Most Asian equities rose after Federal Reserve chair Jerome Powell downplayed the prospect of further interest-rate hikes. The yen resumed losses after a sudden jump late in the previous session that hinted at intervention. Benchmark equity indexes advanced in Australia and Hong Kong, and were little changed in Japan. Futures contracts for US shares also rallied. With the Fed decision now over, the market is looking ahead to other potential catalysts including Apple Inc.’s quarterly results later Thursday and US payroll numbers Friday. The yen fell as much as 1.1%, after having surged late Wednesday in New York. The renewed decline suggests investors are skeptical the Japanese authorities will be able to prevent the currency from declining, given the country’s wide interest-rate differential with the US. Japan’s top currency official Masato Kanda said he had nothing to say when asked if officials had intervened. The Fed downplayed the potential for imminent rate hikes as officials unanimously decided to leave the target range for the benchmark federal funds rate at 5.25% to 5.5% following a slew of data that pointed to sticky inflation pressures. Powell said it’s unlikely the central bank’s next move would be to raise rates, saying authorities would need to see persuasive evidence that policy isn’t tight enough to bring inflation back toward the 2% target. Bloomberg’s index of the dollar fell for a second day, reflecting the drop in US yields following the Fed’s decision. Treasuries were little changed in Asia with the benchmark 10-year yield at 4.62%. Apple’s figures due after the US market closes on Thursday will give investors a better sense of how the iPhone maker is weathering a sales slump, due in part to a sluggish China market. In a sign of buoyant consumption, and American Express Co. and Visa Inc. earlier this month both reported a quarterly profit that topped estimates as credit-card spending climbed. Further insight into the health of the US economy will come from non-farm payrolls data for April due on Friday. A Bloomberg Economics model points to an unchanged unemployment rate of 3.8%. That suggests “hiring likely remains too hot for the Fed,” economists Andrej Sokol and Scott Johnson wrote in a note. In commodities, oil recovered some of its losses from Wednesday when a big jump in US crude inventories that added to concerns about weakening demand. Gold advanced as investors found comfort in the Fed’s signals it will still pivot to lowering borrowing costs after gaining enough confidence price gains are cooling. US After Hours CVNA +31.7%, ASPN +29.4%, ENVX +22.7%, QCOM +3.9% higher on earnings; FSLY -30.3%, FRSH -23.9%, DASH -14.9%, ETSY -13%, QRVO -11.5%, NTGR -9.6%, PAYC -7.6% lower on earnings.
Nikkei -0.12% Hang Seng +2.50% CSI Close Shanghai Close Shenzen Close
Eur$ 1.0718 CNH 7.2372 CNY 7.2410 JPY 157.80 GBP 1.2535 CHF 0.9163 RUB 93.8251 TRY 32.4877 WTI$ 79.56 +0.71% Gold 2,318 -0.05% BTC 57,311 +0.05% ETH 2,918 -0.63%
S&P +0.51% Nasdaq +0.61% EuroStoxx -0.02% FTSE +0.49% Dax +0.14% SMI +0.02%
Macro :
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Keep an eye on :
Keep an eye on :
- AED BB : Aedifica Maintains FY EPRA EPS Forecast, Misses Estimates
- AENA SM : Aena 1Q Net Income Beats Estimates
- AIR FP : Spirit Aero, Airbus Near Critical Talks on Fate of Supplier
- APPS SM : Apollo to Assist Spain Regulator in Review of Offer for Applus
- MT NA : ArcelorMittal 1Q Ebitda Beats Estimates
- BAMNB NA : BAM 1Q Adjusted Ebitda Margin 3.1% Vs. 4% Y/y
- BA US : Lockheed-Boeing Alliance Told It Must Launch More US Satellites
- BN CN : Microsoft Agrees to Back Renewable Projects by Brookfield: FT
- CO FP : Casino Reports Sale of 121 Stores to ITM, Auchan, Carrefour
- CC US : Chemours 1Q Adjusted EPS Beats Estimates
- CLX US : Clorox Boosts FY Adjusted EPS Forecast, Beats Estimates
- ENGI FP : Worley Gets Engie Contract for Pipeline Expansion in Mexico
- ENGI FP : Engie Energia Chile Names Pascal Renaud as Chairman
- EMWPF US : Eros Media Fails to Make Interest Payments on Bonds Due April 15
- BOSS GY : Hugo Boss 1Q Sales Beats Estimates
- IDIA SW : Idorsia Boosts Consent Fee to 8m Shares from 5m in Bond Proposal
- IDR SM : Indra Says Chairman Murtra Given ‘Specific Executive Functions’
- INGA NA : ING 1Q Net Income Beats Estimates, ING CFO Is ‘Quite Bullish’ About Resilience of Interest Income
- NK FP : Imerys 1Q Revenue Beats Estimates
- ISS DC : ISS 1Q Organic Revenue Misses Estimates
- MMB FP : Lagardère Names Jean-Christophe Thiery Provisional CEO
- LSEG LN : LSEG to Buy Back ~£500m Shares From Group Including Blackstone
- LHA GY : Lufthansa Costs Rising on Labor, Offsets May Fall Short: React
- LUN CN : Lundin Mining 1Q Adjusted EPS Misses Estimates
- MAERSKB DC : Maersk 1Q Ebitda Beats Estimates
- MRO LN : Melrose Industries Keeps Expectations Unchanged
- NOVOB DC : Novo 1Q Ebit Beats Estimates, Novo Boosts FY Sales at Constant Exchange Rates Forecast
- NOVOB DC : Novo Quadruples the Number of Patients Starting on Wegovy in US
- PCG US : PG&E In Talks with KKR to Sell Minority Stake in Power Business
- PUIG SM : Rabanne Owner Puig, Shareholders Raise €2.6 Billion in IPO
- PUIG SM : Rabanne Owner Puig, Shareholders Raise €2.6 Billion in IPO
- RBI AV : Raiffeisen 1Q Net Beats Est.; Removes Group Guidance
- RED SM : Redeia 1Q Net Income Misses Estimates
- SFL IM : Safilo Signs Perpetual License Pact for David Beckham Eyewear
- G24 GY : Scout24 SE 1Q Operating Ebitda Margin Beats Estimates
- GLE FP : Ex-SocGen Trader Kataria Says He Was Fired for Undetected Bets
- SBUX US : Starbucks Shares Sink as 2Q Comparable Sales Misses Estimate
- STAN LN : Standard Chartered Profit Tops Estimates on Wealth Business
- STLAM IM : Stellantis UAW Members to Vote on Plant Strike Authorization
- SCMN SW : Swisscom 1Q Net Revenue Meets Estimates
- TE FP : Technip Energies 1Q Adjusted Recurring Ebit Beats Estimates
- TSLA US : Tesla Axes Most of Supercharger Team in Blow to Other Automakers
- TFI FP : TF1 1Q Current Operating Income EU37.3M Vs. EU39.9M Y/y
- VWS DC : Vestas 1Q Ebit Loss Before Significant Items Misses Estimates, Vestas Maintains FY Adjusted Ebit Margin Forecast
- VIK US : Cruise Line Viking’s IPO Raises $1.54 Billion, Priced Near Top
- WLN FP : Worldline 1Q Organic Revenue Beats Estimates
- YAR NO : Fertilizer Producer Mosaic Jumps on $1.5 Billion Saudi Deal