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• U.S. stock futures hold near 5-week highs as investors await earnings wave and Fed decision
  U.S. stock futures were a touch firmer on Monday as traders contemplated a week stuffed with monster...
  U.S. stock futures were a touch firmer on Monday as traders contemplated a week stuffed with monster earnings and Fed action.
  

  
  
  • Futures on the Dow Jones Industrial Average futures YM00 added 163 points, or 0.5%, to 32,038.
  
  
  • S&P 500 futures ES00 rose 19 points, or 0.5%, to 3,984.
  
  
  • Nasdaq 100 futures NQ00 gained 53 points, or 0.4%, to 12476.50.
  
  

  
  The Dow Jones Industrial Average DJIA last week rose 2%, while the S&P 500 SPX gained 2.6% and the Nasdaq Composite COMP advanced 3.3%. The Russell 2000 index RUT of small cap stocks is up 5.8% so far in July
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• What Else is Brewing Monday Morning
  The deal between Russia and Ukraine to release blockaded Ukrainian grain got off to a bumpy start after Russia launched missile strikes on the Black Sea port city of Odessa. Ukraine said it’s still moving forward with its plan to resume grain exports.
  
  Average US gas prices have plunged 32 cents in the past two weeks to $4.54/gallon.
  
  President Biden’s symptoms from Covid “continue to improve significantly,” the WH physician said.
  
  The Sakurajima volcano in Japan erupted on Sunday night, prompting officials to raise their warnings to the highest level.
  
  The X Factor UK released never-before-seen footage of when One Direction was formed.
  
  
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• Serica Energy Rejects Kistos’ Revised $1.4 Billion Merger Offer
  Serica Energy rejected a revised merger proposal valuing it at nearly 1.2 billion pounds...
  Serica Energy rejected a revised merger proposal valuing it at nearly 1.2 billion pounds (US$1.4 billion) from energy investment firm Kistos, saying it undervalues the British oil and gas group’s core assets.
  
  Kistos on July 25 disclosed details of the proposal, which comprised a cash-and-stock offer of 425 pence per share, representing a 19% premium to Serica’s last closing price.
  
  It also proposed that Tony Craven Walker, Serica’s chairman, take on the same role at the combined firm, and that Andrew Austin, Kistos’ chairman, assume the role of CEO.
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• Peak inflation?
  Inflation might have hit its peak, but there's still pain ahead even if prices start...
  Inflation might have hit its peak, but there's still pain ahead even if prices start to fall, according to Mohamed El-Erian, famed economist and advisor to Allianz.
  
  Here's what he told CNBC on Friday:
  
  "I think inflation has peaked in the US, at least for the next three to four months…But the problem is not that inflation is going to come down — that's a really good thing. The problem is that inflation is going to come down with growth probably going into a recession, and that's not good news."
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• Tesla Looks to Open Its EV-Charging Network
  The EV-market leader Tesla...

  The EV-market leader Tesla is bidding for a portion of billions in federal and state dollars that are up for grabs in coming years as the Biden administration, automakers and many states try to accelerate a fast-charger build-out along highways to reassure drivers that they can travel without fear of losing power.

  
  
  

  
  

  Tesla already has a national network of fast chargers for its own drivers, but they aren’t available to other types of vehicles in the U.S. For a year, the company has said it plans to open its U.S. network to others, though details about timing and whether it would open existing stations or new ones have been sparse. Recent regulatory filings and other documents indicate that the company is applying for public funding that, if granted, would require access by other makers of EVs to the network.

  
  
  
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