Global equities are set for a fresh record after a big tech-led rally in US gauges, with investors awaiting key inflation data for clues on the Federal Reserve’s policy. The MSCI All Country World Index climbed, extending its longest run since January. A gauge for benchmarks in Asia gained after closing at a two-year high Tuesday, with Taiwan Semiconductor Manufacturing Co. leading the advance. Shares in Japan and Australia rose while those in mainland China slipped. Hong Kong markets are closed for a holiday. Tencent Holdings Ltd.’s American Depositary Receipts surged after the company’s revenue beat estimates in results reported late Tuesday, while Alibaba Group Holding Ltd.’s slid on a profit plunge, highlighting the growing divergence between China’s twin Internet powerhouses. Elsewhere, shares of Hon Hai Precision Industry Co. dropped after reporting a weaker-than-expected profit as demand for iPhones remained sluggish in China. In the run-up to US consumer price index data, the S&P 500 shrugged off Jerome Powell’s signals that interest rates will be higher for longer and a mixed reading on producer inflation. US futures were little changed in early Asia trading. In China, the nation’s central bank extended a key policy loan at the same borrowing cost, signaling concerns that fresh monetary easing may further weaken the yuan. The country is also considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market. Investors will also be watching to see if Japan’s 10-year government bond yield hits the highest level in more than a decade, after 20-year yields did so Tuesday. The yen was steady ahead of a report on Thursday that is forecast to show Japan’s gross domestic product shrank at an annualized pace of 1.2% in the three months through March. In the corporate world, Sony Group Corp.’s shares climbed as investors rewarded its mid-term plan and shareholder return policy after the company announced its quarterly earnings. A Bloomberg dollar index was flat as US 10-year Treasury yields were little changed Wednesday after falling five basis points to 4.44% in the previous session, as traders positioned for a sharp drop in yields in the aftermath of the PPI print. US producer prices rose in April by more than projected, though key components that feed into the Fed’s preferred inflation gauge were more muted. Several categories in the PPI report that are used to calculate the personal consumption expenditures price index eased. Underlying US CPI probably moderated in April for the first time in six months, offering some hope that price pressures will start to ease again. Compared with April 2023, the core CPI is projected to rise 3.6%. While the annual increase would be the smallest in three years, it would still be too high to warrant rate cuts. A survey conducted by 22V Research showed 49% of investors expect the market reaction to the CPI report to be “risk-on” — while only 27% said “risk-off.” In commodities, oil advanced Wednesday after an industry report showed shrinking US stockpiles, and traders looked ahead to a report from the International Energy Agency that’ll shed light on market balances into the second half. Gold steadied after rising almost 1% on Tuesday. US After Hours ARQT +16.9% spiking on quarterly results; DLO -20.5%, INFN -12.4%, BOOT -7.5% amid sell-offs following earnings
Nikkei -0.01% Hang Seng -0.22% CSI -0.42% Shanghai -0.40% Shenzen -0.29%
Eur$ 1.0821 CNH 7.2251 CNY 7.2244 JPY 156.35 GBP 1.2592 CHF 0.9062 RUB 91.3342 TRY 32.2895 WTI$ 78.56 +0.69% Gold 2,357 -0.04% BTC 61,920 +0.55% ETH 2,903 +0.41%
S&P +0.06% Nasdaq -0.01% EuroStoxx +0.20% FTSE +0.41% Dax +0.21% SMI +0.30%
Macro :
