(RTTNews) - Indian shares opened notably higher on Tuesday as traders returned to their desks after an extended weekend.\nSentiment was underpinned by firm global cues, falling oil prices and encouraging macroeconomic released over the weekend.\nThe benchmark S&P BSE Sensex jumped 435 points, or 0.7 percent, to 59,897 while the broader NSE Nifty index was up 126 points, or 0.7 percent, at 17,824.\nAdani Ports soared 3.3 percent after its subsidiary Adani Logistics acquired inland container depot (ICD) Tumb from Navkar Corporation for Rs 835 crore.\nAsian Paints gained 2.3 percent as crude prices extended losses on fuel demand worries.\nMahindra & Mahindra rallied 2.3 percent after expanding its electric vehicle partnership with Volkswagen.\nState-run insurer LIC jumped 2.7 percent as it reported a multi-fold jump in standalone net profit to Rs. 682.89 crore for the June quarter compared to a profit of Rs. 2.94 crore in the same period last year.\nHero MotoCorp added 1.5 percent. The two-wheeler manufacturer said its consolidated Q1 profit after tax grew 71 percent year-on-year.\nONGC fell 1.6 percent despite reporting its highest quarterly net profit of Rs 15,206 crore in the June quarter on the back of record oil and gas prices.\nSBI edged up slightly after hiking lending rates.\nIOC was little changed on news it is planning to monetize two of its hydrogen generation units this year.\nThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.\nToday’s Big Picture\nAsia-Pacific equity indexes ended today’s session mixed. Hong Kong’s Hang Seng ended the day down 0.21% and Japan’s Nikkei fell 0.88% while Taiwan’s TAIEX rose 0.20%, Australia’s ASX All Ordinaries gained 0.26%, China’s Shanghai Composite advanced 0.32% and South Korea’s KOSPI 0.42%. India’s markets are closed today to celebrate the Islamic New Year which marks the start of the year 1444 AH on the Hijri calendar. By mid-day trading, European equity indices are down across the board and U.S. futures point to a muted open later this morning.\nWith little on the economic data docket today, the more than 350 companies slated to report their quarterly results will take the stock market’s reins today. Ahead of the back-to-back July inflation reports due tomorrow (CPI) and Thursday (PPI) and the impact it could have on interest rate hike expectations, it wouldn’t be surprising to see investor activity today more muted than usual, with the markets in a bit of a holding pattern.\nAt 10 AM ET, President Biden is expected to sign the CHIPS and Science Act. It provides $52.7 billion for American semiconductor research, development, manufacturing, and workforce development. This includes $39 billion in manufacturing incentives, including $2 billion for the legacy chips used in automobiles and defense systems, $13.2 billion in R&D and workforce development, and $500 million to provide for international information communications technology security and semiconductor supply chain activities. It also provides a 25 percent investment tax credit for capital expenses for the manufacturing of semiconductors and related equipment. It’s not going to undo years of offshoring overnight, but it is a step in the right direction towards what we’ll call silicon independence.\nData Download\nInternational Economy\nReaders should take a pause to enjoy the fact that there are no market moving economic data points being published today for the international markets. Tomorrow it’s back to business with a number of Consumer Price Indices being published.\nDomestic Economy\nThe NFIB Small Business Optimism Index edged higher to 89.9 in July, up from June’s 89.5, which was the lowest reading since January 2013. 37% of business owners reported that inflation was their most important problem and 49% had job openings they could not fill.\nAt 8:30 AM ET, the 2Q 2022 preliminary figures for Productivity and Unit Labor Costs will be published. Productivity is expected to be -4.5% vs. -7.3% in 1Q 2022 while Unit Labor Costs are expected to ease to 9.3% vs. 12.6% in the prior quarter.\nMarkets\nThe past few days have resulted in some relatively tame results for markets as investors wait for more updates on inflation and inflation-related economic releases. True, there have been some individual names that have shown earnings-related volatility like yesterday’s Nvidia (NVDA) negative pre-announcement, but for the most part, we seem to be tip-toeing our way toward consensus on Fed moves and their impact. Aside from the Russell 2000’s 1.01% return yesterday, markets ended the day almost flat as the Dow rose 0.09%, the Nasdaq Composite declined a mere 0.12% and the S&P 500 ended the day only 0.10% down.\nHere’s how the major market indicators stack up year-to-date:\nDow Jones Industrial Average: -9.65%\nS&P 500: -13.14%\nNasdaq Composite: -19.18%\nRussell 2000: -13.54%\nBitcoin (BTC-USD): -51.01%\nEther (ETH-USD): -54.16%\nStocks to Watch\nBefore trading kicks off for U.S.