Stocks were mixed Monday as traders weighed a global advance in sovereign bond yields and policy easing by China’s central bank to counter a slowdown in the nation’s economic expansion. Shares in China and Japan posted modest gains but Hong Kong equities dipped. S&P 500 and Nasdaq 100 futures fell, while European contracts climbed. U.S. stock and bond markets will be shut Monday for a holiday. The People’s Bank of China exceeded market expectations for stimulus by cutting two key policy interest rates ahead of a report showing economic growth slowed last quarter to 4%. A real-estate slump and partial Covid shutdowns are among the challenges for the world’s second-largest economy. China’s outlook, tighter Federal Reserve monetary policy to fight high inflation and the omicron virus strain are coloring sentiment. Billionaire investor Bill Ackman said the Fed should raise its key interest rate by a bigger-than-expected 50 basis points in March to “restore its credibility.” The start of the earnings season has also put the focus on corporate profits and whether they can help arrest a retreat in global equities led in part by a slide in U.S. technology shares. Meanwhile, oil extended its rally. High prices are justified and futures could rise even further, according to Vitol Group, the world’s biggest independent crude trader. Among cryptocurrencies, Bitcoin slipped below $43,000.
Nikkei +0.74% Hang Seng -0.90% CSI +0.77% Shanghai +0.54% Shenzen +1.41%
Eur$ 1.1419 CNH 6.3524 CNY 6.3467 JPY 114.41 GBP 1.3679 CHF 0.9143 RUB 76.2687 TRY 13.5442 WTI$ 84.08 +0.31% Gold 1,819.35 +0.08% BTC 42,390 -1.65% ETH 3,245 -1.10%
S&P -0.16 Nasdaq -0.32% EuroStoxx +0.32% FTSE +0.29% Dax +0.43% SMI +0.10%
Macro :
- Goldman Already Raised 2022 Junk Default Estimate: China Today
- France’s Dussopt Says Recovery Helped Cut 2021 Deficit: JDD
- Bitcoin Options Shift Has Some Bulls Calling $40,000 the Bottom
- Betting Against the U.K. Is a Favorite Trade in Currency Markets
- China Home Market Slump Deepens as Prices Fall for Fourth Month
- Goldman’s Most Elite Rank to Get Millions in Special Payouts
- Italy Bans Truffle Hunting After Swine Fever Outbreak Poses Risk
Keep an eye on :
- AIR FP : Airbus Space Business Sales Rise Over 10% in 2021: Les Echos
- AAPL US : Apple to Pay Higher Prices for TSMC’s N4P Chips: Comm. Times
- BAS GY : Macron to Unveil Over EU4B of Foreign Investment: Les Echos
- CRG IM : Carige Opens Data Room to Bper for Possible Takeover
- CTXS US : Citrix Is Said to Be in Advanced Talks for Elliott, Vista Buyout
- EDF FP : France’s Nuclear Champion Sacrificed to Stave Off Energy Crisis
- EQNR NO : Equinor, BP Finalize Wind Agreements W/ New York Authority
- ETL FP : Eutelsat, KPN Picked as Top Takeover Targets in Europe: Survey
- FRA GY : Fraport Dec. Frankfurt Airport Passengers +204.6%
- G IM : Former Cassa Depositi CEO Said to Advise Caltagirone on Generali
- GFJ1 GY : GFJ ESG Acquisition I Seeks to Combine With Tado
- GSK LN : Revealed: Unilever bids £50bn for GSK’s consumer empire
- GSK LN 2%: Unilever Is Said to Weigh Raising Offer for Glaxo Consumer Unit
- HEIA NA : Dutch Trade Union Suspends Strikes at Heineken Breweries
- IRE IM : Iren to Buy Italy’s Largest Photovoltaic Plant
- KPN NA : Eutelsat, KPN Picked as Top Takeover Targets in Europe: Survey
- LLOY LN : Lloyds Set to Announce ~GBP1b Buyback, Daily Mail Says (Jan. 15)
- MARS Inc : Mars Said to Buy Direct-to-Consumer Pet-Food Brand Nom Nom
- MOWI NO : Mowi Prelim 4Q Ebit About EU146M
- NORSE NO : U.S. Approves Norse Atlantic Airways’s Transatlantic Flights
- NOVOB DC : Novo Nordisk Says Securities Lawsuit Settled Without Payments
- RHK GY : Rhoen Klinikum in Pact With Hesse on Investment Subsidies
- SANT GY : S&T Sees 2022 Ebitda Margin 10%
- WAF GY : Siltronic Casts Doubt on $5.3 Billion GlobalWafers Takeover
- SRAIL SW : Stadler Gets Up To EU4B Rail Contract, Its Largest Ever
- TEL NO : Telenor Group to Sell 51% Stake in Wave Money to Yoma for $53m
- UNA NA : Revealed: Unilever bids £50bn for GSK’s consumer empire
- UNA NA : Unilever Is Said to Weigh Raising Offer for Glaxo Consumer Unit
- VIFN SW : Saudi Pharma Signs Pact With Vifor Pharma on Ferinject Injection
- VOW GY : VW May Sell Majority Stake in Battery Cell Business: F.A.S.
- VOW GY : VW to Expand China EV Capacity to 900,000/Yr in 2023: Welt