Stocks traded within narrow ranges while the dollar hovered near its weakest level in almost three months ahead of national holidays. A gauge for Asian equity benchmarks was mostly unchanged as artificial intelligence stocks slipped following a tepid reaction from investors on Nvidia Corp.’s earnings. Futures for European and US stocks were little changed as trading became more muted in the leadup to a holiday in Japan and US Thanksgiving on Thursday. Mainland Chinese shares edged lower, with tech and industrial companies among the laggards. Chinese stocks will remain around current levels for some time, according to Hao Hong, chief economist at Grow Investment Group. The offshore yuan extended its winning streak into a fifth day after China’s central bank set the currency fixing at the strongest level since June. The yuan had jumped beyond the daily reference rate for the first time since July in the previous session. Treasuries were little-changed in Asian hours after climbing Tuesday, led by the shorter end. The greenback traded in narrow ranges against its Group-of-10 peers. Cryptocurrencies fell as Binance Holdings Ltd. and its CEO Changpeng “CZ” Zhao pleaded guilty to antimoney-laundering and US sanctions violations under a sweeping settlement with the US. The deal allows Binance to continue operating, though Zhao stepped down as CEO and will be replaced by Richard Teng. Bitcoin fell as much as 3.2% to $35,663, and Ether declined as much as 2.8% to $1,930.75 before paring the loss. The Fed’s minutes released Tuesday show policymakers united around a strategy to “proceed carefully” on future interest-rate moves and base any further tightening on progress toward their inflation goal. Swap contracts linked to Fed meetings currently price in around 25% probability of a first Fed rate cut in March.
Meanwhile, among areas of focus in Asia is China’s latest probe into company executives after the arrest of game-streaming company DouYu International Holdings Ltd.’s founder Chen Shaojie on unspecified charges. A series of unexplained executive detentions have created jitters across the country’s private sector. Markets took news of a limited pause in fighting between Israel and Hamas in stride. Israel’s deal with Hamas will free about 50 hostages in return for a four-day pause in fighting in the Gaza Strip and some Palestinians will be released from Israeli prisons. Oil steadied, with signs of another stockpile build in the US coming ahead of an OPEC+ meeting on supply over the weekend. US After Hours NVDA -1.1% is the big headline after hours, ticks lower on earnings; other names lower on earnings: ADSK -4%, HPQ -3.3%, GES -14.4%, DLO -12.5%, JACK -5.6%, URBN -2.8%.
Nikkei +0.29% Hang Seng -0.37% CSI -0.86% Shanghai -0.65% Shenzen -1.03%
Eur$ 1.0915 CNH 7.1405 CNY 7.1394 JPY 148.67 GBP 1.2527 CHF 0.8839 RUB 88.2451 TRY 28.8105 WTI$ 77.75 -0.03% Gold 1,998 -0.02% BTC 36,400 -1.16% ETH 1,986
S&P -0.11% Nasdaq -0.24% EuroStoxx +0.09% FTSE +0.01% Dax +0.11% SMI +0.19%
Macro :
- Israel, Hamas Agree To Pause Fighting for Release of Hostages
- Banks Tap Convertible Talent as Debt Wall Looms: ECM Watch
- ECB Says Tax Hit to Bank Valuations Can Create Stability Risks
- ECB Says Tax Hit to Bank Valuations Can Create Stability Risks
- FTC Probes $10b Deal for Subway Sandwich Chain, Politico Says
- VIX Traders Place $4.5 Million Bet Fear Gauge to Climb in Month
- RBC’s Calvasina Sees S&P 500 Rallying to a Record 5,000 in 2024
Keep an eye on :
- ADE NO : Adevinta Take-Private Deal May Sway Minority Shareholders
Keep an eye on :
- ADE NO : Adevinta Take-Private Deal May Sway Minority Shareholders
- ADE NO : Adevinta 3Q Ebitda Beats Estimates
- BA US : Boeing Hack Targeted Flaw With Citrix System, Investigators Say
- BMW GY : Dubai Warms to BEVs, Boosting Tesla, BMW's Sales View: BI Survey
- CO FP : Casino Sees FY Ebitda Loss After Leases EU78M to EU140M
- CLNX SM : Cellnex Readies Sale of Irish Unit Ahead of Deal Wave, CEO Says
- DEME BB : DEME Group 9M Turnover EU2.28B Vs. EU1.97B Y/ydes
- ELIOR FP : Elior Group Cuts 2024 Adjusted Ebita Margin Forecast
- ENEL IM : Enel Sees 2024 Adj Net EU6.6B to EU6.8B, Est. EU6.78B
- EQNR NO : Equinor and BP Offshore Wind Farm Near New York Wins Approval
- ERF FP : Eurofins Says Lactalis Claims Over Salmonella Case ‘Unjustified’
- FME GY : Fresenius Medical Resolves US Lawsuit, Raises Guidance
- GJF NO : Gjensidige Targets Return on Equity Above 22% for 2024, 2025
- HL/ LN : Hargreaves Lansdown Faces End to 12-Year Stay in FTSE 100 Index
- HELN SW : Helvetia Sees Exceptionally High Severe Weather Claims Expenses
- HDLY NO : Huddly Offering of 260m Shares Prices via Pareto Securities
- IFX GY : SOX Index Falls 1.9%; Intel Leads Decline
- ITX GY : Guess Cuts FY Adjusted EPS Forecast, Misses Estimates --> -16%
- ITP FP : Interparfums 2024 Sales Forecast Misses Estimates
- JMAT LN : Johnson Matthey to Cut Over Quarter of Management Team: Sky
- MC FP : Antoine Arnault to Step Down as Berluti CEO on Jan. 1: Figaro
- MSFT US : Microsoft’s Nadella Praises OpenAI Board, Governance Changes
- BMPS IM : BlackRock, Algebris Among Buyers in Paschi Share Placement: MF
- NVDA US : Nvidia 4Q Revenue Forecast Beats Estimates
- ORSTED DC : Orsted Opts Out of Planned Vietnam Wind Projects: VietnamFinance
- SAS SS : Airline SAS Gets US Court Approval for $1.2 Billion Rescue Plan
- SCHA NO : Schibsted Set for Big Returns Boost After Adevinta Deal: React
- SHOT SS : Scandic Hotels Group’s Largest Shareholder Cuts Ownership Stake
- SIGN SW : SIG Group Keeps Mid-Term Revenue Growth Target of 4% to 6%
- SIP BB : Sipef Closely Monitoring Ulawun Volcano Eruption Impact (Nov 21)
- SMCP FP : Guess Cuts FY Adjusted EPS Forecast, Misses Estimates
- HO FP : Thales Gets A$2b Australian Naval Maintenance Contract
- TKA GY : Thyssenkrupp FY Net Loss Misses Estimates
- TKA GY : Thyssenkrupp Writes Down Steel Unit Again as Energy Crisis Bites
- STAT NO : Vesteralen Havbruk Offers Shares at NOK25/Share