Stocks pared gains as the US and China began their summit, with traders looking to the meeting for clues on the trajectory of trade ties between the world’s two largest economies. MSCI’s Asia Pacific equities index was 0.1% higher, after earlier rising as much as 0.8% to an intraday record. Shares in mainland China slipped 1%, having touched their highest level since 2021 ahead of the talks between US President Donald Trump and China’s Xi Jinping in Beijing. The offshore yuan edged up for a 11th day, the longest winning streak since September 2017. Artificial intelligence trade was in focus with a gauge of Asian technology shares climbing as much as 2.3% to a record. US equity-index futures advanced with contracts for the Nasdaq 100 Index climbing 0.5% after a stronger-than-expected sales outlook by Cisco Systems Inc. The company’s shares jumped 20% in extended trading. Optimism for tech and stocks masked worries about inflation that have driven bets the Federal Reserve will raise interest rates next year. Treasuries trimmed Wednesday’s losses, with the US 10-year yield slipping one basis point to 4.46%. Equities globally have pushed to record highs, supported by robust corporate earnings and expectations that AI-driven spending will sustain growth. Traders are also focused on geopolitical developments in Iran and the meeting between Xi and Trump for their potential impact, as concerns mount that the war in the Middle East may keep inflation elevated and weigh on the global economy. Xi said in his opening remarks that China and the US should be partners. Trump said the relationship between the two countries is going to be better than ever before. Brent crude traded around $106 a barrel after falling 2% in the previous session, while West Texas Intermediate was near $101. The dollar was little changed after strengthening over the past three days. Elsewhere, US inflation reports this week have shown mounting price pressures, pushing traders to boost wagers on a Fed rate hike in the coming year. The yield on 10-year Treasuries rose to the highest since July on Wednesday. US wholesale inflation accelerated in April to the fastest pace since 2022 on a war-driven increase in energy prices that’s feeding into higher freight transportation costs. The producer price index rose 6% from a year ago, according to Bureau of Labor Statistics data out Wednesday, eclipsing economist estimates and coming in after a hot consumer price readout. Separately, the Senate narrowly confirmed Kevin Warsh as chair of the Fed, setting up the most controversial leadership transition at the US central bank in decades and a test of its political independence. First-quarter profits at S&P 500 companies have surged 27% so far, more than double the roughly 12% analysts had expected — the fastest year-on-year earnings growth outside of recoveries from major shocks since 2004. Morgan Stanley strategists are turning more positive on US equities in a bet that profits and a strong economy will keep the bull market running. The team led by Mike Wilson expects the S&P 500 to reach 8,300 in the next 12 months. The gauge is currently trading near 7,444. US After Hours GO +17.2%, STAA +16.9%, CSCO +16.5% sharply higher on earnings; SN +5.6% on news it will join S&P MidCap 400; DOCS -19.4%, ENVX -10.8%, PBH -5.5% lower on earnings.
