Stock and bond futures advanced as crude oil extended its decline, with traders looking past the latest attacks on Saudi Arabia that threatened to widen the war in the Middle East. Futures for the S&P 500 Index and Nasdaq 100 Index rose at least 0.3%, while those for Europe gained 0.6%. Asian equity benchmarks were mixed, with South Korea’s Kospi sliding 2.5% as trading resumed after a long weekend. The broader MSCI Asia Pacific Index was down 0.2%.
Brent crude fell 1.7% to $102.97 a barrel after climbing to as high as $105.63 earlier following weekend strikes by Yemen’s Houthis on Riyadh’s main airport. Treasury futures reversed earlier losses and edged higher alongside government bonds in Australia and New Zealand. There will be no cash trading in Treasuries on Monday as markets in the US and Japan are shut for holidays. Elsewhere, the rupee climbed in offshore trading after India’s central bank on Saturday unveiled some of its strongest measures to support the currency since the 2013 taper tantrum. Geopolitical risks have returned to the fore after the Houthi attacks raised the prospect of a broader conflict and further disruption to energy supplies. With little sign of a near-term resolution to the crisis in the Strait of Hormuz, oil could remain a source of inflationary pressure ahead of price data in the US and Europe this week. Traders were weighing President Donald Trump’s claim of an “energy ceasefire” between Russia and Ukraine. Trump, who said the truce was effective immediately, had made a similar claim last month, but Ukrainian President Volodymyr Zelenskyy said no deal had been finalized. In other corners of the market, gold rose for a third consecutive session to top $4,200 an ounce. A Bloomberg gauge of the dollar was little changed after erasing an early Monday advance. It rose for three sessions through Friday. Chinese auto shares including BYD Co. climbed after progress in trade talks between the European Union and China eased the threat of a full-blown trade war. Talks between China and the EU ended late Friday with a 16-point consensus spanning trade and investment, export controls and intellectual property rights. The EU said China agreed to slash millions of hybrid car exports, with people familiar with discussions saying the bloc intends to use safeguard measures to curb the imports. South Korea’s Kospi drops as much as 3% as chip stocks show delayed reaction to a slide in global semiconductor shares last week following OpenAI revenue debate. Korean market was closed on Friday for a holiday. One key data point for this week will be the US consumer-price data and a scheduled appearance by Federal Reserve Chair Kevin Warsh for clues on the pace of further rate increases. A stronger-than-expected September inflation reading may rekindle the recent bond selloff by putting pressure on the Fed to tighten policy more aggressively. The 10-year Treasury yield approached 5.4% last week, its highest since 2002. Investors are mulling how high bond yields are starting to do some of the heavy lifting for central banks around the world by pushing up the borrowing costs.
Nikkei Closed Hang Seng +0.22% CSI -0.34% Kospi -3.35% Shanghai -0.18% Shenzen -1.20%
Eur$ 1.1211 CNH 6.6930 CNY 6.6928 JPY 158.28 GBP 1.3248 CHF 0.8302 RUB 85.2219 TRY 49.3300 WTI$ 90.31 -1.70% Gold 4,198 +0.10% BTC 83,648 +0.08% ETH 2,551 +0.65%
S&P +0.30% Nasdaq +0.33% EuroStoxx +0.45% FTSE +0.33% Dax +0.50% SMI +0.42%
Macro :
- Paris AutoShow opened - watch sector today (Stellantis - New 2CV launched today)
- Goldman Turns Overweight Stocks for 3 Months on Earnings Growth
- Trump Says Russia and Ukraine Agreed to ‘Energy Ceasefire’
- Trump Says Ukraine Needs New Leader Who Can Deal With Putin
- EU Says China Will Cut Hybrid Car Exports by Millions
- Lone Pine Erases 44% Gain in Brutal Quarter on Poor Stock Bets
- Goldman Strategists See No Catalysts to Buy French Stocks Yet
- Hurricane Isaias Slams Florida With Dangerous Winds, Heavy Rain
- Hurricane Isaias Slams Florida With Dangerous Winds, Heavy Rain
- Hedge Funds Boost Tech Long Bets to 2017 High: Equity Insight
- JFK Airport: Nationwide System Issue Impacts Passenger Screening
Keep an eye on :
Keep an eye on :
- ABVX FP : Helikon Boost its positions from 4.4 to 5.4 mil shares
- ADP FP : Charles de Gaulle airport owner linked to services for sanctioned airline, Subsidiary of Groupe ADP, which is backed by the French government, has not stopped all work for Russia’s Ural Airlines - FT
