US equity futures stabilized Friday from a stock rout triggered by fears of an economic downturn, while the yen slid as the Bank of Japan stuck with super-easy monetary policy. S&P 500 contracts rose 0.5%, signaling steadier sentiment compared with Thursday’s plunge in US shares to the lowest since late 2020. Asian stocks shed over 1% though Hong Kong bucked the trend with a smattering of gains. Japan kept monetary easing and yield curve control, defying pressure to track a global trend toward tighter settings. The yen sank but Treasuries pared losses as the decision resolved some of the uncertainty gripping bond markets. Japan’s 10-year bond yield retreated below the Bank of Japan’s cap of 0.25%, after earlier hitting 0.265%, the highest since 2016. Doubts about the sustainability of the central bank’s stance continue to linger. The monetary authority did make a rare reference to currency risks, with the yen languishing around the weakest level versus the dollar in 24 years. The greenback bounced from its worst two-day drop since 2020. Markets are rounding off a week buffeted by interest-rate increases, including the Federal Reserve’s biggest move since 1994, a shock Swiss National Bank hike that energized the franc and the latest boost in UK borrowing costs. Rate hikes are draining liquidity, sparking losses in a range of assets. Global stocks face one of their worst weeks since pandemic-induced turmoil of 2020. Bitcoin fell toward the $20,000 level. Oil wavered as traders weighed the prospect of slower economic growth against tight supplies. Goldpared a rally. US After Hours ADBE -3% heads lower on weak guidance, but rebounds off lows; X +5.6% is latest steel name with bullish guidance; ROKU +4% higher on deal with WMT
Nikkei -1.38% Hang Seng +1.07% CSI +0.67% Shanghai +0.28% Shenzen +0.33%
Eur$ 1.0525 CNH 6.7050 CNY 6.7015 GBP 1.2309 CHF 0.9693 RUB 58.1879 TRY 17.3060 WIT$ 116.88 -0.60% Gold 1,845.87 -0.62% BTC 20,630 -0.22% ETH 1,091.85 -0.58%
S&P +0.66% Nasdaq +0.78% EuroStoxx +0.58% FTSE +0.49% Dax +0.63% SMI +0.50%
Macro :
- BofA Quant Indicator Shows Soft Economic Landing Still Possible
- Lagarde Tells Ministers ECB Plans for Limit on Bond Spreads
- Bridgewater Builds $5.7 Billion Bet Against European Stocks
- JPMorgan Strategists Say Stocks Imply 85% Chance of US Recession
Keep an eye on :
- ADP FP : Paris Airports CEO Says He’s Confident of Avoiding July Strike
- AF FP : Air France Pilots Call For Strike as Labor Strife Escalates
- AJB LN : AJ Bell Founder Andy Bell to Step Down as CEO
- AZA SS : Avanza to Cancel Potential Safello Crypto Asset Trading
- BA/ LN : BAE Wins $699m US Army Contract for Supercomputing Center
- CLDN LN : Caledonia Readies £400M Auction of Investment Manager 7IM: Sky
- ENEL IM : Enel Sells Russian Unit as Gas Standoff With Europe Intensifies
- ENEL IM : Enel Launches EU15m Sustainability-Linked Share Buyback
- ERG IM : IFM to Invest Over EU1b in Italy Energy Producer ERG
- EL FP : EssilorLuxottica to Buy Back as Many as 2.5M Shares
- ICP LN : TPG Close to Buy Doc Generici From ICG, Il Sole Reports
- META US : Meta Seeks TikTok, Telegram, WeChat Data for Antitrust Defense
- ORP FP : Orpea Recommends Voting Against Ex-CEO’s Variable Compensation
- BPSO IM : Popolare Sondrio to Cut NPL Ratio to 3.9% in New Plan: MF
- SAN SM : Santander Nominates Insider Grisi as CEO, Replacing Alvarez
- SAS SS : Hedge Funds Target SAS to Make Airline Most Shorted Nordic Stock
- SNAP US : Snap Is Working on Paid Subscription Snapchat Plus: Verge
- TTE FP : Chevron Eyes $2.5 Billion Investments in Low-Carbon Hydrogen
- TWTR US : Elon Musk Says He’s Not Hung Up on Potential Twitter CEO Role
- UMG NA : UMG Halves Stake of China Ops Tencent Can Buy Under Option Pact
- VOW GY : VW’s Audi Confirms Suit Against Nio Over Model Designations
- VOW GY : Volkswagen to Pay $80 Million Over Skewed Porsche Fuel Tests