Shares in Asia were broadly lower and US equity futures fell as investors parsed mixed corporate earnings and the latest assessment on the US economy. A region-wide index of Asian stocks edged lower for a second day as benchmarks in mainland China and South Korea fell, while those in Australia and Japan were flat and Hong Kong’s Hang Seng Index rose.
The Federal Reserve’s monthly Beige Book survey released on Wednesday showed the US economy “stalled” with narrower access to credit. Fed Bank of New York President John Williams said the recent trend of slowing inflation continues but that price gains remain too high. Trader bets continue to lean toward a rate hike next month. The yield on the policy-sensitive two-year Treasury was steady in Asia after rising five basis points to the highest level in a month. The drop for US equity futures followed a flat day in New York trading. The CBOE VIX index of volatility to the lowest since 2021. A Bank of America global measure of volatility spanning stocks, rates, currencies and commodities sits at the lowest level since early 2022. First-quarter US earnings were mixed. Tesla Inc. missed profit expectations while International Business Machines Corp. and Morgan Stanley beat forecasts. The drop for US equity futures followed a flat day in New York trading. The CBOE VIX index of volatility to the lowest since 2021. A Bank of America global measure of volatility spanning stocks, rates, currencies and commodities sits at the lowest level since early 2022.
First-quarter US earnings were mixed. Tesla Inc. missed profit expectations while International Business Machines Corp. and Morgan Stanley beat forecasts. Banks in China kept loan prime rates unchanged after the People’s Bank of China stayed put. An independent review of Australia’s central bank recommended setting up an expert policy board and fewer meetings followed by press conferences. the dollar was steady, Bitcoin dropped below $30,000. Oil fell while gold was steady after a Wednesday decline pushed the precious metal below $2,000 an ounce. US After Hours LVS +4.7%, IBM +1.6% higher on earnings; FFIV -4.5%, TSLA -3.4%, AA -2.1% lower on earnings.
Nikkei +0.22% Hang Seng -0.11% CSI -0.67% Shanghai -0.45% Shenzen -0.82%
Eur$ 1.0960 CNH 6.8958 CNY 6.8885 JPY 134.70 GBP 1.2437 CHF 0.8962 RUB 81.7339 TRY 19.4038 WTI$ 78.21 -1.20% Gold 1,995 -0.01% BTC 28,905 -1.17% ETH 1,955 -1.33%
S&P -0.30% Nasdaq -0.51% EuroStoxx -0.02% FTSE -0.05% Dax -0.14% SMI -0.11%
Macro :
- Cashing Out of Russia Will Come With New Tax on Foreign Business
- Amundi Says European Bank Bonds Most Attractive as Crisis Fades
Keep an eye on :
Keep an eye on :
- AF FP : Air France-KLM: Full Exit of French Recapitalization State Aid
- BCART BB : Biocartis 1Q Cash and Cash Equivalents EU43.9M Vs. EU26.1M Q/Q
- BONAVA SS : Bonava Prelim 1Q Net Sales About SEK2.4B
- BP/ LN :
- IAG LN : Vueling Cancels 66 Flights Fri.-Sat. Due to France Strikes: AFP
- CNHI IM : CNH Industrial Sold Business in Russia for $60M
- DBV FP : DBV to Run Viaskin Peanut Safety Study After pre-BLA response
- EDEN FP : Edenred 1Q Organic Revenue Beats Estimates
- ELISA FH : Elisa 1Q Comparable Ebitda Beats Estimates
- EQT SS : EQT 1Q Total Investments EU5B Vs. EU3B Y/y
- IPAR US : Inter Parfums FY EPS Forecast Beats Estimates
- OR FP : L’Oreal Posts ‘Strong’ 1Q Results Across the Board: Street Wrap
- OR FP : L’Oreal Posts ‘Strong’ 1Q Results Across the Board: Street Wrap
- LHA GY : Portugal Says Lufthansa ‘Welcome’ to Bid for a Stake in TAP
- MUL LN : Mulberry Says Performance is in Line With Expectations
- NOKIA FH ; Nokia Misses Estimates Citing Squeeze on Customer Spending
- NOD NO : Nordic Semiconductor 1Q Ebitda Misses Estimates
- RNO FP : Renault 1Q Revenue Beats Estimates
- RXL FP : Rexel 1Q Sales Beats Estimates
- RIO LN : Rio Tinto 1Q Pilbara Ore Shipments 82.5M Tons Vs. 71.5M Y/y
- ROG SW : Roche Says FDA OKs Polivy in Combination With R-CHP
- DIM FP : Sartorius Stedim Biotech 1Q Revenue Misses Estimates
- SCHP SW : Schindler 1Q Ebit Margin Beats Estimates
- SIKA SW : ACCC Won’t Oppose Sika’s Proposed Purchase of MBCC Group
- SIP BB : Sipef 1Q Palm Oil Output 87,639 Metric Tons Vs. 85,226 Y/y
- SUBC NO : Subsea 7 Extends $200M Share Repurchase Program
- TRYG DC : Tryg 1Q Pretax Profit Beats Estimates
- VRLA FP : Verallia Revenue and Earnings Substantially Ahead: Street Wrap
- VTWR GY : Virgin Media O2 Begins Sale of Stake in Mobile Tower Unit: FT
- VOLVB SS : Volvo 1Q Adjusted Operating Profit SEK18.41B Vs. SEK12.68B Y/y
- VOW GY : Russia Allows Volkswagen to Sell Its Domestic Plant: Vedomosti
- ROSE SW : Zur Rose 1Q Revenue CHF402.8M Vs. CHF418.9M Y/y