Asian stocks hovered near a record, following a tech-driven rally that pushed Wall Street to yet another peak. Shares in Hong Kong and mainland China fell. The MSCI Asia Pacific Index rose 0.1%, paring some of its morning gains. The Hang Seng Index in Hong Kong fell 0.7% with the city facing its most damaging typhoon since 2018. Baidu Inc. shares dropped as much as 7%. There will be no cash trading of Treasuries during the Asian day as Tokyo is closed for a public holiday. The S&P 500 notched its 28th record of the year as Nvidia Corp. jumped about 4% after pledging to invest up to $100 billion in OpenAI. Asian chip-related stocks such as Taiwan Semiconductor Manufacturing Co. rose. A gauge of the dollar consolidated as investors awaited speeches by more Federal Reserve officials to better gauge the central bank’s policy path. Gold dipped after climbing to a record. Wall Street traders shrugged off calls for a pause after a $15 trillion rally from April lows, with technology stocks leading the advance. US equities, up for three straight weeks on the back of the Fed’s first rate cut of the year, now face a key test with quarterly earnings looming. Action was relatively muted in the bond market Tuesday, with US yields slightly higher ahead of this week’s Treasury auctions and a key inflation reading. The Fed’s preferred gauge of underlying inflation likely grew at a slower pace last month, offering policymakers some breathing room to address weakness in the US labor market. The report on Friday is forecast to show the personal consumption expenditures price index excluding food and energy rose 0.2% in August, compared with 0.3% in July. On an annual basis, the so-called core measure is seen holding at a still-elevated 2.9%. Several Fed officials are set to speak at public events this week, including Chair Jerome Powell on Tuesday. In his first policy speech since joining the Fed, Governor Stephen Miran laid out his argument for aggressively lowering interest rates. Meantime, Fed Bank of St. Louis President Alberto Musalem noted he sees limited room for cuts amid elevated inflation. His Cleveland counterpart Beth Hammack said officials should be cautious to avoid overheating the economy. Elsewhere, New Zealand is set to appoint a woman as head of its central bank for the first time as it seeks to refresh an institution damaged by leadership turmoil, according to a person familiar with the matter. In another twist, the new Reserve Bank of New Zealand governor is a foreigner, the person said, asking not to be named discussing market-sensitive information. They wouldn’t identify the new governor. In Hong Kong, super typhoon Ragasa poses a potential test for the city’s push to keep markets open during severe weather. US After Hours SAVA +30.6% sharply higher following disclosure of insider CEO purchases; PDFS +13.3% on new contract and reaffirmed guidance; FLY -10.9% lower on earnings.
Nikkei Closed Hang Seng -1.08% CSI -1.10% Shanghai -1.21% Shenzen -2.23%
Eur$ 1.1802 CNH 7.1172 CNY 7.1140 JPY 147.82 GBP 1.3510 CHF 0.7922 RUB 83.7433 TRY 41.3804 WTI$ 61.91 -0.59% Gold 3;742.60 -0.10% BTC 112,318 -0.48% ETH 4,191 +0.14%
S&P -0.08% Nasdaq +0.02% EuroStoxx +0.09% FTSE +0.13% Dax +0.35% SMI +0.21%
Macro :
- France Recognizes Palestine at UN Event Co-Led With Saudi Arabia
- US Re-Evaluating $2.3 Billion Loan for Nevada Lithium Mine
- China Stocks Seen as Most Preferred in EM, HSBC Survey Shows
- Dimon Says Hard for Fed to Cut Rates Until Inflation Cools: CNBC
- An $800 Billion Revenue Shortfall Threatens AI Future, Bain Says
- UK Boards Tempted by Foreign Stock Listings, Numis Poll Shows
Keep an eye on :
Keep an eye on :
- ABN NA : Belgian Lender KBC Is Said to Study Potential Deal for ABN Amro
- ACE SS : Ascelia Pharma Offers About SEK30 million Shares, Ascelia Pharma Offering of 8.57m Shares Prices at SEK3.50/Share
- AAL LN : Botswana Seeks De Beers Control as Anglo Divests, President Says
- ASM NA : ASM International Cuts 2H View on Softer-Than-Expected Demand
- BITTI FH : Bittium Targets 20–30% Average Annual Rev Growth in Long-Term
- BA US : Uzbekistan Joins Boeing Deal Frenzy As Leaders Meet In New York
- BA US : US-China ‘Huge’ Boeing Order Talks in Final Stage, Perdue Says
- LLY US : Celltrion to Acquire Eli Lilly Plant in US for $330m
- ERICB SS : Ericsson Close to Deciding on First-Ever Share Buybacks: EFN
- GSK LN : GSK to Submit Label Update for Wellcovorin at FDA’s Request
- 042700 KS : Korean Weight-Loss Drug Stocks Rise After Pfizer-Metsera Deal
- HEIA NA : Heineken Agrees to Buy Fifco's Beverage, Retail Businesses
- KVUE US : Kenvue Braces for Wave of New Lawsuits Over Tylenol’s Potential Link to Autism - WSJ
- AERO SW : Montana Aerospace Closes €300M Refinancing
- MB IM : Monte Paschi’s Mediobanca Takeover Offer Ends With 86.3% Stake
- NOEJ GY : ADS Buys Norma Unit NDS in Transaction Valued at About $1b
- NVDA US : Nvidia Rallies as Analysts Tout OpenAI Investment: Street Wrap
- NVDA US : Nvidia Rallies as Analysts Tout OpenAI Investment: Street Wrap
- ORSTED DC : Ørsted to restart work on US offshore wind farm after court ruling - FT
- ORSTED DC : --> 2 upgrades this morning Clarksons & Arctic Securities
- P911 GY : Porsche’s profit warnings pile pressure on Blume to give up dual CEO roles - FT
- PEAN SW : Peach Property Signs Deal to Extend EU203m Financing
- PEAN SW : Peach Property Signs Deal to Extend EU203m Financing
- SAN FP : Sanofi’s SAR446268 Earns US Fast Track Designation
- UBSG SW : UBS to Merge Green Property and Direct Urban Funds