The global equity rally gained fresh vigor as strong economic data eased concerns about the health of the US economy. Asian stocks rose, with Taiwan Semiconductor Manufacturing Co. set to close at a record high. A gauge of Asian shares gained 0.4% on advances in Hong Kong and mainland China. Equity-index futures for US rose 0.2% after the S&P 500 and Nasdaq 100 set closing highs Thursday. TSMC’s shares rallied as much as 2.7% after its bullish outlook boosted confidence in artificial-intelligence spending. The dollar edged lower by 0.1% as Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to support a labor market that is showing signs of weakness. Treasuries rose with yields on the 10-year falling for a third day. Cryptocurrencies gained after Congress passed the first federal legislation to regulate stablecoins. Japanese stocks fell along with government bond yields ahead of a closely watched election this weekend. The country’s inflation cooled a tad more than expected, while still remaining above the Bank of Japan’s target. The cross-asset moves were a sign of bullish risk appetite a day after speculation President Donald Trump would fire Jerome Powell sent volatility spiking. The gains in equities reflected strong economic data and confidence US companies will deliver robust second-quarter earnings, calming the uncertainty caused by Trump’s tariff war. A June advance in US retail sales tempered concerns about weaker consumer spending. Applications for US unemployment benefits declined for a fifth straight week to the lowest since mid-April, showing a resilient job market. Elsewhere, a White House shift on US chip bans that impacts Nvidia Corp. and Advanced Micro Devices Inc. has spurred talk of a grand tech bargain between Washington and Beijing. UBP’s Anitza Nip says a rate cut by the US Federal Reserve “could happen in the fourth quarter, not in the July meeting.” Fed Bank of San Francisco President Mary Daly said it’s reasonable for policymakers to plan on two rate cuts this year, emphasizing that the central bank should not wait too long before moving. Fed Governor Adriana Kugler said officials should keep holding rates steady “for some time,” citing accelerating inflation as tariffs start to boost prices. The dollar edged lower against most Group-of-10 peers after Waller’s comments on rate cut. Meanwhile, Powell remains under pressure with Representative Anna Paulina Luna saying she is “criminally referring” the Fed chair to the Justice Department to investigate “perjury.” Such referrals by lawmakers are not legally binding. Powell countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project in a letter saying “we take seriously the responsibility to be good stewards of public resources.” US After Hours NFLX -1.7% lower on earnings; NSC +4% on WSJ report that UNP in talks to acquire NSC; IBKR +4.4% higher on earnings.
Nikkei -0.23% Hang Seng +0.77% CSI +0.37% Shanghai +0.26% Shenzen +0.13%
Eur$ 1.1613 CNH 7.1851 CNY 7.1812 JPY 148.79 GBP 1.3414 CHF 0.8033 RUB 78.2330 TRY 40.3787 WTI$ 67.88 +0.38% Gold 3,337 -0.12% BTC 120,487 +0.76% ETH 3,650 +6.72%
S&P +0.22% Nasdaq +0.22% EuroStoxx +0.37% FTSE +0.27% Dax +0.47% SMI +0.28%
Macro :
- Waller Says Fed Should Cut Rates Now With Labor Market on Edge
- FTC Sets Aside Orders Against Exxon, Chevron Board Appointments
- Slovakia Lifts Block on Russia Sanctions, Accepts EU Guarantees
- The court did not allow UBS to collect its debt from its Russian subsidiaries
- Strategists See Stoxx Europe 600 Rising 2.3% By Year End: Survey
Keep an eye on :
Keep an eye on :
- ATUS US : Altice USA Raises $1 Billion ABL From Goldman Sachs, TPG (1)
- APPL US : Meta Hires Two Key Apple AI Experts After Poaching Their Boss
- ARG FP : Argan confirme ses objectifs pour 2025 après une hausse des résultats au 1er semestre
- BETSB SS : Betsson 2Q Revenue Meets Estimates
- BHG SS : BHG Group 2Q Sales Meet Estimates
- BHP LN : FT Markets: BHP warns of $1.7bn cost overrun in Canadian fertiliser project https://t.co/nEOePpltu0
- BILL SS : Billerud 2Q Adjusted Ebitda Misses Estimates
