Asian stocks fluctuated and U.S. futures ticked higher Thursday as traders assessed the economic rebound from the health crisis. Oil pared a rally sparked by shipping disruption after a container vessel blocked the Suez Canal.
Japan’s shares outperformed and China swung between gains and losses. Tencent Holdings Ltd. and Alibaba Group Holding Ltd. struggled after U.S. regulators revived threats to remove China’s largest corporations from their bourses. S&P 500 and Nasdaq 100 futures edged up after a rotation into cyclicals weighed on the tech gauge overnight. European contracts fell. The dollar was steady.
West Texas Intermediate crude fell back below $60 a barrel, having added more than 5% Wednesday. Tugs and diggers are trying to dislodge the ship that ran aground in this critical waterway for global trade.
Investors will be on the lookout for the seven-year Treasury auction in U.S. hours, as poor demand for this maturity at last month’s sale triggered a spike in yields. The 10-year benchmark rate crept higher in Asia trade.
Investors are mulling which sectors of the stock market are best-placed to benefit from faster growth, while monitoring the risks of higher inflation. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powellbalanced their positive assessments of the recovery with reminders that it still has a long way to go in a second day of Congressional testimony.
“The reflation trade will have further legs to run,” Lale Akoner, BNY Mellon Investment Management senior market strategist, said on Bloomberg TV. “We do see higher inflationary pressures building, higher interest rates and softer dollar to continue.”
Meanwhile, the U.S. Securities and Exchange Commission has started an inquiry into the blank-check acquisition frenzy, according to a report. And Bitcoin fell as much as 4.7%, to the lowest in about two weeks.
On the virus front, AstraZeneca Plc reported a slightly lower efficacy for its vaccine in a U.S. study. U.S. cases surpassed 30 million, according to data from Johns Hopkins University. Brazil surpassed 300,000 deaths from Covid-19, the second-most in the world.
US After Hours RH +8.6%, FUL +6%, JEF +4.8% up big on earnings; RAD -18% down sharply on weak guidance; KBH -4.3% lower on earnings
Nikkei +1.14% HAng Seng -0.21% CSI -0.21% Shanghai -0.22% Shenzen -0.12%
Eur$ 1.1819 CNH 6.5342 CNY 6.5351 JPY 108.97 GBP 1.3684 CHF 0.9359 RUB 76.4330 TRY 7.9309 WTI$ 60.01 -1.91% GOLD 1,735 BTC 53,000 -3200
S&P +0.22% Nasdaq +0.20% EuroStoxx -0.24% FTSE -0.13% Dax -0.17% SMI
Macro :
- Bitcoin Miners Are on a Path to Self-Destruction: Noah Smith
Macro :
- Bitcoin Miners Are on a Path to Self-Destruction: Noah Smith
- EU Deploys Region’s Largest VC Fund to Create Local Unicorns
Sapcs :
- Bill Gates-Backed Vicarious Said in Talks to Merge With D8 SPAC
Keep an eye on :
Keep an eye on :
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- ATA FP : Blast From the Past: Atari’s Comeback on NFT Mania in Peril
- AT1 GY : Aroundtown Sees 2021 FFO I EU340M to EU370M
- BYW6 GY : Baywa Sees 2021 Rev., Oper. Ebit Slightly Above Previous Year
- CABK SM : Caixabank, Bankia May Cut as Many as 8,000 Jobs: Cinco Dias
- CWC GY : Cewe Stiftung Sees 2021 Ebit EU72M to EU84M
- CNHI IM : Nikola Adds Citi as Underwriter in Filing for Possible Offering
- DWNI GY : Deutsche Wohnen Sees 2021 Adjusted Ebitda About EU700M
- DWS GY : DWS Sustainability Officer Let Go After Just Six Months in Role
- EVT GY : Evotec SE Sees 2021 Adjusted Ebitda EU105M to EU120M
- FSKRS FH : Fiskars Boosts 2021 Comparable Ebita Forecast
- FYB GY : Formycon Drug More Efficient Against Covid Variant in Tests
- GLPG NA : Galapagos COO Bart Filius Adds Title of President
- GLPG NA : Galapagos COO Bart Filius Adds Title of President
- HHFA GY : Hamburger Hafen Sees 2021 Ebit EU153M to EU178M
- HMB SS : TechCrunch: H&M removed from Chinese apps over Xinjiang cotton boycott https://t.co/8a4gzalXjJ by @ritacyliao
- HELN SW : Helvetia FY IFRS Net CHF281.7M Vs. CHF538.1M Y/y
- IBAB BB : Ion Beam FY Adjusted Ebit EU40.4M Vs. EU87,000 Y/y
- JEN GY : Jenoptik Sees 2021 Ebitda Margin 16% to 17%
- MTGB SS : Modern Times to Buy Mobile Gaming Firm Ninja Kiwi For ~$186m
- MTGB SS : MTG Offering of 9.66m Shares Prices at SEK112.9/Share
- PFV GY : Pfeiffer Vacuum FY Ebit EU45.3M Vs. EU65.2M Y/y
- SFQ GY : SAF-Holland SE Sees 2021 Sales EU1.05B to EU1.15B
- SANT GY : S&T Maintains 2021 Ebitda At Least EU140M, Est. EU151.5M
- SCR FP : Scor CEO Faces Market Manipulation Complaint in France: Covea
- SCR FP : Scor Says Covea Complaint Is ‘Misleading and Baseless Maneuver’
- G224 GY : Scout24 Sees 2021 Operating Ebitda Margin About 60%
- SENS SW : Sensirion Sees Mid-Term Ebitda Margin in Mid- to High-Tens
- SGL GY : SGL Sees 2021 Sales Revenue EU920M to EU970M
- SHL GY : Siemens Healthineers Raises EU2.34 Billion in Capital Increase
- SHL GY : Siemens Healthineers Raises EU2.34 Billion in Capital Increase
- S92 GY : SMA Solar FY Dividend Per Share EU0.30
- SWED SS : Swedbank’s Mortgage Payments Excluded in Stats Sweden Feb. Data
- SWON SW : SoftwareONE Sees 2021 Gross Profit Growth >10% at Constant FX
- UTDI GY : United Internet FY Dividend Per Share Misses Estimates
- VEI NO : Veidekke Sees Commercial Building Output Falling Until End 2022
- WAC GY : Wacker Neuson Sees 2021 Revenue EU1.70B to EU1.80B
- Z01 GY : Zooplus 4Q Ebitda Beats Estimates