Global equities extended losses as Treasury yields surged after US inflation data bolstered bets on Federal Reserve rate hikes. The latest data on continued weakness in China’s economy added to the gloom. MSCI’s All Country World Index fell for a second day, with major Asian benchmark indexes in the red. Hong Kong shares underperformed and mainland Chinese shares slipped after both consumer and producer prices came in below estimates, a sign that the country’s economy still faces drags despite the government rolling out a series of support measures. European equity futures pointed to a lower open. Swap contracts pushed the odds of another quarter-point Fed hike to about 40% — from closer to 30% Wednesday after US consumer price data. Investors also await JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. results as they kick off the earnings season Friday. Some of the biggest US banks are poised to write off more bad loans than since the early days of the pandemic as higher-for-longer interest rates and a potential economic downturn put borrowers in a bind. Data from US University of Michigan consumer sentiment is also due later Friday. Asian equities were also hurt as China’s trade data was only slightly better than expectation. The authorities are now also considering forming a state-backed stabilization fund to shore up confidence in the nation’s $9.5 trillion stock market. Treasuries gained in Asia after dropping across the curve in the previous session, with the yield on the 30-year rate surging as much as 19 basis points after a $20 billion auction of the securities drew weak demand. The dollar edged down after strengthening against all of its Group-of-10 peers Thursday following the increase in Treasury yields. The yen inched closer to the 150 mark. oil headed for a modest weekly gain as fears over the Israel-Hamas conflict were offset by signs of flagging demand. Gold eged higher. US After Hours DG +7.8% as investors cheer decision by struggling retailer to bring back former CEO; SGH -24.6% drops on earnings; BDC -16.2% falls on lowered guidance.
Nikkei -0.69% Hang Seng -2.40% CSI -1.29% Shanghai -0.85% Shenzen -1.04%
Eur$ 1.0543 CNH 7.3073 CNY 7.3054 JPY 149.70 GBP 1.2194 CHF 0.9073 RUB 97.5417 TRY 27.7871 WTI$ 83.67 +0.92% Gold 1,877 +0.43% BTC 26,800 +0.24% ETH 1,539 +0.20%
S&P +0.04% Nasdaq -0.01% EuroStoxx -0.45% FTSE -0.22% Dax -0.39% SMI -0.39%
Macro :
- Big UK Banks Assessing China Risks, Reuters Says
- US Mulls Adding AI Chip Curbs to Chinese Cos. Abroad: Reuters
- China Sept. Consumer Prices +0.2% M/m, Unch Y/y; Est. +0.2% Y/y
Keep an eye on :
Keep an eye on :
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- ALV GY : Generali Reaches Pact to Sell Tua Assicurazioni to Allianz
- ALO FP :
- BATS LN : FDA Orders Marketing Halt of E-Cigarettes; BAT to Challenge
- BYS SW : Bystronic 9M Sales CHF681.2M Vs. CHF712.4M Y/y
- DBHN GY : Deutsche Bahn Nears €1.6B Deal to Sell Arriva to I Squared: FT
- ENX FP : Euronext Top Equity-Trading Venue in Europe as 3Q Volume Drops
- FRA GY : Fraport Sept. Frankfurt Airport Passengers +18.2%
- FREY FP : Frey Buys Polygone Riviera Shopping Center for €272.3m
- G IM : Generali Reaches Pact to Sell Tua Assicurazioni to Allianz
- HFD LN : Halfords Jumps on Betaville ‘Uncooked’ Takeover Speculation
- KESKOB FH : Kesko Sept. Sales From Continuing Operations EU1.02B
- MTRO LN : ‘Everything is possible’: the Colombian billionaire taking on Metro Bank
- STJ LN : St James’s Place Pressured by UK Regulators to Overhaul Fees: FT
- SANN SW : Santhera Gets Positive CHMP Opinion on Vamorolone for DMD
- SBMO NA : SBM Offshore Gets Feed Contracts for Whiptail Project in Guyana
-SRT GY : Sartorius Sees FY Sales About -17% --> *SARTORIUS ADRS DROP 5% IN US TRADING ON FORECAST CUT
- SIE GY : Siemens, Marubeni Lead €108m Funding for Battery Group Skeleton
- TELIA SS : Telia Appoints Patrik Hofbauer as Its New President, CEO
- TOM2 NA : TomTom 3Q Revenue Misses Estimates
- TRYG DC : Tryg 3Q Profit After Tax Beats Estimates
- UCB BB : UCB: Bimekizumab Use in Severe HS Shows Meaningful Improvements