Stocks and US equity futures slipped Monday, sapped by a dimming economic outlook that’s also cooling expectations for peak interest rates and bolstering sovereign bonds. Asian equities fell amid declines in Japan as well as in Chinese technology shares. S&P 500, Nasdaq 100 and European contracts were in the red. China’s property shares bucked the prevailing trend, pushing higher amid a report that officials plan a fund to support struggling developers. The nation’s real-estate crisis is among the major fault-lines for the world economy. Australian debt jumped in the slipstream of a Treasuries rally Friday. The US 10-year yield was at about 2.77%, paring a sliver of last week’s drop. Investors have shifted to betting that ebbing economic expansion, and possibly even a recession, will moderate high inflation and soften the current cycle of monetary tightening that’s roiled global markets in 2022. A dollar gauge fluctuated, oil slid to around $94 a barrel and Bitcoinweakened below $22,000, reflecting the cautious mood across assets. The Federal Reserve policy decision this week, along with earnings from the likes of Google’s Alphabet Inc. and technology titan Apple Inc., will help to clarify the outlook for a one-month-old rebound in stocks from 2022’s selloff. Retreating business activity and mixed earnings performance from major firms left US shares in the red on Friday. Treasury Secretary Janet Yellen said she doesn’t see any sign that the US is in a broad recession. Former Treasury Secretary Lawrence Summers said a soft landing is highly unlikely. wheat climbed as commodity markets digested a Russian missile strike on Odesa’s sea port that threatened to test a fledgling agreement to unblock Ukrainian grain exports from the Black Sea.
Nikkei -0.75% Hang Seng -0.75% CSI -0.82% Shanghai -0.71% Shenzen -0.97%
Eur$ 1.0205 CNH 6.7590 CNY 6.7557 JPY 136.20 GBP 1.1983 CHF 0.9631 RUB 58.1790 TRY 17.7747 WTI$ 94.03 -0.71% Gold 1,726.60 -0.06% BTC 21,800 -4% ETH 1,512.17 -6%
S&P -0.10% Nasdaq -0.09% EuroStoxx -0.64% FTSE -0.50%
Macro :
- Pre-Fed Jitters Send Bitcoin Back Into Sub-$22,000 Trading Range
- Goldman Strategists Say European Earnings Are Below Expectations
- Biggest Oil Stock ETF Sees Short Sellers Unwind Bets After Rout
- French Lawmakers Reject Windfall Tax Profit in Close Vote
- WHO Chief Overrules Panel to Call Monkeypox Global Emergency
- China May Use Tiered-Data Strategy to Prevent US Delistings: FT
Keep an eye on :
- AIR FP : Boeing Defense Workers Reject Contract, Plan to Strike Aug. 1
- AOF GY : Atoss Software Maintains FY Sales Forecast, Meets Estimates
- BAS GY : Austria to Tap Gas Storage Tank Key to German Supply, SZ Says
- BAVA DC : Bavarian’s Vaccine Gets Monkeypox Label Approved in Europe
- BELLE SS : Vinted Offers to Buy Rebelle for SEK14.10 in Cash Per Share
- BOBNN SW : Bobst Group Public Tender Offer by Largest Holder JBF Finance
- DE US : Gates Transfers 3.02m Deere Shares to Foundation From Cascade
- DTE GY : T-Mobile US in $500m Pact to Settle Suit Over Cyberattack
- ENX FP : Euronext Says Saturn Will Be Unavailable for Remainder of Day
- EOA FP : Forvia Confirms FY Guidance, Says Hella Integration on Track
- FILA IM : Fila Says Group’s Debt Is in Renegotiation Process
- GALP PL : Galp, TAP Set Up Partnership for Sustainable Aviation Fuel
- GALP PL : Galp 2Q Adjusted Net Beats Estimates
- GET FP : France Blocks Efforts to Increase Eurostar Services: Telegraph
- ICAD FP : ICADE 1H Group Net Current Cash Flow per Share Beats Estimates
- BAER SW : Julius Baer 1H Operating Income Misses Estimates
- ORA FP : Orange, Masmovil Sign Binding Deal to Combine Spain Operations
- ETL FP : UK Satellite Operator OneWeb Said to Near Merger With Eutelsat
- KNIN SW : Kuehne + Nagel 1H Ebit CHF2.20B
- MC FP : Luxury Goods Balance-Sheet Strength Offers Spending-Spree Scope
- PHIA NA : Philips Cuts FY Comparable Sales Forecast
- POM FP : Plastic Omnium 1H Ebitda EU414M Vs. EU461M Y/y
- RYA ID : Ryanair 1Q Profit After Tax Beats Estimates
- SHA GY : Schaeffler to Buy Ewellix for About EU582m
- SHEL LN : Shell Is Said to Seek Sale of Controversial UK Oil Field Cambo
- TFI FP : TF1 Acquires Rights to French Team Football Matches Through 2028
- TFI FP : BinDawood Unit to Acquire Majority Stake in TF1 Unit Ykone
- UBI FP : Ubisoft Pushes Back Next Assassin’s Creed Title in Another Delay
- UCG IM : Banco BPM to UniCredit's 2Q Pits Sovereign Risks vs. NII Upside
- VOW GY : VW’s Diess to Leave in Sudden Exit; Porsche’s Blume Steps In
- VOW GY : VW’s Billionaire Clan Plotted CEO Ouster While He Was on US Trip
- VOW GY : VW Taps Porsche’s Team-Playing Modernizer to Amp Up Tesla Chase