Technology shares came under renewed pressure as sentiment toward the artificial intelligence trade remained jittery ahead of key earnings reports this week that will test the strength of gains in chip stocks. The dollar weakened. South Korea’s Kospi Index — a bellwether for AI investments — dropped 4.2%, with chip heavyweight SK Hynix Inc. heading for its lowest close since April. MSCI Inc.’s Asia Pacific Index fell 1.2%, diverging from Monday’s tech-led gains on Wall Street. As sentiment weakened, futures for Nasdaq fell 0.2%, and European shares were set to open 0.6% lower. Adding to signs of pressure on the AI trade, data-center infrastructure company Elice Inc. plunged as much as 33% in its trading debut in Seoul. Elsewhere, Treasuries held on to their losses from Monday, when reduced haven demand pushed yields higher. The yield on the benchmark 10-year US note stood at 5.13% after climbing seven basis points in US trading. French bonds also declined following violent unrest over the weekend. The AI trade faces a fresh test this week as earnings from major technology companies, including Meta Platforms Inc. and Tesla Inc., offer clues on whether the rally has further room to run after concerns over heavy spending and higher interest rates rattled the sector. The backdrop also remains challenging, with elevated bond yields raising financing costs and oil prices adding to inflation concerns. Netflix Inc. reports Tuesday, followed by Tesla, Meta and International Business Machines Corp. the following day. The Philadelphia Semiconductor Index climbed 1.6% Monday, snapping an eight-day losing streak that was its longest since 2008. The gains helped the Nasdaq 100 Index recover from its worst week since the tariff turmoil of April 2025. While chip stocks rebounded, about 65% of stocks on the S&P 500 Index declined. In Asia, SoftBank Group Corp.’s credit risk, as measured by its credit-default swaps, has risen to the highest level in nearly four years as concerns grow over AI-related funding and a potential large acquisition. In other corners of the market, gold was little changed at about $4,145 an ounce. Global crude benchmark Brent was steady near a five-month high as traders weighed the risk of further Iranian attacks in the Strait of Hormuz against robust crude flows from the Persian Gulf. The commodity traded at $109.80 a barrel. The dollar declined against all of its Group-of-10 peers. The euro is also on traders’ radars amid rising geopolitical risks in France. French officials rolled out tougher security measures and pledged aid for businesses after cost-of-living protests over the weekend degenerated into violence, vandalism and looting. But a debt mountain and a budget deficit among the largest in the euro area mean the French government cannot simply increase spending to appease the public. US After Hours JELD +3.0%, BOKF +2.0% higher on earnings; RAIL -20.9%, STLD -5.3%, CCK -4.9%, WRB -1.7%, TRI -1.7%, WTFC -1.0% lower on earnings.
Nikkei -1.33% Hang Seng -1.14% CSI -1.13% Kospi -4.05% Shanghai -0.50% Shenzen -0.24%
Eur$ 1.1233 CNH 6.6786 CNY 6.6793 JPY 158.23 GBP 1.3333 CHF 0.8248 RUB 82.8001 TRY 49.5757 WTI$ 103.99 Gold 4,139 -0.10% BTC 81,941 -- ETH 2,406.50 +0.30%
S&P +0.04% Nasdaq -0.24% EuroStoxx -0.83% FTSE -0.48% Dax -0.50% SMI -0.14%
Macro :
- DOT to Invest $2.3b in US Freight and Rail Infrastructure
- Merz Vows to Tap German Economic Strength to Revive Investments
Keep an eye on :
Keep an eye on :
- ABBN SW : ABB 3Q Operating Ebita Beats Estimates
- ABBN SW : ABB To Buy 51% Stake in Mitsubishi Electric Unit for ~$495m
- AAL LN : Anglo American 3Q Copper Production Misses Estimates
- AZN LN : Oracle, AstraZeneca to Explore AI in Clinical Trials
- ASTS US : AST SpaceMobile Shares Rise After European Spectrum Update
- BAMNB NA : Royal BAM Buys 40% Stake in VLST for ~€45m
- BAR BB : Barco 3Q Orders Misses Estimates
- BIM FP : BioMérieux: WHO Grants Emergency Use Listing for BIOFIRE Panel
- BMAX SS : Byggmax 3Q Ebit Meets Estimates
- BX US : Blackstone to Invest $40b in Japan Over 3 Years, CEO Says: NHK
- CLX US : Clorox 1Q Set to Disappoint, With a Guidance Cut, JPMorgan Says
- CBK GY : German Bafin Fines Nomura €320,000 Over Commerzbank Disclosures
- COTN SW : Comet Boosts FY Sales Forecast, Beats Estimates
- FNAC FP : Fnac Darty Says EP Group Deal Gets EU Antitrust Clearance
- FORTUM FH : Fortum scraps charging network business sale deal to JBM Group promoters
- GSK LN : GSK's Jemperli Gets FDA Approval for Rectal Cancer
- HAKIB SS : HAKI Safety 3Q Sales Miss Estimates
- HPUR NO : Hexagon Purus 3Q Revenue Misses Estimates
- HUBN SW : Huber+Suhner 9M Orders CHF811.9M Vs. CHF818.7M Y/y
- TISG IM : Italian Sea Group Gets Receipt of Five Binding Offers
- LIME SS : Lime Technologies 3Q Sales Above Estimates
- KN FP : Natixis Buys Japanese Advisory Firm to Join M&A Dealmaking Boom
- NOVN SW : Novartis Gets FDA Orphan Drug Status for Rapcabtagene autoleucel
- NOVN SW : Novartis Gets FDA Orphan Drug Status for Rapcabtagene autoleucel
- NSCL US : Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
- OVH FP : OVH Groupe Sees 2027 Adjusted Ebitda Margin Above 42.5%
- PUB FP : FTC Requires Publicis to Keep LiveRamp as Neutral Platform
- RIO LN : Blackstone, IFM Investors lob bids for Rio Tinto’s $7b power assets
- SCST SS : Scandi Standard 3Q Net Sales Beat Estimates
- SU FP ; Schneider Launches €6B Capital Increase to Fund PTC Purchase, Schneider Electric Places 25M New Shares to Fund PTC Deal
- SOLB BB : Solvay Cuts FY Underlying Ebitda Forecast, Misses Estimates
- SOLS US : Activist Starboard targets Honeywell spin-off Solstice after failed megadeal
- TEL2B SS : Tele2 3Q Adjusted Ebitdaal Misses; Narrows FY Growth Forecast
- TSAT CN : Telesat Lenders Propose C$3.2 Billion Rescue Deal to Avert December Default -- WSJ
- UCG IM : UniCredit to Buy Back Securities-Services Unit From SocGen: Rtrs
- ULVR LN : Unilever Agrees to Sell Welly Bandage Business to Private-Equity Firm -- WSJ
- VIRP FP : Virbac 3Q Organic Revenue at Constant FX, Scope +8.8%
- Waymo IPO : Waymo To Quintuple Fleet Using $5B in Raised Funds: Semafor