An Asian stock index and US equity futures declined Wednesday as investors assessed the likely pace of further Federal Reserve monetary tightening and mounting signs of an economic slowdown. The region-wide equity bourse shed about 0.5%, paced by slides in China and Hong Kong, where developer Logan Group Co. plunged -- a careening stock price that again highlights the property crisis dragging on China’s economy. The slump fed into wider risk aversion that saw S&P 500, Nasdaq 100 and European futures drop. Risk-sensitive currencies such as those in Australia and New Zealand slid. The 10-year Treasury yield held above 3%. Bitcoin wavered. The latest data showed economic activity weakening from the US to Europe and Asia, underlining the delicate task the Fed faces in hiking interest rates to bring down high inflation without sparking a recession. Investors will pour over Fed Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday for a sense of how hawkish the US central bank will be in the face of mounting economic challenges. A global rebound in equities from a June low has stalled ahead of the much-anticipated event. crude oil held gains above $93 a barrel, bolstered by shrinking US crude stockpiles and possible OPEC+ output cuts. US After Hours LZB +7.6%, INTU +5.5% higher on earnings; JWN -13.8%, AAP -6.4%, CAL -3.2% fall on earnings; TTCF +15% gets boost on WMT deal
Nikkei -0.46% Hang Seng -1.23% CSI -1.15% Shanghai -1.26% Shenzen -2.25%
Eur$ 0.9951 CNH 6.8752 CNY 6.8619 JPY 136.59 GBP 1.1816 CHF 0.9652 RUB 59.8077 TRY 18.1276 WIT$ 93.60 -0.14% Gold 1,747 -0.07% BTC 21,485 +0.04% ETH 1,643 -0.24%
S&P -0.11% Nasdaq -0.09% EuroStoxx -0.19% FTSE +0.03% Dax -0.36% SMI
Macro :
- ConvaTec, F&C Indicated to Join FTSE 100; Abrdn, Hikma to Leave
- Julian Robertson, Hedge-Fund Guru to ‘Tiger Cubs,’ Dies at 90
- Goldman Says Hedge Funds Back Betting Big on Megacap Tech Stocks
Keep an eye on :
- AGFB BB : Agfa-Gevaert 2Q Revenue Beats Estimates
- ALLN SW : Allreal 1H Net Income CHF81.8M Vs. CHF79.1M Y/y
- ASRNL NA : ASR Nederland 1H Operating Profit Beats Estimates
- AZN LN : AstraZeneca CEO Warns US Pricing Rules Will Delay New Drugs
- AUSS NO : Austevoll Seafood 2Q Revenue Beats Estimates
- BAVA DC : Bavarian Nordic 2Q Revenue Misses Estimates
- BCART BB : Biocartis Gets ISO 27001 Certification for Idylla Platform
- ACA FP : ECB Confirms EU4.765 Million Sanctions on Crédit Agricole
- EVD GY : CTS Eventim 1H Normalized Ebitda Beats Estimates
- DAE SW : Daetwyler Sees FY Ebit Margin 13% to 16%
- LSG NO : Leroy 2Q Revenue Beats Estimates
- LLBN SW : Liechtensteinische LB 1H Net Income CHF75.9M Vs. CHF71.1M Y/y
- MEKO SS : MEKO AB 2Q Ebit SEK185M Vs. SEK280M Y/y
- MOWI NO : Mowi Sees 3Q Harvest 131,000 Metric Tons
- NHY NO : *GERMAN ALUMINUM SMELTER CONSIDERS HALVING OUTPUT ON ENERGY COST
- ORRON SS : Orron’s Offer for Slitevind Has 91% Initial Acceptance Level
- QRF BB : Qrf Renegotiates Lease With Inno Hasselt as of Aug. 2023
- RLF SW : Relief Seeks Secondary Listing on Nasdaq
- REP SM : Peru Court Accepts $4.5b Lawsuit Against Repsol for Oil Spill
- CFR SW : Richemont to Take Non-Cash Charge of About 2.7B Euros on YNAP
- RPS LN : RPS Shares Rise Above WSP Offer After Betaville ‘Uncooked Alert’
- SENS SW : Sensirion Sees FY Revenue CHF310M to CHF340M, Est. CHF338.4M
- UN01 GY : Uniper, Ex-Gazprom Unit Seek 92% of German Gas Levy Relief
- VIMIAN SS : Vimian 2Q Revenue EU67M
- VIV FP : Vivendi Wants to Stay in Italy as Long-Term Investor, CEO Says