Stocks rose Wednesday amid a rally in technology shares, while Treasuries were steady as investors awaited the Federal Reserve decision. An Asia-Pacific share gauge snapped a three-session drop as Chinese tech firms rebounded from brutal selloff. S&P 500 and Nasdaq 100 futures were little changed after a Wall Street advance Tuesday. Europe contracts climbed. Equities in China and Hong Kong have been under severe pressure -- shedding $1.5 trillion combined over the first two days of the week -- on regulatory fears and speculation that Beijing’s ties with Russia raise the risk of a U.S. backlash. Questions remain about whether rallies will prove ephemeral. Investors are also on alert for wider volatility stirred by Russia’s war in Ukraine. West Texas Intermediate crude has shed most of the gains since the invasion and remained below $100 a barrel, weighed down by Covid lockdowns in China that pose a threat to demand.
The offshore yuan got a boost from a report that Saudi Arabia will consider yuan payments for oil sold to China. The dollar dipped. A quarter-point Fed rate increase, the first since 2018, to fight high inflation is widely anticipated but there’s less certainty beyond that. While markets expect a total of seven such moves this year, policy makers also have to factor in growth risks emanating from the war and the isolation of Russia in retaliation. Ukraine and Russia are due to resume talks Wednesday. A key adviser to Ukrainian President Volodymyr Zelenskiy called the negotiations “difficult” but said there is room for compromise. In Russia, President Vladimir Putin said Ukraine’s leadership was not “serious” about resolving the conflict. Russia has begun the process of paying $117 million in interest due Wednesday on dollar bonds. Investors are waiting to see if a default occurs. The coupon payments have a 30-day grace period until any default could potentially be called. Nickel trading is due to resume Wednesday on the London Metal Exchange, over a week after being suspended amid a historic short squeeze. Bitcoin staged a sudden rally, at one point spiking almost 6% before easing back to about $39,000. US After Hours SMAR -8.7%, S -3.4% fall on earnings; CAL +4.4% higher on earnings; IOVA +9.9% as FDA allows IND to proceed.
Nikkei +1.64% Hang Seng +8.20% CSI +34.25% Shanghai +3.39% Shenzen +3.55%
Eur$ 1.0976 CNH 6.3584 CNY 6.3490 JPY 118.24 GBP 1.3061CHF 0.9399 RUB 109.4909 TRY 14.7127 WTI$ 97.08 +0.68% Gold 1918.80 +0.05% BTC 39,400 -0.14% ETH 2,630 +0.21%
S&P +0.66% Nasdaq +1.03% EuroStoxx +2.11% FTSE +1.41% Dax +2.26% SMI +1.65%
Macro :
- Ukraine Update: Putin Says Kyiv Not Serious Ahead of More Talks
- Ukraine Update: Putin Says Kyiv Not Serious Ahead of More Talks
- China Stocks Extend Rebound as State Council Vows Market Support
- Strategist Forecasts for U.K’s FTSE 100 Index in 2022 (Table)
- Strategist Forecasts for Germany’s DAX in 2022 (Table)
Keep an eye on :
Keep an eye on :
- ADL GY : Adler Confirms Repayment of EU400m Bond on April 17
- AGFB BB : Agfa-Gevaert Extends EU50m Share Buyback Through March 2023
- AIR FP :Germany Earmarks $48 Billion for Armaments in Defense Push
- AZE BB : Azelis Launches Long-Term Incentive Plan; Starts EU3m Buyback
- BBVA SM : BBVA to Implement Second Buy-Back Program
- BMW GY : BMW Expects Auto Profitability to Decline to 7% to 9% in 2022
- BOKA NA : HAL’s Pact Crosses 50% Boskalis Ownership as Hyacinth Buys More
- BA/ LN : Germany Earmarks $48 Billion for Armaments in Defense Push
- MBG GY : Mercedes Opens Battery Plant for Alabama-Made Electric SUVs
- DTE GY : Deutsche Telekom Investor Cut Voting Rights to 4.85% on March 9
- EOAN GY : E.On Sees 2022 Adjusted Ebitda EU7.6B to EU7.8B, Est. EU7.63B
- EQT SS : EQT to Buy Baring Private Equity Asia for EU6.8b: M&A Snapshot
- ERICB SS : Shareholder Group to Vote No to Ericsson CEO Liability Discharge
- FG SS : Fasadgruppen Group Offering of 3m Shares Prices at SEK140/Share
- FLS DC : FLSmidth Has Dropped Belarus Order Following Sanctions: Finans
- FOXT LN : Foxtons Urged to Sell Itself by Activist Converium: FT
- G IM : Caltagirone Names Luciano Cirina as Generali CEO Candidate
- HYVE LN : Hyve Group Makes Decision to Formally Exit Russian Market
- ICAD FP : Icade Aims for IPO of Health Property Unit in 2H: Echos
- ITX SM : Inditex Sees Stable Gross Margin in 2022: Filing
- LDO IM : Germany Earmarks $48 Billion for Armaments in Defense Push
- MC FP : Bernard Arnault Signals He’s Ready to Extend His Tenure at LVMH
- MC FP : Bernard Arnault Signals He’s Ready to Extend His Tenure at LVMH
- MFEB IM : Berlusconi’s MFE Launches Bid for Full Control of Spanish Unit
- NORSE NO : Startup Airline Norse Atlantic Delays Launch on Ukraine War
- OMV AV : OMV Sees EU6b Clean-CCS Result by 2030, to Cut Oil Output by 20%
- PSM GY : ProSieben Next In Line as Berlusconi Starts TV Rollup: React
- PUB FP : Publicis Groupe Ending Business and Investments in Russia
- ROG SW : Roche: New Data for Evrysdi Confirm Long-Term Efficacy, Safety
- RKET GY : Rocket Internet Completes EU924.2m Buyback Offer
- SHEL LN : Shell Said to Vie With Adani, Greenko for Actis’s Sprng Energy
- SYAB GY : Synlab Boosts 2022 Revenue Forecast
- UBSG SW : Hong Kong Tycoon Sells UBS London Headquarters for $1.6 Billion
- VGP BB : VGP, Allianz JV Completes EU364M Logistics Portfolio Purchase