U.S. equity futures and Asian stocks slid Thursday after Federal Reserve Chair Jerome Powell signaled a March interest-rate liftoff and stoked speculation about the possibility of unexpectedly aggressive policy tightening. An Asia-Pacific share gauge sank to the lowest in 14 months, with South Korea set for a bear market, China edging closer to one and Australia off 10% from an August peak. Contracts on the S&P 500, tech-heavy Nasdaq 100 and European stocks retreated. The Fed fallout erased a Wall Street rally Wednesday. Powell reinforced the Fed’s determination to quell the highest inflation in a generation amid a robust recovery from the pandemic. The central bank also said it expects to begin balance-sheet reduction after starting rate hikes. A key part of the yield curve was around the flattest since early 2019, hinting at concerns for growth as the Fed dials back economic support. Oil dipped, gold extended a decline and Bitcoin -- whose fortunes have been tightly correlated with stocks of late -- wavered around the $36,000 level. Markets ramped up pricing of Fed hikes, pointing to a 94% probability of five quarter percentage-point moves in 2022.
Meanwhile, the earnings season continues after an uneven start that also sapped investor sentiment. Shares in Samsung Electronics Co. -- South Korea’s biggest company -- fell after profit missed estimates. Electric-vehicle maker Tesla Inc. set a record for profit but warned of supply chain problems. Tech giant Intel Corp. fell on a disappointing forecast.
‘Policy Mistake’ US After Hours NOW +10%, XM +9.7%, LEVI +8%, STX +5.9%, LVS +2.6% higher on earnings; TER -17.7%, LC -12.1%, LRCX -6%, INTC -2.3% lower on earnings
Nikkei -3.11% Hang Seng -4.68% CSI -1.54% Shanghai -1.27% Shenzen -2.22%
Eur$ 1.1218 CNH 6.3545 CNY 6.3485 JPY 114.62 GBP 1.3434 CHF 0.9246 RUB 79.5788 TRY 13.6062 WTI$ 86.61 -0.85% Gold 1,815.05 -0.25% BTC 36,090 -0.80% ETH 2,400 -0.70%
S&P -1.32% NAsdaq -1.72% EuroStoxx -2.27% FTSE -1.73% Dax -2.05% SMI -1.61%
Macro :
- Bridgewater Sees ‘Much Bigger’ Drop in Stocks Before Fed Blinks
- China Is Said to Weigh Breaking Up Evergrande to Contain Crisis
- Bitcoin Drops as Fed Signal of March Liftoff Dents Risk Appetite
- Powell Says U.S. Labor Market Consistent With Maximum Employment
- JPMorgan’s Wolf Says U.S. Stock Selloff is Overdone
- U.S. Investor Bull-Bear Spread -29.8: AAII
Keep an eye on :
- ABN NA : Dutch Government to Resume Sale of Stake in ABN Amro: Kaag
- AIR FP : Airbus Says It Won’t Be Rushed Into Bringing Air-Taxi to Market
- AAF LN : Airtel Africa Joins FTSE 100 Index as Mining Giant BHP Drops Out
- AAPL US : Apple to Let IPhones Accept Payments With Just a Credit Card Tap
- BUCN SW : Bucher FY Sales Meets Estimates
- CABK SM : CaixaBank, Kutxabank Hire KPMG for Soured Assets Sales: El Confi
- DBK GY : Deutsche Bank Expects to Exceed 2022 Revenue Guidance
- DBK GY : Deutsche Bank to Return EU700M to Holders Via Buyback, Dividend
- DGE LN : Diageo 1H Adjusted Operating Profit Beats Estimates
- DUFN SW : Dufry Aims to Reach Climate Neutrality of Own Operations by 2025
- DWS GY : DWS, Hines JV Buys Singapore Logistics Asset; No Terms
