Stocks extended a rally in Asia Wednesday amid a dip in the dollar and speculation that the worst of this year’s equity rout may be over. A gauge of Asian equities added 1.5%, lifted by Japan and Hong Kong, after the S&P 500’s biggest jump since June. US futures pushed higher, encouraged by a late Netflix Inc. surge on a smaller-than-expected subscriber loss. Chinese share gains were more muted given property-sector and Covid challenges. Traders were also digesting a report that Beijing is preparing to hand down a fine of more than $1 billion to Didi Global Inc. before wrapping up a year-long probe into the ride-hailing giant. A dollar gauge has shed about 1% this week, underscoring waning haven demand for the greenback and a brighter mood in markets. Treasuries held a decline that’s taken the 10-year yield back above 3%. The euro hovered around a two-week high against the dollar on the possibility of a bigger-than-expected European Central Bank interest-rate hike Thursday. Speculation that company earnings will hold up and that the Federal Reserve will avoid very aggressive monetary tightening appears to be giving investors some comfort. In Europe, Gazprom PJSC is poised to restart gas exports through its Nord Stream pipeline to Europe on Thursday at reduced capacity, as the continent braces for shortages amid the war in Ukraine. Elsewhere, crude oil slipped below $104 a barrel. Bitcoin hovered above $23,000 after climbing out of a one-month-old trading range. US After Hours NFLX +8.2% jumps as net adds better than expected, other streaming names also higher; OMC +7.1% also up big on earnings
Nikkei +2.55% Hang Seng +1.46% CSI +0.02% Shanghai +0.46% Shenzen +0.27%
Eur$ 1.0243 CNH 6.7490 CNY 6.7463 JPY 138.10 GBP 1.2025 CHF 0.9683 RUB 56.50 TRY 17.5443 WTI$ 103.53 -0.66% Gold 1,712.22 +0.03% BTC 23,426 +0.53% ETH 1,560.65 +0.08%
S&P +0.41% Nasdaq +0.35% EuroStoxx +0.08% FTSE +0.49% Dax +0.32% SMI +0.16%
Macro :
- *EU CONSIDERS 15% REDUCTION IN NATURAL GAS DEMAND FOR AUG-MARCH
- China’s Loan Boycott Spreads to Property Industry Suppliers
- JPMorgan Could Move 1,000 UK Staff to Paris or Frankfurt: Echos
- Italian Stocks Could Be Active as Political Turmoil Rattles On
Keep an eye on :
- AIR FP : *AIRBUS CEO SAYS SUPPLY CHAIN CRISIS WILL LAST UNTIL 2023: FT
- AKZA NA : Akzo Nobel 2Q Adjusted Operating Income Misses Estimates (1)
- ALFA SS : Alfa Laval 2Q Orders Beats Estimates
- ALSN SW : Also Maintains FY Ebitda Forecast
- ASML NA : ASML Cuts Sales Growth Forecast Amid Continued Testing Delays
- ATL IM : Atlantia to Consider Mutually Agreed Exit of CEO Bertazzo
- BARN SW : Barry Callebaut 9M Sales CHF6.1B Vs. CHF5.35B Y/y
- BAS GY : BASF Gives Final OK for Construction of Zhanjiang Verbund Site
- BHG SS : BHG Group 2Q Sales Beats Estimates
- BILL SS : BillerudKorsnas 2Q Adjusted Ebitda Beats Estimates
- CA FP : Carrefour to Sell 60% Stake in Taiwan Unit at EU2B Ent. Value
- ACA FP : Credit Agricole Deputy General Manager Jacques Ripoll to Leave
- DFL Deutsche Fussball Liga : German DFL May Get EU3b-EU4b from Sale of Media Rights Stake: HB
- EZJ LN : EasyJet Founder Plans to Vote in Favor of Airbus Order: FT
- GF SW : Georg Fischer 1H Ebit Beats Estimates
- HYL BB : Hyloris Announces Positive Results in Phase 1 Study of HY-004
- MGGT LN : UK’s Kwarteng Clears Meggitt Acquisition by Parker-Hannifin
- MTC LN : Mothercare may Leave Russia, Vedomosti Reports
- CFR SW : Activist Bluebell Wants Ex-Bulgari CEO on Richemont Board
- STM FP : Stephen Nellis: Plans for @GlobalFoundries $5.7 billion fab with STMicro in France came together in just six months because
- TELIA SS : Telia 2Q Net Sales Meets Estimates
- UN01 GY : German Government Is Said to Near State-Led Bailout of Uniper
- UN01 GY : Uniper Supervisory Board Holds Special Meeting on Gas Crisis: RP
- VALN SW : Valora 1H Ebit CHF8.1M Vs. CHF7.4M Y/y (1)
- DG FP : Vinci Airports 2Q Traffic Sees 3.4x Increase Y/Y
- VIRP FP : Virbac 2Q Organic Revenue at Constant FX +7.8%
- VOW GY : VW Puts US CEO in Charge of Revived Scout Pickup, SUV Brand
- VOW GY : VW’s Affordable Brands Will Become More Similar Under the Hood
- VOW GY : Indonesia to Sign EV Investment Pact With Volkswagen This Year
- WBD IM : Webuild’s US Unit Wins $223m Highway Contract in Florida