Asian equities gained, led by Japan, on Friday after US stocks hit records on the back of in-line inflation data. The Nikkei benchmark of Japanese stocks rose as much as 1.9% to an all-time high after a two-day losing streak. Chinese, Hong Kong and Australian shares rose. The moves came after the Federal Reserve’s preferred inflation measure on personal consumption expenditures matched forecasts. US stock futures were steady after both the S&P 500 and Nasdaq 100 indexes closed at record levels, helped by Nvidia Corp., which also set its highest closing price on the day. The two benchmarks ended February with their fourth consecutive monthly advance. Treasuries rose ofr a third straight session, helped along by jobless claims data that indicated labor-market softening. Traders also pointed to the possibility that short covering was behind the gains. An index of the dollar was little changed. The yen weakened against the greenback Friday after Bank of Japan Governor Kazuo Ueda said its price target is not already in sight. His comment may temper speculation the bank’s first rate hike since 2007 could come as early as March. Markets are closed Friday in South Korea for a holiday. China’s factory activity shrank for the fifth straight month in February, suggesting weak demand remains an obstacle for the economy. A gauge of non-manufacturing activity was in expansion mode, helped by a pickup in travel and tourism during a recent long holiday. The country’s home-sales slump dragged on in February, even as regulators stepped up efforts to salvage the beleaguered property market. The value of new home sales from the 100 biggest real estate companies slid 60% from a year earlier. Meanwhile, the US PCE report failed to dent the broader disinflationary trend underpinning rate-cut forecasts. Federal Reserve Bank of San Francisco President Mary Daly said central bank officials are ready to lower interest rates as needed but emphasized there’s no urgent need to cut given the strength of the economy. Her Atlanta counterpart Raphael Bostic said the central bank could begin cutting this summer.
The Cleveland Fed’s Loretta Mester said inflation data out Thursday showed that policymakers have more work to do to cool price pressures, but said it didn’t change her expectation that the Fed will cut interest rates three times this year. Bitcoin held around $61,000 as demand from exchange-traded funds continues. BlackRock Inc.’s iShares Bitcoin Trust netted a record $612 million inflow on Wednesday. West Texas Intermediate crude was little changed Friday. The US Energy Information Administration said oil demand touched a four-year high in 2023 and would likely hold near that level this year. Elsewhere, gold steadied after rising to a three-week high around $2,045 per ounce. US After Hours DELL +16.6%, SG +14.1%, NTAP +13.9%, ADSK +7.2% higher on earnings; ESTC -12.7%, TTEC -11.1%, HPE -3.9% lower on earnings.
Nikkei +1.90% Hang Seng +0.36% CSI +0.53% Shanghai +0.26% Shenzen +0.88%
Eur$ 1.0812 CNH 7.2100 CNY 7.1967 JPY 150.43 GBP 1.2627 CHF 0.8847 RUB 91.2001 TRY 31.3350 WTI$ 78.47 0.30% Gold 2,044 -0.01% BTC 61,523 +0.15% ETH 3,385 +1%
S&P +0.19%% Nasdaq +0.32% EuroStoxx +0.45%% FTSE +0.63%% Dax +0.38% SMI -0.07%
Macro :
- JPMorgan Strategists Say Europe Earnings Disappoint as US Beats
- Solid EPS, Cash Flows Push Euro Stoxx 50 into Overbought Zone
