US equity-index futures inched higher in Asian trading after signs of fatigue in the AI-driven rally caused two days of declines on Wall Street.
Contracts for the S&P 500 and the Nasdaq 100 indexes rose 0.2% in a sign the rally may resume after the brief pause. Asian shares made a modest 0.2% gain while stocks in Hong Kong edged up as the city returned to normalcy after Super Typhoon Ragasa. Copper remained near the highest in more than a year after Freeport-McMoRan Inc. declared force majeure on contracted supplies from its Grasberg mine in Indonesia. The dollar edged lower while oil dipped following its biggest jump since July. Treasuries gained slightly, with the yield on the 10-year falling one basis point to 4.13%. In Japan, a 40-year government bond auction drew a demand ratio that was stronger than its 12-month average. Traders have flocked to Nvidia Corp. and Alibaba Group Holding Ltd. as the firms pour billions into artificial intelligence, a theme that has powered gains in US and Chinese stocks this year. That rally now faces a test with Friday’s US personal consumption expenditures report, as traders look for clues on how the inflation reading could shape the path of interest rates. While the S&P 500 has defied September’s gloomy reputation as the worst month for equity returns, the gauge failed to gain traction on Wednesday, sparking concerns the rally has hit an air pocket. Policy risks also weighed on markets. The administration launched investigations into imports of robotics, industrial machinery and medical devices, a sign President Donald Trump may expand his tariff regime. South Korea’s prime minister warned that major investment projects in the US will stall until visa issues are resolved, urging Washington to reassure Koreans worried about detentions. Federal Reserve Bank of San Francisco President Mary Daly says further interest-rate cuts are likely needed, but the Fed should approach those with caution. The dollar slipped against all Group-of-10 peers. Federal Reserve Bank of San Francisco President Mary Daly said further interest-rate cuts are likely needed, but the US central bank should approach those with caution. A key focus for investors this week will be the Fed’s preferred gauge of underlying inflation. The reading 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%. Meanwhile, the Japanese bond auction demand eased concerns about super-long debt despite domestic political uncertainties ahead of Japan’s ruling party leadership race. Yields have recently touched multi-year highs as the Bank of Japan pares back its massive bond purchases, on top of mounting fiscal concerns ahead of the leadership election set for Oct. 4. US After Hours KBH +0.2% ticks higher on earnings; IMRX +39% sharply higher on phase 2a trail results; WS -3% and FUL -2.1% lower on earnings.
Nikkei +0.21% Hang Seng -0.05% CSI +0.71% Shanghai +0.04% Shenzen +0.35%
Eur$ 1.1746 CNH 7.1294 CNY 7.1231 JPY 148.68 GBP 1.3458 CHF 0.7950 RUB 83.5770 TRY 41.4709 WTI$ 64.68 -0.48% Gold 3,36 -0.01% BTC 111,834 -1.53% ETH 4,017 -3.59%
S&P +0.06% Nasdaq +0.02% EuroStoxx -0.04% FTSE -0.21% Dax +0.07% SMI -0.10
Macro :
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- Trump Tariffs Losing in Court May Hurt Stocks: Vital Knowledge
- Zuckerberg and Altman get closer to Trump after Musk fallout
- US Plans to Use Emergency Powers to Stop Coal Closures
- The billionaire politician making a Trump-like comeback in the Czech Republic
Keep an eye on :
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- BT/A LN : BT Placed on Negative Catalyst Watch at Citi, 2Q a ‘Risk Event’
- CAN LN : Canal+ Intends to Start New Share Buyback for up to £31m
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- CVC NA : *SPANISH COURT OPENS FISCAL PROBE INTO CVC: EL CONFIDENCIAL
- AM FP : Dassault Says It Can Fly Solo Amid Next-Gen Warplane Tussle
- DEME BB : DEME Group JV Gets Contract for Offshore Wind Farm in Taiwan
- DIS US : Nexstar Says Engaged in Discussions With Disney Over Kimmel: NYT
- DNO NO : Watch Gulf Keystone, Genel and DNO as Oil Exports Could Resume
- ENI IM : ENI Completes Sale to Vitol of 30% Stake in Baleine Project
- FAGR BB : Fagron to Buy UCP for Enterprise Value of About $41.5M
- GENL LN : Watch Gulf Keystone, Genel and DNO as Oil Exports Could Resume
- GKP LN : Watch Gulf Keystone, Genel and DNO as Oil Exports Could Resume
- HNSA SS : Hansa Biopharma’s US Phase 3 Imlifidase Trial Meets Key Endpoint
- HTZ US : Hertz Shares Jump on $250m Exchangeable Notes Offering --> +17% In After Hours
- IMRX US : Immuneering Announces Extraordinary 86% Overall Survival at 9 Mos in First-Line Pancreatic Cancer Patients Treated With Atebime,
- IMRX US : Sanofi Agreed to Buy 2.7M Shares at $9.23 Each in Separate Private Placement
- IMRX US : Immuneering Offers Shares, Concurrent Placement to Sanofi --> +40% In After Hours
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- MBX US : MBX Biosciences Offering of 11.1m Shares Prices at $18/Share
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- Medline IPO : Medline Said to Weigh $5 Billion IPO Filing as Soon as October
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- NOAP NO : Nordic Aqua Agrees Terms for Funding of China Land-Based Salmon
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- QDT FP : Quadient 1H Current Operating Income EU60M
- QDT FP : Quadient 1H Current Operating Income EU60M
- QURE US : Uniqure Said to Market $200 Million Stock Sale for One Day
- SAN FP : Paris Court Orders Sanofi to Pay €151M to State Over Plavix
- SAN FP : Sanofi Agreed to Buy 2.7M Shares of IMRX at $9.23 Each in Separate Private Placement
- SAN FP : Immuneering Offers Shares, Concurrent Placement to Sanofi
- SANN SW : Santhera Sets Conversion Price of CHF13.54 on Convertible Bond
- SSPG LN : Irenic Capital Trying to Encourage Takeover Interest in SSP: FT
- 8766 JP : OpenAI, Tokio Marine Partner to Develop AI Agents: Nikkei
- RIG US : Transocean Offering of 125m Shares Prices at $3.05/Share
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- VOW GY : Europe Car Sales Keep Rising as EVs and Hybrids Lure Consumers
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