Global stocks extended gains as China’s easing of quarantine rules added fuel to the rally that began on Wall Street after slower-than-projected US inflation data. US and European equity futures rose and a benchmark of Asian equities headed for the biggest jump in more than two years. A gauge of Hong Kong-listed technology stocks surged more than 10% as the shift in quarantine came hot on heels of a call by leaders in Beijing for more precise and targeted virus control measures. A Bloomberg gauge of the greenback resumed declines Friday, adding to a 2% slide on Thursday that was the biggest move since 2009. Government bonds rallied in Japan and Australia after Treasuries surged on Thursday in move that sent yields down by 20 to 30 basis points across the US curve. Rates traders downgraded the odds of another three-quarter-point rate increase by the Federal Reserve in December almost to nil. Cryptocurrency prices retreated Friday as the knock-on effects from FTX’s downfall persisted, even as other risk assets surged after US inflation data. Headline US inflation came in at 7.7%, the lowest since January, before Russia’s war in Ukraine pushed up commodity prices. More important for the Fed, the core measure that excludes food and energy slowed more than anticipated. Thursday’s intense rally only partially claws back steep losses for risk assets hammered this year by the Fed’s tightening. The S&P 500 is still down 17% and the Nasdaq 100 is off nearly 30%, with both headed for their worst years since 2008. The MSCI World Index is down about 18% this year. US After Hours DOCS +15.1%, LZ +14.8%, SMRT +10%, TOST +7.6% higher on earnings; DUOL -6.2%, INDI -5.2%, FLO -4.8% lower on earnings
Nikkei +2,98% Hang Seng +6,84% CSI +2,66% Shanghai +1,60% Shenzen +1,28%
Eur$ 1,0212 CNH 7,1029 CNY 7,1058 JPY 141,61 GBP 1,1696 CHF 0,9648 RUB 60,8305 TRY 18,5337 WTI$ 88,31 +2% Gold 1,758 +1,3% BTC 17,245 -3% ETH 1,263 -3,5%
S&P +0,65% Nasdaq +0,85% EuroStoxx +0,88% FTSE +0,38% Dax +0,79% SMI +0,64%
Macro :
- Citi Strategists See European Earnings Contracting 10% in 2023
- Carl Icahn Tells CNBC He Still Thinks We Are in Bear Market
- FTX.com Assets Frozen as Bahamas Regulator Seeks Liquidation
- SoftBank Vision Fund Loses $7.2 Billion as Writedowns Persist
- Crypto Prices Sink Amid Further FTX Woes After Surging on US CPI
- Citi Strategists Say Exit Short US Equity Positions in Shift
- FTX’s Bankman-Fried Invested in Multiple VCs: Information
- Italy May Link Energy Bill Relief to Ban on Paying Dividends
Keep an eye on :
- ACS SM : ACS 9M Net Income EU480M Vs. EU545M Y/y
- A2A IM : A2A 9M Ebitda EU1.15B Vs. EU955M Y/y
- ADP FP : Crédit Agricole Acquires Added 2.5% Stake in Groupe ADP
- ASML NA : ASML Chip Lithography Growth Could Be Stronger Till 2030: React
- ATL IM : Atlantia Sees FY Revenue About EU7.0B, Est. EU6.63B
- POST A V : Austrian Post Raises Ebit Forecast, Sees Headwinds in 2023 (1)
- BMPS IM : Monte Paschi 3Q Net Loss EU387.7M Vs. Profit EU186M Y/y
- CO FP : Casino Buys Back €67M Quatrim 2024 Notes
- CLNX SM : Cellnex 9M Adjusted Ebitda Meets Estimates
- CWC GY : Cewe Stiftung 3Q Sales EU151.4M Vs. EU132.4M Y/y
- CE IM : Credito Emiliano 9M Net Income EU222.6M Vs. EU275.9M Y/y
- DTG GY : Daimler Truck Margins Surge on Higher Prices, FX Boost
- DOV IM : doValue 9M Adjusted Ebitda EU151.9M Vs. EU116.1M Y/y
- FLYR NO: Flyr Offering of 25b Shares Prices at NOK0.01/Share
- FRA GY : Fraport Oct. Frankfurt Airport Passengers +45.3%
- GSF NO : Grieg Seafood 3Q Ebit Misses Estimates
- ILTY IM : Illimity Sees FY Net Income at Least EU75M
- IMPN SW : Implenia Extends CHF650m Unsecured Syndicated Loan to 2027
- JUN3 GY : Jungheinrich Maintains FY Ebit Forecast
- MSEIS NO : TGS Launches Mandatory Offer For Outstanding Magseis Shares
- MRL SM : Merlin Properties 9M Ebitda EU249.4M
- NTI NO : Norsk Titanium Offering of 27.8m Shares Prices at NOK2.70/Share
- PGHN SW : Partners Group to Buy €400 Million Tech Firm Cloudflight
- RENE PL : REN 9M Net Income EU81.4M Vs. EU68.4M Y/y
- CFR SW : Richemont Profit Jumps to Record as Watches and Jewelry Shine
- SZG GY : Salzgitter 9M Sales EU9.77B Vs. EU7.00B Y/y
- STM GY : Stabilus Sees 2023 Revenue EU1.10B to EU1.20B, Est. EU1.13B
- TEP FP : Teleperformance Shares to Resume Trading Friday, Deputy CEO Says
- TOD IM : Tod's 9M Sales EU724.9M Vs. EU622.6M Y/y
- TRUEB SS : Truecaller 3Q Revenue SEK450.1M Vs. SEK312.6M Y/y
- UNI IM : Unipol 9M Consolidated Net EU854M Vs. EU813M Y/y
- US IM : *UNIPOLSAI 9M CONS. NET EU616M, -13% Y/Y
- UTDI GY : United Internet Said to Pick IPO Banks for Web Hosting Unit (1)
- VPK NA : Vopak Boosts FY Adjusted Ebitda Outlook
- WBD IM : Webuild Maintains FY Ebitda Margin Forecast
- WUW GY : W&W 9M Gross Written Premiums EU3.58B Vs. EU3.72B Y/y
- ZAG AV : Zumtobel Prelim 1H Ebit EU50.8M