Asian equities advanced with European stock futures as positive momentum picked up on Tuesday following a late recovery in post-holiday trading on Wall Street. The dollar edged down after three days of gains, Treasury yields ticked lower and Bitcoin punched above $30,000 for the first time since June as it rallied more than 80% since the start of the year. Japanese shares climbed following the dovish stance of the new Bank of Japan governor, Kazuo Ueda, who signaled that any significant changes to monetary policy may be unlikely for now. The yen trimmed some of its loss of more than 1% from Monday when Ueda spoke.
South Korea’s Kospi moved higher as the central bank held interest rates unchanged while the Australian market showed strong gains after the Easter long weekend. Futures for the Euro Stoxx 50 jumped about 0.7% and contracts for the S&P 500 rose around 0.1%. Gains in Hong Kong and Shanghai faded amid focus on Chinese inflation data. Consumer prices were softer than expectations and deflation in factory-gate prices matched estimates, likely keeping the stimulus option open for policymakers. Markets are pricing for a strong likelihood the Federal Reserve will hike interest rates by a quarter-point May 3 to contain inflation. That’s in contrast to Asian central banks that are starting to pause. It’s also a stark turnaround from March 22 when the Fed set its policy band at 4.75%-5% and the odds of a May rate hike almost vanished amid the turmoil in the banking sector. The yield on policy-sensitive two-year Treasuries eased back below 4% Tuesday after climbing Monday as traders positioned for the Fed to hike. In the US Monday, the S&P 500 eked out a gain in the final minutes of the session after spending most of the day in the red. The Nasdaq 100 pared losses into the close, ending marginally lower as an Apple Inc. report that personal computer shipments fell sharply weighed on the tech-heavy benchmark. Investors are now awaiting Wednesday’s report on consumer prices, which is expected to show a 0.4% monthly increase in the core consumer price index, for more assurance on the Fed’s rate path. Meanwhile, Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. will kick off reporting for the banking sector Friday, offering insights on the health of the financial system. In the US Monday, the S&P 500 eked out a gain in the final minutes of the session after spending most of the day in the red. The Nasdaq 100 pared losses into the close, ending marginally lower as an Apple Inc. report that personal computer shipments fell sharply weighed on the tech-heavy benchmark. Investors are now awaiting Wednesday’s report on consumer prices, which is expected to show a 0.4% monthly increase in the core consumer price index, for more assurance on the Fed’s rate path. Meanwhile, Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. will kick off reporting for the banking sector Friday, offering insights on the health of the financial system. oil trimmed some of a recent loss, with West Texas Intermediate trading back around $80 a barrel. Gold was slightly higher and near $2,000 an ounce. US After Hours Quiet session; BKD +10.7% up on adjusted EBITDA guidance; PSMT +4.4% up on earnings; TLRY -4.2% slipping on FebQ sales miss, HEXO purchase.
Nikkei +1,29% HAng Seng +0,18% CSI -0,35% Shanghai -0,39% Shenzen -0,23%
Eur$ 1,0888 CNH 6,8882 CNY 6,8840 JPY 133,29 GBP 1,2407 CHF 0,9075 RUB 81,6540 TRY 19,2747 WTI$ 80,42 +0,70% Gold 2000 BTC 30,030 +3% ETH 1,920 +1,75%
S&P +0,13% Nasdaq +0,05% EuroStoxx +0,54% FTSE +0,65% Dax +0,57% SMI +0,36%
Macro :
- OPEC+ Shock Revives Oil Bulls Even as Demand Warnings Flash
- China AI Stocks Sink on Call for State to Stem Bubble Risk
- Oil Fund Outflows May Point to Demand Concerns After OPEC+ Cut
- OIL MAY FLIRT WITH $60S BUT NOT FOR LONG, SAYS CITI'S MORSE
- M&A Drought in Europe Forces Merger Arb Fund to Take More Risks
Keep an eye on :
- AIR FP : Airbus Helicopters and China’s GDAT Sign for 50 H160 Helicopters
- BABA US : Alibaba Enters ChatGPT Fray With AI in Speaker, Slack-Like App
- ALO FP : Alstom Wins $401M Operations Contract From Maryland Transit
- BATS LN : BAT Invests $10 Million in Venture for CBD Brain Drug
- BNP FP : BNP Raised Bonus Pool for Top Investment Bankers by 14% in 2022
- BORR NO : Borr Drilling Gets $123m Contract for Jack-Up Rig Hild
- CSGN SW : Swiss Government Set for Grilling Over UBS-Credit Suisse Deal
- ENEL IM : Enel Sells Peru Assets to China’s CSGI for About $2.9 Billion
- EVT GY : Evotec Reports Cyber Attack; IT Systems Shut Down Proactively
- FER SM : Spain Sends Letter to Ferrovial Questioning Dutch Move Plans
- FLTR LN : Flutter Close to Appointing John Bryant as Chairman, Sky Reports-
- FLS DC : FLSmidth Gets DKK350 Million Order for Middle East Gold Mine
- GLEN LN : Canada’s Lassonde Plans to Buy Stake in Teck Spinoff: Report
- RMS FP : Hermes Boosts Kelly Bag Output With New Normandy Facility
- IDR SM : Funds Sound Out Amber to Gain Control of Indra: El Confidencial
- IDR SM : Amber CEO Denies Plotting Indra Takeover With Investment Firms
- JPM US : JPMorgan Subpoenaed by Comer in Biden Family Probe: Politico
- LGEN LN : Legal & General and the £1.5 Trillion UK Defined-Benefit Market
- LKOH RM : Italy Takes Extra Time to Review Sale of Lukoil Refinery: FT
- EMG LN : Flows and Fundamentals Make Man Group Suspicious of Stock Rally
- NEM US : Newcrest Gets Revised Offer From Newmont of A$32.87/Shr
- NOKIA FH : Nokia Gets Contract From Zain Jordan to Supply 5G Equipment
- NOKIA FH : Huawei Blocks Nokia’s Attempt to Sell JV to Chinese Buyer
- PACEU NA : Pegasus Europe to Cease Ops; Return Capital to Investors May: FT
- PHIA NA : Philips Respironics Recalls Certain CPAP, BiPAP Machines: FDA
- REP SM : Argentina’s YPF, Spain’s Repsol to Pay $575m in Maxus Case
- RXL FP : Rexel Sales-Growth Trajectory Buoyed by Energy-Transition Focus
- SAN FP : Sanofi Withdraws, Refiles Premerger Notification for Provention
- SOBI SS : Sobi Signs Royalty Pact With Sanofi, Ends Deal With AstraZeneca
- SWON SW : SoftwareOne Proposes Adam Warby as Chairman, von Stockar Resigns
- TRE SM : Tecnicas Reunidas to Issue 24m Shares For EU150m Capital Raise
- TIT IM : Vivendi Criticizes Telecom Italia Performance, Bonuses: Il Sole
- TKA GY : Thyssenkrupp Examining ‘All Options’ for Naval Unit, FAS Reports
- TTE FP : TotalEnergies Says Donges Refinery to Resume Work
- VIV FP : Vivendi Criticizes Telecom Italia Performance, Bonuses: Il Sole
- VPK NA : Vopak to Buy 50% of Shares in Gasunie’s EemsEnergyTerminal
- WE US : WeWork Adopts Stockholder Rights Plan