S&P futures are pointing to a flat open today ahead of the annual payrolls benchmark revision and the July FOMC minutes. Asian markets finished Wednesday trading broadly lower, and European equity markets are higher in early trades. For today's highlight, China tech shares declined as the Hang Seng Tech index fell (1.9%). JD.com saw a (9%) drop after reports that Walmart (NYSE:WMT) sold its stake in the company, raising $3.6B at an 11% discount. Analysts suggest the sale affects sentiment across the tech sector, with local investment insufficient for a substantial recovery. Kuaishou Technology fell nearly (10%) due to disappointing ad revenue, while Vipshop Holdings dropped (18%) on falling sales and a weak outlook. Alibaba (NYSE:BABA) and Tencent's recent results did not ease concerns over the consumer environment.
Companies Mentioned: JD.com, Walmart, Hyatt Hotels, Arch Resources