Asian stocks wavered Thursday, Treasuries held a rally and oil sank as investors parsed the economic outlook after Federal Reserve Chair Jerome Powell acknowledged the risk of a recession. An Asian share index was steady, with a report that Hong Kong’s incoming leader John Lee is working on a strategy to reopen the city’s borders helping sentiment. US and European futures were in the red. Treasuries were little changed after jumping in the Wall Street session, leaving policy-sensitive two-year yields at about 3.06%. Bonds jumped in Australia and New Zealand. The dollar and the yen inched higher. In commodities, oil dropped 3% to under $103 a barrel, sapped by fears over the demand outlook. A raw-materials index is at the lowest since March. Powell in testimony to the Senate Wednesday said the US has to get high inflation back down to the 2% target. He accepted that steep rate increases could cause an economic contraction and called a soft landing “very challenging.” The odds of the Fed’s rate-hiking cycle extending beyond the November policy meeting have diminished sharply as traders continue to price the prospects of a hard-landing and swifter policy reversal next year. Bitcoin climbed back above $20,000, while gold dipped. US After Hours Quiet after hours; SCS +4.3%, WOR +4%, KBH +3.1% higher on earnings.
Nikkei +0.06% Hang Seng +1.92% CSI +1.34% Shanghai +1.33% Shenzen +1.56%
Eur$ 1.0572 CNH 6.7089 CNY 6.7070 JPY 135.45 GBP 1.2260 CHF 0.9610 RUB 54.5320 TRY 17.3441 WTI$ 103.60 -2.45% Gold 1,843.50 -0.15% BTC 20,280 +2.10% ETH 1,080 +2.9%
S&P -0.118% Nasdaq -0.12% EuroStoxx -0.52% FTSE -0.37% Dax -0.48% SMI -0.32%
Macro :
- SEC to Propose New Rules for Online Brokers’ Game-Like Features
- End of Easy Money Era Raises the Risk of Deals Dying in Europe
Keep an eye on :
Keep an eye on :
- III LN : BC Partners Agrees to Buy Havea Group for >EU1B From 3i: Echos
- AIBG ID : AIB to Be Hit With Tracker Mortgage Fine: Irish Independent
- ATO FP : French Govt Supports Thales Buy of Atos Cybersecurity: BFM
- BMW GY : BMW Extends China Plant in Production, Electrification Boost
- CCL LN : Carnival Reaches $1.25M Data Breach Settlement With States
- C US : Mexican Billionaire Salinas Says No to Buying Citibanamex
- G IM : Generali Names Sesana General Manager in Donnet’s New Structure
- IDR SM : Spain’s Big Defense Push Hinges on Creating a National Champion
- META US : Facebook Parent Meta Pulls Out of Sponsorship Deal for U.S. 250th Anniversary Project -- WSJ
- META US : Facebook Parent Meta Pulls Out of Sponsorship Deal for U.S. 250th Anniversary Project -- WSJ
- META US : Meta Antitrust Judge Backs TikTok, WeChat, Telegram Data Request
- BMPS IM : Monte Paschi to Raise EU2.5b in 2026 Strategic Plan (1)
- MOWI NO : Mowi’s BC Permits Renewed for 2 Years to Develop Transition Plan
- NDX1 GY : Nordex Group Gets 63 MW Order From OX2 in Poland
- NAS NO : Norwegian Air Shuttle Sees NOK2B Net Gain From Deal With Boeing
- NOVN SW : Novartis to Spend $250 Million to Develop Tropical Disease Drugs
- NOVN SW : Novartis: FDA Gets Accelerated Approval for Tafinlar + Mekinist
- SAX GY : Stroeer Sees Statista IPO ‘Possible’ Next 2 Years: BZ (Earlier)
- P4F GY : Seadrill Gets Three Rig Extensions Worth $361 Million
- SBBB SS : SBB Enters OMX Stockholm 30 Index, Skanska Exits .km
- SGRE SM : Siemens Gamesa Gets Order for 882 MW of Wind Turbines
- SIE GY : Industrials Dust Off Electrolyzer Cabinet for Hydrogen Revival
- SIE GY : Amtrak Orders 50 More Charger Locomotives From Siemens Mobility
- STLA IM : Stellantis Idles Two Plants Through July 1 Due to Chips: Figaro
- STB NO : Storebrand Gets All Needed Regulatory Approvals for Danica Deal
- HO FP : French Govt Supports Thales Buy of Atos Cybersecurity: BFM
- TIT IM : Italy Awards Fastweb, Aruba for EU4.4 Billion Digital Tender Hub
- TOM NO : Tomra Targets 18% Ebita Margin by 2027, Annual Rev Growth 15%