- Goldman’s Kostin Says S&P 500 Going Nowhere Through End of 2024
- China Mulls Government Buying of Unsold Homes to Ease Glut (1)
Keep an eye on :
Keep an eye on :
- ARLN GY : AAREAL BANK CFO MARC HESS TO LEAVE AT YEAR END
- ABN NA : ABN Amro 1Q Net Interest Income Beats Estimates
- ABN NA : Dutch Foundation Sues ABN Amro Over Excess Interest Charges
- AC FP : Accor Is Growing the Fastest in the Middle East, CEO Bazin Says
- ALV GY : Allianz 1Q Operating Profit Beats Estimates
- AAG GY : Aumann 1Q Ebit EU5.15M
- AUSS NO : Austevoll Seafood 1Q EPS Misses Estimates
- BDT GY : Bertrandt 1H Ebit EU22.0M Vs. EU24.0M Y/y
- GBF GY : Bilfinger 1Q Sales EU1.09B Vs. EU1.05B Y/y
- BA US : Boeing Starliner Astronaut Launch Delayed to May 21
- BA US : Boeing Is in Breach of Deferred Prosecution Agreement, DOJ Says
- BRBY LN : Burberry FY Adjusted Pretax Profit Misses Estimates
- CEC GY : Ceconomy 2Q Sales Meets Estimates
- CWC GY : Cewe Stiftung 1Q Ebit EU8.1M; Confirms FY Outlook
- CGG FP : CGG 1Q Segment Revenue $273M
- CBK GY : Commerzbank Boosts FY Net Interest Income Forecast
- DMP GY : Dermapharm 1Q Adjusted Ebitda EU88.7M; Confirms FY Outlook
- DOV IM : doValue 1Q Net Revenue EU86.4M Vs. EU91.1M Y/y (May 14)
- FGR FP : Eiffage 1Q Sales Meets Estimates
- ENEL IM : Enel Sweeps, Prices Spike and Renewables Retreat in Chile: BNEF
- ENGI FP : Engie, RWE Eye Earnings Spark on US AI, Data-Center Power Surge
- EOAN GY : E.On 1Q Adjusted Ebitda Beats Estimates
- EQT SS : Waystar Said to Seek as Much as $1 Billion in US IPO
- ENX FP : Euronext 1Q Adjusted Ebitda Beats Estimates
- FLS DC : FLSmidth 1Q Sales Misses Estimates; FY Outlook Maintained
- GETIB SS : Getinge Maintains FY Organic Revenue Forecast
- GLJ GY : Grenke 1Q Net Income EU19.8M Vs. EU15.9M Y/y
- GRF SM : Grifols Says Working to Improve FY FCF Guidance
- GRF SM : Grifols CFO Alfredo Arroyo to Step Down at End of 2024: Chairman
- HHFA GY : Hamburger Hafen 1Q Ebit EU17.4M
- HLAG GY : Hapag-Lloyd Narrows FY Ebitda Forecast
- ICAD FP : Icade Launches Tender Offer on Three Series of Notes
- INPST NA : InPost 1Q Net Income From Continuing Ops Beats Estimates
- LSG NO : Leroy 1Q Operational Ebit Beats Estimates
- LSEG LN : Blackstone, Thomson Reuters Group Offer 17.3m LSE Group Shares
- HLUNB DC : Lundbeck 1Q Net Income Beats Estimates
- MEKKO FH : Marimekko 1Q Adjusted EPS Beats Estimates
- MRK GY : Marimekko 1Q Adjusted EPS Beats Estimates
- MLP GY : MLP 1Q Ebit EU37.0M Vs. EU32.4M Y/y
- NESTE FH : Neste Cuts 2024 Renewable Products Comp Sales Margin Forecast
- NEXI IM : Slight beat in uneventful Q1
- NOVOB DC : Novo Nordisk to test weight-loss drugs’ effect on alcohol use and liver disease - FT
- NOS PL : NOS 1Q Net Income EU67.8M Vs. EU34.9M Y/y
- PAT GY : Patrizia 1Q Ebitda Beats Estimates
- PHARM NA : Pharming to Redeem Outstanding Convertible Bonds Early
- REP SM : Repsol in Talks to Sell Minority Stake of Renewable Unit: Rtrs
- REP SM : Repsol in Talks to Sell Minority Stake of Renewable Unit: Rtrs
- RWE GY : RWE 1Q Adjusted Ebitda Beats Estimates
- SDRL NO : Seadrill 1Q Adjusted Ebitda Beats Estimates
- SEM AV : Semperit Ag Hldg: Report Q1 2024
- SIE GY : Siemens, Foxconn Sign MoU to Digitize Manufacturing
- SWON SW : SoftwareONE 1Q Adjusted Ebitda CHF45.4M
- 6758 JP : Sony Jumps as Much as 10% After Earnings Beat, Stock Buyback
- TLX GY : Talanx 1Q Net Income EU572M
- TPRO IM : Technoprobe 1Q Consolidated Revenue EU101.8M
- TKA GY : Thyssenkrupp 2Q Adjusted Ebit Beats Estimates
- TRI FP : Trigano 1H Net Income EU180.5M Vs. EU121.7M Y/y
- MF FP : Wendel Acquires 51% Stake in Private Equity Firm IK Partners
- FHZN SW : Zurich Airport April Passengers 2.62M Vs. 2.45M Y/y