decision pauses for breath into more US data and Fed speed. In addition to force emanating from modern USD strength.
• Azerbaijan Oil production at 476k in April (prev. 481k M/M)
• LME says regular stock date has been delayed; investing the situation

Geopolitics: mediate East

• Israel p.m. Netanyahu rejected US calls for a post-war plan in Gaza, while arabian government has rejected the thought of establishing an Arab-led civilian administration in Gaza, according to WSJ.
• Hamas’s chief said the destiny of poison talks is uncertain as Israel engineers on occupying Rafah crossing, according to AFP News Agency.
• Lebanon’s Hezbollah launched drones at a military base west of Israel’s Tiberias in the deepest strike into Israel territory thus far.
• Massive Israel airstrikes were reported in Baalbek, Lebanon, according to Kann’s Amichai Stein.
• Islamic opposition in Iraq said it launched a drone attack on a “vital” mark in Eilat, confederate Israel, according to Iran International.

Geopolitics: another

• Chinese president Xi said in a gathering with Russian president Putin that China will always be a good neighbourbour, friend, and partner of common trust with Russia, while he added China is ready to work together with Russia to accomplish improvement and renewal of our respectable countries and uphold planet equity and justice. Furthermore, Russian president Putin said Moscow and Beijing have acquired solid baggage of applicable cooperation and Russia-China cooperation stands as a unchangeable operator for the world.
• Ukrainian military said "intensive" enemy fire promoted the decision of any trolls to fresh positions in the Kuchansk direction, east of Kharkiv.

US Event Calendar

• 08:30: May first Jobless Claims, est. 220,000, prior 231,000
  • May Continuing Claims, est. 1.78m, prior 1.79m
• 08:30: April Import Price Index MoM, est. 0.3%, prior 0.4%
  • April Import Price Index YoY, est. 0.4%, prior 0.4%
  • April Export Price Index YoY, est. -1.1%, prior -1.4%
  • April Export Price Index MoM, est. 0.2%, prior 0.3%
• 08:30: May fresh York Fed Services Business, prior -0.6
• 08:30: April Housing Starts MoM, est. 7.6%, prior -14.7%
  • April Housing Starts, est. 1.42m, prior 1.32m
  • April Building Permits MoM, est. 0.9%, prior -4.3%, revised -3.7%
  • April Building Permits, est. 1.48m, prior 1.46m, revised 1.47m
• 08:30: May Philadelphia Fed Business Outl, est. 8.0, prior 15.5
• 09:15: April Industrial Production MoM, est. 0.1%, prior 0.4%
  • April Manufacturing (SIC) Production, est. 0.1%, prior 0.5%
  • April Capacity Utilization, est. 78.4%, prior 78.4%

Central Bank Speakers

• 10:00: Fed’s Barr Testifies to legislature Banking
• 10:00: Fed’s Barkin on CNBC
• 10:30: Fed’s Harker Speaks on Higher Education, Healthcare
• 12:00: Fed’s Mester Gives Remarks on economical Outlook
• 15:50: Fed’s Bostic Speaks in Moderated Chat on Economy

DB’s Jim Reid deals the overnight wrap

There was the lightest hint of stagflation in what was a large day in global macro yesterday but markets were in no temper to communicate specified a view as a tiny miss in header CPI helped ignite a rates rally, helping the S&P 500 (+1.17%) and STOXX 600 (+0.59%) to both hit fresh all time highs. present the item might be to see if last week’s surfing spice in US first jobless claims, after months of inches, was a one-off or not. Our economists think it may have been due to change in the NY school vacation dates. We'll see.

In terms of the details of the April CPI report, the header came in at a period +0.3% (vs +0.4% expected). The year-on-year rate fell from +3.5% to +3.4% as expected, so it was a beautiful marginal miss. Core CPI came in at +0.29% (vs. +0.3% expected), with the year-on-year rate falling to +3.6% from +3.8% (as expected). This marks the value yearly core inflation print in 2 years but inactive at uncomfortable levels for the Fed. Digging deeper, monthly core services inflation sled from +0.5% to +0.4%, and core goods inflation restored negative at -0.1%. A welcome improvement was the determination in shelter rents, which fell from +0.5% to +0.4%. But as markets celebrated the miss on header CPI, core services exclusive shelter, otherwise known as supercore, incorporated from +4.8% year-on-year in March, to +4.9% year-on-year. This measurement has been rising consistently since last October in year-on-year terms, so 1 to watch for in the months ahead, even as the month-on-month rate slowed from +0.6% to +0.4%. Overall, our US economics see the CPI print as a step in the right direction after the hot Q1 prints, but with further advancement needed over the coming months to give the Fed adequate assurance to cut rates on declining inflation alone. See their full reaction here

At the same time, we besides had the US retail sales date for April, which saw the header print stagnate (0.0% vs +0.4% expected). This came along a light downward revision to the March reading (from +0.7% to +0.6%). The retail control group, which feeds into GDP, fell by -0.3% (vs +0.1% expected), with the March number besides revised lower. So, retail sales pointing to a slow start to Q2, with signs that US consumer spending has lost any of its moments. Adding to this picture, the NAHB housing marketplace index besides fell below results, dropping from 51 to 45 (vs 50 expected). This could be a lagged consequence to higher mortgage rates or mediocre weather in the Spring. Or a combination of the two.

