Asian stocks and U.S. equity futures steadied Friday while Treasuries trimmed an advance as traders weighed risks to the economic outlook such as elevated inflation and regional coronavirus flareups.
Shares fluctuated in Japan and China after coming off lows, while the Hang Seng index turned higher on Beijing’s plan to exemptcompanies going public in Hong Kong from seeking cybersecurity regulatory approval. European and U.S. contracts were stable after energy and technology sectors led Wall Street lower. Moderna Inc. rallied in extended trading on an announcement that the vaccine maker is set to join the S&P 500.
Federal Reserve Chair Jerome Powell overnight defended the central bank’s accommodative stance in the face of high inflation. Officials expect a transient surge in price pressures amid the reopening from the pandemic, but some others fear stickier inflation that could hurt economic prospects. The 10-year Treasury yield edged up but is set for a third weekly retreat.
Crude oil is on course for the biggest weekly decline since mid-March, hurt by virus flareups and amid uncertainty over an OPEC+ deal to boost supply. New Zealand’s dollar jumped after the nation’s inflation breached the central bank’s target range, reinforcing bets on an interest-rate increase.
After Hours AOUT -12.2% falls on earnings, while AA +0.4% is roughly flat; MRNA jumps +5.6% as it gets added to S&P 500
Nikkei -0.57% Hang Seng +0.65% CSI -0.41% Shanghai -0.14% Shenzen -0.10%
Eur$ 1.1800 CNH 6.4668 CNY 6.4656 JPY 110.02 GBP 1.3835 CHF 0.9185 RUB 74.3357 TRY 8.5670 WTI$ 71.49 -2.25% Gold 1,829.50+0.13% BTC 31,900 +320 ETH 1950 +50
S&P -0.02% Nasdaq -0.05% EuroStoxx +0.07% FTSE +0.32% Dax +0.15% SMI
Macro :
- Europe Auto Sales Fall 2 Million Cars Short of 2019’s First Half
- EU June Car Registrations Rise 10.4% Y/y to 1.048m Units
- U.K.’s Office Workers Set to Stay Home as Reopening Falls Flat
- JPMorgan Strategist Warns of Dot-Com Era ‘Bull Trap’ in Ark Fund
- Gundlach Says Fed Changed Meaning of ‘Transitory’ Inflation
- Japan said to be increasing staffing at new Section of FSA Govt agencies to deepen its dialogue on regulating digital currencies - Press
- African Swine Fever Confirmed in Domestic Pigs at German Farms
Keep an eye on :
- AC FP : Accor CEO Seeing Strong Rebound in U.S. and China: Les Echos
- ANA SM : Acciona Energia Says Acciona’s Greenshoe Exercised (July 15)
- ADP FP : ADP June Passengers 2.86M
- ADYEN FP : Wise Listing Puts Spotlight on Fintech Funding Race: ECM Watch
- AKER NO : Aker 2Q Net Assets NOK66.9B Vs. NOK62.2B Q/q
- AA US : Alcoa Boosts FY Aluminum Shipments Forecast: Snapshot
- AZN LN : Astra, Alexion Sink Together for Worst Drop in Over Three Months
- BNTX US : BioNTech Shot Produces 10 Times Sinovac Antibodies, Study Finds
- BMW GY : Rolls-Royce Concerned Over Output as Covid Trace Alerts Rise:Sky
- BP/ LN : BP to Send Carbon Offset LNG Cargo to Sempra’s Mexico Terminal
- BRAV SS : Bravida 2Q Net Income Meets Estimates
- CPI LN : Capita Holders Approve Sale of 51% Interest in Axelos