- ADS GY : Adidas Continues its Marathon Dominance in Chicago, Amos Kipruto and Hawi Feysa won the men's and women's races on Sunday in the Adidas Adizero Adios Pro Evo 3. - WWD
- AD NA : Ahold’s Albert Heijn, Some Dutch Units Impacted by IT ‘Incident’
- AMZN US : Amazon in Talks to Buy AI Startup Decart for Around $7 Billion -- WSJ
- Anthropic IPO : Anthropic AI Model Went Rogue, Submitted Fake Tip to Police
- ANTO LN : Antofagasta’s Centinela Mine, Unions to Resume Talks Tuesday
- AZN LN : AstraZeneca Executive Sees Path for Bone-Disease Drug Approval Despite Trial Miss -- Interview
- BPE IM : ECB, Bank of Italy Authorize Unipol Stake in BPER Above 20%
- CRUS US : Cirrus Logic Is Said to Have Bid for Synaptics After Onsemi Deal
- CVC NA : CVC Agreed to Buy 40% Stake in Fibrotex for About €250m: FT
- CVC NA : CVC planned to hush Israel defence deal to avoid controversy
- DTE US : TMUS -13% Friday - Deutsche Telekom Trades on SpaceX News
- DPZ US : Domino’s Pizza Enterprises ANZ CEO Pereyra to Step Down
- EDF FP : EDF Signs €4b of Bank Loans, to Help Extend Reactors’ Life
- ENI IM : Eni to Sell 10% Stakes in Indonesia Upstream Assets
- HPE US : HP Inc. Shares Fall as IDC Data Shows PC Sales Slumped in 3Q
- ICOP IM : Icop Cuts Trevi Threshold Condition to 55% From 90%
- ITRK LN : EQT’s Isotope Signs Deals for ~$5.9b to Finance Intertek Deal
- INW IM : INWIT Holders Line Up Financing for Possible Take-Private: Rtrs - Full Article
- JPM US : JPMorgan Seeks to Double AUM in Europe Over Next 5 Years: FT
- TISG IM : Italian Sea Group Restores Giovanni Costantino as CEO
- DEC FP : JCDecaux To Buy Back Up to 304,903 Shares, ~0.14% Share Capital
- DEC FP : JCDecaux To Buy Back Up to 304,903 Shares, ~0.14% Share Capital
- MGN NO : Magnora South African AGV Unit Expands Into Data Center Projects
- MBG GY : Mercedes-Benz Files Recall of 30,064 Vehicles: NHTSA
- META US : Meta Shares Dip After Hunterbrook Capital Says It’s Short
- MU US : Micron Expands Stock Buyback Program to $35 Billion in December
- NDX1 GY : Nordex 3Q Order Intake Rises 29.5% to 2.8 Gigawatt
- NOVOB DC : EPO Board of Appeal has revoked a secondary Novo Nordisk patent on semaglutide (EP 3 448 416), after a challenge by generic makers. It could have protected the drug until 2037. EU exclusivity now rests on the compound patent and its SPCs, which could end as early as 2031, in line with the US.
- NVDA US : Nvidia's head of corporate communications has left after roughly four months
- NVDA US : Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
- PHIA NA : Court Denies Investor Request to Probe Philips Over 2021 Recall
- PLND LN : Martin Property Group in Talks for Poundland Takeover: Sky
- RNO FP : Renault CEO Welcomes EU-China Deal on Hybrids as ‘Milestone’
- RENE PL : Portugal to Buy 5.3% REN Stake From Fosun’s Fidelidade
- SPCX US : Venezuela Grants SpaceX Concessions for Satellite Internet
- STLAM IM : Stellantis Unveils Six Concept Cars “The Night Before” the Paris Motor Show, Citroen revives historic 2CV for an electric age
- PCVX US : Vaxcyte Closes $1.15b Offerings of Stock, Warrants, Notes
- ENR GY : Bankers Prep €7 Billion Debt for Siemens Energy Unit Stake Sale
- SIE GY : Century-Old Signals Hold Back Advance of AI Trains in Germany
- SKYD US : How Skydance Will Remake the Illustrious Culture of Warner Bros. Pictures More Than Any Owner Before
- SPCX US : Musk Says Terafab Plant Likely to Make the Best Chips
- SWICH NA : SWI Group Raises €800 Million at €6.1b Valuation
- TE FP : Technip Energies Awarded €250m-€500m EPC Contract by HPCL
- TELIA SS : Telia Plans to Cut About 900 Jobs in Drive to Lower Costs
- TIT IM : Telecom Italia Assigned Investment Grade Rating by Moody’s
- HO FP : Thales to Shift Production to Japan for Defense Forces: Nikkei
- TOM2 NA : To partner with DeepRoute on jjoint technical work on automated driving.
- TFIN IM : Icop Cuts Trevi Threshold Condition to 55% From 90%
- UCG IM : UniCredit Pushes Back Third-Quarter Earnings Release to Nov. 9
- VK FP : Vallourec Gets ‘Major’ TotalEnergies Contract in Azerbaijan
- VAR NO : Var Energi Sees FY Production 390,000 BOE/D
- VOW GY : VW chief calls for France and Germany to co-operate on China car fightback
- WBD IM : Icop Cuts Trevi Threshold Condition to 55% From 90%
- WBD IM : Webuild Says Its €5.165/Shr Cash Bid Tops Icop’s Offer