Stocks were mixed Wednesday and Treasury yields declined as traders weighed economic risks from tighter monetary policy while awaiting key U.S. data as well as the latest Federal Reserve minutes.
MSCI Inc.’s Asia-Pacific share gauge fell for a third day, sapped by Japan. U.S. futures fluctuated and European contracts rose. Energy and financials helped the S&P 500 eke out a gain overnight, while the Nasdaq 100 extended a drop. A slew of reports are due later on U.S. economic activity and the cost of living.
A climb in Treasuries unwound much of their overnight slide. The prospect of the Fed reducing stimulus more quickly to fight price pressures has tempered bond market inflation expectations, though they remain historically elevated.
New Zealand’s currency sank after the nation raised interest rates to 0.75% to curb price pressures, a smaller move than some had expected. The central bank projected 2% benchmark borrowing costs by the end of 2022.
One key topic for the minutes would be “discussions around the criteria for a quicker taper of asset purchases,” Carol Kong, a strategist at Commonwealth Bank of Australia, wrote in a note. Inflation trends suggest the Fed needs to start tightening sooner that presently signaled, Kong added.
Oil gained as a planned coordinated release of strategic reserves by the U.S. and other nations fell short of expectations. Gold gained slightly but remains under pressure from higher yields.
US After Hours: JWN -23.4%, GPS -17.2%, ADSK -13.5% lower on earnings; PSTG +13.7%, HPQ +7.9%, NTNX +4.1%, GES +3.9% higher on earnings.
Nikkei -1.58% Hang Seng +0.47% CSI +0.06% Shanghai +0.09% Shenzen -0.02%
Eur$ 1.1247 CNH 6.3869 VNY 6.3873 JPY 114.90 GBP 1.3387 CHF 0.9330 RUB 74.5056 TRY 13.08 WTI$ 79.07 Gold 1795.45 BTC 56,630 -1.85% ETH 4290 -1.40%
S&P +0.02% Nasdaq +0.21% EuroStoxx +0.27% FTSE +0.20% Dax +0.27% SMI +0.06%
Macro :
- Italy Vetoes Third Chinese Takeover This Year: Reuters
Macro :
- Italy Vetoes Third Chinese Takeover This Year: Reuters
- EU Plans New Covid Travel Recommendations for the Bloc: Politico
- Crypto Group ConstitutionDAO to Shut After Loss to Ken Griffin
Keep an eye on :
Keep an eye on :
- ADDTB SS : Nasdaq Adds Cint, Addtech, CTEK to OMX Stockholm Benchmark Index
- AMS SM : Booking in Pact With CVC to Buy Etraveli for About EU1.63b
- AT1 GY : Aroundtown 9M Adjusted Ebitda EU716.2M Vs. EU722.5M Y/y
- AUTO NO ; Autostore 3Q Adjusted Ebitda $42.3M
- CA FP : Carrefour Opens Paris Store With Sensors, Cameras to Boost Speed
- CENER BB : Cenergy’s Corinth Pipeworks Awarded EU47m Contract in Poland
- CINT SS : Nasdaq Adds Cint, Addtech, CTEK to OMX Stockholm Benchmark Index
- CTEK SS : Nasdaq Adds Cint, Addtech, CTEK to OMX Stockholm Benchmark Index
- DPH LN : FTSE 100 Expected to Include Dechra Pharma, Electrocomponents
- DTE GY : FCC Reaches $19.5M Settlement of T-Mobile 911 Outage Probe
- DRW3 GY : Dräger Sees 2022 Net Sales Volume Around EU3 Bln to 3.1 Bln
- ECM LN : FTSE 100 Expected to Include Dechra Pharma, Electrocomponents
- ELIOR FP : Elior Group Sees 2022 Organic Revenue At Least +18%
- GJF NO : Gjensidige Targets Return on Equity After Tax >19% for 2022-2025
- GREENM DC : Nasdaq Adds GreenMobility to OMX Copenhagen Benchmark Index
- HUDL NO : Huddlestock Says German Unit Head Didn’t Meet Target, Steps Down
- KYGAD ID : Kerry Group Holder Offers 2.8m Shares at EU108.15-110/Share
- KID NO : Kid Says Dividend Payment Delayed Due to Technical Difficulties
- NLFSK DC : Nilfisk Raises FY Organic Revenue Forecast
- NDA SS ; Nordea Staff in Denmark Urged to Carry Covid Passport at Office
- RNO FP : Renault Backs Takeover of One French Supplier, Rejects Another
- RNO FP : Renault Backs Takeover of One French Supplier, Rejects Another
- SGRE SM : Siemens Gamesa to Supply Wind Turbines for Project in Finland
- TRELB SS : Trelleborg Targets EV Tire Sales With ‘Significant’ Spend Plan
- PU11 GY : Social Chain Offers Up to 1.15m Shares
- TIT IM : KKR Said to Weigh Raising Telecom Italia Bid to Win Over Vivendi
- VLA FP : *Valneva Signed Advance Purchase Agreement With EC to Supply Up to 60 Million Doses of Inactivated COVID19 Vaccine Candidate Ove