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U.S. Manufacturing Growth Slows Modestly In June

Ibtihaj Muhammad To Narrate ‘Rebel Girls Go For Gold’ Podcast For Audible

As the Olympics get closer, Audible is jumping into more related audio programming.

The Amazon-owned audio service and multi-platform brand Rebel Girls have launched the Rebel Girls Go For Gold podcast that will look at some of the most impressive performances through Olympics history.

The six-part series, narrated by activist and Olympic medalist in fencing Ibtihaj Muhammad, will explore the first woman marathon runner in the late 1800s to a young BMX racer from Colombia planning to compete in the upcoming Tokyo games. It will spotlight six amazing women and girls from all over the world who broke Olympic barriers, fought for their right to compete, wowed the world with their athletic talent, and left the Olympic sports arena changed for all those who came after them.

It will feature stories of Stamata Revithi, Lis Hartel, Anita Defrantz, Nadia Comaneci, Kim Soo-Nyung and Mariana Pajon.

Watch on Deadline

Muhammad was a 2016 Olympic bronze medallist and became the the first American woman to compete in the Olympics in hijab.

It comes as Rebel Girls is preparing to launch the Rebel Girls Champions book in September.

You can listen here.

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Cycling: Mark Cavendish wins again on Tour de France stage 6

CHATEAUROUX, FRANCE (REUTERS) – Briton Mark Cavendish won the sixth stage of the Tour de France, a 160.6-km ride from Tours, on Thursday (July 1).

The Deceuninck-Quick Step rider now has 32 stage wins on the Tour and is two shy of the all-time record of Belgian great Eddy Merck.

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European Economics Preview: Germany Gfk Consumer Confidence Data Due

Consumer sentiment survey data from Germany is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, German GfK consumer confidence survey results are due. Economists expect the forward-looking sentiment index to improve to -4 in July from -7 in June.

At 3.00 am ET, Spain’s INE releases producer prices for May.

At 4.00 am ET, the European Central Bank publishes monetary aggregates for May. M3 money supply is expected to climb 8.5 percent annually versus 9.2 percent in April.

In the meantime, Italy’s business and consumer confidence survey results are due.

At 6.00 am ET, the Confederation of British Industry is slated to release Distributive Trades survey results. The retail sales balance is forecast to drop to 14 percent in June from 18 percent in May.

Options trader makes $5 million bet on General Electric finishing the year strong

A $5 million bullish bet on General Electric took the options market by storm on Wednesday. The wager comes following an announcement earlier this week that United Airlines will purchase 200 jets from Boeing, a major boost for GE's aviation division.

The stock has been volatile in recent months, down 4% since the beginning of June but still up 2% since early May. However, bullish bets decidedly outpaced their bearish counterparts in Wednesday's session.

"[GE] traded about two times the average daily volume, but calls outpaced puts by [a ratio of] about 4.5-to-1. One particular trade really stood out: 50,000 contracts of the January 2022 $14 calls were purchased for about $1 earlier [Wednesday]," OptionsPlay chief strategist Tony Zhang said Wednesday on CNBC's "Fast Money."

"So this particular trader laid out $5 million in premium to bet that GE will be above $15 by January 2022, which is about 11% higher than where it's currently trading today."

The options market is currently implying about a 26% chance that GE will be above $15 by January 2022 expiration, or slightly better than 1-in-4 odds that this bet will pay off.

GE was trading about 0.5% higher in Thursday's session.

Disclaimer

Aligos Therapeutics Shares Fall 18%

Shares of clinical stage biopharmaceutical company Aligos Therapeutics, Inc. (ALGS) are down 18 percent on Thursday’s trading.

The company priced its public offering of 4.4 million shares at $19.00 per share. All the shares are being offered by the company itself. Aligos expects to generate gross proceeds of $83.6 million from the offering, which will close on July 6.

Currently trading at $16.70, the stock has traded between $12.82 and $37.51 during the past 52 weeks.

U.S. Manufacturing Growth Slows Modestly In June

A report released by the Institute for Supply Management on Thursday showed a modest slowdown in the pace of growth in U.S. manufacturing activity in the month of June.

The ISM said its manufacturing PMI slipped to 60.6 in June from 61.2 in May, although a reading above 50 still indicates growth in the manufacturing sector. Economists had expected the index to edge down to 61.0.

The modest decrease by the headline index partly reflected a slowdown in the pace of growth in new orders, as the new orders index fell to 66.0 in June from 67.0 in May.

The employment index also slid to 49.9 in June from 50.9 in May, indicating a slight contraction after six straight months of job growth.

On the other hand, the report showed the production index climbed to 60.8 in June from 58.5 in the previous month.

The prices index also jumped to 92.1 in June from 88.0 in May, reaching its highest reading since hitting 93.1 in July of 1979.

“Overall, the report adds to signs that the ‘transitory’ surge in prices seen over the past few months still has a little while to run,” said Michael Pearce, Senior U.S. Economist at Capital Economics.

He added, “That will make life more uncomfortable for Fed officials but, with labor shortages likely to keep a brake on employment growth, we suspect they will remain focused on the shortfall in employment from their broad-based and inclusive full employment goal.”

Next Tuesday, the ISM is scheduled to release a separate report on activity in the service sector in the month of June. The services PMI is expected to slip to 63.3 in June from 64.0 in May.