Awaiting tonight's CPI! The three major US stock index futures are stable, Chinese concept stocks are trading lower pre-market, and European stocks are collectively opening higher

Overnight, the US July PPI fell more than expected, cooling inflation and strengthening rate cut expectations, leading to a rise in US stocks and bonds. Before the US stock market opens today, there is not much market volatility, as investors are waiting for the US CPI data tonight.

• US stock index futures are mostly flat, with Dow futures up slightly by 0.04%.
• Chinese concept stocks are trading lower before the US market opens, with Bilibili and XPeng both dropping over 2%. Semiconductor stocks are slightly up, with AMD rising over 1%.
• European stocks open higher, with LVMH up over 1% and Novo Nordisk down nearly 1%.
• Commodities are generally up. Brent crude and WTI crude are up by 0.4%.

The US July CPI data will be released at 20:30 tonight. After the US stock market closes, Cisco will report its earnings, while Tencent Holdings has already reported its earnings before the market opens, with a 8% year-on-year increase in Q2 revenue and a significant 82% surge in net profit, far exceeding expectations.

US stock index futures stable, Chinese concept stocks decline

Currently, Nasdaq 100 index futures and S&P 500 index futures are relatively stable with little fluctuation, while Dow futures are slightly up.

Chinese concept stocks are generally trading lower before the market opens, with Bilibili, XPeng, Li Auto, and Alibaba all down by nearly 1% to over 2%.

Most semiconductor stocks are slightly up, with AMD rising over 1%, while NVIDIA and Micron Technology are slightly up, and TSMC is down by nearly 1%.

Kellogg's is up over 8% before the market opens, as Mars, the maker of Snickers, plans to acquire it at $83.5 per share.

European stocks open higher, Novo Nordisk down nearly 1%

European stocks open higher, with the Euro Stoxx 50 index up by 0.5%, the German DAX index up by 0.5%, the UK's FTSE 100 index up by 0.6%, and the French CAC 40 index up by 0.7%.

Currently, European stocks have slightly narrowed their gains, with the German DAX index's increase falling back to 0.2%.

Most of the "Eleven Arhats" in European stocks are up, with LVMH and SAP both rising over 1%. Novo Nordisk is down nearly 1%, as the world's largest sovereign wealth fund has reduced its holdings in Novo Nordisk, Meta, and ASML

Commodities Rise Across the Board

Before the U.S. stock market opens, Brent crude oil and WTI crude oil are slightly up, while spot gold is up about 0.2%.