Most Asian stocks fell Thursday as investors weighed corporate earnings, elevated inflation and the outlook for China’s property sector. Japan’s yen strengthened.
Equities retreated in Japan and Hong Kong and were little changed in China. While ailing China Evergrande Group sank on a worsening cash squeeze, other developers rallied after regulators said real-estate risks are controllable. U.S. and European futures were in the red following a mixed Wall Street session in which the S&P 500 neared a record and the tech-heavy Nasdaq 100 slipped.
Longer term Treasury yields trimmed an advance. The 10-year breakeven rate -- a proxy for where investors see annual inflation rates over the next decade -- touched the highest since 2013. A similar measure for Japan reached a three-year high.
The dollar was little changed, crude oil was steady and Bitcoin retreated from an all-time peak. Chinese coal futures plunged amid efforts by officials to contain power costs.
The Fed is “trapped in a very difficult situation,” David Kudla, chief executive officer at Mainstay Capital Management, said on Bloomberg Television. That’s because of the possibility of reduced stimulus followed by rate hikes amid a significant slowing of economic expansion, he said.
Meanwhile, the U.S. Food and Drug Administration cleared the way for Moderna Inc. and Johnson & Johnson Covid-19 booster shots. Russia is among countries stepping up virus restrictions to curb surging infections.
Macro :
- Zuckerberg Should Testify at Instagram Hearing, Blumenthal Says
- U.K. to Buy Merck, Pfizer Antivirals as Covid Cases Surge
Keep an eye on :
- ABBN SW : ABB 3Q Operating Ebita Meets Estimates
- AI FP : Air Liquide Acquires Remaining Stake in H2V Normandy
- AAD GY : Amadeus Fire Boosts FY Adjusted Ebita Forecast
- ATEA NO : Atea 3Q Revenue Meets Estimates
- ATI GY : Aroundtown Offers to Buy Remaining Shares of TLG Immobilien
- ATO FP : Atos 3Q Revenue Meets Estimates
- AKSO NO : Aker Solutions Wins LoI for Equinor FEED Contract for Wisting
- AXFO SS : Axfood 3Q Operating Profit SEK793M Vs. SEK796M Y/y
- BIM FP : BioMerieux Boosts FY Organic Sales Forecast
- BMW GY : BMW, Audi, Daimler Want to List HERE Via SPAC: Manager Magazin
- BRG NO : Borregaard 3Q Ebitda Beats Estimates
- DAI GY : Daimler Invests $170 Million in New R&D Tech Center in Beijing
- EDEN FP : Edenred Sees FY Ebitda High End Of EU620M to EU670M
- ENGI FP : Engie Says 9-Mth Outright European Power Production Rises
- EPIA SS : Epiroc 3Q Orders Beats Estimates
- ERF FP : Eurofins Scientific Boosts FY Revenue Forecast
- FINGB SS : Fingerprint Cards 3Q Oper Income SEK10.8M Vs. Loss SEK4.70M Y/y
- GAM SW : GAM Holding 3Q Net Outflows Investment Mgmt CHF1.2B
- GET FP : Getlink 3Q Rev. EU223.1m, Est. EU224.7m
- HEI GY : HeidelbergCement: HyNet North West Gets U.K. Government Funding
- RMS FP : Hermes 3Q Leather & Saddlery Sales +22.2%, Est. 18.2%
- HUBN SW : Huber + Suhner 9M Orders CHF743.2M Vs. CHF571M Y/y
- IPN FP : Ipsen Boosts FY Sales At Constant Exchange Rates Forecast
- B4B GY : Metro FY Net Sales Beat Estimates
- NEM GY : Nemetschek CEO Says New Media Unit to Boost Revenue: Boerse
- NOD NO : Nordic Semiconductor 3Q Ebitda Beats Estimates
- NOVN SW : Novartis Signs Follow-Up Agreement With BioNTech to Fill Vaccine
- ORA FP : Orange Belgium 3Q Adjusted Ebitda EU96.7M Vs. EU89.4M Y/y
- RI FP : Pernod Ricard 1Q Organic Sales Beat Estimates
- PSH NA : Ackman Sees Signficant Risks in ‘Wait & See’ Approach to Rates
- RAND NA : Randstad 3Q Organic Revenue Beats Estimates
- REE SM : Red Electrica Receives 7 Offers for Reintel Stake: Cinco Dias
- RNO FP : France to Keep 6,000-Euro Electric-Car Subsidy, Le Maire Says
- RXL FP : Rexel 3Q Sales Miss Estimates
- SAN FP : FDA Expands Approval of Regeneron, Sanofi Asthma Treatment
- SAP GY : *SAP CONFIRMS 3Q PRELIMINARY RESULTS, FY OUTLOOK RAISED OCT. 12
- SLIGR NA : Sligro 3Q Sales EU556M Vs. EU547M Y/y
- SW FP : Sachem Head Discloses Passive Stake in Sodexo
- SOI FP : SOITEC 2Q Revenue Meets Estimates
- SOW GY : Software AG 3Q New Bookings +5%
- TKAWY NA : *JUST EAT TAKEAWAY SAYS 2021 WILL BE PEAK YEAR OF LOSSES
- TELIA SS : Telia 3Q Adjusted Ebitda Beats Estimates
- TEP FP : Technip Energies 9-Mo. Ebit Rises; Sees Margin of at Least 6%
- TSLA US : Tesla 3Q Revenue Misses Estimates: Snapshot
- UNA NA : Unilever 3Q Underlying Sales Miss Estimates
- VOLVB SS : Volvo Beats Estimate Despite Chip Crunch Weighing on Production
- ROSE SW : Zur Rose Appoints Walter Hess As New CEO