Asian equities extended the global rally in risk assets amid speculation Tuesday’s US consumer price data will support bets that inflation there is near peaking. Stocks rose in Japan, Australia and South Korea while US futures edged higher. The S&P 500 completed its best four-day surge since June on Monday following robust pre-order data for Apple Inc.’s iPhone 14 Pro Max. Chinese futures signaled gains for Tuesday’s open as Hong Kong and mainland bourses reopen following holidays. The Bloomberg Dollar Spot index declined a third day, the longest losing streak in more than a month, as investors weigh positive signs in the economy against hawkish rhetoric from Federal Reserve policy makers. Treasury yields inched lower Tuesday after the curve steepened during the US session. The inflation report is expected to show headline CPI cooled in August to an 8% a year pace while the core measure that excludes food and energy is seen accelerating. Traders almost fully expect another jumbo-sized hike next week, following two 75-basis-point increases, taking their cue from officials supporting that view. US bond-market indicators suggest that investors are gaining confidence that this year’s spike in inflationary pressures will be brought under control. The cost of hedging high inflation has fallen, while so-called breakeven rates on Treasury Inflation Protected Securities -- a proxy for where markets expect inflation to be -- have also dropped. Crude oil advanced while precious metals advanced as the dollar’s descent countered demand concerns. Bitcoin traded above $22,000, even as it pared a rally Monday amid the brighter mood in global markets. US After Hours ORCL +1.5% trades higher on earnings; PTON -2.4% as co-founders John Foley and Hisao Kushi step down; CPRX +9.4% as it will join S&P SmallCap 600
Nikkei +0.19% Hang Seng +0.32% CSI +0.51% Shanghai +0.13% Shenzen +0.26%
Eur$ 1.0133 CNH 6.9228 CNY 6.9218 JPY 142.57 GBP 1.16962 CHF 0.9523 RUB 60.3753 TRY 18.2270 WTI$ 86.90 -1% Gold 1,723 BTC 22,248 ETH 1,696.41 -1.63%
S&P +0.23% Nasdaq +0.22% EuroStoxx +0.02% FTSE -0.26% Dax +0.02% SMI
Macro :
- Global Energy Stocks Vulnerable to Oil Relationship Breakdown
- Hedge Fund’s Decade-Long Wait for China Yuan Crash Nears Payday
Keep an eye on :
- AF FP : Italy, Certares May Sign Preliminary Deal for ITA This Week: MF
- AI FP : Air Liquide Divests Industrial Merchant Ops in Saudi; No Terms
- AAPL US : Apple Surges on Positive IPhone Pre-Order Data: Street Wrap
- AVV LN : Schneider Discussing More Than GBP30 Per Shr Bid for Aveva: Sky
- BP/ LN : BP Buys EDF Retail Energy Business in US in Net-Zero Push
- BUCN SW : Bucher Industries Proposes to Name Urs Kaufmann Chairman in 2024
- DIA SM : *DIA HIRES ARCANO TO SELL 1,000 PERFUMERY STORES: CONFIDENCIAL
- EDF FP : Macron to Name Zajdenweber Head of APE Shareholding Agency: BFM
- EDF FP : BP Buys EDF Retail Energy Business in US in Net-Zero Push
- EQT SS : OTPP Is Said to Near Deal to Buy EQT’s Stake in Packaging Firm
- 9638 HK : Ferretti Weighs Second Listing in Europe, Sole Reports
- FRA GY : Fraport Aug. Frankfurt Airport Passengers +54.1%
- IAG LN : *IAG'S IBERIA TO ACHIEVE PRE-COVID RESULTS IN 2 YEARS: CEO
- NN NA : NN to Sell Former MetLife Pension Ops in Poland to Generali
- OCDO LN : Ocado 3Q Retail Sales +2.7%
- ROG SW : Roche Can Be Market Leader in Neuroscience, Pharma Chief Says
- SAP GY : Watch SAP, Software Stocks After Oracle Reports Earnings
- SU FP : Schneider Discussing More Than GBP30 Per Shr Bid for Aveva: Sky
- SGRE SM : Siemens Gamesa Says 2019 Conditional Sunrise Wind Order Now Firm
- UBSG SW : UBS Anticipates Share Repurchases Will Exceed $5B for 2022
- FHZN SW : Zurich Airport Aug. Passengers 2.47M Vs. 1.59M Y/y