Oil traded near a five-month high on concern escalating tensions in the Middle East will trigger more direct US involvement. Asian stocks were mixed before a Federal Reserve monetary policy decision. West Texas Intermediate crude climbed as much as 1.1% in Asia after settling at the highest level in almost five months on Tuesday when President Donald Trump demanded Iran’s unconditional surrender and warned of a possible strike against the country’s leader. Shares slipped in Hong Kong but gained in Japan after the S&P 500 dropped 0.8% in New York. Treasuries crept lower in Asia but still held the bulk of their gains from Tuesday that were driven by geopolitical risks and disappointing US data on retail sales, housing and industrial output. Bloomberg’s index of the dollar was little changed after rising the most in a month in the US session. Oil extended its advance over the past week to about 10% on Tuesday after Trump was said to meet with his national security team in Washington to discuss the escalating Middle East conflict, fueling speculation the US is on the verge of joining Israel’s attack on Iran. US weapons are seen as crucial to achieving a more complete destruction of the Islamic Republic’s atomic program than anything Israel can do alone. The MSCI Asia Pacific Index of regional shares slipped 0.1%, with gains in Japan and South Korea offset by losses in Hong Kong and mainland China. US equity futures edged higher. US retail sales declined for a second month in May, suggesting anxiety over tariffs and their finances prompted consumers to pull back after an early-year spending rush. Industrial production dropped and confidence among homebuilders hit the lowest since December 2022. With Fed officials convening for a two-day meeting in Washington, traders continued to wager on just shy of two quarter-point rate cuts this year — with the first move fully priced in for October. The Fed is expected to keep rates on hold in June and July, but may telegraph its intentions via revised economic and rate forecasts on Wednesday. A fourth straight meeting without a cut may provoke another tirade from President Trump. But policymakers have been clear: Before they can make a move they need the White House to resolve the big question marks around tariffs, immigration and taxes. Israel’s attacks on Iranian nuclear sites have also introduced another element of uncertainty for the global economy. Global stocks will beat US equities over the next five years, according to Bank of America Corp.’s latest fund manager survey, supporting the view that investors increasingly see America’s market dominance as coming to an end. Some 54% of asset managers expect international stocks to be the top asset class, while 23% picked US equities, according to the survey. Only 13% said gold will deliver top returns, and 5% are betting on bonds. It’s the first time that Bank of America’s survey asked investors to predict which asset class will perform best over a five-year horizon. US After Hours PAA +2.9% to sell substantially all of its NGL business; LZB -0.1% flat on earnings; Amazon Ads and Disney Advertising announce collaboration.
Nikkei +0.79% Hang Seng -1.19% CSI +0.21% Shanghai +0.04% Shenzen +0.03%
Eur$ 1.1502 CNH 7.1885 CNY 7.1857 JPY 144.97 GBP 1.3439 CHF 0.8165 RUB 78.6041 TRY 39.5287 WTI$ 74.78 -0.08% Gold 3,392 +0.11% BTC 105,501 +1.05% ETH 2,539 +1.10%
S&P +0.09% Nasdaq +0.11% EuroStoxx -0.25% FTSE +0.05% Dax -0.41% SMI -0.28%
Macro :
- US Plans to Ease Capital Rule Limiting Banks’ Treasury Trades
- US Retail Sales Drop for a Second Month, Dragged Down by Cars
Keep an eye on :
Keep an eye on :
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- ACA FP : Crédit Agricole Names Wanquet Chief Risk Officer From Oct. 1
- EL FP : Meta to release smart glasses with Oakley and Prada, extending Luxottica partnership
- GAM SW : GAM Holding Names Albert Saporta Group CEO From July 1
- GRE SM : Grenergy Renovables Holders Offer up to 1.58m Shares
- HEXAB SS : Hexagon Says Potential Spinoff Company to Operate as Octave
- IMPN SW : Implenia Wins Contract for Deep Geological Repository in Sweden
- KOG NO : Kongsberg Discovery to Buy Sonatech in US for Undisclosed Value
- LDO IM : Leonardo CEO Sees July ‘Go or No Go’ Decisions on Iveco, Space
- LOGN SW : Logitech Nominates Board Member Guy Gecht as Chairman
- LUN CN : Lundin Mining Boosts FY Capital Expenditure Forecast
- MC FP : New World Seals Deal for Louis Vuitton’s New Hong Kong Megastore
- MANTA FH : Mandatum, Pohjantahti to Collaborate in Personal Risk Insurance
- META US : Taiwan to Talk to Meta on Account Management to Fight Scams: CNA
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- OVS IM : OVS 1Q Adjusted Net Sales EU354.4M Vs. EU352.2M Y/y
- POS AV : Porr Sells 1.7 Million Treasury Shares for €26.5 Apiece
- PROX BB : Proximus Group Names Stijn Bijnens New CEO From Sept. 1
- PROX BB : Proximus Group Names Stijn Bijnens New CEO From Sept. 1
- PZC LN : Wilmar to Buy PZ Cussons Plc’s 50% Stake in JV for $70m
- RNO FP : Renault Kicks Off CEO Search After De Meo’s Surprise Exit
- HO FP : Thales Signs Agreement With Edge on Defense Technology in U.A.E.
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- VAR NO : Var Energi, Kistos Decide to Go Ahead With Balder Phase VI
- VEI NO : Veidekke Signs SEK1b Pact With Swedish Fortifications Agency
- VSAT US : Viasat Identified as Victim in China-Linked ‘Salt Typhoon’ Hack
- ZEG LN : KKR, GIC Are Said Among Final Bidders for MasOrange, Zegona JV