- BKSY US : BlackSky Announces Proposed Private Offering of $125 Million of Convertible Senior Notes
- BKSY US : Blacksky Tech Cuts FY Revenue View on US Budget, Contract Timing
- BZAI US : *BLAIZE SHARES JUMP 42%; REPORTS MINIMUM $120 MILLION CONTRACT
- BA US : Gulf Air Buys Boeing 787s With GE Engines, Snubbing Rolls-Royce
- BOL SS : Boliden 2Q Adjusted Operating Profit Misses Estimates
- BRNK GY : Branicks Records 214,700 Square Meter Lettings After 1H 2025
- BPT LN : Bridgepoint Nears Up to £800m Deal to Buy MyDentist: Sky
- BPT LN : Bridgepoint Interim Dividend per Share 4.7P
- CAPMAN FH : CapMan Said to Weigh €500 Million Stake Sale in Finnish Fiber JV
- CLN SW : Clariant Says LyondellBasell Claims Damages on Ethylene Sales
- COA LN : Coats’s £246m Share Sale Said to Go to Mainly Long-Only Buyers
- CSX US : Potential Rail Merger Could Prompt Berkshire Hathaway to Bid for CSX
- DANSKE DC : Danske Bank Maintains FY Net Income Forecast, Danske Net Interest Income Tops Estimates on Lending Activity
- DOV IM : doValue to Buy Germany’s Coeo for Cash Base Amount of €350m
- ELUXB SS : Electrolux 2Q Operating Profit Beats Estimates
- EQT SS : EQT, Omers, Phoenix Eye Final Bids for Cellnex Swiss Business
- GE US : GE Aerospace Down as 2028 Guide Misses High Hopes: Street Wrap
- GETIB SS : Getinge 2Q Net Sales Meet Estimates
- GSK LN : GSK Remains Confident in Blenrep’s Benefit/Risk Profile, GSK Seen Falling as Blenrep Fails to Win US Regulator Approval
- HEM SS : Hemnet 2Q Revenue Meets Estimates
- HUSQB SS : Husqvarna 2Q Operating Profit Beats Estimates
- HUSQB SS : Husqvarna Group Names Glen Instone CEO
- JBL US : Jabil Board Authorizes $1b Share Buyback
- JCI US : Johnson Controls Wins $378 Million U.S. Army Contract
- TKWY NA : Just Eat’s German Unit to Cut 2,000 Delivery Jobs, ANP Says
- KEMIRA FH : Kemira 2Q Oper Ebitda Meets Estimates
- KER FP : Valentino Holders Kering, Mayhoola Mull Possible Sale: Corriere
- KNEBV FH : Kone 2Q Orders Misses Estimates
- LARB SS : Lagercrantz 1Q Net Revenue Matches Estimates
- LIAB SS : Lindab 2Q Net Sales Miss Estimates
- LINDEX FH : Lindex 2Q Gross Margin 58%; Strategic Options for Stockmann
- LULU US : Lululemon’s Bestselling Black Leggings Pile Up at Outlet Stores
- EMG LN : Hedge Fund Man Group Cuts Jobs, Promotes Greg Bond to CIO
- MCP PL : Media Capital Says in Talks to Buy a Majority Stake in Newsplex
- META US : Meta Hires Two Key Apple AI Experts After Poaching Their Boss
- ML FP : Michelin Won’t Appeal EU Court Ruling on 2024 Cartel-Probe Raids
- MTGB SS : MTG 2Q Net Sales Miss Estimates
- MTRS SS : Munters 2Q Net Sales Miss Estimates
- NFLX US : Netflix Dips as Strong Results Run Into High Hopes: Street Wrap
- ORIOLA FH : Oriola 2Q Net Sales Meet Estimates
- RESURS SS : Resurs Holding 2Q Operating Income SEK934M
- RR/ LN : Gulf Air Buys Boeing 787s With GE Engines, Snubbing Rolls-Royce
- SAABB SS : Saab 2Q Sales Beat Estimates, Saab Boosts FY Organic Revenue Forecast
- SCHP SW : Schindler 1H Orders Beats Estimates
- 3382 JP : Seven & i Spreads Fall to 2-Month Low as Takeover Bid Scrapped
- SZG GY : Salzgitter Prelim 2Q Sales Miss Estimates
- SAN FP : Sanofi Completes Acquisition of Blueprint Medicines
- SKAB SS : Skanska 2Q Operating Profit Beats Estimates
- SKFB SS : SKF 2Q Adjusted Operating Profit Beats Estimates
- SUBC NO : Subsea 7 Wins ‘Large’ Contract From Equinor Offshore Norway
- TLN US : Talen Energy to Buy Pennsylvania, Ohio Plants for $3.5b Net (1)
- TELIA SS : Telia Offers to Buy Bredband2 for SEK3.11b
- TELIA SS : Telia Signs MoU to Divest Latvian Operations
- TEL NO : Telenor 2Q Ebitda Margin Beats Estimates; Raises Outlook
- TELIA SS : Telia 2Q Net Sales Meet Estimates
- TRUEB SS : Truecaller 2Q Gross Margin Misses Estimates
- UBER US : Uber Plans Fleet of 20,000 Robotaxis in Deal with Lucid, Nuro
- VENDA NO : Vend Marketplaces Gets NOK10m FSA Fine Linked to Investor Calls
- DG FP : VINCI: VINCI Has Reached an Pact to Buy the German Group R+S
- VIMIAN SS : Vimian 2Q Revenue Misses Estimates
- WRT1V FH : Wartsila 2Q Net Sales Match Estimates