US and European stock futures fell Wednesday while Asian stocks eked out small gains amid downbeat investor sentiment following mixed corporate earnings. Contracts for the Nasdaq 100 fell 0.8% after a slight decline in the underlying index on Tuesday, with a slowing sales outlook for Microsoft Corp.’s cloud-computing business setting the tone as Asian trading got underway. Futures for the S&P 500 and Euro Stoxx 50 benchmarks also dropped. Japanese stocks rose in concert with a drop in the yen while Australian shares erased morning gains after inflation accelerated to the fastest pace in 32 years. Data in New Zealand also showed consumer price growth holding near a three-decade high, giving traders reason to question global optimism that inflation is peaking. South Korea’s Kospi index surged more than 1% in a catchup move after Lunar New Year holidays. Hong Kong and mainland China markets remain closed. Treasuries broadly held their gains, while a gauge of dollar strength was slightly lower. Oil rose after a drop on Tuesday and gold inched lower after recent gains that pushed the precious metal to the highest level since April. Shares in Adani Group companies fell after US activist investor Hindenburg Research LLC said it was shorting the empire’s stocks and accused firms owned by Asia’s richest man of market manipulation and accounting fraud. The news from Microsoft typified the cautious outlook for corporate profits. The software giant beat earnings estimates, initially sending its shares soaring in after-hours trade before the gains were quickly undone by the warning for its cloud-computing business. Homebuilder D.R. Horton Inc. also beat projections, while 3M Co., the maker of Post-it notes, forecast profit that trailed estimates and Texas Instruments Inc., one of the world’s largest chipmakers, suffered its first sales decline since 2020. Bitcoin fell as much as 2.5% and faced its first two-day drop this year after Microsoft’s outlook dented investor confidence in the cryptocurrency. US After Hours MSFT -1.1% initially traded higher following earnings, but guidance on call a bit light; ISRG -9.5%, FFIV -4.3% also lower on earnings; FOXA +5.9% as Murdoch withdraws proposal for NWS-FOX merger.
Nikkei +0.35% Hang Seng Closed CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.0906 CNH 6.7712 CNY Closed JPY 130.35 GBP 1.2334 CHF 0.9223 RUB 68.9925 TRY 18.8030 WTI$ 80.34 Gold 1,933 BTC 22,724 -0,80% ETH 1,553 -2,81%
S&P -0,20% Nasdaq -0,34% EuroStoxx -0,16% FTSE -0,02% Dax -0,16% SMI -0,25%
Macro :
- US and Germany Set to Give Ukraine Tanks, Breaking Impasse
- Gloomier UK economy growth prospects leave Jeremy Hunt with black hole in budget
- Handelsbanken Warns of More Pain Ahead for Swedish Households
Keep an eye on :
- ALO FP : Alstom 3Q Sales Beats Estimates
- ARJOB SS : Arjo 4Q Adj. Ebitda Meets Estimates; Realigns US Operations
- ASML NA : ASML 1Q Net Sales Forecast Beats Estimates
- ATO FP : Atos in Exclusive Talks With Mitel for Sale of Unify Business
- BARC LN : Barclays Names Wright, Deasy as Investment Banking Co-Heads
- BATS LN : British American Tobacco Seeks Stay of Enforcement on FDA Ruling
- BNP FP : BNP Paribas Says it Will Cut Loans for Oil Extraction by 80%
- BORR NO : Borr Drilling Prelim 4Q Adjusted Ebitda $50M to $60M
- CAV1V FH : Caverion Says Bain-Led Group Boosts Offer Amid Rival Bid
- EDF FP : France Won’t Force Sale of EDF Minority Shares Until Court Rules
- EGTW SS : Egetis Therapeutics Offers SEK200 million Shares
- EMMN SW : Emmi FY Sales Meets Estimates
- ENEL IM : Enel Debt-Shedding Plan Crimps Growth Scope, Leans on Supply
- FRA GY : Berlin Airport Cancels All Flights on Wednesday Amid Wage Strike
- GAM SW : Asset Manager GAM Postpones Annual Results, Set to Post Loss
- GIVN SW : Givaudan FY Ebitda Misses Estimates
- GJF NO : Gjensidige 4Q Pretax Profit Misses Estimates
- GRE SM : Grenergy Confirms Minority Stake Sale Process for 1.1 GWp
- IWS NO : Integrated Wind Solutions Offering of 10.6m Shares Prices
- IVG IM : Iveco Bus in Pact to Sell up to 500 Electric Buses in Belgium
- JUN3 GY : Jungheinrich to Buy Storage Solutions for About $375M
- LAND SW : Landis + Gyr Sees 2022 Net Revenue +6% to +10%
- LONN SW : Lonza FY Core Ebitda Beats Estimates
- Lottomatica IPO : Lottomatica Says It’s Mulling Potential Listing
- MC FP : Luxury firm LVMH cancels plan for centre at top French university
- NETC DC : Netcompany Sees 2023 Sales at Constant FX +8% to +12%
- PGHN SW : Partners Names Apollo’s Kawai as New Japan Country Head
- RIEN SW : Rieter FY Sales Beats Estimates
- RIEN SW : Rieter Holding Appoints Thomas Oetterli as CEO
- SAP GY : Watch European Software Stocks as Microsoft Flags Slowing Sales
- SONG LN : Bieber Sells Catalog to Blackstone-Backed Hipgnosis (Correct)
- TEF SM : Telefónica to Raise Salaries for Spanish Staff by 7.8% in 2023
- VK FP : Vallourec Gets L-T Pact With Petrobras to Supply OCTG Solutions