Stocks edged up in Asia along with futures for European and US markets after President Donald Trump sought to reassure a business roundtable over the outlook for the economy and the steps he’s taking to boost growth. A gauge of regional shares traded in a tight range while Australia’s benchmark S&P/ASX 200 index hovered near a correction as Trump’s tariffs on steel and aluminum took effect with no exemptions. Treasuries and a gauge of the dollar’s strength edged up ahead of a consumer inflation reading later Wednesday. Futures for the S&P 500 and the Nasdaq 100 gained after Trump said he doesn’t see a US recession, downplaying Wall Street’s jitters around his trade war. Contracts for Europe jumped as much as 1% after Ukraine accepted a US proposal for a 30-day truce with Russia. Trump’s tariff policy, geopolitical realignments over Ukraine, sticky inflation and the unknown pace of Federal Reserve interest-rate cuts have hit the markets this year, leaving US stocks on the verge of a correction. The VIX gauge of stock volatility is hovering near its highest since August, while a similar measure for Treasuries is at levels not seen since November as market participants remain nervous about US economic growth. Trump told top executives gathered at a meeting of the Business Roundtable that he’s putting a priority on speedy approvals, particularly regarding environmental regulations, and planned to soon announce a major electricity project, according to a person familiar with the session. He also reiterated a suggestion that a company’s business taxes could be reduced if it manufactured its products in the US. Goldman Sachs Group Inc. strategists slashed their target for the US equity benchmark amid mounting concerns over growth of the world’s largest economy and declines in the “Magnificent 7” stocks. Trump tried to damp concerns of a recession in the US economy. In geopolitics, less than two weeks after Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers. The accord reached in Saudi Arabia by US and Ukrainian negotiators for a 30-day halt in the conflict, which began with Russia’s full-scale invasion three years ago, now hinges on Russian President Vladimir Putin. Trump’s latest tariffs on steel and aluminum imports came into force Wednesday, extending his trade wars to more of the US’s top trading partners in a risky bid to revive an industrial base that migrated over decades to foreign competitors. The president announced his plan last month to impose 25% duties on the metals. In Asian corporate news, Hong Kong’s carrier Cathay Pacific Airways Ltd. reported profit that beat estimates. The airline warned of an uncertain outlook for its cargo unit due to global trade conflicts. On the US consumer inflation reading later Wednesday, economists forecast it stayed elevated last month after a large increase in January, adding to evidence that progress on taming prices has stalled. The consumer price index is seen advancing 0.3% in February after a 0.5% gain at the start of the year. Markets “will be wary of further signs of sticky prices,” said Kyle Rodda, a senior analyst at Capital.com in Melbourne. “Further evidence of inflation stuck at current levels will raise concerns that the Fed will lack the wiggle room to cut rates if Trump’s economic policies cause a precipitous slowdown in economic growth.” In commodities, oil extended a gain as the US cut its forecast for a global oversupply. Gold held its advance, supported by haven demand. US After Hours SFIX +19.6%, GRPN +4.9%, CASY +1.9% higher on earnings; WEST -5.2%, CDRE -3.2% lower on earnings.
