Stocks in Asia edged higher and the dollar was little changed as investors weighed hawkish comments from Federal Reserve officials and geopolitical tensions. A gauge of Asian stocks climbed, while US futures pared losses following a decline in the S&P 500 Index on Friday as it slid for a second week. A report from Goldman Sachs Group Inc. tipping a rebound in Chinese stocks added something of a counterweight to the flow of news damping appetite for equities. Separately, Chinese lenders followed the central bank by keeping their benchmark lending rates unchanged Monday, with analysts expecting possible reductions in coming months to support the economic recovery. The dollar advanced versus most of its Group-of-10 peers following a weekend that saw no cooling of US-China tensions. investors are focused on the shifting outlook for interest rates, with traders fully pricing in quarter-point interest rate increases at the Fed’s next two meetings after policy makers said Thursday that bigger hikes were not out of the question. The moves in currencies and bonds around Asia on Monday were modest, in part reflecting the Presidents’ Day holiday in the US. There was no cash Treasuries trading Monday. Looking further ahead this week, investors will also be watching for more commentary on the American consumers as Walmart Inc. and Home Depot Inc. kick off a slew of retail earnings reports. Further signs of resilient economy could provide more reasons for the Fed to hold rates higher for longer. Morgan Stanley equity strategist Michael Wilson warned that even though economic situation appeared to have improved at the margin, with additional liquidity provided by central banks, it would not forestall an earnings recession. “The bear market rally that began in October from reasonable prices and low expectations has morphed into a speculative frenzy based on a Fed pause/pivot that isn’t coming,” he wrote in a note. In commodities, oil climbed after capping its longest string of daily losses on the year last week. Rising US oil inventories and the prospect of further tightening by the Fed last week eclipsed the lift from signs that Chinese energy demand is improving. Gold slid.
Nikkei +0,07% Hang Seng +0,92% CSI +2,09% Shanghai +1,78% Shenzen +1,41%
Eur$ 1,0688 CNH 6,8717 CNY 6,8654 JPY 134,15 GBP 1,2035 CHF 0,9245 RUB 74,1150 TRY 18,8626 WTI$ 76,77 Gold 1,844 BTC 24,456 -0,40% ETH 1,687
S&P +0,02% Nasdaq +0,09% EuroStoxx +0,35% FTSE +0,42% Dax +0,32% SMI +0,28%
Macro :
- Fed QE Legacy Means Traders Underestimate Rate Path: Macro View
- Citi’s Buckland Expects Contrarian Stock Trades to Fizzle Out
- US-China Meeting Only Worsens Tensions Over Balloon, Russia
- Aluminum Gains as China Cuts Capacity Due to Energy Shortages
- Iran Nuclear Inspectors Find Uranium Enriched to 84% Purity
Keep an eye on :
- ADJ GY : Adler Group Amends Terms With Bondholder Group on Restructuring
- ALM SM : Almirall Sees 2023 Ebitda EU165M to EU180M
- BSGR NA : B&S CEO Tako de Haan Resigns; Company Delays FY Results
- COL SM : *COLONIAL WEIGHS SELLING IBM OFFICES IN MADRID: EL CONFIDENCIAL
- EDF FP : EDF Says Price Tag of UK Nuclear Power Plant Soars on Inflation
- EO FP : Faurecia to Sell ‘SAS’ Cockpit Modules Unit to Motherson Group
- EO FP : Faurecia FY Ebitda Beats Estimates, UPGRADES COST, SALES SYNERGIES FROM HELLA ACQUISITION
- FWONA US : Formula 1 Will Never Go Electric, CEO Tells Italian Newspaper
- FUR NA : Fugro Secures Offshore Wind Program on US East Coast
- GREEN BB : Greenyard 3Q Revenue EU1.11B Vs. EU1.04B Y/y
- RMS FP : If Consumers Are Saviors, Upcoming Retail Earnings Will Show It
- HRGI NO : Horisont Energi, Neptune Energy, EON Sign CCS Value Chain MoU
- ICAD FP : ICADE FY Group Net Current Cash Flow per Share Beats Estimates
- KUD SW : Kudelski Group Sells DVNor Assets to Pixlo of Sweden; No Terms
- META US : Meta's Subscription Pivot Aimed at Creators, Retention: React
- MRW LN : Morrisons to Make Price Cuts Worth £25 Million to Help Shoppers
- NOVN SW : Novartis Designates Firmenich CEO Ghostine Chairman of Sandoz
- REJLB SS : Rejlers to Buy Eurocon Consulting in Cash for SEK10.75 per Share
- RNO FP : Renault’s Alpine Seeking Women Drivers for its Formula 1 Team
- SAF FP : Safran Sees 50% Jump in 2023 Aircraft Engine Deliveries: Echos
- SHUR BB : Shurgard FY Net Operating Income EU219.2M Vs. EU194.4M Y/y
- STAN LN : StanChart HK Plans to Hire Up to 500 Staff This Year, SCMP Says
- SUN SW : Sulzer FY Ebit Misses Estimates
- TIT IM : CDP’s Telecom Italia Bid May Need Competition Fixes, Report Says
- TSCO LN : Sky News: Supermarket giant Tesco to explore sale of banking arm
- VLA FP : Valneva Says FDA Accepts Chikungunya Jab for Priority Review