Chinese stocks swung to a gain as trading volumes of an exchange-traded fund favored by a state-owned institution increased. Shares in Hong Kong also trimmed earlier declines that came following Friday’s Politburo meeting and a government report published over the weekend that added to fears of deflation. The dollar strengthened against most of its major peers. Moves were mixed in the rest of the region as traders looked ahead to an event heavy week that features US inflation data on Tuesday, a Federal Reserve policy decision Wednesday and retail sales numbers Thursday. Japan’s benchmark stock indexes jumped at least 1% as Australian shares also gained following a rally in US equities Friday. Futures contracts for US and European shares were little changed during Asian trading. Treasury 10-year yields held at 4.25%. China’s shares dropped earlier after Saturday’s data showed consumer prices fell at the steepest pace in three years while producer costs dropped even further into negative territory, underscoring the challenges facing the economic recovery.
The S&P 500 capped a sixth week of gains Friday, its longest winning run since November 2019, after solid payroll data backed speculation the world’s largest economy will be able to avoid a recession. Swap contracts now show a 40% probability the Fed will cut rates in March, down from more than 50% prior to the economic data. Softening US inflation and employment data in the past month have convinced investors that the Fed is done raising rates and ignited bets that cuts of at least 125 basis points were in store over the next 12 months. Traders scaled back those wagers to about 110 basis points of easing after the nonfarm payrolls data. This week, traders will also be keeping an eye on policy decisions at the European Central Bank and Bank of England, while jobs data in Australia and economic activity gauges in Europe are also due. Oil held gains from Friday when it rallied on the US jobs report and plans to refill the Strategic Petroleum Reserve, but still closed out the longest weekly losing streak since late 2018 amid signs that supply is starting to run ahead of demand.
Nikkei +1.50% Hang Seng -1.07% CSI +0.46% Shanghai +0.60% Shenzen +0.80%
Eur$ 1.0765 CNH 7.1930 CNY 7.1819 JPY 145.52 GBP 1.2539 CHF 0.8801 RUB 91.8246 TRY 28.9807 WTI$ 71.71 +0.67% Gold 1,998 -0.32% BTC 41,860 -4.45% ETH 2,231 -5.46%
S&P -0.08% Nasdaq -0.24% EuroStoxx +0.07% FTSE +0.02% Dax +0.08% SMI +0.24%
Macro :
- US Stock Downside Hedges Are ‘Extremely Attractive,’ RBC Says
- Goldman’s Kostin Says Growth Stocks to Outperform Value in 2024
- Goldman, Citi Ready Trading Desks for New Wave of Carbon Deals
- Goldman Strategists See Europe Stocks Gaining as Inflation Slows
- Citi Strategists Expect S&P 500 to Hit a Record High Next Year
- Morgan Stanley’s Wilson Says Small Caps Lag Before Rate Cuts
- Egypt Heads to Polls With El-Sisi Set for New Term Amid Crisis
- EU Reaches Deal to Enable Nations to Ban Russian LNG Imports
- EU Reaches Deal to Enable Nations to Ban Russian LNG Imports
- UN takes no immediate action at emergency meeting on Guyana-Venezuela dispute over oil-rich region
Keep an eye on :
Keep an eye on :
- ACKB BB ; Ackermans & van Haaren Raises Sipef Stake to 38.33%
- AGN NA : Aegon to Buyback EU139.5m Shares From Vereniging Aegon
- AAPL US : Apple Shutters Third-Party Apps that Enabled iMessage on Android
- BA US : Boeing Reveals the Frontrunner to Be Its Next CEO -- WSJ
- RBOS GY : Bosch Plans to Cut at Least 1,500 Jobs, Automobilwoche Says
- CO FP : Casino Says Éxito Tender Offer in Colombia to Open Dec. 18
- CI US : Cigna Said to Call Off Humana Deal, Plans $10 Billion Buyback
- CVX US : Hess-Chevron Deal Spread Widens as Traders Weigh Guyana Risk
- COPN SW : Cosmo to Get $100m Upfront in Expanded Medtronic Partnership
- EVD GY : O2 Arena Owner Joins Race to Buy for Vivendi’s See Tickets: FT
- DASH US : DoorDash to Be Added to Nasdaq 100, Zoom to Be Removed
- Endeavor Energy : Endeavor Explores Sale for as Much as $30 Billion, Reuters Says
- CIFR US : Cipher Mining Closes Acquisition of Black Pearl
- MC FP : LVMH to Sell Majority Stake in Starboard & Onboard Cruise Services Parent
- MOR GY : MorphoSys Says Pelabresib Improves Myelofibrosis in Study
- MU US : New York Joins IBM, Micron in $10 Billion Chip Research Complex -- WSJ
- NOKIA FH : Nokia, BT Group Sign Pact to Drive New 5G Monetization
- NOVN SW : Novartis Kidney Drug Iptacopan Met Trial Goal at 6-Month Point
- NOVOB DC : Novo Targets Expanded Access to Weight-Loss Drug, JP Reports
- PARA US : Shari Redstone weighs options for Paramount as Skydance eyes bid for studio
- OCDO LN : Ocado Aims to Double Robotic Arm Use at Luton Warehouse: FT
- CFR SW : Invesco EQV European Equity Adds Richemont Class A
- CFR SW : Invesco EQV European Equity Adds Richemont Class A
- ROG SW : Genentech’s Kadcyla Shows Significant Overall Survival Benefit
- ROG SW : Roche Data From Columvi, Lunsumio Studies Show Continued Benefit
- RWE GY : RWE Set to Get Nod For €2.6 Billion Coal Phase Out Package
- SAN FP : Sanofi Releases Sarclisa Phase 3 Data
- SCHA NO : Schibsted in Non-Binding Deal to Sell News Media Ops for NOK6.2B
- SIP BB : Ackermans & van Haaren Raises Sipef Stake to 38.33%
- SOLB BB : Syensqo Set to Start Trading in One of Europe’s Largest Spinoffs
- STLAM IM : *STELLANTIS: JOB CUTS EXPECTED TO TAKE PLACE AS SOON AS FEB. 5
- TELL US : LNG Pioneer Souki Terminated by Tellurian Amid Financial Woes +14% in After Hours
- VIV FP : O2 Arena Owner Joins Race to Buy for Vivendi’s See Tickets: FT
- WLN FP : SumUp Raises €285 Million ‘Firepower’ for Global Growth
- ZF Friedrichsafen : ZF Friedrichshafen Eyes China Growth, WirtschaftsWoche Says