Asian stocks pared losses Friday and US equity futuresticked higher as investors assessed the outlook for Federal Reserve interest-rate hikes and the latest readings on China’s economy. MSCI Inc.’s Asian share gauge was steady as China climbed but Hong Kong retreated. Alibaba Group Holding Ltd. contributed to a slide in China tech following a report that it faces a probe linked to a data theft case. China’s second-quarter growth slowed on Covid lockdowns but consumption rallied in June as curbs eased. Officials refrained from injecting funds into the banking system and left borrowing costs unchanged. S&P 500, Nasdaq 100 and European equity futures gained after the US stock market came off Thursday’s session lows to close with a small loss. Treasuries edged up and the the yield curve between two-year and 10-year maturities remained inverted, something viewed as recession signal. The Bloomberg Dollar Spot Index dipped from a record high. Oil is poised to end the week below $100 a barrel for the first time since April. Traders are weighing up how hawkish the Fed must be to curb inflation. Bets on a one-percentage-point July rate hike have been scaled back after the latest commentary pointed toward 75 basis points. Ebbing liquidity threatens to stir more market volatility after steep losses for stocks and bonds in 2022. In the latest Fed comments, Governor Christopher Waller backed raising rates by 75 basis points this month, though he said he could go bigger if warranted by the data. St. Louis Fed President James Bullard echoed some of those comments, saying he favored hiking by the same amount. In a first flurry of US bank earnings, JPMorgan Chase & Co.’s earnings fell short of estimates and Morgan Stanley announced a plunge in investment-banking revenues. But the chiefs of both banks said they aren’t steering their firms toward shelter even as they see global events denting the economy. Meanwhile about $1.9 trillion of options are set to expire Friday, a even that could bring some volatility to markets. US After Hours PINS +14.2% on WSJ report that activist Elliott Mgmt has built large stake; CDXS -21.3% and TXG -12.8% fall on weak guidance; RRGB +2.5% gets a new CEO
Nikkei +0.58% Hang Seng -1.66% CSI -0.41% Shanghai -0.36% Shenzen -0.20%
Eur$ 1.0026 CNH 6.7770 CNY 6.7653 JPY 139.04 GBP 1.1830 CHF 0.9828 RUB 60.0941 TRY 17.4669 WTI$ 96.34 +0.60% Gold 1,709.20 -0.04% BTC 20,500 -0.80% ETH 1,193.44 +0.05%
S&P +0.17% Nasdaq +0.25% EuroStoxx +0.88% FTSE +0.37% Dax +0.74% SMI +0.65%
Macro :
- Hedge Funds Saw $10 Billion Net Outflows in June, Citco Says
- Italy’s Prime Minister Mario Draghi Says He Will Resign
- *CHINA'S WANG SAYS CHINA-US TIES AT `CRITICAL' MOMENT: XINHUA
Keep an eye on :
- AXFO SS : Axfood 2Q Operating Profit Beats Estimates
- BRG NO : Borregaard 2Q Ebitda Beats Estimates
- BRAV SS : Bravida 2Q Net Sales Beats Estimates
- BRBY LN : Burberry 1Q Retail Sales Meets Estimates
- COOR SS : Coor 2Q Adjusted Ebita SEK172M
- DKSH SW : DKSH 1H Operating Profit Beats Estimates
- DRW3 GY : Draegerwerk Prelim 2Q Ebit Loss About EU77M
- EDP PL : EDP Says 1H Electricity Generation Rises 6%
- ELISA FH : Elisa 2Q Comparable Ebitda Meets Estimates
- EMSN SW : EMS-Chemie 1H Ebit Beats Estimates
- ERICB SS : Ericsson Gets Approval to Complete Purchase of Vonage
- GJF NO : Gjensidige 2Q Pretax Profit Beats Estimates
- GRNG SS : Granges 2Q Operating Profit Beats Estimates
- HUSQB SS : Husqvarna 2Q Adjusted Operating Profit Misses Estimates
- IBS PL : Ibersol Decides Not to Accept RBI’s Offer for Restaurants
- INWI SS : Inwido 2Q Net Sales Beats Estimates
- KEMIRA FH : Kemira 2Q Oper Ebitda Beats Estimates
- LIFCOB SS : Lifco 2Q Net Sales Beats Estimates
- MTRS SS : Munters 2Q Net Sales Beats Estimates
- NSKOG NO : Norske Skog 2Q Ebitda Beats Estimates
- ONCO SS : Oncopeptides Offering of 15.1m Shares Prices at SEK28.92/Share
- PNDXB SS : Pandox 2Q Property MGMT Income SEK858M Vs. SEK568M Y/y
- PGHN SW : Partners Group Assets Under Management $130.6B
- CFR SW : Richemont 1Q Sales at Constant Exchange Rates Beats Estimates
- RIO LN : Rio Tinto 2Q Mined Copper Production Misses Estimates
- ROG SW : Roche: 8-Yr APHINITY Study Shows Reduced Breast Cancer Risk
- SHOT SS : Scandic 2Q Adjusted Ebitda SEK1.08B
- SCHA NO : Schibsted 2Q Ebitda Misses Estimates
- SPM IM : Saipem Says Share Sale Ended With EU1.4B Subscribed
- SOW GY : Software AG Cuts FY Digital Business Bookings Forecast
- SOW GY : Software AG Promotes Benno Quade to COO
- TEL NO : Telenor Digi Sees Low Single Digit Decline for FY Normal Ebitda
- TOM NO : Tomra 2Q Revenue Beats Estimates
- TOM2 NA : TomTom 2Q Revenue Beats Estimates
- VOW GY : VW’s Battery Business Faces Supply-Chain Hurdles in Road to IPO
- XXL NO : XXL 2Q Ebitda Misses Estimates