- EZJ LN : EasyJet Says Performance is in Line With Expectations
- EDF FP : U.K. Injects Cash to Keep Sizewell Nuclear Plant Moving Forward
- ELIOR FP : Elior Group 1Q Revenue Beats Estimates
- ELISA FH : Elisa FY Dividend per Share Beats Estimates
- ELUXB SS : Electrolux to Take 4Q Charge $85M on Arbitration in Tariff Case
- GLPG NA : Galapagos Jumps After Naming Former J&J Science Chief as CEO
- G IM : Generali to Be Majority Shareholder in Its India Insurance JVs
- GIVN SW : Givaudan Buys 48% of Nanovetores From Brazil’s Criatec Fund
- GRNG SS : Granges 4Q Adjusted Operating Profit Beats Estimates
- INTRUM SS : Intrum 4Q Adjusted Ebit Beats Estimates
- LDO IM : Leonardo Is Said to Weigh Sale of Up To $400 Million Comms Unit
- 373220 KS : LG Energy : IPO +68% on First day : LG Energy Solution Surges After Korea’s Biggest IPO on Record
- LLBN SW : LLB Offers to Buy 100% of Bank Linth; Stock and Cash Options
- LHA GY : Lufthansa Bans Freight Through Frankfurt Hub Due to Omicron
- LHA GY : MSC’s Aponte Says ITA Deal Possible in Under 90 Days: Messaggero
- MRL SM : Merlin Board Ratifies Clemente as CEO, Ends Fight With Santander
- FB U : Meta-Backed Diem to Sell Its Assets to Silvergate Capital: DJ
- NFLX US : Pershing Square Has Bought Over 3.1M Netflix Shares, Ackman Says
- NDA SS : Nordea May Announce 10% ROE Goal Upgrade, New Share-Buyback Plan
- ORP FP : Orpea to Mandate Two Firms for Independent Assessment of Claims
- PHIA NA : FDA Labels New Philips Recall Class I, Most Serious Level
- PHIA NA : Philips Breathing Device Crisis Worsens With New FDA Warning
- RNK LN : Rank Group 1H Net Gaming Revenue GBP333.7M Vs. GBP177.6M Y/y
- SAB SM : Sabadell 4Q Net Income Beats Estimates
- 005930 KS : Samsung : Samsung 4Q Operating Profit Misses Estimates --> -2.46%
- SAP GY : SAP Confirms Preliminary 4Q Results, Outlook Released on Jan. 13
- SAP GY : SAP to Acquire Majority Stake in Taulia; No Terms Disclosed
- DIM FP : Sartorius Stedim Biotech Sees 2022 Revenue +14% to +18%
- SRT GY : Sartorius 2022 Adjusted Ebitda Margin Forecast Matches Estimates
- SEBA SS : SEB to Distribute SEK5b-10b Through Share Buybacks in 2022
- SGSN SW : SGS FY Revenue Meets Estimates
- SAE GY : Germany to Bill At Least 30k E-Scripts by End-March: Apotheker
- ENR GY : Siemens Energy Mulls Full Integration of Siemens Gamesa: Rtrs
- SPI AV : S Immo Holder Evax Requests Extraordinary General Meeting
- SOI FP : SOITEC 3Q Revenue Beats Estimates
- SOI FP : Soitec Says Incoming CEO Met With Executive Committee on Jan. 24
- SOW GY : Software AG 4Q Adjusted Ebita Beats Estimates
- STM FP : STMicroelectronics 1Q Net Revenue Forecast Beats Estimates
- S30 FP : Solutions 30 4Q Revenue EU220.3M Vs. EU240.5M Y/y
- SECARE SS : SwedenCare Offers 35.5m Shares via Pareto Securities, SEB,
- SPSN SW : Swiss Prime Site Immobilien Partnership With Superlab Suisse
- TIT IM : Telecom Italia Confirms Exploring Strategic Options for Network
- TELIA SS : Telia Starts Pilot With Polarium to Develop Energy Optimization
- UBSG SW : UBS Agrees to Buy Wealthfront for $1.4b in Cash: M&A Snapshot
- FR FP : Valeo Prelim FCF Misses Guidance on Chips, Supply Chains
- VBK GY : Verbio Shares Gain Post-Market After Guidance Increase