Nikkei +0.29% Hang Seng -0.51% CSI -0.19% Shanghai -0.03% Shenzen +0.47%
Eur$ 1.0898 CNH 7.2380 CNY 7.2375 JPY 148.22 GBP 1.2925 CHF 0.8839 RUB 85.3750 TRY 36.5975 WTI$ 66.68 +0.65% Gold 2,913 -0.07% BTC 81,820 -1.16% ETH 1,875 -3.210%
S&P +0.26% Nasdaq +0.29% EuroStoxx +1.15% FTSE +0.46% Dax +1.05% SMI
Macro :
- Skepticism for US Stocks Deepens as Goldman Cuts S&P 500 Target
- Euronext’s Annual Review Results in No Changes to AEX Index
- Euronext’s Annual Review Results in No Changes to AEX Index
- Ukraine backs U.S. proposal for 30-day ceasefire with Russia
- Crypto ETF Issuers Look to Staking to Exploit New Regulatory Era
- Ontario’s Ford to Halt Electricity Tariff, Trump Confirms
- Ray Dalio Cites 1930s Germany to Assess Unfolding Trade War
- Traders Last Got This Anxious Amid August Carry Trade Unwind
Keep an eye on :
Keep an eye on :
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- AMBEA SS : Ambea to Buy Validia for SEK1.38b on Cash, Debt-Free Basis
- ANIM IM : BPM Gets Italy Insurance Body, Europe Clearance Over Anima Bid
- AUTN SW : Autoneum Sees 2025 Ebit Margin 5% to 6%
- AVOL SW : Avolta AG FY Gross Profit Beats Estimates
- BAYN GY : Bayer Treatment Granted Orphan Drug Status by FDA
- BFIT NA : Basic-Fit FY Adjusted Ebitda Meets Estimates
- BRNK GY : Brenntag Sees 2025 Oper Ebita EU1.10B to EU1.30B, Est. EU1.21B
- BVI FP : Wendel Enters 3-Year Forward Sale of Bureau Veritas Shares
- BVI FP : Wendel Enters 3-Year Forward Sale of Bureau Veritas Shares
- CVC NA : NB Renaissance Is Said to Near Deal for CVC-Backed Genetic
- DHER GY : Uber Terminates Pact to Buy Delivery Hero’s Taiwan Business
- ETN US : Eaton Rises on Reiterated 2025 View and 2030 Targets
- ERG IM : ERG 4Q Adjusted Ebitda Beats Estimates
- ENX FP : US Assets Face ‘Discount’ Over Political Risks: Euronext CEO
- EQT SS : EQT Resolves to Buyback Up to 4.9m Own Ordinary Shares
- GOOGL US : Google Is Said to Near Purchase of Eye-Tracking Startup AdHawk
- GYC GY : Grand City Properties Prelim FY FFO/Share Beats Estimates
- GSF NO : Grieg Hastened Canadian Salmon Harvest Ahead of Tolls, DN Says
- ITX SM : *INDITEX 4Q EBIT EU1.88B, EST. EU1.81B
- IG IM : Italgas Shareholders to Vote on €1.02b Capital Increase
- LDO IM : Leonardo Sees €3b Revenue Bump If Italy Boosts Defense Spending
- MRK US : *MERCK WINS RULING IN GARDASIL SAFETY LITIGATION
- NEL NO : Nel Signs Collaboration Agreement With Samsung E&A
- NEL NO : Nel Signs Collaboration Agreement With Samsung E&A
- P911 GY : Porsche FY Operating Profit Beats Estimates
- PUM GY : Puma Sees 1Q Ebit ‘Significantly Below’ Prior Year’s Level, Puma ADRs Slump as Trade Tensions Hurt Guidance: Street Wrap
- RNO FP : Renault Trims 300 Van Factory Jobs in Northern France
- RHM GY : Rheinmetall Sees 2025 Operating Margin About 15.5%, Est. 16.1%
- ROKOB SS : Roko Paves Way for Nordic IPO Spurt in Volatility-Defying Debut
- RYA ID : Ryanair Holdings Excluded From FTSE Russell Indices
- SEM AV : Semperit Sees 1Q Ebitda Down 50% on Difficult Market
- SPOT US : Spotify says it paid $10bn in royalties last year amid artist criticism
- SYNSAM SS : Synsam Holder Theia Holdings Sarl Offers 22.5m Shares, Synsam Offering of Shares by Holder Prices at SEK41/Share
- TECN SW : Tecan FY Sales Meet Estimates
- THEON NA : Theon International Holder Venetus Offers ~3.2m Shrs: Terms
- VIG AV : Vienna Insurance FY Dividend per Share Misses Estimates
- VLTSA FP : Voltalia Signs Power Sales Pact for Hybrid Project in Uzbekistan
- WCH GY : Wacker Chemie Sees 2025 Ebitda EU700M to EU900M, Est. EU852.1M
- MF FP : Wendel Enters 3-Year Forward Sale of Bureau Veritas Shares
- ZEAL DC : Roche, Zealand Pharma in Exclusive Pact for Petrelinde