The always so lightly weaker CPI print for April, coupled with the downside surprise to retail sales, Saw markets rise their results of Fed rate cuts for 2024, with the Odds of a rate cut by the September gathering rising from 50% to 61%. And markets moved back to pricing 2 full cuts in 2024 (+9.0bps to 52bps) for the first time since the last CPI print 5 weeks ago.

Given these developments, US Treasures recorded a solid rally across the curve. 10yr yields fell -9.9bps to 4.34%, their value levels since early April, while at the front end 2yr yields were down -9.1bps to 4.725%. This decision was led by real yields, as the 10yr real yield slipped -7.5bps, its largest decline since January. Amid the rates repricing, the broad dollar index Saw its last session of the year so far (-0.64%). This morning in Asia, 10yr US yields are also 2bps lower.

The rates rapidly echoed across the globe, as investors moved to bring forward the probability of rate cuts from another central banks. Price of a June ECB cut rose from 92% to 98%, with 75bps of cuts now priced by year-end (+7.0bps on the day). Prospects of a June cut were besides reaffirmed by the latest ECB commentary, with France’s Villeroy stationing it was “very likely [the ECB will] start cutting rates in June”, and Estonia’s Muller commenting that a “rate cut in June is very necessary”. Simulary, for the Bank of England, the chance of a 25bps cut in June rose from 55% to 60%, and for the Bank of Canada it rose from 39% to 48%. European Sovereign Bond yields had already been trading respective bases points lower on the day prior to the US data and extended their decline thereafter. Yields on 10yr bunds (-12.5bps) posted their largest decline since August, with OATs (-13.2bps), BTPs (-15.3bps) and guilts (10.8bps) all besides outside US fixed income.

With the answer in the street of upside forecasts to header inflation at least, US equities advanced as the S&P 500 gained +1.17% to a fresh all-time advanced of 5.308. All but 1 of the S&P 500 sectors were in the green, with information technology leading the charge after riding +2.29%. The NASDAQ (+1.40%) and the Magnificent 7 (+1.16%) both besides posted fresh evidence highs. But the gain were besides enjoyed more broadcast, as the Russell 2000 index of small-cap stocks rose +1.14% to its highest level since summertime March. The affirmative sentiment Saw the VIX flexibility index decline -1.0 points to 12.45, its value level since early January. meantime in Europe, the STOXX 600 increased +0.59%, which brands its 9th consecutive advance, and another all-time high.

In our fresh regular meme-stock corner, GameStop (-18.87%) slumped after an astonishing start to the week. There were besides declines for another meme-stock names that had seen sizeable gain over the erstwhile 2 days, including AMC amusement (20.00%) and Hertz (8.67%).

Overnight in Asia the hazard rapidly continues with the Hang Seng (+1.59%) leading gain after returning from a vacation with the Nikkei (+0.80%) besides trading notably higher. Elsewhere, the KOSPI (+0.70%) is besides catching up after a vacation with the CSI (+0.53%) and the Shanghai Composite (+0.43%) besides advanced but have lagged their global peers this week. S&P 500 (+0.16%) and NASDAQ 100 (+0.20%) futures proceed to edge higher.

Early morning data shown that Japan’s economy contracted in the first quarter, shrinking at an yearly rate of -2.0% (v/s -1.2% expected) as consumption and exports declined. This will complete the debate for the BoJ anyway with the Dollar Fall, the Yen is ralling. This time yesterday we were at 156.5 and we’re now at around 153.8.

Elsewhere, Australia’s unemployment rate unexpectedly advanced to +4.1% in April (v/s +3.9% expected) as again an upwardly revised +3.9% for March, thus reducing the ability of another rate hike by the Reserve Bank of Australia (RBA). The economy added a net 38,500 positions in April with full-time roles down 6,100 while part-time positions rose 44,600. The participation rate ticked higher to 66.7% in April from 66.6% in March. Following the data release, yelds on the 10yr government bonds fell sharp (-12.8bps on the day) to trade at 4.19% while the policy-sensitive 2yr bond yields has moved -111bps lower to 3.91% as I type.

Now to the day ahead, and data releases include the US April industrial production, import and export indications, housing starts, capitality utilization, building contributors, the May Philadelphia Fed business outlook, the fresh York Fed Services business activity, and first jobless claims. Outside the US, we have the Italy March trade balance. From central banks, we will hear from the Fed’s Harker, Bostic and Mester, the ECB’s Panetta, De Cos, Nagel and Villeroy, as well as the ECB’s financial stableness review. We will besides hear from the BoE’s Greene. Earnings results include Walmart, Applied Materials, Deere, and Take-Two