Asian shares were subdued Tuesday after Apple Inc.’s plans to slow hiring highlighted concerns that aggressive monetary tightening to tackle inflation portends an economic downturn. An Asian equity gauge dipped, hampered by a drop in technology stocks in Hong Kong and a retreat in China amid rising Covid infections and deepening turmoil in the nation’s property sector. US futures inched up in the wake of another reversal for the S&P 500 on Monday. The index erased a 1% gain and ended lower on Apple’s intention to moderate some hiring and spending. A dollar gauge remained near a record high and Treasuries were steady, leaving the 10-year yield below 3%. The bond market reflects expectations for a short, sharp Federal Reserve interest-rate hiking cycle that gives way to cuts next year to shore up growth. Crude dipped but held above $100 a barrel and will likely stay therefor the rest of the year, according to Iraq’s energy minister. Etherwas among the leaders of a cryptocurrency rally. orporate updates such as Apple’s are helping markets to calibrate the risk of recession. Signs that high inflation and monetary tightening are squeezing consumers and employment could feed into worries that an equity revival since mid-June is merely brief respite in a bruising bear market. In China, officials may allow homeowners to temporarily haltmortgage payments on stalled property projects without incurring penalties. Authorities are racing to prevent a crisis of confidence in real estate from upending the world’s second-largest economy. Meanwhile, India’s rupee tumbled to a fresh record low as foreign investors continued to pull money out from the nation’s stocks. US After Hours IBM -4.3% heads lower on earnings; MRTN +2.4% higher on earnings; CDXS -2.3% lower as it names new CEO
Nikkei +0.65% Hang Seng -1.03% CSI -1.14% Shanghai -0.56% Shenzen -0.49%
Eur$ 1.0151 CNH 6.7517 CNY 6.7469 JPY 137.97 GBP 1.1962 CHF 0.9759 RUB 57.1656 TRY 17.4835 WTI$ 102.55 -0.05% Gold 1,710.20 +0.05% BTC 22,060 +2.65% ETH 1,537.30 +4.45%
S&P +0.30% Nasdaq +0.29% EuroStoxx -0.60% FTSE -0.42% Dax -0.43% SMI -0.40%
Macro :
- EU to Call on Member States to ‘Immediately’ Cut Gas Usage: FT
- *THREE ARROWS SAID TO OWE DIGITAL CURRENCY GROUP $1.2 BLN
- Race For UK Leadership Tightens as Rivals Vie For Run-Off Spot
Keep an eye on :
- ADP FP : ADP Raises 2022 Passenger Traffic Forecasts
- AFRY SS : Afry CFO Juuso Pajunen Decided to Leave Company
- AIR FP : Air Lease Said to Be in Advanced Talks for Large Airbus Order
- AIR FP : Easyjet Signs LOI With Airbus on Carbon Removal Solutions
- AIR FP : *AIRBUS, ALC SAID TO NEGOTIATE ORDER FOR DOZENS OF A320 FAMILY
- ALO FP : Alstom 1Q Sales EU4.00B Vs. EU3.70B Y/y
- AAPL US : Apple Sued Over Apple Pay, Accused of Antitrust Violations
- ATL IM : Atlantia CEO Bertazzo to Step Down: Repubblica
- BAR BB : Barco Sees FY Ebitda Margin 10% to 12%
- COV FP : Covivio 1H EPRA EPS EU0.69 Vs. EU0.19 Y/y
- DIS US : Disney Scores $9 Billion in Upfront Ad Sales With 40% Online
- ELK NO : Elkem 2Q Ebitda Beats Estimates
- EQT SS : EQT Seeks to Sell Its 49% Stake in French Water Firm Saur: Echos
- HNSA SS : Hansa Biopharma to Get $70M Financing From NovaQuest
- ISP IM : Fondazione Cariplo Raises Stake in Intesa to 4.812% From 3.948%
- LAGRB SS : Lagercrantz 1Q Net Revenue Beats Estimates
- NCCB SS : NCC 2Q Net Sales Beats Estimates
- NOVN SW : Novartis 2Q Core EPS Beats Estimates
- ORA FP : *ORANGE, MASMOVIL GET EU6.6B LOAN FOR SPAIN MERGER: EXPANSION
- RBI AV : Raiffeisen Review of Russian Unit to Take More Time: Boersianer
- CFR SW : Richemont Gets Request From Bluebell for Board Changes
- RIEN SW : Rieter Sees FY Sales About CHF1.40B, Est. CHF1.45B
- RIO LN : Steel Shares Rise as BHP’s Output, Guidance Meet Expectations
- SAB SM : *SABADELL HIRES BARCLAYS TO SELL PAYMENT BUSINESS: EXPANSION
- SAS SS : SAS Reaches Pacts With Pilots’ Unions, Ending Strike
- SGSN SW : SGS 1H Adjusted Operating Income Misses Estimates
- SWEDA SS : Swedbank 2Q Net Income Misses Estimates
- TEL NO : Telenor 2Q Ebitda Beats Estimates
- TEL2B SS : Tele2 2Q Net Sales Beats Estimates
- DG FP : Vinci, Cape Verde Sign 40-Year Concession for Seven Airports
- VOLVB SS : Volvo Profit Beats Despite Persisting Supply-Chain Snarls
- YAR NO : Yara 2Q Adjusted Ebitda Beats Estimates