Stocks in Asia and futures climbed Wednesday and Treasury yields stabilized after a sharp retreat as markets assessed the outlook for Federal Reserve monetary tightening. The dollar gained. An MSCI Inc. gauge of Asia-Pacific shares rose with most markets modestly in the green. US futures were higher after stocks fell overnight, with the Nasdaq 100 down more than 2% as Snap Inc.’s profit warning pummeled companies that rely on digital advertising. In China, the country’s strict Covid policy is outweighing broad measures to support growth and keeping investors wary. The nation’s central bank and banking regulator urged lenders to boost loans in the latest effort to shore up the battered economy. Treasuries steadied after a flight to havens sent yields lower, while traders dialed back the expected pace of Federal Reserve hikes. Money-market traders priced in about 135 basis points of rate increases over the central bank’s next three policy meetings, down from about 141 basis points at Monday’s close. Investors are fretting growth will slow dramatically amid tighter monetary conditions to taper surging inflation, the war in Ukraine and China’s lockdowns that are chocking supply chains. Sales of new US homes fell more than expected in April, and the Richmond Fed’s measure of business activity fell to a two-year low. The Fed minutes from its last meeting out Wednesday may provide some clarity. US After Hours WEN +19.9% jumps as Trian Fund to explore potential transactions; CAL +12.2%, JWN +11.2%, TOL +5%, A +3.4%, INTU +2.8% higher on earnings
Nikkei -0,03% Hang Seng +0,64% CSI +0,17% Shanghai +0,58% Shenzen +0,47%
Eur$ 1,0708 CNH 6,6735 CNY 6,6689 JPY 126,98 GBP 1,2541 CHF 0,9622 RUB 55,3573 TRY 16,1517 WTI$ 111,09 Gold 1862,20 XBT 30,050 +2% ETH 20021,7%
S&P +0,57% Nasdaq +0,87% EuroStoxx +0,99% FTSE +0,90% Dax +0,96% SMI
Macro :
- Hedge Funds Brace for $20 Billion of Redemptions, Citco Says
- Air France-KLM Sees Customers Switching From Private Jets (1)
- Bill Ackman Doubles Down on Call for Aggressive Fed Rate Hikes
Keep an eye on :
- AF FP : Air France-KLM Leads Charge in State Aid Refund Wave: ECM Watch
- AT1 GY : Aroundtown Maintains FY FFO I Forecast
- ASR IM : AS Roma Bid Put on Hold by Consob Amid Request for Information
- BON FP : Bonduelle in Talks to Sell 65% of Americas Long Life Unit
- BOO LN : Boohoo to Settle U.S. Fraud Case Over Deceptive Pricing Claims
- CAI AV : CA Immo 1Q Net Income EU136.9M Vs. EU41.4M Y/y
- CCL LN : Carnival in Talks to Sell Seabourn Brand, CNBC Says
- CNA LN : Centrica Seen Storming Into FTSE 100 With UK in Energy Crisis
- COFB BB : Cofinimmo Offices to Divest 3 Brussels Offices for About EU52M
- GLEN LN : Glencore Pleads Guilty to Decade of Bribery and Manipulation
- HEI GY : Heidelberg's Disruptive Green Targets to Set Prime Margin: React
- HOLN SW : Holcim Takes $5b Currency Hedge For Adani Deal, ET Says
- MAP SM : Mapfre Says Unicaja Ends Alliance; to Get ~EU130m by Stake Sale
- NDX1 GY : Nordex Cuts FY Revenue Forecast
- NRS NO : Norway Royal Salmon Sees FY Harvest 42,600 Metric Tons
- SGO FP : Saint-Gobain in Talks to Buy Fibroplac, Falper in Portugal
- P4F GY : Seadrill Sees 2022 Adjusted Ebitda $240-280m
- STLA IM : Stellantis, Samsung to Build $2.5 Billion Indiana Battery Plant
- TTE FP : TotalEnergies to Buy Stake in US Renewables Firm Clearway Energy
- UBI FP : Electronic Arts Extends Gains, Among Top S&P 500 Performers
- VLA FP : Valneva’s Chikungunya Vaccine Met Phase 3 Primary Endpoint
- VIE FP : Veolia Sells Part of French Industrial Water Treatment to Seche
- YPSN SW : Ypsomed FY Sales CHF464.8M Vs. CHF403.7M Y/y