Nikkei +0.27% Hang Seng +0.53% CSI -1.30% Shanghai -1.02% Shenzen -1.48%
Eur$ 1.1714 CNH 6.7852 CNY 6.7869 JPY 157.96 GBP 1.3529 CHF 0.7818 RUB 73.6302 TRY 45.4323 WTI$ 101.42 +0.40% Gold 4,675 -0.44% BTC 79,100 -0.72% ETH 2,244 -0.85%
S&P +0.18% Nasdaq +0.40% EuroStoxx +0.87% FTSE +0.31% Dax +0.467% SMI - Closed
Macro :
- Space Stock Craze Comes to Europe as One British Fund Quadruples
- Xi Warns Trump of Possible ‘Clashes’ If Taiwan Issue Mishandled
- Germany Weighs €3 Billion in Subsidy Cuts to Ease Budget Strain
- Hedge Fund Pentwater Rose 22% in April After Avis Short Squeeze
- Hedge Fund Pentwater Rose 22% in April After Avis Short Squeeze
- Davidson Kempner CIO Has ‘Uncontrolled Power,’ Ex-Partner Claims
- Ex-Rokos Deputy CIO Riley Exits Tudor for Dubai Macro Hedge Fund
- Polish Economic Risks Top Inflation Concerns for MPC’s Wnorowski
- ECB’s Lagarde Sees Make-or-Break Moment to Reform European Union
- Volatility Hedge Fund QVR to Close After Losing 30% This Year
- UK Homebuilders' Weak Rebound Risks Cooling; Government Help Key
Keep an eye on :
Keep an eye on :
- AAPL US : Apple Explores Incorporating AI Agents in App Store: Information
- ASX AU : ASX Names Former Euronext Paris Chief Anthony Attia as CEO
- AVTX NA : UPM Acquires Ray Technology Intellectual Property From Avantium
- BMW GY : BMW AGM Approves Conversion of Preferred Share Into Ordinary
- 3750 HK : CATL : CATL Jumps After Investment in China Data Center Operator VNET
- Cerebras IPO : AI Chipmaker Cerebras Said Poised to Price IPO at $185 Per Share, AI Chipmaker Cerebras Raises $5.55 Billion in Year’s Biggest IPO
- CSCO US : Cisco Boosts FY Adjusted EPS Forecast, Beats Estimates: Snapshot Cisco to Record Up to $1B in Charges From Restructuring Plan
- CTY1S FH : Citycon 1Q Net Rental Income EU51.8M Vs. EU50.1M Y/y
- CIE SM : CIE Automotive Holder Offers About 4.29m Shares
- PRT IM : Esprinet 1Q Sales EU1.06B
- EAPI FP : Euroapi in Talks With Potential Buyers for Brindisi Site
- FTC LN : Space Stock Craze Comes to Europe as One British Fund Quadruples
- F US : Ford Shares Jump as Morgan Stanley Bullish on CATL Deal
- G IM : Italy's Monte dei Paschi should not to sell its Generali stake, investor Caltagirone says - Reuters
- HPE US : 'More Activist Investors Have Taken Stakes In Tech Company Hewlett Packard Enterprise; Irenic Capital Is Among The New Activist
- KEMPOWR FH : Kempower CFO Jukka Kainulainen to Leave Company in September
- LINK NO : LINK Mobility Shareholder Abry Partners Sells 13.3% Stake
- LHA GY : Lufthansa, Wizz Air announce return to Israel as foreign carriers slowly resume
- MB IM : Reuters Business: Italy's Monte dei Paschi should not to sell its Generali stake, investor Caltagirone says https
- MFEB IM : MFE 1Q Net Revenue EU1.46B
- MRL SM : Merlin Properties 1Q Adjusted Ebitda EU113.6M Vs. EU102.0M Y/y
- MSFT US : Microsoft Eyes AI Deals to Prep for Life After OpenAI: Reuters
- NVDA US : Nvidia’s Huang Says Meetings ‘Went Excellent’ in China
- NVDA US : Nvidia Overtakes Silver To Become World's Second-Largest Asset At $5.52 Trillion, Market Commentator Calls It 'Historic
- RBI AV : *Raiffeisen Offered EUR26.50 a Share to Buy Addiko,
- REG1V FH : Revenio Group Appoints Jukka Kainulainen as CFO
- SHUR BB : Shurgard Maintains FY Adjusted EPRA Profit Forecast
- SIE GY : Siemens eyes exit from cancer care chain AOI
- STUB US : Stubhub Shares Jump After Reiterating 2026 Guidance --> +11% in After Hours
- TEF SM : Telefonica 1Q Adjusted Ebitda EU2.84B, Telefonica 1Q Adjusted Ebitda EU2.84B Vs. EU2.80B Y/y (1)
- TSLA US : Gavin Newsom Unveils $1 Billion EV Incentive Program That Could Benefit Elon Musk's Tesla Semi
- UPM FH : UPM Acquires Ray Technology Intellectual Property From Avantium
- DG FP : Vinci Wins £856m UK Rail Maintenance Depot Contract
- VOW3 GY : Xpeng in talks with VW about buying a factory in Europe - FT
- VOW GY : RBC Expects Volkswagen to Book IEEPA Tariff Benefits in Q2
- FHZN SW : Zurich Airport April Passenger Traffic +6.1%