- CCL LN : Canada to Allow Cruise Ships From November: Reuters
- CERV IM : Cerved Group Says Castor Bidco Offer Inadequate
- COFB BB : Cofinimmo Spends About EU21m on Dutch, Spanish Care Properties
- ELISA FH : Elisa 2Q Comparable Ebitda Meets Estimates
- ELK NO : Elkem 2Q Ebitda Beats Estimates
- EMSN SW : EMS-Chemie 1H Ebit Meets Estimates
- ERICB SS : Ericsson 2Q Adjusted Operating Profit Misses Estimates (1)
- ERICB SS : Ericsson, Verizon Ink Multi-Year $8.3B 5G Deal
- GM US : China Market Regulator (SAMR): Company to recall 1.44M cars
- GRNG SS : Granges 2Q Adjusted Operating Profit Misses Estimates
- SHBA SS : Handelsbanken 2Q Net Income Beats Estimates
- HUSQB SS : Husqvarna 2Q Adjusted Operating Profit Beats Estimates
- IIA AV : Austrian Landlord Seeks Divorce After Years of Failed Coupling
- INTC US : Intel Is in Talks to Buy GlobalFoundries for About $30 Billion - WSJ (attached)
- INWI SS : Inwido 2Q Ebita SEK264M Vs. SEK193M Y/y
- IPN FP : Irlab to Get up to $363M in Parkinson’S Pact With Ipsen
- JEN GY : Jenoptik FY Revenue Forecast Beats Estimates
- KEMIRA FH : Kemira 2Q Oper Ebitda Beats Estimates
- LIFCOB SS : Lifco 2Q Net Sales SEK4.50B Vs. SEK3.08B Y/y
- LONN SW : Lonza Extends Monoclonal Antibody Supply Agreement
- MRNA US : Moderna Climbs as S&P 500 Set to Welcome Covid Vaccine Maker
- MTRS SS : Munters 2Q Net Sales Meet Estimates
- NTGY SM : Spain to Ask IFM for More Details on Naturgy Offer: Economista
- NTG DC : Nordic Transport Group Buys Furniture Logistics Specialist LGT
- PGHN SW : Partners Group Assets Under Management $119B
- PUB FP : Publicis Agrees to Acquire Australia-Based CitrusAd
- PUM GY : Puma Raises FY 2021 Guidance
- RATOB SS : Ratos 2Q EPS SEK1.90 Vs. SEK2.18 Y/y
- REC IM : Recordati Appoints Rob Koremans as New CEO as of Dec 1
- CFR SW : Richemont 1Q Sales Beat Estimates
- RIO LN : Rio Tinto 2Q Pilbara Iron Ore Shipments On 100% Basis Meets Est.
- ROTH FP : PJ Solomon Raises Bankers’ Salaries Amid Wall Street Bidding War
- SAB SM : MoraBanc To Buy Sabadell’s Stake in BancSabadell d’Andorra
- SAN FP : Sanofi Postpones Conversion of Kiadis Into Private LLC
- SAN SM : Santander to Buy Broker Amherst Pierpont in $600 Million Deal
- SHOT SS : Scandic 2Q Adjusted Ebitda Loss SEK364M Vs. Loss SEK1.14B Y/y
- SCHA NO : Schibsted 2Q Ebitda Beats Estimates
- SRC LN : SigmaRoc Agrees to Acquire Rettig’s Nordkalk for About EU470M
- SINCH SS : Sinch 2Q Adjusted Ebitda Beats Estimates
- SOON SW : Sonova Looking at Big and Small M&A Targets, CEO Tells FuW
- SQ US : Square's DeFi Thrust Faces Bitcoin, Clients, Feds Hurdles: React
- STAN LN : Citi Seeks to Sell Korea, SE Asia Business to Stanchart: Daily
- STVN US : Italian Packaging Firm Stevanato Raises $672 Million in U.S. IPO
- SWEDA SS : Swedbank 2Q Net Interest Income Meets Estimates
- HO FP : Thales May Decide Not to Sell Signaling Business, Les Echos Says
- TOM NO : Tomra 2Q EPS Beats Estimates
- WISE LN : Wise Listing Puts Spotlight on Fintech Funding Race: ECM Watch