Asian stocks tracked a decline on Wall Street following hotter-than-expected US inflation data, while the yen rose after its slump on Tuesday triggered a warning from Japan. Shares fell in South Korea, Japan and Australia. Hong Kong stocks reversed an early drop as trading resumed after the Lunar New Year holiday, with investors focusing on what more Beijing can do stem the rout. The yen gained as much as 0.2% to 150.50 per dollar after Masato Kanda, Japan’s top currency official, cautioned that recent movements have been rapid, and authorities stand ready to take steps if needed. Treasury yields steadied after soaring Tuesday as traders trimmed bets for an early Federal Reserve interest-rate cut. Japan’s 10-year government bond yield climbed to the highest level since December, while a gauge of the dollar traded near a three-month high. Yields on Australian and New Zealand debt also advanced. The Golden Dragon index of US-traded Chinese companies fell 2.7% on Tuesday, its biggest decline in almost a month, while China remains closed for Lunar New Year holidays. Swap traders ratcheted down their expectations for a Fed cut before July while the stock market’s “fear gauge” — the VIX — closed above 15 for the first time since November. Contracts for European stocks slipped, while US equity futures were little changed.
The American CPI data came as a disappointment for investors after a recent downdraft in price pressures that helped build expectations for rate cuts this year. The numbers also gave credence to the wait-and-see approach highlighted by Jerome Powell and a chorus of Fed speakers. Swap contracts referencing Fed policy meetings — which as recently as mid-January fully priced in a rate cut in May and 175 basis points of easing by the end of the year — were roiled. The odds of a May cut dropped to about 32% from about 64% before the inflation data, with fewer than 90 basis points anticipated this year. In other markets, oil was steady after the highest close in two weeks, following a industry report which flagged a substantial build in US crude stockpiles. Gold steadied after plunging below $2,000 an ounce for the first time in two months while Bitcoin traded near the $50,000 mark. US After Hours ALSN +19.8%, LYFT +18.7%, HOOD +9.3%, ZG +6.9% higher on earnings; QDEL -32%, UPST -19.2%, CART -5%, ABNB -4.7%, MGM -4% lower on earnings.
Nikkei -0.61% Hang Seng +0.20% CSI Close Shanghai Close Shenzen Close
Eur$ 1.0714 CNH 7.2269 CNY 7.1936 JPY 150.51 GBP 1.2602 CHF 0.8862 RUB 91.2949 TRY 30.7366 WTI$ 77.84 -0.04% Gold 1,993 -0.01% BTC 49,585 +0.05% ETH 2,640 +0.27%
S&P +0.07% Nasdaq +0.14% EuroStoxx -0.12% FTSE -0.16% Dax -0.10% SMI -0.03%
Macro :
- GERMANY TO CUT 2024 ECONOMIC GROWTH FORECAST TO 0.2%: REUTERS
- VIX Call Selling Jumps as ‘Fear Gauge’ Soars Ahead of Expiration
- Oaktree Capital Management Exits Vistra Corp, Cuts Star Bulk
- Italian Banks' NII Growth, Capital Return Outshine Spanish Peers
Keep an eye on :
Keep an eye on :
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- ABN NA : Dutch State to Sell Part of Its Stake in ABN Amro via Buyback
- AH NA : Ahold Delhaize 4Q Adjusted Operating Margin Beats Estimates
- AIR FP : Thai Airways Signs Deal With Boeing to Procure 45 Aircraft
- AKBM NO : Aker BioMarine Starts Strategic Review of Feed Ingredients Unit
- AAD GY : Amadeus Fire Prelim FY Operating Ebita EU70.4M (1)
- AMZN US : Jeff Bezos Unloads $2.1 Billion of Shares in Second Amazon Sale
- AUTO NO : Autostore 4Q Adjusted Ebitda Beats Estimates
- CAR US : Avis Sinks as 4Q Revenue Misses, Inflation Data Disappoints
- BDT GY : Bertrandt 1Q Ebit EU13.5M Vs. EU11.5M Y/y
- GBF GY : Bilfinger Sees 2024 Ebita Margin 4.9% to 5.2%
- CAP FP : Capgemini Sees 2024 Operating Margin 13.3% to 13.6%, Est. 13.4%
- CAPSL NO : Capsol Technologies Offers Up to 8m Shares at NOK12.60/Share
- CARM FP : Carmila FY Ebitda Misses Estimates
- CWC GY : Cewe Stiftung Prelim FY Sales Beats Estimates
- DHER GY : Delivery Hero 4Q Gross Merchandise Value Misses Estimates
- DIS US : ESPN, College Football Playoff Agree 6-Yr, $7.8b Deal: Athletic
- HEIA NA : Heineken FY Organic Revenue Misses Estimates
- HEIA NA : Heineken Forecasts Single Digit Operating Profit Growth in 2024
- IBE SM : Mexico Regulator Decides Iberdrola Case by Feb. 14, Linea Says
- IPN FP : Ipsen Gets FDA Approval for Onivyde for Pancreatic Cancer
- MMT FP : M6 FY Ebita Misses Estimates
- MMT FP : M6 Chairman Nicolas de Tavernost to Resign in April
- MMT FP : M6 Chairman Nicolas de Tavernost to Resign in April
- MSFT US : OpenAI Researcher Andrej Karpathy Has Left the Co.: Information
- BMPS IM : Paschi CEO Calls Future Consolidation ‘Inevitable’: Corriere
- MOWI NO : Mowi 1Q Harvest Forecast Misses Estimates
- NEXI IM : Nexi Rejects F2i’s Initial EU800m Bank Network Offer: Corriere
- NHY NO : Norsk Hydro 4Q Adjusted Ebit Misses Estimates
- OCI NA : OCI FY Adjusted Ebitda Beats Estimates
- ORRON SS : Orron Energy 4Q Revenue EU8.4M Vs. EU11.3M Y/y
- PIHLIS FH : Pihlajalinna 4Q Revenue Meets Estimates
- PSM GY : ProSieben Prelim 4Q Adjusted Ebitda About EU335M, Est. EU311.8M
- SCHP SW : Schindler FY Ebit Matches Estimates (1)
- SHEL LN : Shell Exits Talks on Petchem Plant in Iraq, Ministry Says
- SRAIL SW : Stadler Rail to Deliver Five Giruno Trains to SBB
- TKA AV : Telekom Austria Sees 2024 Capex About EU800M, Est. EU1.05B
- TKA GY : Thyssenkrupp 1Q Net Loss EU314M, Cuts FY Net Income Forecast
- TUI1 GY : TUI Exit Set to Further Dent UK’s Appeal as a Global Host
- UNO GY : Early German Exit Possible as Uniper's Outlook Recovers: React
- VAR1 GY : Varta Falls After Cyberattack Shuts Production, IT Systems
- VER AV : Verbund Prelim FY Dividend per Share Beats Estimates
- VCT FP : Vicat FY Revenue Meets Estimates
- VZIO US : Vizio Soars on WSJ Report Walmart in Talks to Buy TV Maker
- VPK NA : Vopak 2024 Adjusted Ebitda Forecast Beats Estimates
- VOW GY : Ex-VW CEO Winterkorn Faces Scrutiny Over Role in Diesel Scandal