Asian stocks climbed on optimism that US-China strains will ease after a meeting between Xi Jinping and Joe Biden on the sidelines of the G-20 Summit. Hong Kong shares led the advance and stocks in mainland China also rose. China’s relaxation of Covid curbs, measures to support the property sector and efforts by the People’s Bank of China to maintain ample cash levels in its financial system added to the positive sentiment. Contracts for the S&P 500 and the Nasdaq 100 were up as well. The dollar and Treasury yields held their gains, with the 10-year rate around 3.88% after Federal Reserve speakers highlighted their resolve to be persistent until inflation heads back down to levels consistent with its 2% target. Fed Vice Chair Lael Brainard briefly buoyed sentiment after she said it would be appropriate “soon” to slow the pace of interest-rate hikes. Despite these positive signs in Asia and indications of moderating inflation in the US, higher borrowing costs are a headwind for the global economy. In Japan, gross domestic product shrank in the three months through September, as consumers spent less amid a resurgence of Covid cases and the weak yen battered trade. The yen was at about 140 versus the dollar on Tuesday, having strengthened from the 150 level seen in October. oil held losses as concerns over the near-term demand outlook overshadowed signs of tightening supply heading into winter. Gold was steady. US After Hours Lot of 13F filings after the close; AZTA +34.2%, SHLS +20.7%, NU +14.7% higher on earnings; GETY -18.1%, IONQ -8.2% lower on earnings.
Nikkei +0.10% Hang Seng +3.62% CSI +1.87% Shanghai +1.56% Shenzen +1.90%
Eur$ 1.0321 CNH 7.0482 CNY 7.0522 JPY 140.39 GBP 1.1763 CHF 0.9448 RUB 60.98 TRY 18.5983 WTI$ 85.34 -0.62% Gold 1,771 -0.02% BTC 16,749 +2.22% ETH 1,256 +2.49%
S&P +0.56% Nasdaq +0.84% EuroStoxx +0.39% FTSE -0.10% Dax +0.37% SMI +0.18%
Macro :
- UK Weighs New 40% Windfall Tax on Electricity Generators
- JPMorgan Says Hedge Funds’ Short Covering May Have Further to Go
- Hedge Funds Buy Amazon, Sell Meta, Warner Discovery, GinkGo: 13F
- Citadel’s Griffin Skeptical If Recession Can Be Avoided in 2023
- JPMorgan’s Kolanovic Trims Bullish Stocks Call on Recession Risk
- Binance’s Billionaire CEO Casts Himself as Crypto’s New Savior
- Markets Are Near ‘Inflection Point,’ Templeton’s Sekhon Says
Keep an eye on :
- ALV GY : Allianz, Heimstaden Bostad Boost Swedish JV, Form New German JV
- AMBUB DC : Ambu Sees 2023 Ebit Margin 3% to 5%
- AUSS NO : Austevoll Seafood 3Q Ebit Beats Estimates
- CS FP : Axa seeks better Monte dei Paschi deal after leading capital raise
- AZE BB : Azelis 3Q Revenue EU1.09B Vs. EU728.2M Y/y
- BA/ LN : UK Awards BAE £4.2 Billion Contract for Royal Navy Frigates
- BMPS IM : Axa seeks better Monte dei Paschi deal after leading capital raise
- BATS LN : BAT Invests £48.2m in Charlotte’s Web Via Convertible Debenture
- BAYN GY : Bayer ‘Pretty Much’ Independent Already of Natural Gas: Oelrich
- CINT SS : Cint Offering of 17.5m Shares by Holder Prices at SEK58/Share
- CLNX SM : HSBC, JPMorgan Carry Out Placement of Up to 25.6M Cellnex Shares, placed @ 33.50/share
- CCAP GY : Corestate 9M Adjusted Net Loss EU137.4M Vs. Profit EU25.2M Y/y
- CSGN SW : Credit Suisse Agrees to Sell Major Part of SPG to Apollo
- DBK GY : Deutsche Bank Sees Challenges for US Real Estate Financiers: Hb
- EDF FP : France Won’t Dismantle EDF After Buyout, Finance Ministry Says
- ECV GY : Encavis 9M Oper Ebitda EU271.3M Vs. EU195.4M Y/y
- EL US : Estée Lauder Said to Near Tom Ford Acquisition, Licensing Deals
- FFARM NA : Forfarmers Nominates Theo Spierings as CEO
- GN DC : GN Store Nord Will Fire Some Employees in Audio Unit, JP Reports
- H24 GY : Home24 9M Adj. Ebitda Margin -1% Vs. 0% Y/y
- IFX GY : Infineon Estimates Revenue, Profit Margin Ahead of Estimates
- INTER NA : Intertrust Says CSC Holds 99.4% Outstanding Capital
- KER FP : Estée Lauder Said to Near Tom Ford Acquisition, Licensing Deals
- LEO GY : Leoni Maintains FY Forecast, Confirms Prelim. 3Q Earnings
- LSG NO : Leroy 3Q Adjusted Ebit Misses Estimates
- NESN SW : Nestle Remains Bullish on Plant Protein Despite Dip in Demand
- NEXI IM : Nexi Offering of 67m Shares by Holder Intesa Prices At €8.70/Shr
- NDX1 GY : Nordex FY Ebitda Margin Forecast Misses Estimates
- ORP FP : Orpea Seeks €600M New Secured Debt, €1.3-1.5B Capital Increase
- PSM GY : ProSiebenSat.1 Sees Revenue Drop as Consumer Sentiment Weakens
- QFUEL NO : Quantafuel 3Q Ebitda Loss NOK63.9M, Est. Loss NOK58.4M
- RICHT HB : Richter’s Bogsch Switches to Advisory Role, Remains Chairman
- ROG SW : Roche Upbeat on Alzheimer’s Research Despite Latest Drug’s Flop
- SPM IM : Saipem Gets About $800m New Contracts in Mid. East, West Africa
- SIM DC : Simcorp 3Q Ebit Misses Estimates
- STORB SS : Storskogen 3Q Sales Meets Estimates
- TWEKA NA : TKH 3Q Turnover EU451.2M Vs. EU386.7M Y/y
- TSLA US : Musk’s $55 Billion Pay Kept Him ‘Engaged’ in Tesla, Witness Says
- TSLA US : Musk’s Twitter Ownership Creates Risks for Tesla: Morgan Stanley
- VOD LN : Vodafone 2Q Organic Service Revenue Beats Estimates