Stocks extended a rally Thursday following softer-than-expected US inflation data, which stoked speculation that the Federal Reserve could pivot to a shallower pace of interest-rate hikes. European futures rose after the S&P 500 hit a three-month high and the Nasdaq 100 pulled 20% above a June low. The advance in China’s bourses lagged as investors digested a warning from its central bank about inflation threats and a pledge to avoid massive stimulus.
The dollar edged up, paring a retreat from a day earlier that was the biggest since the onset of the pandemic. Singapore’s currency weakened after the city state trimmed its 2022 economic growth forecast. Short-term Treasury yields dropped Wednesday as investors scaled back expectations of how aggressively the Fed will have to tighten monetary policy. There’s no cash Treasuries trading in Asia due to a Japan holiday. US headline inflation was 8.5% in July, down from the 9.1% June advance that was the largest in four decades. That’s still high and Fed officials were quick to stress more rate hikes are coming. They also signaled investors should rethink expectations of cuts next year to shore up economic growth. The question is whether the rebound in global equities and other riskier investments from this year’s rout can continue against that backdrop. crude oil held most of a jump above $91 a barrel, while Bitcoin broke past $24,000 in a sign of the brighter spirits in markets. US After Hours DIS +6.5% on earnings and will launch ad-supported tier for Disney+; SONO -18.6%, RRGB -16.4%, BMBL -12.3%, APP -10.7% lower on earnings
Nikkei -0.65% Hang Seng +1.23% CSI +0.52% Shanghai +0.46% Shenzen +0.51%
Eur$ 1.0286 CNH 6.7407 CNY 6.7411 JPY 133.14 GBP 1.2190 CHF 0.9437 RUB 60.7354 TRY 17.8746 WTI$ 91.73 -0.21% Gold 1,786.60 -0.32% BTC 24,370 +1.92% ETH 1,880 +1.95%
S&P +0.24% Nasdaq +0.36% EuroStoxx +0.32% FTSE +0.15% Dax +0.32% SMI
Macro :
- Kashkari Says Fed to Raise Rates, Keep Them There Until CPI Ebbs
Keep an eye on :
- AGN NA : Aegon 2Q Net Loss EU365M Vs. Profit EU842M Y/y
- ALKB DC : ALK-Abello 2Q Revenue Beats Estimates
- ANTO LN : Antofagasta 1H Revenue Meets Estimates
- AR4 GY : Aurelius 1H Oper Ebitda EU127.6M Vs. EU122.4M Y/y
- POST AV : Austrian Post 2Q Ebit Beats Est.; Targets 2021 Result Levels (1)
- BAVA DC : Monkeypox Vaccine Maker Has Concerns on US Dose-Splitting: WaPo
- BELL SW : Bell 1H Ebitda CHF143.7M Vs. CHF145.7M Y/y
- GBF GY : Bilfinger 2Q Sales EU1.08B Vs. EU977M Y/y
- CEC GY : Ceconomy 3Q Adjusted Ebit Loss EU109M Vs. Loss EU93M Y/y
- COA LN : Coats to Conduct Placing to Raise About £100M
- COIN US : Coinbase Under SEC Scrutiny Over Its Crypto-Staking Programs
- COLR BB : Colruyt Family Raises Colruyt Holding to 60.9% as of Aug. 4
- CTY1S FH : Citycon Narrows FY EPRA EPS Forecast
- CSGN SW : Credit Suisse’s Top Shareholder Discloses 10% Stake After Slump
- DTE GY : Daimler Truck 2Q Adjusted Ebit Beats Estimates
- DTE GY : Deutsche Telekom FY Adj. EBITDA AL Forecast Misses Estimates
- DEZ GY : Deutz 2Q Adjusted Ebit EU26.8M Vs. EU16.0M Y/y
- DNO NO : DNO 2Q Ebitda Misses Estimates, Declares Dividend
- EUZ GY : Eckert & Ziegler Maintains FY Revenue Forecast
- EVT GY : Evotec SE Boosts FY Revenue Forecast
- FAST NA : Fastned 1H Underlying Ebitda Loss EU2.67M Vs. Loss EU2.10M Y/y
- FFARM NA : ForFarmers 1H Adjusted Ebitda EU43.1M Vs. EU40.8M Y/y
- GFT GY : GFT Boosts FY Revenue Forecast
- GLJ GY : Grenke Maintains FY Net Income Forecast
- HLAG GY : Hapag-Lloyd 1H Revenue EU16.97B Vs. EU8.75B Y/y
- HEM SS : Hemnet Chairman Hakan Erixon Resigns
- HSBA LN : HSBC's $130 Billion Market Value vs. Breakup Upside Not a Given
- INS GY : Instone Real Estate Cuts FY Adjusted Revenue Forecast
- ISS DC : ISS Boosts FY Organic Revenue Forecast
- SDF GY : K+S Maintains FY Ebitda Forecast, Misses Estimates
- KBC BB : KBC Group Sees FY Net Interest Income About EU5.05B
- KIN BB : Kinepolis Signs Leases to Operate Cinemas in Barcelona, Marbella
- METN SW : Metall Zug 1H Net Sales CHF324.4M Vs. CHF302.8M Y/y
- B4B GY : Metro 3Q Sales Beats Estimates
- MLP GY : MLP Maintains FY Ebit Forecast
- MONC IM : Canada Goose Seasonally Slow Start May Signal Gains: Preview
- NWG LN : NatWest Group Sees Tender Offer Bringing ~£56M 3Q Income Charge
- NEL NO : Nel 2Q Operating Loss NOK241m, Est. Loss NOK179.9m
- NETC DC : Netcompany 2Q Revenue Misses Estimates
- NWO GY : New Work 1H Profit EU23.3M Vs. EU26.2M Y/y
- NN NA : NN 1H Operating Profit Beats Estimates
- NZYMB DC : Novozymes Sees FY Ebit Margin 26% to 27%
- ONEM US : *CVS IS SAID TO HAVE BEEN MYSTERY BIDDER FOR ONE MEDICAL
- PSM NA : ProSieben Cuts FY Revenue Forecast, Misses Estimates
- ROG SW : Roche: FDA Approves Label Expansion for Ventana MMR RxDx Panel
- RWE GY : RWE 1H Adjusted Ebitda Beats Estimates
- SFQ GY : SAF-Holland SE 1H Adjusted Ebit EU55.6M Vs. EU47.0M Y/y
- SIE GY : *SIEMENS TAKES FURTHER RUSSIA-RELATED WRITE-OFF OF ~EU600M
- S92 GY : SMA Solar 1H Ebitda EU16.0M Vs. EU38M Y/y
- SAX GY : Stroeer 2Q Adjusted Ebitda Beats Estimates
- SYAB GY : Synlab Sees FY Revenue EU3.2B, Saw EU3.1B
- TKA GY : Thyssenkrupp Lowers Profit Outlook Amid Rising Rates (Correct)
- TLW LN : Capricorn Urged to Drop Tullow Deal With Opposition Mounting
- VLA FP : Valneva Cuts FY Revenue Forecast
- DG FP : Vinci Bid for Kontron IT Business Looks Smart - and Cheap: React
- WEW GY : Westwing Group Cuts FY Revenue Forecast
- ZURN SW : Zurich Ins. 1H Operating Profit Beats Estimates