Global markets were rocked by fresh conflict in the Middle East that sent stocks lower while oil and haven assets including Treasures and the dollar rallied. Gains for Treasuries sent the 10-year yield as much as 14 basis points lower. An index of the dollar rose as much as 0.6%, while other havens including the Swiss franc, yen and gold also advanced. The moves came as Israel launched a missile strike on Iran less than a week after Tehran’s rocket and drone barrage, according to two US officials, raising fears of a widening conflict across the Middle East. However, markets pared some of the risk-off moves after Iran said its Isfahan nuclear site was safe. Oil prices jumped more than 4%, with Brent crude rallying above $90 per barrel before retreating back below that level. A gauge of Asia ex-Japan credit default swaps also headed for its biggest daily increase in more than eight months. Futures contracts for the S&P 500 and Nasdaq 100 fell nearly 1% after the underlying benchmarks dropped for a fifth session on Thursday, amid repricing of Federal Reserve interest rate cut expectations. Asian equities also dropped Friday, with Japanese, South Korean, Australian and Hong Kong stocks sliding. Taiwan Semiconductor Manufacturing Co. dropped after the company revised down the revenue growth outlook for the chip industry, citing a softer recovery across smartphone and personal computer sectors. Infosys Ltd. slumped in the US after forecasting tepid sales growth for the year. Japanese inflation data released Friday came in below economists’ estimates. An increasing number of economists expect the BOJ to raise rates again in October after it stands pat next week, with most of them flagging an earlier move in July as a risk scenario, according to a Bloomberg survey. Meanwhile, New York Fed President John Williams said while it isn’t his baseline expectation to hike interest rates, it’s possible — if warranted. His Atlanta counterpart Raphael Bostic said he doesn’t think it will be appropriate to ease until toward the end of 2024. The Fed may hold rates steady all year, Minneapolis Fed chief Neel Kashkari told Fox News Channel. The market’s biggest worry right now is re-accelerating inflation, according to Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management. Most emerging market Asian currencies fell, with the Mexican peso dropping more than 6% versus the dollar before recovering much of the loss. The Indian rupee fell to another record low. Elsewhere, Bitcoin sank as part of a wider retreat in cryptocurrencies. Israel received a sovereign downgrade as S&P Global Ratings lowered its credit rating to A+ from AA- on heightened geopolitical risks for the region. US After Hours After Hours Summary: NFLX -4.5% lower on earnings; ISRG +2.5% higher on earnings; KBH +2.9% higher on $1 bln share buyback, div increase
Nikkei -2.21% Hang Seng -1.43% CSI -0.93% Shanghai -0.46% Shenzen -1.03%
Eur$ 1.0635 CNH 7.2468 CNY 7.2388 JPY 154.32 GBP 1.2419 CHF 0.9084 RUB 93.9808 TRY 32.5838 WTI$ 84.22 +1.80% Gold 2,384 +0.21% BTC 62,430 -1.73% ETH 3,004 -2.15%
S&P -0.80% Nasdaq -0.98% EuroStoxx -1.47% FTSE -0.92% Dax -1.55% SMI -1.12%%
Macro :
- French Debt to GDP Is Where Italy Lost Double-A Status
- Small Group Of Hedge Funds Wields Dominance In US Treasury Market: 'A Concentration Of Vulnerability Has Built Up,' IMF Warns
- KASHKARI: COULD POTENTIALLY WAIT UNTIL 2025 TO LOWER RATES
- KASHKARI: COULD POTENTIALLY WAIT UNTIL 2025 TO LOWER RATES
- Gold Miners Rise as Metal Surges on Rising Geopolitical Concerns
- Israel Launches Retaliatory Strike on Iran, US Officials Say
Keep an eye on :
Keep an eye on :
- ALMA FH : Alma Media 1Q Adjusted Operating Profit Beats Estimates
- AAPL US : Apple Removes WhatsApp, Threads From China App Store on Government Orders -- WSJ
- AZA SS : Avanza 1Q Net Income Beats Estimates
- BLV FP : Believe Board Gives Favorable Opinion of EQT Consortium Offer
- BSY US : Schneider May Be Stronger Suitor for Bentley Than Cadence: React
- COTN SW : Comet 1Q Net Sales CHF80.9M Vs. CHF107.5M Y/y
- DIS US : NBA's exclusive TV rights negotiating window with ESPN, Warner expected to pass without a deal
- ECONB BB : Econocom Maintains FY Revenue Forecast
- EDP PL : EDP Completes Sale of 80% Stake in Wind Project in Canada
- ELISA FH : Elisa 1Q Comparable Ebitda Beats Estimates
- EL FP : EssilorLuxottica Sales Rise as Latin America Is Strongest Region
- FCP PL : FC Porto Signs Deal With Ithaka Investments to Manage Stadium
- IBTA US : Walmart-Backed Ibotta Rises 17% After $577 Million IPO
- IPS FP : Ipsos 1Q Organic Revenue +4.5%
- OR FP : L'Oreal 1Q Like-for-Like Sales Beats Estimates
- MERY FP : Mercialys 1Q Rental Rev. EU45.5M Vs. EU43.6M Y/y
- NTRY SM : Naturgy Stake Purchase May Stretch TAQA Credit Profile
- NFLX US : Netflix Beats, Yet Still Faces Its Own Three Body Problem
- JWN US : Nordstrom Family Weighing Taking Retailer Private -- WSJ
- JWN US : Nordstrom Forms Committee After Family Take-Private Interest
- NSKOG NO : Norske Skog 1Q Ebitda Beats Estimates
- PARA US : Paramount Jumps on Report Sony Is in Talks to Join Apollo Bid
- ROG SW : Roche’s Alecensa Approved in US as Adjuvant Lung Cancer Therapy
- RBREW DC : Royal Unibrew Prelim 1Q Net Revenue Beats Estimates
- ENR GY : Siemens Energy Among Recipients of $2 Billion Green Tax Credits
- SW FP :
- SWON SW : SoftwareOne Founders Oust Board, Paving Way for New Bain Bid
- SU FP : Schneider Electric in Talks to Take Control of Bentley Systems -- WSJ
- TIT IM : *VIVENDI FILES COMPLAINT TO REGULATOR ON TEL. ITALIA: REPUBBLICA
- TSLA US : Tesla Bull Warns Ditching Cheaper Car Would Be ‘Thesis-Changing’
- UCG IM : UniCredit: Press Report on ECB Concern Over Mgmt Changes Untrue
- VIE FP : Veolia Aims to Grow US Revenue by 50% by 2027, Double by 2030
- VIV FP : *VIVENDI FILES COMPLAINT TO REGULATOR ON TEL. ITALIA: REPUBBLICA
- VOLVB SS : Volvo Holder Geely Sweden Offers 49.5m Shares
- WMT US : Walmart-Backed Ibotta Rises 17% After $577 Million IPO
- WDP BB : WDP 1Q Adjusted EPS EU0.33 Vs. EU0.31 Y/y