U.S. equity futures and Treasury yields retreated Friday along with Asian stocks as investors scrutinized President-elect Joe Biden’s much-anticipated $1.9 trillion Covid-19 relief plan.
With few surprises to catch investors off guard, attention turned to how much of the package will ultimately get passed by Congress and a reminder that he is looking to raise some taxes. Biden’s proposal includes a wave of new spending, more direct payments to households, an expansion of jobless benefits and an enlargement of vaccinations and virus-testing programs.
S&P 500 futures slipped and South Korean shares underperformed in Asia, though Australian stocks ticked higher. Xiaomi Corp. tumbled after the Trump administration blacklisted the Chinese smartphone manufacturer for its military links, along with China National Offshore Oil Corp.
Elsewhere, Federal Reserve Chairman Jerome Powell said policy makers won’t raise interest rates unless they see troubling signs of inflation. Oil rose to a new 10-month high in New York on the stimulus hopes. Bitcoin traded around $39,000 as it continued to recover from this week’s rapid plunge.
US After Hours Biden unveiling $1.9 trillion stimulus plan is the key headline after hours; encouraging to see SAP +2.7% guide Q4 revs above consensus; TUFN +20.1% jumps on bullish guidance
Nikkei -0.63% Hang Seng -0.07% CSI +0.07% Shanghai +0.15% Shenzen +0.36%
Eur$ 1.2141 CNH 6.4659 CNY 6.46 JPY 103.77 GBP 1.3672 CHF 0.8892 RUB 73.4258 TRY 7.3714 WTI$ 53 -1.06%
S&P -0.54% Nasdaq -0.54% EuroStoxx -0.69% FTSE -0.44% Dax -0.69% SMI
Macro :
Macro :
- U.S. Investors Need to Sell $12 Billion of Chinese Shares: MS
- Italy’s Embattled Conte Doubles Down on Bid for More Crisis Debt
Keep an eye on :
- AED BB : Aedifica Buys Three U.K. Care Homes for GBP40m at Yield of 5.5%
- Italy’s Embattled Conte Doubles Down on Bid for More Crisis Debt
- EU May Secure 50 Million More Moderna Vaccine Doses at a Premium
- London Fund Managers See Post-EU Threat to $2 Trillion Business
- U.K. Aims to Vaccinate all People Over 50 by March-End: Times
- Point72 to Expand With Florida Offices as Managers Head South
Keep an eye on :
- AED BB : Aedifica Buys Three U.K. Care Homes for GBP40m at Yield of 5.5%
- ASML NA : TSMC’s $28 Billion Spending Blitz Ignites a Global Chip Rally
- BMW GY : BMW Pulls Plug on Car-Subscription Pilot in Nashville
- EN FP : Bouygues Telecom Reveals 2026 Strategic Plan, Bouygues Telecom Sees Ebitda After Leases Around EU2.5B in 2026
- BWO NO : BW Offshore Says Tw9 JPY 103.78 GBP 1.3672 CHF 0.88952o Workers Died at Offshore Field
- CA FP : French Government Buys Room For Maneuver on Carrefour Deal
- CA FP :
- CASS IM : Cattolica Discloses Details of Governance Criticism by Regulator
- CLASS SS : Clas Ohlson Dec. Sales -14%
- CLG LN : Clipper Logistics Holder Steve Parkin to Offer 11m Shrs
- CBK KGY : Commerzbank Flagged Shady Wirecard Dealings Before Implosion
- CCAP GY : Corestate to Buy Aggregate Financial Services for EU113M
- DBV FP : DBV Technologies Proposes Resolutions to Main FDA Concerns
- SMDS LN : DS Smith Holder to Sell 26.1m Shares in Offering, priced @ 390p/share
- EAF US : GrafTech Prelim. 2020 Net Sales $1.21b-$1.23b, Est. $1.18b
- EDP PL : Three Gorges Completes Sale of 2.5% Stake in EDP at EU5.34/Shr
- HFG LN : Hilton Food Group Holder to Sell 8.1m Shares: Terms
- EDP PL : Three Gorges Completes Sale of 2.5% Stake in EDP at EU5.34/Shr
- ENT LN : Entain in Talks to Name Jette Nygaard-Andersen as CEO: Sky
- EQT SS : EQT Seeks IPO or Sale for Spain’s Igenomix: Cinco Dias
- IFCN SW : Inficon Prelim FY Sales About $398M, Est. $381.3M
- IPN FP : Ipsen: Dysport Phase 3 Trial Shows Long Duration of Response
- ISP IM : Intesa Agrees on 7,200 Job Exits, to Hire 3,500 New Staff
- PGHN SW : Partners Group Sees 2021 Gross Client Demand $16b to $20b- PFC LN : Ex-Petrofac Executive Pleads Guilty to 3 Further Offences: SFO
- SAP GY : SAP Sees 2021 Non-IFRS Cloud/Software Rev. EU23.3B to EU23.8B
- SAP GY : SAP Says Effect of Pandemic Likely to Weigh on 2021 Revenue
- ENR GY : GE Sues Siemens Energy Over Alleged Stolen Trade Secrets: Rtrs
- UNIR IM : Unieuro Holder Dixons Carphone to Offer 1.44m Shares via Citi
- FR FP : Valeo SA: 2H20 Prelim Ebitda Margin Is More Than 13.5% of Sales