Most Asian stocks rose Tuesday after a record S&P 500 close as corporate earnings and progress on President Joe Biden’s economic agenda helped sentiment even as the debate over inflation risks intensified.
Equities rose in Japan and fluctuated in China and Hong Kong. Traders digested a video call between China’s Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen on economic issues. The Chinese side said the call was “pragmatic, candid and constructive.”
U.S. futures advanced, with Nasdaq 100 contracts outperforming. The tech-heavy gauge led U.S. gains overnight amid a Tesla Inc. rally to a $1 trillion market value. Facebook Inc. was higher in late trading on strong user growth and a pledge to buy back as much as $50 billion more in stock.
The 10-year U.S. Treasury yield edged up and the dollar was steady. The debate over price pressures continues, with former Treasury Secretary Lawrence Summers saying officials are unlikely to deal with “inflation reality” successfully until they fully recognize it.
In China, Modern Land China Co. became the latest builder to miss a payment on a dollar bond, in a further sign of stress in the nation’s real estate sector. Defaults from Chinese borrowers on offshore bonds have jumped to a record.
Meanwhile, U.S. Democrats stepped closer to an agreement on Biden’s multi-trillion dollar economic agenda. That could allow the House this week to pass a $550 billion infrastructure bill.
Crude oil was little changed around $84 a barrel as investors weighed the outlook for U.S. stockpiles and prospects for talks that may eventually help to revive an Iranian nuclear accord, allowing a pickup in crude exports.
Gold held above $1,800 an ounce and Bitcoin traded around $62,800.
US After Hours FB +2% higher on earnings; HSII +6.4%, CR +4.5%, TNET +4.2%, MEDP +4% also higher on earnings; TBI -5.1%, UHS -2.8%, CDNS -2.3% lower on earnings
Nikkei +1.91% Hang Seng -0.49% CSI -0.29% Shanghai -0.29% Shenzen -0.29%
Eur$ 1.1604 CNH 6.3795 CNY 6.3820 JPY 113.95 GBP 1.3761 CHF 0.9206 RUB 69.7196 TRY 9.5964 WTI$ 83.72 -0.06% Gold 1,805.75 -0.10% BTC 62,300 -0.40% ETH 4,200 +0.33%
S&P +0.20% Nasdaq +0.49% EuroStoxx -0.06% FTSE +0.05% Dax +0.17% SMI +0.37%
Macro :
- Bonds Are Set to Reap $5 Billion in Pension-Rebalance Shift
- Advent Is Said to Seek $25 Billion for Its Biggest-Ever Fund
- Base Metals Rally on Fresh Chinese Stimulus and Tight Supply
Keep an eye on :
- AED BB : Aedifica Buys U.K. Care Home for About GBP11.5m at 6.5% Yield
- AFRY SS : AFRY AB 3Q Operating Profit Misses Estimates
- ALFA SS : Alfa Laval 3Q Adjusted Ebita Beats Estimates
- ARBN SW : Arbonia Raises Target for Annual Dividend Hike to 15% From 2022
- ATS AV : AT&S CFO Simone Faath Steps Down for Personal Reasons
- ATMA LN : Atlas Mara Applies for Voluntary Delisting in London
- BESI NA : BE Semiconductor Sees 4Q Gross Margin 59% to 61%, Est. 59.8%
- BETSB SS : Betsson 3Q Operating Profit Beats Estimates
- BRAV SS : Bravida 3Q Net Sales SEK4.85B Vs. SEK4.75B Y/y
- BUCN SW : Bucher 9M Sales CHF2.36B Vs. CHF2.01B Y/y
- CA FP : Uber to Offer 15-Minute Groceries in France With Carrefour
- CEC GY : Ceconomy FY Sales EU21.36B Vs. EU20.83B Y/y
- DPW LN : UPS Margins May Be Constrained by Labor Costs: Preview
- DSV DC : DSV 3Q Revenue Beats Estimates
- ENG SM : Enagas 9M Net Income EU307.3M Vs. EU348.9M Y/y
- EVT GY : Evotec SE Prelim 9M Adjusted Ebitda EU68M to EU72M
- EO FP : Faurecia SE 3Q Revenue Misses Estimates
- GALP PL : Gas Spike Forced Galp to Post $430 Million in Margin Accounts
- IDIA SW : Idorsia 3Q Revenue Beats Estimates
- INWI SS : Inwido 3Q Ebita SEK275M Vs. SEK240.0M Y/y
- ITP FP : Interparfums Boosts FY Sales Forecast, Beats Estimates
- JUN3 GY : Jungheinrich Boosts FY Ebit Forecast
- KEMIRA FH : Kemira 3Q Oper Ebitda Beats Estimates
- KGX GY : Kion 3Q Adjusted Ebit Beats Estimates
- KPN NA : KPN Sees FY Adj. EBITDA AL About EU2.35B, Est. EU2.41B
- LOGN SW : Logitech 2Q Sales Beat Estimates
- LUN DC : Lundbeck Chairman Says Drug Pipeline Results Disappoint: Finans
- MDM FP : Maisons Du Monde 3Q Like-for-like Sales -3.1% Vs. +9.80% Y/y
- ML FP : Michelin 9M Revenue EU17.20B Vs. EU14.89B Y/y
- NEL NO : Nel Gets About $2.6m Contract for PEM Electrolyzer Equipment
- NENTB SS : NENT 3Q Viaplay Subscribers Beats Estimates
- NHY NO : Norsk Hydro 3Q Underlying Ebitda Beats Estimates
- NOVN SW : Novartis 3Q Core EPS Beats Estimates
- ORA FP : Orange 3Q Ebitda After Leases Meets Estimates
- PFV GY : Pfeiffer Vacuum Boosts FY Sales Forecast
- PGHN SW : Partners Group to Buy Minority Stake in Breitling; No Terms
- RESURS SS : Resurs Holding 3Q EPS SEK1.51
- SAMPO FH : Nordea’s Top Holder Sampo Speeds Up Exit With $2.1 Billion Sale
- SIGN SW : SIG Combibloc Maintains FY Adjusted Ebitda Margin 27% to 28%
- SPSN SW : Swiss Prime Site Expects Strong Results for 2021
- SY1 GY : Symrise Boosts FY Organic Revenue Forecast
- HO FP : Thales 3Q Organic Sales -1.4%
- TIETO FH : TietoEVRY 3Q Adjusted Operating Profit Beats Estimates
- UBSG SW : UBS Sees Lower Client Activity Levels in 4Q Compared With 3Q
- UBSG SW : UBS Weighs Changes to Elite Global Family Office in Profit Talks
- VIV FP : Vivendi Seeks Authorization to Buy as Much as 29.9% of Prisa
- WRT1V FH : Wartsila 3Q Ebit Beats Estimates
- XIOR BB : Xior Sees 2022 EPS Growth at Least 10% Y/y