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Stock Futures Inch Up After Last Week’s Downturn: Market Outlook and Economic Factors in Focus

Stock futures experienced a modest uptick in overnight trading Sunday, seeking to rebound after the market endured a downturn last week, pausing the rally witnessed in 2024. Dow Jones Industrial Average futures saw a rise of 55 points, while S&P 500 futures and Nasdaq 100 futures edged up by 0.1%. Last week, the 30-stock Dow experienced a decline of 2.3%, marking its most challenging weekly performance since March 2023. Similarly, the S&P 500 witnessed a nearly 1% drop, its most significant weekly setback since early January.

The tech-heavy Nasdaq Composite also faced a setback, sliding by 0.8%, marking its fourth negative week out of the last five. Despite these declines, the market found solace in a stronger-than-expected jobs report on Friday, instilling optimism among investors regarding continued economic strength to support corporate earnings growth, albeit with potential implications for prolonged higher interest rates.

Bill Adams, chief economist at Comerica Bank, expressed confidence in the robustness of employment and wages, foreseeing sustained consumer spending driving economic momentum in 2024. However, investors remain attentive to forthcoming data, particularly March’s consumer and producer price indexes, expected later in the week.

Economists anticipate a 0.3% increase in the CPI number, set for release Wednesday morning, with a year-over-year rise of 3.5%. Concerns about inflation persist, with investors closely monitoring indicators to gauge the effectiveness of the Federal Reserve’s efforts in combating inflationary pressures.

Adam Crisafulli, founder of Vital Knowledge, emphasized the importance of the March price data in signaling a return to the disinflationary trajectory. Additionally, investors are contending with surging bond yields and oil prices, with the benchmark 10-year Treasury yield climbing nearly 20 basis points last week to around 4.4%, while U.S. crude oil reached $87 amid geopolitical tensions.


The global population surge is straining resources like food and water, with water scarcity becoming increasingly dire. Urbanization, industrialization, and climate change exacerbate the issue, depleting freshwater reservoirs and accelerating glacier melt. As the population nears 9 billion, projections show a looming crisis, especially in regions like the U.S., where freshwater basins may fall short by 2071.

However, innovative solutions offer hope. Energy and Water Development Corp. (EAWD) leads the charge, providing sustainable water and energy solutions globally. Their atmosphere water generation technology, a novel concept, extracts water directly from the air, offering scalable and sustainable solutions to water scarcity.

Active mainly in the U.S. and Germany, EAWD aims to expand into Latin America, focusing on vulnerable regions like Flint, Michigan. Their technology can produce up to 65 tons of water daily from atmospheric humidity, offering an independent and environmentally friendly water source. With projections showing 6 billion people facing water shortages by 2050, EAWD’s solutions are increasingly vital in combating climate-induced droughts worldwide.

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VCI Global (NASDAQ: VCIG), a diversified holding company, focuses on consulting, fintech, AI, robotics, cybersecurity, and gamification. Recently, the company achieved significant milestones to drive revenue potential directly.

VCI Global partnered with W Capital Markets Pte Ltd, a Singapore-based firm, to introduce potential clients. W Capital holds a CMS license from the Monetary Authority of Singapore and is authorized by the SGX as an IPO Issue Manager and Catalyst Full Sponsor.

The company expands its global presence from Asia by opening offices in New York and London this year and establishing an AI R&D Centre in Frankfurt. Marco Baccanello, appointed as Group Executive Director, brings extensive Silicon Valley and New York experience, enhancing the company’s expertise and market relationships.

VCI Global acquired Socializer Messenger from Cogia GmbH, a German software company. This secure messenger platform, currently serving the Portuguese Government, integrates advanced AI with privacy and security features. With the secure messaging market projected to grow at a CAGR of 22.45%, this acquisition aligns with market demand in sectors like B2G, insurance, banking, energy, and healthcare.

These milestones are crucial for driving revenue growth and enhancing the company’s ROE.

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Tesla Set to Unveil Robotaxi Product on August 8th, Elon Musk Announces

Elon Musk, CEO of Tesla, announced via a post on the social media platform X that the company will unveil its robotaxi product on August 8th, sparking anticipation among investors for this potential new business avenue amid concerns about slowing growth.

Following Musk’s tweet, Tesla shares saw a surge of over 3% in extended trading. This disclosure came shortly after Reuters reported the cancellation of plans for Tesla’s highly awaited low-cost car model, prompting Musk to accuse the news agency of misinformation. Despite Musk’s previous promises about achieving “full autonomy” for Tesla’s cars within a few years, the company has yet to deliver on its robotaxi, autonomous vehicle, or “level 3” automated vehicle technology.

Nonetheless, Tesla offers advanced driver assistance systems (ADAS), including the standard Autopilot option and the premium Full Self-Driving (FSD) option, the latter available for $199 per month for U.S. subscribers or $12,000 upfront. In a recent move to boost end-of-quarter sales, Musk mandated that all sales and service staff must install and demonstrate FSD for customers before vehicle delivery, emphasizing its efficacy under supervision. However, despite its name, Tesla’s premium FSD option still requires a human driver to be ready to take control when necessary.

Ah, Monday, the day when even your coffee needs a double shot. But fear not, for in the world of investing, Mondays are the runway to financial takeoff. It’s like sowing seeds on fertile ground; you plant your money and watch it grow throughout the week, sprouting dividends and blossoming returns. So, while others bemoan the start of the workweek, savvy investors see Mondays as their cue to make money moves and turn those Monday blues into greenbacks.