-listed equities, Avaya Holdings (AVYA), Bausch Health (BHC), Capri Holdings (CPRI), Ceva (CEVA), Emerson (EMR), EVgo (EVGO), Global Foundries (GFS), Hyatt Hotels (H), Planet Fitness (PLNT), Ralph Lauren (RL), Spirit Airlines (SAVE), Sysco (SUU), and Warner Music Group (WMG) will be among the companies issuing their latest quarterly results and guidance.\nWith the anticipated grants and credits made possible by the CHIPS and Science Act, Micron Technology (MU) announced plans to invest $40 billion through the end of the decade to build leading-edge memory manufacturing in multiple phases in the U.S. Micron also shared that due to macroeconomic factors and supply chain constraints it has seen a broadening of customer inventory adjustments leading to softer DRAM and NAND expectations since it reported its June 2022 quarterly results. For the current quarter, Micro now sees its revenue at or below the low end of the $6.8-$7.6 billion revenue guidance it provided during its last earnings call.\nJune quarter results at Global Foundries (GFS) bested top and bottom line expectations, and the company issued upside guidance with EPS of $0.59-0.65 vs. the $0.44 consensus and revenue of $2.04-$2.07 billion vs. $1.99 billion for the current quarter. For those unfamiliar with Global Foundries, its end market exposure is 49% smart mobile devices, 17% communications infrastructure and data center, 17% home and industrial IoT, 8% automotive, and 4% personal computing.\nWhile Blink Charging (BLNK) reported a 164% increase in quarterly revenue to $11.5 million that included a 154% jump in its Service revenue, its adjusted EBITA swelled to a loss of $15.6 million vs. $8.1 million in the year ago quarter. The company ended the quarter with $85.1 million in cash and 5,631 charging stations contracted, deployed, or sold during the quarter.\nFintech company Upstart (UPST) top and bottom line consensus expectations for its June quarter and guided the current quarter below consensus expectations as well. Revenue for the June quarter rose 17.6% YoY to $228 million as its bank partners originated 321,138 loans, totaling $3.3 billion, across the company’s platform up 12%YoY. The conversion on rate requests was 13% in 2Q 2022 down from 24% YoY. For the current quarter, Upstart sees EPS of -$0.11 vs. the $0.20 consensus and $170 million in revenue vs. the $246.58 million consensus.\nShares of insurance company Lemonade (LMND) soared in after hours trading last night after reporting its June quarter revenue and EPS topped consensus expectations. The company also reported a 31% increase in customer count YoY alongside an 18% YoY increase in premium per customer to $290. Lemonade issued upside guidance for both the current quarter and 2022.\nShares of Allbirds (BIRD) sunk in aftermarket trading after the company slashed its full-year guidance and shared it would be cutting its workforce by ~8%. For the full year, the company now sees $305-$315 million in revenue vs. its prior guidance of $335-$345 million.\nShares of Tyson Foods (TSN) fell as the company reported weaker-than-expected quarterly earnings and warned of supply constraints and reduced demand for high-priced beef.\nTesla (TSLA) sold 28,217 China-made vehicles in July, down 14.41% YoY and 64.24% MoM. For context, wholesale sales of new energy passenger vehicles in China during July were 564,000 units, up 123.7% YoY and down 1.1% MoM, according to the CPCA.\nIPOs\nAs of now, no IPOs are slated to be priced this week. Readers looking to dig more into the upcoming IPO calendar should visit Nasdaq’s Latest & Upcoming IPOs page.\nAfter Today’s Market Close\nAkami (AKM), Alarm.com (ALRM), Arlo Technologies (ARLO), Axon (AXON), Celsius (CELH), Coinbase Global (CON), Inter Parfums (IPAR), InterActive Corp. (IAC), Plug Power (PLUG), Rackspace Technology (RXT), Roblox (RBLX), SailPoint (SAIL), The RealReal (REAL), The Trade Desk (TTD), and Wynn Resorts (WYNN) are expected to report their quarterly results after equities stop trading today. Those looking for more on which companies are reporting when, head on over to Nasdaq’s Earnings Calendar.