Soft open for US stocks ahead of key labor/service data

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<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local i government financing vehicle loans to avert a credit crunch.  "}]}" data-slate-node="element">China President Xi tells military to firmly safeguard sovereignty and to strengthen military drills</li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local i government financing vehicle loans to avert a credit crunch.  "}]}" data-slate-node="element">Tesla and China’s top car manufacturers pledge to avoid ‘abnormal pricing’</li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local i government financing vehicle loans to avert a credit crunch.  "}]}" data-slate-node="element">Fed rate hike expectations for the July 26th meeting stand at 85.3%, up from 81.1% at the end of last week.</li>
</ul>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local i government financing vehicle loans to avert a credit crunch.  "}]}" data-slate-node="element"><span data-slate-node="text"><span>Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local government financing vehicle loans to avert a credit crunch.  </span></span></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local i government financing vehicle loans to avert a credit crunch.  "}]}" data-slate-node="element"><strong>It will be a busy morning as traders pay close attention to ADP employment change, trade data, initial jobless claims, JOLTS job openings, and the ISM services Index.  </strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports.  The Fed Minutes did no favors for sentiment as officials favor a July rate increase and as they project a recession to start at the end of 2023.  In Asia, risk appetite took a hit after China denied reports that China banks will be offering loans to local i government financing vehicle loans to avert a credit crunch.  "}]}" data-slate-node="element"><a href="https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42.png"><img loading="lazy" class="alignnone size-large wp-image-806201" src="https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42-1024×428.png" alt="" width="700" height="293" srcset="https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42-1024×428.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42-300×125.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42-768×321.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42-1536×642.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/07/ES1_2023-07-06_06-54-42.png 1842w" sizes="(max-width: 700px) 100vw, 700px" /></a></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Treasury yields are rising on expectations the labor market will slowly cool.  UK Gilts are surging as inflation risks remain elevated and as traders anticipate a peak rate north of 6.435%.  "}]}" data-slate-node="element"><span data-slate-node="text"><span>Treasury yields are rising on expectations the labor market will slowly cool.  UK Gilts are surging as inflation risks remain elevated and as traders anticipate a peak rate north of 6.435%.  </span></span></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Treasury yields are rising on expectations the labor market will slowly cool.  UK Gilts are surging as inflation risks remain elevated and as traders anticipate a peak rate north of 6.435%.  "}]}" data-slate-node="element"><a href="https://www.marketpulse.com/wp-content/uploads/2023/07/USD-and-yields.jpg"><img loading="lazy" class="alignnone size-full wp-image-806200" src="https://www.marketpulse.com/wp-content/uploads/2023/07/USD-and-yields.jpg" alt="" width="736" height="530" srcset="https://www.marketpulse.com/wp-content/uploads/2023/07/USD-and-yields.jpg 736w, https://www.marketpulse.com/wp-content/uploads/2023/07/USD-and-yields-300×216.jpg 300w" sizes="(max-width: 736px) 100vw, 736px" /></a></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Yellen in China"}]}" data-slate-node="element"><span data-slate-node="text"><span>Yellen in China</span></span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Treasury Secretary Yellen’s trip to China won’t yield any breakthroughs or compromise on some of the major issues, but it will restart the dialogue amongst the two largest economies.  US-China tensions won’t be easing but this trip could lead to some stability with some of the geopolitical risks. Yellen will be in Beijing through July 9th.  "}]}" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text"><span>Treasury Secretary Yellen’s trip to China won’t yield any breakthroughs or compromise on some of the major issues, but it will restart the dialogue amongst the two largest economies.  US-China tensions won’t be easing but this trip could lead to some stability with some of the geopolitical risks. Yellen will be in Beijing through July 9th. </span></span></p>