US equity futures fell and Asian stocks were mixed Monday, hampered by the challenges swirling around China and a reminder from Federal Reserve officials that their key objective is to fight high inflation. S&P 500 and Nasdaq 100 contracts were in the red, while Japan countered losses in Hong Kong to help MSCI Inc.’s Asia-Pacific share index edge up. Recent developments underlined the economic challengesfacing China, including shrinking property sales and a contraction in factory activity that highlighted the cost of Beijing’s preference for mobility curbs to tackle Covid. Meanwhile, Fed Bank of Minneapolis President Neel Kashkari said Sunday the central bank is committed to reaching its long-term inflation goal of 2%. Before that, Fed Bank of Atlanta President Raphael Bostic said the monetary authority has further to go in raising borrowing costs. Treasury yields inched higher but at about 2.67% the 10-year yield is well down from June’s peak near 3.50%. The yen jumped for a fourth session versus the greenback. Oil, gold and Bitcoin all retreated. A slowing economy has cooled expectations for the scale of Fed interest-rate hikes needed to tame inflation, spurring a July rebound in both stocks and bonds. But officials may be wary of market jumps that ease financial conditions and thus imperil the goal of squeezing demand to fight price pressures. Investors are also monitoring US House Speaker Nancy Pelosi’s trip to Asia. A statement from her office skipped any mention of a possible stopover in Taiwan. A visit may stoke US-China tension over the island. Taiwan’s currency slid past 30 per dollar for the first time since 2020. Asia’s manufacturing slowdown is weighing on export-reliant economies like Taiwan.
Nikkei +0,53% Hang Seng -0,32% CSI +0,56% Shanghai +0,16% Shenzen +0,80%
Eur$ 1,0228 CNH 6,7634 CNY 6,7537 JPY 132,41 GBP 1,2186 CHF 0,9509 RUB 62,2626 TRY 17,9298 WTI$ 97,33 Gold 1,76,61 -2% BTC 23,410 -1,5% ETH 1,695,2 -1,5%
S&P -0,44% Nasdaq -0,36% EuroStoxx -0,32% FTSE -0,29% Dax -0,20% SMI +0,
Macro :
- Morgan Stanley’s Wilson Sees Recession Woes Capping Stock Rally
- Pelosi ‘Excited’ by Asia Trip, But She Won’t Talk of Taiwan
- China Evergrande Falls Short of Promised Restructuring Plan
- Monkeypox Outbreak May Boost the Shares of These Companies
- Bitcoin Slips After Best Month of 2022 as Traders Weigh Recovery
- Kashkari Says Fed Committed to Slowing Inflation to 2% Goal (1)
Keep an eye on :
- 2MX FP : 2MX Organic, InViVo Create Teract After Retail Combination
- AED BB : Aedifica to Spend EU13m on Spain Care Home Project at 5.5% Yield
- AIR FP : Boeing Gets FAA Clearance to Restart 787 Dreamliner Deliveries
- BNP FP : BNP Paribas Reaches Deal to Sell Senegalese Unit to Insurer Sunu
- BOL FP : Bollore 1H Ebita EU1.01B Vs. EU572M Y/y
- BWLPG NO : BW LPG Buys LPG Trading Operations From Vilma Oil
- 1COV GY : Covestro Cuts FY Ebitda Forecast, Misses Estimates
- CYAD BB : FDA Lifts Clinical Hold on Celyad’s Cyad-101-002 Phase 1B Trial
- DMP GY : Dermapharm Offers 450 Million Euros For Health Supplement Firm
- DOV IM : DoValue Signs Securitisation Deal With NBG Worth About EU1B
- EDP PL : EDP Sells Its 50% Stake in Hydro Global to CTG for About $68m
- EBS AV : Erste 2Q Net Income Beats Estimates
- EOAN GY : German Minister Open to Extending Life of Bavarian Nuclear Plant
- EXOR IM : Exor to Transition Stock Exchange Listing to Euronext Amsterdam
- FXPO LN : Ferrexpo Downgraded to CCC+ by Fitch
- GBLB BB : GBL Sees FY Dividend per Share at Least EU2.75, Est. EU2.88
- G IM : Del Vecchio’s Heir to Seek Change at Generali, Mediobanca: Sole
- GCO SM : Catalana Occidente to Acquire Grupo Memora for EU387.5m
- HEIA NA : Heineken 1H Org. Beer Volume Beats Estimates
- HSBA LN : HSBC 2Q Adjusted Pretax Profit Beats Estimates
- UCAD FP : Icade Office Sale Takes Disposals to Nearly EU570m This Year
- IPH FP : Innate Pharma Interlink Analysis Didn’t Meet Efficacy Threshold
- IPN FP : Ipsen, Marengo Therapeutics Agree Cancer Drug Partnership
- LHA GY : Lufthansa Faces More Turmoil After Pilots Back Potential Strikes
- MB IM : Del Vecchio’s Heir to Seek Change at Generali, Mediobanca: Sole
- PHARMA NA : Pharming Gets Accelerated Assessment in Europe for Leniolisib
- QLT LN : NatWest Is Studying Potential Bid for Quilter, Daily Mail Says
- SEM PL : Semapa 1H Net Income EU141.5M Vs. EU73.1M Y/y
- STM GY : Stabilus Boosts FY Revenue Forecast, Beats Estimates
- STEAG GY : Steag Weighs Full or Part-Sale, May Be Valued Over EU2B: HB
- TIT IM : Telecom Italia’s Head of Network Is Said to Plan on Resigning
- TWTR US : Musk Files Defense Under Seal as Twitter Trial Set for Oct. 17
- UN01 GY : Uniper Dodges Credit Downgrade to Junk After Government Bailout
- VAR1 GY : Varta Cuts FY Adjusted Ebitda Forecast
- DG FP : Vinci Said to Near Deal for Stake in Mexico Airport Operator OMA