\nOn the Horizon\nWednesday, August 10\nJapan: Producer Price Index - July\nChina: Consumer Price Index, Producer Price Index - July\nGermany: Consumer Price Index - July\nItaly: Consumer Price Index - July\nUS: Weekly MBA Mortgage Applications\nUS: Consumer Price Index – July\nUS: Wholesale Inventories - June\nUS: Weekly EIA Crude Oil Inventories\nThursday, August 11\nGermany: Thomson Reuters Ipsos Monthly Global Primary Consumer Sentiment Index - August\nUS: Weekly Initial & Continuing Jobless Claims\nUS: Producer Price Index – July\nUS: Weekly EIA Natural Gas Inventories\nFriday, August 12\nJapan: Thomson Reuters Ipsos Monthly Global Primary Consumer Sentiment Index - August\nChina: China Thomson Reuters Ipsos Monthly Global Primary Consumer Sentiment Index - August\nEurozone: Industrial Production - June\nUS: Import\/Export Prices – July\nUS: University of Michigan Consumer Sentiment Index (Preliminary) – August\nThought for the Day\n“When I eventually met Mr. Right I had no idea that his first name was Always.” ~ Rita Rudner\nDisclosures\nSailPoint (SAIL) is a constituent of the Foxberry Tematica Research Cybersecurity & Data Privacy Index\nPlug Power (PLUG), Allbirds (BIRD), Tesla (TSLA), Blink Charging (BLNK) are constituents of the Tematica BITA Cleaner Living Index\nPlug Power (PLUG), Allbirds (BIRD), Tesla (TSLA), Blink Charging (BLNK) are constituents of the Tematica BITA Cleaner Living Sustainability Screened Index\nThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.\nToday’s Big Picture\nAsia-Pacific equity indexes ended today’s session down across the board. India’s Sensex ended the day essentially flat, down 0.06%, China’s Shanghai Composite and Australia’s ASX All Ordinaries declined 0.54% and 0.55%, respectively while Japan’s Nikkei fell 0.65%, Taiwan’s TAIEX dropped 0.74% and South Korea’s KOSPI declined 0.90%. Hong Kong’s Hang Seng led the way, down 1.96% on a broad selloff led by Health Technology and Health Services names while Transportation and Communications sectors provided the only relief. By mid-day trading, major European equity indices are down across the board and U.S. futures point to a positive open later this morning.\nAt 8:30 AM ET, the much anticipated July Consumer Price Index (CPI) report was released: The headline figure for the month was expected to fall to 8.7% from June’s blistering 9.1% reading with core CPI that excludes food and energy ticking higher to 6.1% in July vs. 6.0% the prior month. The actual numbers show that inflation hit 8.5%, and core inflation was 5.9%. With the national average retail price for a gallon of gas falling through late June and July from its June 14 high of $5.016 per gallon per data from AAA, forecasters had expected the month over month decline in the headline CPI for July. The July Employment Report also showed wage inflation ran hotter than expected during the month.\nLet’s also keep in mind that we will be facing a “wash, rinse, repeat” cycle when it comes to inflation data and expectations for the Fed given tomorrow’s July Producer Price Index report.\nData Download\nInternational Economy\nProducer prices in Japan rose by 8.6% YoY in July, compared with market forecasts of 8.4% and following an upwardly revised 9.4% the prior month. While marking the 17th straight month of producer inflation, the latest reading was the softest since last December.\nChina's annual inflation rate rose to 2.7% in July from 2.5% in June and compared with market forecasts of 2.9% but even so the July figure marked the highest reading in the last year. The country’s Producer Price Inflation figure for July eased to a 17-month low of 4.2% YoY from 6.1% the prior month and less than the market consensus of 4.8%.\nAnnual inflation rate in Germany was confirmed at 7.5% YoY for the month of July, down slightly from June’s 7.6% reading but still above the March and April figures of 7.3%-7.4%.\nThe annual inflation rate in Italy slowed to 7.9% YoY in July from June’s 8% reading matching expectations for the month. While energy prices declined, prices for food and transportation rose at a faster pace.\nDomestic Economy\nThis morning we have the usual Wednesday weekly reports for MBA Mortgage Applications and Crude Oil Inventories from the U.S. Energy Information Administration. At 10 AM ET, Wholesale Inventories for June will be published, and the figure is expected to rise 1.9%. While investors and economists will keep more than a passing interest in those reports and data, as we discussed above, it will be the July Consumer Price Index report at 8:30 AM ET that will shape not only how the US stock market opens today, but also expectations for the Fed’s next course of monetary policy action.\nThe U.S. Energy Information Administration (EIA) expects domestic production of crude oil, natural gas and coal will all increase next year compared with this year. It forecast US crude production rising 6.7% to an all-time annual high 12.7M bbl\/day in 2023 from 11.9M bbl\/day in 2022, US natural gas output climbing to 100B cubic feet (cf)\/day from 97B cf\/day, and US coal production inching up to 601M short tons in 2023 from an expected 599M this year. The EIA also modestly increased its 2022 average nationwide gasoline price forecast to $4.07\/GALLON vs. $4.05 if called for last month. It now also sees 2023 prices at $3.59\/GAL vs. its previous forecast of $3.57.