Oil rose on a CNN report that new US intelligence suggested Israel is preparing for a potential strike on Iranian nuclear facilities. Brent crude rose 1.7%. It wasn’t clear that Israeli leaders had made a final decision to carry out the strikes, CNN said, citing officials it didn’t name. The Swiss franc and the yen, traditional haven assets, inched higher amid a broad weakening of the dollar. Yields on Japanese super-long sovereigns dipped after Tuesday’s surge, while those on the 30-year US Treasury hovered around the 5% mark. Contracts for the S&P 500 and the Nasdaq 100 dropped 0.3%. Asian shares rose 0.7%. Geopolitical tensions may add headwinds to the markets, which had calmed recently after a month of turmoil from the tariff blitz unleashed by US President Donald Trump. Investors are scouring for clues on whether recent gains in stocks can sustain, even as the Federal Reserve waits to gain a clearer view of the economy before lowering interest rates. Oil has been volatile since last week on mixed headlines about the fate of Iran-US nuclear talks, which could pave the way for more barrels to return to a market that’s expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to unrest in the Middle East, which supplies about a third of the world’s crude. The tensions triggered dollar selling and yen buying by risk-averse investors. A gauge of the greenback declined for a third straight day. “The US dollar has of course lost its luster as the undisputed safe reserve asset,” said Richard Franulovich, head of FX strategy at Westpac Banking Corp. As such, “these periodic geopolitical flare ups are going to show up more forcefully in alternatives like the yen and Swiss franc going forward.” A weaker dollar and lower interest rates will aid Asian shares, Morgan Stanley strategists said. The Morgan Stanley Asia Pacific Index rose 0.6% Wednesday, helped by technology companies such as Taiwan Semiconductor Manufacturing Co. and financial firms such as Mizuho Financial Group Inc. Asian markets could benefit further from a rotation out of US assets, but that depended on whether trade deals can be reached before the July 8 expiry of the 90-day US tariff pause, according to Bloomberg Intelligence. A weaker dollar is driving “hot money inflows” across emerging Asia as local currencies strengthen. Long-term Treasury yields climbed Tuesday as fractious US budget negotiations kept focus on the growth in deficit spending, with traders piling into bets that they will surge further. Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill. Traders are piling into bets that long-term Treasury yields will surge on concerns around the US government’s swelling debt and deficits. Bets favoring the 10-year yield testing 5% are among some of the bigger positions. In Japan, the sovereign debt market is flashing a warning to the central bank that dialing back its bond purchases needs to be done with great care. The issue is in sharp relief this week, with investors shunning an auction of government debt and yields soaring, just as market participants sit down with Bank of Japan officials to share views on tapering. Meanwhile, Federal Reserve Bank of St. Louis President Alberto Musalem said tariffs will likely weigh on the US economy and weaken the labor market. Musalem said the Fed can deliver a “balanced response” to both inflation and employment as long as Americans’ outlook on future prices remains anchored at the central bank’s 2% target. US After Hours PANW -4.2% lower on earnings; WOLF -58.2% on WSJ report it's preparing to file for bankruptcy; TOL +5.4% higher on earnings.
Nikkei -0.48% Hang Seng +0.62% CSI +0.56% Shanghai +0.24% Shenzen +0.10%
Eur$ 1.1320 CNH 7.2050 CNY 7.2073 JPY 143.78 GBP 1.3433 CHF 0.8223 RUB 80.9264 TRY 38.8376 WTI$ 63.23 +1.97% Gold 3,304 +0.42% BTC 107,626 +0.63% ETH 2,557 +1.74%
S&P -0.44% Nasdaq -0.50% EuroStoxx -0.18% FTSE +0.08% Dax -0.08% SMI -0.48%
Macro :
- Hedge Funds Cut Magnificent Seven Stocks, Bought China ADRs
- EU Likely to Propose Quota to Ban Russia Gas Imports by End 2027
- EU Likely to Propose Quota to Ban Russia Gas Imports by End 2027
- SEC Charges Unicoin and Executives With $100 Million Fraud
- Morgan Stanley Strategists Say Buy America Except the Dollar
- FAA Cuts Newark Airport Flights After Air Traffic Control Issues
- Scientists warn if a 1,000-ft ‘mega-tsunami’ spurs from an active fault line it could wipe part of America off the map
Keep an eye on :
Keep an eye on :
- ADT AU : Adriatic Metals Confirms Dundee Precious Metals Takeover Talks
- AAPL US : Apple’s Tim Cook Met With Trump Today, Politico Reports
- 1211 HK : BYD : +3.30%
- CMBT BB : CMB Tech 1Q EPS Misses Estimates
- 3750 HK : CATL : +8.50%
- CIFR US : Cipher Mining Prices $150m Convertible Senior Notes Due 2030
- CVC NA : Blackstone, CVC Split From Group Formed to Invest in NFL Teams
- EFGN SW : EFG AuM Totalled CHF159.2B at End-April Vs CHF165.5B at End-2024
- ELI BB : Elia Group Maintains FY Net Income Forecast
- EMILB SS : Emilshus Offering of 12m Shares Prices at SEK45.50/Share
- EBK GY : EP Energy to Buy Lippendorf Lignite Power Unit From EnBW
- EBK GY : EP Energy to Buy Lippendorf Lignite Power Unit From EnBW
- GREEN BB : Greenyard Cuts 2026 Adjusted Ebitda From Continuing Ops Forecast
- HEIO NA : Femsa’s €359M Heineken Stake Sale Said to Draw About 100 Orders
- HBH GY : Hornbach Holding FY Adjusted Ebit EU269.5M
- IDIA SW : Idorsia Signs CHF150M New Money Facility From Bondholders
- IFX GY : Infineon to revolutionize power delivery architecture for future AI server racks with NVIDIA
- BAER SW : Julius Baer Takes $156 Million Loan Hit as New CEO Seeks Cleanup
- LDO IM : Leonardo to Supply Malaysia With Up to 28 Helicopters
- LDO IM : Leonardo to Supply Malaysia With Up to 28 Helicopters
- ML FP : Michelin April Car and Light Truck Original Equipment Tires -4%
- MUSTI FH : Musti Group 2Q Net Sales EU119.8M
- 7201 JP : In Latest EV Pullback, Ford to Share Battery Plant With Nissan -- WSJ
- NVDA US : Nvidia CEO Urges US to Lower Barriers to $50 Billion China Arena
- ORNBV FH : Orion: MSD Expands Clinical Development Program for Opevesostat
- PFE US : China Drugmakers Rally for a Second Day After Pfizer-3SBio Deal
- 1913 HK : Prada +1.15%
- PRS SM : Prisa Appoints CFO Gil as CEO of Prisa Media
- RIO LN : Rio Tinto to Apply for Third Lithium Project in Argentina
- ROG SW : Roche Says FDA Committee Requires Further Data on Columvi
- 9984 JP : SoftBank Taps Mizuho, SMBC, JPMorgan to Lead $15 Billion Loan
- STLA US : Stellantis in Talks With PSG on Potential Poissy Stadium: Echos
- TSLA US : Musk Is Fully Committed to Trump, Will Stay As Adviser: Reuters
- HO FP : French Prosecutors Claim Najib Role in 2002 Defense Deal Bribes
- WOLF US : Wolfspeed Prepares to File for Bankruptcy Within Weeks -- WSJ
- YPSN SW : Ypsomed Sees 2026 Ebit CHF190M to CHF210M, Est. CHF203.4M