Asian stocks dropped with U.S. and European futures Thursday after Federal Reserve Chair Jerome Powell highlighted uncertainty about the economic rebound. The dollar advanced against major peers.
Shares in Japan, Hong Kong and South Korea dipped, with stocks in the region on course to end a five-day run of gains. S&P 500 futures slipped about 1%. The U.S. benchmark erased gains on Wednesday to end the session lower after Powell said policy will remain accommodative while cautioning that the pace of economic activity will likely slow. A tumble in tech giants such as Apple Inc. and Facebook Inc. weighed on the index. The offshore yuan retreated.
The Treasury yield curve steepened slightly as Powell stopped short of offering new specifics on the Fed’s approach to the monthly bond purchases that have buttressed markets. Some traders may have been expecting signals regarding plans to target longer maturities.
US After Hours MLHR +16.1% up big on earnings, pulling up other office furniture names as well: KNL +16.2%, SCS +6.6%; EQC +7.8% jumps on special dividend; MRNA +2.1% announces two deals
Nikkei -0.64% Hang Seng -1.61% CSI -1.12% Shanghai -0.99% Shenzen -0.81%
Eur$1.1751 CNH 6.7783 CNY 6.7776 JPY 105.08 GBP 1.2912 CHF 0.9132 RUB 75.0745 WTI$39.70 1.15%
S&P -1.15% Nasdaq -1.35% EuroStoxx -0.96% FTSE -0.61% Dax -0.91% SMI
Macro :
- FOMC Sees Longer-Run Median Fed Funds Rate at 2.5%
- Stimulus Deal Likely to Be Over $1 Trillion, Sen. Blunt Says
Keep a eye on :
- ADP FP : Aeroports De Paris Aug. Passenger Traffic -68.8%
- ALO FP : Bombardier Lowers Sale Price of Planned Rail Unit (Correct)
- CEC GY : CECONOMY’s Duttmann Reappointed as CEO for Another 12 Months
- CTY1S FH : ‘Last Mile’ Dilemma May Have Been Solved by a CEO in the Nordics
- DHER GY : Delivery Hero Gets Full Feet on Glovo's Fast-Growth LatAm: React
- DBK GY : Deutsche Bank NYC-Area Employees Can Stay Home Until Mid-2021
- GFS LN : Telegraph: GFS LN (cites speculation another bid could emerge)
- MC FP : LVMH Opposes Fast-Tracking Tiffany’s Suit Over Busted Deal
- NTGY SM : Naturgy Is Said to Consider Sale of Liquefied Natural Gas Unit
- NESTE FH : Neste to Select Next Renewable Investment Location in Early 2021
- NKLA US : Nikola Investor Sues After Short-Seller Allegations Sink Shares
- RR/ LN : Rolls-Royce Says Continues to Review A Range of Funding Options
- SIX2 GY : Volkswagen Plans ~15% Stake in Sixt, Manager Magazin Reports (1)
- SNOW US : Snowflake’s CEO on Having Year’s Biggest IPO: ‘So Far, So Good’
- SRCG SW : Sunrise: Zurich Court Rejects Salt’s Application for Injunction
-SWECB SS / Sweco Proposes SEK3.10/Share Extraordinary Dividend, Share Split
- TKO FP : Tikehau 1H Loss EU241M As Coronavirus Hits Investment Division
- TIF US : LVMH Opposes Fast-Tracking Tiffany’s Suit Over Busted Deal
- URW NA : Unibail-Rodamco Plans Capital Raise of EU3.5 Billion (1)
- VK FP : Vallourec Extends Consent Solicitation Until Sept. 21
- VIV FP : Music Publisher Kobalt Is Said to Explore a Potential Sale
- VOW3 GY : Volkswagen Plans ~15% Stake in Sixt, Manager Magazin Reports (1)