US equity futures rallied Wednesday after resilient earnings from Google parent Alphabet Inc. and an upbeat outlook from Microsoft Corp. helped alleviate some of the wider caution in markets. Contracts on the tech-heavy Nasdaq 100 added over 1%, while S&P 500 futures were up more than 0.5%. Microsoft jumped in extended trading on a strong sales forecast, while Alphabet’s revenues assuaged investors’ worst fears. Still, the mood remains edgy ahead of a much-anticipated Federal Reserve interest-rate increase -- part of a global wave of monetary tightening to quell inflation that’s stoking concerns about a worldwide economic slowdown.
Asian shares retreated amid falls in Hong Kong, tracking a close in the red for US stocks Tuesday before earnings lifted spirits after the bell. Australia’s bond yields and currency declined on lower than expected inflation. Treasury yields were little changed as traders brace for a widely telegraphed 75 basis-point Fed hike later Wednesday. The dollar dipped, oil was around $95 a barrel and Bitcoinpeeked above $21,000. he projected Fed move to tackle price pressures would cement a combined 150 basis points increase over June and July -- the steepest rise in rates since the 1980s, when then chairman Paul Volcker wrestled with sky-high inflation. Monetary tightening, Europe’s energy woes amid Russia’s invasion of Ukraine and China’s property sector and Covid challenges are among the risks darkening the global outlook. The International Monetary Fund warned the world economy may soon be on the cusp of an outright recession.
US company earnings are providing a sliver of hope -- more than three-quarters of firms that have reported so far either beat or met expectations. But there are doubts about how long they can weather economic challenges. President Joe Biden will speak with Chinese leader Xi Jinping on Thursday amid fresh tensions over Taiwan. The White House is also considering whether to lift some tariffs on Chinese imports to stem inflation.
Nikkei +0,11% Hang Seng -1,54% CSI -0,46% Shanghai -0,12% Shenzen +0,10%
Eur$ 1.0149 CNH 6,7651 CNY 6,7645 JPY 136,94 GBP 1,2054 CHF 0,9617 RUB 60,15 TRY 17,9746 WTI$ 95,19 GOld 1,715,59 BTC 21,212 +&% ETH 1,445,62 +4%
S&P +0,89 Nasdaq +1,45% EuroStoxx +0,17% FTSE +0,32% Dax +0,36% SMI
Macro :
- Biden Will Speak to Xi on Thursday as US-China Ties Worsen
- Wuhan Locks Down 1 Million Residents in Echo of Pandemic’s Start
Keep an eye on :
- ADS GY : Adidas Sees FY Net Income From Continuing Ops EU1.3B
- AENA SM : Aena 1H Net Income Misses Estimates
- AA US : Alcoa Nederland Holding Raised to Investment Grade by Moody’s
- ATO FP : Atos 1H Net Loss EU503M, Est. Loss EU117.7M
- ATO FP : Atos Secures 1.5 Billion Euros to Finance Split Plan
- AUTN SW : Autoneum 1H Sales Beats Estimates
- BAS GY : BASF Boosts FY Sales Forecast, Beats Estimates
- EN FP : Bouygues: FCA Investigators Issue Report on TF1 & M6 Deal
- CSGN SW : Credit Suisse Set to Name Ulrich Koerner as Chief Executive: FT
- BN FP : Danone Boosts FY Like-for-Like Sales Forecast
- DBK GY : Deutsche Bank Cuts FY Investment Bank Revenue Goal
- DB1 GY : Deutsche Boerse 2Q Ebitda Beats Estimates
- EOM B C : Econocom Sees FY Organic Revenue +5%
- ELIA BB : Elia Group 1H EPS EU2.29 Vs. EU1.82 Y/y
- ELIOR FP : Elior Group Sees FY Organic Revenue at Least +16%
- ENG SM : Enagas 1H Revenue EU478.2M Vs. EU480.6M Y/y
- ENG SM : Zara’s Amancio Ortega Buys 5% Stake in Enagas’s Renewable Unit
- RF FP : Eurazeo SE 1H NAV/Shr EU115.50 Vs. EU117.80 H/H
- ERF FP : Eurofins Scientific Boosts FY Adjusted Ebitda View, Beats Est.
- FCT IM : Fincantieri 1H Revenue Meets Estimatesµ
- HOLN SW : Holcim 2Q Sales Beats Estimates
- OIG IM : Italgas Unit in Pact With Energetica for Energie Rete Stake
- MT PL : J. Martins 1H Net Income EU261M Vs. EU186M Y/y
- KAMBI SS : Kambi 2Q Revenue Misses Estimates
- LI FP : Klepierre 1H Net Rental Income Beats Estimates
- KCR FH : Konecranes 2Q Adj. Ebita, Net Sales Miss Ests; Orders Grow (1)
- KPN NA : KPN Sees FY Adj. EBITDA AL Above EU2.40B, Saw About EU2.40B
- MMT FP : Lagardere 1H Revenue EU3.03B Vs. EU2.08B Y/y
- MC FP : LVMH 2Q Beat in Fashion, Wines & Spirits Impresses: Street Wrap
- LHA GY : Lufthansa Passengers Face Day of Turmoil as Ground Staff Strike
- LHA GY : ITA Airways Board May Call For EU400m Cash Injection: MF
- MELE BB : Melexis Boosts FY Revenue Forecast
- MEL SM :Melia Hotels 1H Net Income EU3.74M Vs. Loss EU156.1M Y/y
- MBG GY : Mercedes Boosts FY Cars Adjusted Return on Sales Forecast
- MMT FP : M6 1H Revenue Meets Estimates
- ML FP : Michelin Can Rejig European Plants to Use Oil, Coal, CEO Says
- NESTE FH : Neste to Acquire Walco Foods to Boost Raw Material Sourcing
- NEX FP : Nexans FY Ebitda Forecast Beats Estimates
- NYR BB : Belgian Court to Rule on Trafigura, Nyrstar Case in Its Totality
- PYPL US : Activist Elliott Management Holds Stake in PayPal -- WSJ
- QIA GY : Qiagen Boosts FY Adjusted EPS Forecast
- RAND NA : Great Resignation Is Slowing Amid High Inflation, Randstad Says
- RED SM : Red Electrica 2Q Net Income EU180.9M Vs. EU177.1M Y/y
- ROVI SM : Rovi 1H Net Income Beats Estimates
- SANOMA FH : Sanoma 2Q EPS Misses Estimates
- SOW GY : Software AG 2Q Adjusted Ebita Beats Estimates
- TKTT FP : Tarkett 1H Adjusted Ebitda EU126.2M Vs. EU112.7M Y/y
- O2D GY : Telefonica Deutschland 2Q Mobile Service Revenue Meets Estimates
- UNI SM ; Unicaja 2Q Net Income Beats Estimates
_ UCG IM ; UniCredit 2Q Net Income Beats Estimates
- UCG IM : UniCredit Agrees to Sell 49% of CNP Vita Assicura for EU500m
- UPONOE FH : Uponor 2Q Operating Profit Misses Estimates
- FR FP : Valeo 1H Ebitda Beats Estimates
- VK FP : Vallourec Sees FY Ebitda EU650M to EU750M, Est. EU662.1M
- VPK NA : Vopak 2Q Revenue EU338.0M Vs. EU303.1M Y/y
- VOW3 GY : Porsche IPO Draws Scrutiny Over New Role for Top Boss: ECM Watch
- WIZZ LN : Wizz Air 1Q Net Loss EU452.5M, Est. Loss EU459.8M
- WLN FP : Worldline 1H OMDA Beats Estimates