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7 things to know in front of the bell



  pre-trade Friday
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. 1 Xiaomi Prize: Xiaomi, a smart phone manufacturer that has successfully sold in China and India, has announced its IPO in Hong Kong.

The technology company sold nearly 2.2 billion shares at the lower end of its target range of nearly 17 billion shares at 22 Hong Kong dollars ($ 2.17 to $ 2.80), according to media reports.

The Beijing electronics company is known for its affordable iPhone alternatives and Internet-enabled rice cookers.

Investors may be concerned about the growth potential and margins of the company.

2. Another blow to the Germans: Deutsche Bank ( DB ) was the only major financial institution that failed the US Federal Reserve's annual stress tests duration.

The central bank protests against the capital plan of the US subsidiary of the German bank and cites "widespread and critical deficiencies in the capital planning practice of the company".

Although the stress test showed that the bank's US arm would survive a recession, it also found "significant weaknesses", including its data capabilities and controls, as it predicts losses under stress and risk management functions such as internal audit.

In a statement, the bank said its US subsidiary has made "significant investments" to improve its capital planning, controls and infrastructure.

It is the latest in a series of setbacks for the German, which has been losing money for years, lagging behind its global rivals and trying to find its bearings after the global financial crisis.

The shares of the largest German lender rose by 1

.7% on Friday.

3. Novartis spin: Novartis ( NVS ) has announced that it will abolish its eye care products business Alcon. The pharmaceutical giant said the move would allow it to focus more on its core business.

Novartis bought Alcon from Nestlé in 2011. The company estimated the company at over $ 50 billion.

Novartis shares climbed 3% in Zurich. The company also announced that it would buy back $ 5 billion worth of shares by the end of 2019.

4th Half: The second quarter ends on Friday.

It has been a mixed year for US equities: The Nasdaq gained almost 10% in 2018, while the S & P 500 gained nearly 2%. The Dow has fallen 2%.

Fears over a global trade war have fueled volatility. The Dow crashed twice in the quarter by 1,000 points.

5. Overview of the Global Market: The US stock futures pointed upwards.

European markets became higher after EU leaders reached an agreement on migration. Asian stocks have also risen.

The Dow added 0.4% on Thursday. The S & P 500 rose 0.6% and the Nasdaq 0.8%.

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6. Income and Economy: Constellation Brands ( STZ ) will release the result before the opening.

The Bureau of Economic Analysis will publish personal income and expense reports for May along with the latest inflation data at 8:30 am ET.

The University of Michigan Consumer Consensus Report for June follows at 10:00

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7. This week come:
Friday – Consensus Statement of the University of Michigan, Inflation Data

CNNMoney (London) First published on June 29, 2018: 5:10 AM ET


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