- BofA’s Merrill, Wells Fargo Offer Bitcoin ETFs to Wealth Clients
- BITCOIN WILL BE MUCH HIGHER A YEAR FROM NOW, NOVOGRATZ
- Swedish Bankruptcies Surge in Worst Month for Three Decades
Keep an eye on :
- AGN NA : Aegon FY Adjusted Operating Capital Generation EU1.28B
- ANA SM : Acciona FY Net Income Beats Estimates
- ANE SM : Acciona Energia FY Net Income Misses Estimates
- ACX SM : Acerinox 4Q Ebitda Misses Estimates
- ACS SM : ACS FY Net Income Beats Estimates
- AMD US : AMD Market Value Tops $300 Billion on Wave of AI-Fueled Rally
- AMS SM : Shift4 Falls as Amadeus Says Not Interested in Transaction
- AMS SW : AMS-Osram Tumbles Most Ever as Key Project Scrapped
- BEKB BB : Bekaert FY Adjusted Ebit Beats Estimates
- BLV FP : EQT Consortium Sees Believe Stake Purchase Completed in 2Q
- BPOST BB : Bpost 4Q Adjusted Ebit Misses Estimates
- BUCN SW : Bucher FY Ebit Misses Estimates
- CLNX SM : Cellnex FY Adjusted Ebitda Meets Estimates, Cellnex Results In-Line, Focus Now Moves to CMD
- CE US : Celanese Plans to Close Belgium Plant, Cut Jobs
- CRBN NA : Corbion FY Adjusted Ebitda Meets Estimates
- DTG GY : Daimler Truck 2024 Revenue Forecast Beats Estimates
- EDF FP : EDF, Morrison to Partner on France EV Charging Investments
- EDP PL : EDP FY Net Income Misses Estimates
- EMBRACB SS : Embracer Group to Sell Saber Subsidiary in $500 Million Deal
- ENX FP : Euronext Warns Netherlands Risks Losing Business Pull: ECM Watch
- EQT SS : Market Needs to Broaden for IPOs to Fully Return, Says EQT’s Liu
- FLUX BB : Fluxys Belgium Reaches Deal With CREG on ‘Fair’ Margin
- GRF SM : Grifols Drops 35% as Management Flags Risk of Zero Cash Flow
- HEIJM NA : Heijmans FY Revenue Beats Estimates
- IMCD NA : IMCD FY Revenue Misses Estimates
- ICOS IM : Intercos FY Revenue EU988.2M Vs. EU835.6M Y/y
- COL SM : Inmobiliaria Colonial FY Recurring Net Income Beats Estimates
- JBH LN : JAB Seeks Up to $2.5 Billion in Keurig Dr Pepper Share Sale
- KNIN SW : Kuehne + Nagel FY Ebit Misses Estimates
- KNIN SW : Kuehne + Nagel to Buy City Zone Express; No Terms
- LDO IM : Leonardo FY Revenue Meets Estimates
- MDM FP : Maisons Du Monde Names Denis Lamoureux as New CFO From March 4
- MDT US : Axonics Says It Intends to Defend Vigorously Against Medtronic
- MEL SM : Melia Hotels 4Q Net Income Beats Estimates
- NHY NO : Hydro CFO Kildemo Leaves to Join Emirates Global Aluminium
- ORSTED DC : Orsted, Equinor Offshore Wind Farms Awarded New York Contracts
- Perplexity : AI startup Perplexity is in talks to raise more money at a significantly higher valuation just months after its last round
- SGO FP : Saint-Gobain FY Operating Income Beats Estimates
- SIX2 GY : Sixt Sees 2024 Pretax Profit EU400M to EU520M, Est. EU484.7M
- SNBN SW : SNB Chairman Thomas Jordan to Step Down at End of September
- STLAM IM : Stellantis to Make EVs in Indonesia This Year, Official Says
- TSLA US : Tesla Offers China Incentives to Boost Sales as EV Growth Slows
- UCG IM : UniCredit Set to Pay €1.795 Dividend Per Share on April 24
- UBSG GY : Swiss Competition Regulator Favors Deeper Probe of UBS: Rtrs
- FR FP : Valeo Sees 2024 Ebitda Margin 12.1% to 13.1%, Est. 12.6%, Valeo’s Outlook May Prompt Consensus Upgrades
- VK FP : Vallourec 4Q Ebitda Meets Estimates
- VWS DC : Vestas' Sales Outlook May Brighten on New York Approval: React
- VIS SM : Viscofan 4Q Ebitda Misses Estimates
- YAR NO : Yara Inks Long-Term Deal for Green Ammonia From Acme Oman Plant