\nMarkets\nStocks continued in their holding pattern waiting for the latest CPI print save for some fundamental stories pushing Technology names and small caps around. The Dow and the S&P 500 were down slightly at 0.18% and 0.42%, respectively while the Nasdaq Composite dropped 1.19% and the Russell 2000 closed down 1.46% on the day. Energy names led the way yesterday but were overpowered by Technology and Consumer Discretionary sectors.\nHere’s how the major market indicators stack up year-to-date:\nDow Jones Industrial Average: -9.81%\nS&P 500: -13.51%\nNasdaq Composite: -20.14%\nRussell 2000: -15.83%\nBitcoin (BTC-USD): -52.08%\nEther (ETH-USD): -55.38%\nStocks to Watch\nBefore trading kicks off, CyberArk (CYBR), Fox Corp. (FOXA), Jack in the Box (JACK), Nomad Foods (NOMD), Vita Coco (COCO), Tufin Software (TUFN), and Wendy’s (WEN) will be among the companies issuing their latest quarterly results and guidance.\nAt 9 AM ET, Samsung (SSNLF) will hold its Galaxy Unpacked 2022 at which it is expected to introduce new Galaxy foldable smartphone models, a new Galaxy Watch, and Galaxy Buds.\nShares of advertising technology platform company The Trade Desk (TTD) jumped after the company reported quarterly results that topped expectations and guided current quarter revenue above the consensus forecast.\nThe RealReal (REAL) reported a smaller than expected bottom line loss for its June quarter as revenue for the period rose 47.2% YoY to %154.44 million, topping the $153.99 million consensus. However, the company issued downside guidance for both the current quarter and 2022. Revenue for the September quarter is now expected to be $145-$155 million vs. the $164.3 million consensus; for the full year of 2022, revenue is forecasted to be $615-$635 million vs. the $653.7 million consensus.\nShares of Coinbase Global (COIN) moved lower after it reported June quarter results that missed top and bottom line expectations. Revenue for the quarter fell 63.7% YoY as Total trading volume fell 53.0% YoY and 29.8% sequentially to $217 billion. Monthly Transacting Users (MTUs) grew 2.3% YoY but fell 2.2% sequentially to 9.0 million. For the current quarter, Coinbase sees the number of MTUs trending lower sequentially and total trading volume to be lower compared to the June quarter.\nShares of Sweetgreen (SG) tumbled in aftermarket trading last night after the company missed quarterly revenue expectations, lowered its 2022 forecast, announced it will lay off 5% of its workforce, and downsize to smaller offices.\nChipMOS TECHNOLOGIES (IMOS) reported its July revenue was $65.1 million, a decrease of 19.4% YoY and down 7.7% MoM.\nTaiwan Semiconductor (TSM) reported its July revenue increased 49.9% YoY to NT$186.76 billion, which equates to a 6.2% MoM improvement.\nElectric vehicle subscription startup Autonomy placed a $1.2 billion order for 23K electric vehicles with 17 global automakers, including BMW (BMWYY), Canoo (GOEV), Fisker (FSR), Ford (F), General Motors (GM), Hyundai (HYMTF), Lucid Group (LCID), Mercedes-Benz (DDAIF), Polestar (PSNY), Rivian (RIVN), Stellantis (STLA), Subaru (FUJHY), Tesla (TSLA), Toyota Motor (TM), VinFast, Volvo Car (VLVOF) and Volkswagen (VLKAF).\nIPOs\nAs of now, no IPOs are slated to be priced this week. Readers looking to dig more into the upcoming IPO calendar should visit Nasdaq’s Latest & Upcoming IPOs page.\nAfter Today’s Market Close\nBumble (BMBL), CACI International (CACI), Coherent (COHR), Dutch Bros. (BROS), Red Robin Gourmet (RRGB), and Walt Disney (DIS) are expected to report their quarterly results after equities stop trading today. Those looking for more on which companies are reporting when, head on over to Nasdaq’s Earnings Calendar.\nOn the Horizon\nThursday, August 11\nGermany: Thomson Reuters Ipsos Monthly Global Primary Consumer Sentiment Index - August\nUS: Weekly Initial & Continuing Jobless Claims\nUS: Producer Price Index – July\nUS: Weekly EIA Natural Gas Inventories\nFriday, August 12\nJapan: Thomson Reuters Ipsos Monthly Global Primary Consumer Sentiment Index - August\nChina: China Thomson Reuters Ipsos Monthly Global Primary Consumer Sentiment Index - August\nEurozone: Industrial Production - June\nUS: Import\/Export Prices – July\nUS: University of Michigan Consumer Sentiment Index (Preliminary) – August\nThought for the Day\n“The release date is just one day, but the record is forever.” ~ Bruce Springsteen\nDisclosures\nTufin Software (TUFN), CyberArk (CYBR) are constituents of the Foxberry Tematica Research Cybersecurity & Data Privacy Index\nCanoo (GOEV), Fisker (FSR), Lucid Group (LCID), Rivian (RIVN), Tesla (TSLA), Vita Coco (COCO) are constituents of the Tematica BITA Cleaner Living Index\nCanoo (GOEV), Fisker (FSR), Lucid Group (LCID), Rivian (RIVN), Tesla (TSLA), Vita Coco (COCO) are constituents of the Tematica BITA Cleaner Living Sustainability Screened Index\nThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.