Asian stocks struggled for solid footing amid a lack of local drivers after the S&P 500 crept to another record ahead of results from giant chipmaker Nvidia Corp. Shares in Japan slipped as the country reported a trade deficit, while those in Australia, Hong Kong and mainland China all traded within narrow ranges. Futures contracts on US equities were also little changed in Asian trading after the S&P 500 saw its 24th record this year. The MSCI Asia Pacific index swung between gains and losses after it snapped a seven-session win streak Tuesday. Investors are waiting to see if Nvidia, the poster child of artificial intelligence, will be able to match the sky-high expectations surrounding the technology. The New Zealand dollar jumped and government bond yields rose after the Reserve Bank of New Zealand signaled on Wednesday that interest rate cuts may start later in 2025. The central bank kept rates unchanged for a seventh straight meeting. Treasuries steadied after global bonds rallied on the latest sign that developed nations are finally getting a grip on inflation as Fed Governor Christopher Waller said the recent report on US price pressures was “a reassuring signal.” Minutes of the Federal Reserve’s latest meeting will be released later today. Trading in Asia will likely be quieter with Singapore closed for a holiday. Gold, silver and copper slipped after hitting recent highs, and oil extended losses following an industry report showed a jump in stockpiles. Stock investors are bracing for a spike in volatility, and upcoming events such as Nvidia’s earnings report can exacerbate any moves, according to Goldman Sachs Group Inc. strategists. The Santa Clara, California-based company — whose shares have soared over 90% this year after more than tripling in 2023 — is expected to report revenue buoyed by soaring demand in its data-center business. Meanwhile, Goldman’s measure of risk appetite hit the highest since 2021 last week, driven by optimism around economic growth and monetary policy, but momentum has slowed, the team led by Andrea Ferrario wrote. The strategists point to CBOE Volatility Index options data that signal higher demand for hedges against sudden market declines, at a time when the gauge has dropped to historically low levels. For Morgan Stanley’s Andrew Slimmon, there’s still plenty of room for the market to extend its gains from all-time highs. Low expectations for equities and the preference for a 5% to 6% yield from Treasury bills suggests that markets are still in the “fear” part of the current cycle, the senior portfolio manager at the bank’s investment management arm said Tuesday. US After Hours VSAT -12.6%, MOD -8%, SKY -4.2% lower on earnings; URBN +1.6%, TOL +1% higher on earnings; UNFI +5.2% extends wholesale grocery distribution partnership with Whole Foods.
Nikkei -0.69% Hang Seng +0.18% CSI +0.07% Shanghai +0.02% Shenzen -0.05%
Eur$ 1.0854 CNH 7.2494 CNY 7.2395 JPY 156.35 GBP 1.2711 CHF 0.9115 RUB 90.3092 TRY 32.2059 WTI$ 78.02 -0.81% Gold 2,413 -0.31% BTC 69,356 -0.52% ETH 3,740 -0.16%
S&P -0.03% Nasdaq +0.02% EuroStoxx +0.02% FTSE -0.37% Dax 0.06% SMI -0.10%
Macro :
- China Espionage Case Suspect Dies for ‘Unexplained’ Reason in UK
- Morgan Stanley’s Slimmon Sees Stocks Soaring Beyond Record Highs
- British Man Charged With Spying for Hong Kong Found Dead in Park
Keep an eye on :
Keep an eye on :
- ASM NA : ASMI Could Exceed 2025 Guidance as Micron Boosts Capex: React
- ATO FP : Kretinsky Mulls Cutting €300M-€400M Less of Atos Debt: BFM
- BT/A LN : UK’s Ofcom Fines BT £2.8M for Failing EE and Plusnet Customers
- CAI AV : CA Immo 1Q FFO I +12% Y/y to €27M, Market Still Challenging
- CAI AV : CA Immo 1Q FFO I +12% Y/y to €27M, Market Still Challenging
- ELI BB : Elia Group Maintains FY Net Income Forecast
- EVT GY : Evotec SE 1Q Adjusted Ebitda EU7.82M Vs. EU34.3M Y/y
- HBH GY : Hornbach Holding FY Ebit EU225.8M Vs. EU258.5M Y/y
- MC FP : Chanel Doesn’t Expect Olympics to Help Business in Paris: CFO
- MC FP : Chanel Doesn’t Expect Olympics to Help Business in Paris: CFO
- OMV AV : OMV Says Court Verdict May Risk Gazprom Gas Supply to Austria
- OSE FP : OSE, Boehringer Expand Drug Development Partnership
- PTON US : Peloton Prices Offering of $300M 5.50% Convertible Senior Notes
- ROG SW : Roche Granted FDA Breakthrough Designation for Heart Risk Test
- SDZ SW : Sandoz Gets European Commission Approval for Wyost, Jubbonti
- SU FP : Schneider Electric Says Talks With Bentley Systems Have Ended
- SNOW US : Snowflake Talks to Acquire Reka AI Said to Fizzle With No Deal
- GLE FP : SocGen’s Stock Turmoil Looms Over Krupa a Year After Taking Role
- SON PL : Sonae 1Q Net Income EU25M Vs. EU25M Y/y
- SHLN SW : Swiss Life 1Q Premium Revenue CHF7.52T Vs. CHF7.53B Y/y
- UCG IM : UniCredit chief Andrea Orcel backs French president’s call for bank deals
- YPSN SW : Ypsomed Sees 2025 Ebit About CHF140M, Est. CHF130.8M
- YPSN SW : Ypsomed to Separate Diabetes Care Ops, Mulls Strategic Options