Morning Briefing: Markets focus on CPI, jobs, Greece

Markets focus on CPI, jobs, Greece... GM, FCA in forced merger stand-off...AT&T fined $100 million over data plans... Greenback to discover its feminine side...

Steve Randall
Markets focus on CPI, jobs, Greece
Wall Street is expected to open flat Thursday as consumer prices and jobless claims are weighed by investors and talks in Europe will be closely watched for a Greek debt deal. Wednesday’s announcement from the Fed which increases expectation for a September rise in interest rates but incremental increases to be at a slow pace will also play a part in trading. Asian markets closed Thursday’s session with losses following the Fed, concern over Greece and local economic activity. European markets are trading lower so far ahead of a meeting of Eurozone finance ministers.

US stock futures are trending higher. Oil is trending higher (Brent $64.91, WTI $60.81 at 6.15am ET). Gold is trending higher.
Today’s data
Consumer price index at 8.30am ET
Jobless claims at 8.30am ET
Current account at 8.30am ET
Bloomberg consumer comfort index at 9.45am ET
Philadelphia Fed business outlook at 10am ET
Leading indicators at 10am ET
Culp, Rite Aid and Smith & Wesson are among the companies reporting earnings today.
Fitbit makes stock market debut.
GM, FCA in forced merger stand-off
Fiat Chrysler Automobiles wants to merge with General Motors but having been knocked back earlier in the year the firm is pushing ahead with plans to force a deal. Reuters says the two firms are consulting with investment banks as the stand-off intensifies. Goldman Sachs and Morgan Stanley are believed to be advising GM with UBS advising FCA.

AT&T fined $100 million over data plans
Telecom giant AT&T has been fined $100 million by the FCC for “misleading” customers over its unlimited data plans. The regulator said that the network restricted data speed once users had passed certain thresholds and did not adequately inform them; this despite plans being “unlimited”. The FCC says customers are entitled to get what they pay for. CNN reports that AT&T will fight the fine.
Greenback to discover its feminine side
The US dollar will make history in 2020 as a woman appears on a bill for the first time. The $10 bill will include a famous female face the Treasury announced Wednesday, saying the move had been “years in the making”. Who the lucky gal will be is yet to be announced but it won’t be a current celebrity; Treasury rules state that it must be someone who’s deceased.