Stocks extended a climb Monday, bolstered by the technology sector, as investors evaluated whether inflation is close to cresting and the chances of skirting a recession amid monetary tightening. An Asian share index jumped over 1%, helped by Chinese tech firms as well as gains in Japan. US futures inched lower in the wake of a more than 3% Friday surge on Wall Street that cemented the best week for global stocks in a month. Treasuries were steady. Yields have retreated from June highs as growth worries take center stage, leaving the US 10-year rate at 3.13%. Whether that marks the end of the Treasury bear market is another live debate. The yen strengthened against the dollar, while a greenback gaugedipped. Oil traded around $107 a barrel, sapped again by concerns about demand. Traders are also monitoring a summit of the Group of Seven leaders, who plan to commit to indefinite support for Ukraine in its defense against Russia’s invasion. The G-7 in addition is weighing a price cap on Russian oil. Investors are parsing incoming data to work out if the highest inflation in a generation is close to topping out. In time, that could give policy makers latitude to ease up on sharp interest-rate hikes. A more troubling scenario is of lasting price pressures and tighter policy even as the global economy falters. Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes. The US, UK, Japan and Canada also plan to announce a ban on new gold imports from Russia during the G-7 summit. Prices for the precious metal rose. In cryptocurrencies, Bitcoin and a range of other tokens weakened slightly but the largest virtual coin held above $21,000.
Nikkei +1,62% Hang Seng +2,31% CSI +1,24% Shanghai +0,89% Shenzen +1,07%
Eur$ 1,0554 CNH 6,6828 CNY 6,6869 JPY 134,84 GBP 1,2274 CHF 0,9575 RUB 54,4434 TRY 16,5874 WTI$ 107,68 Gold 1,835,32 BTC 21,125 -1,2% ETH 1,2127,15 -2%
S&P +0,06% Nasdaq +0,15% EuroStoxx +0,45% FTSE +0,57% Dax +0,66% SMI
Macro :
- Battery Sector Needs More Local Supply Chains, Nobel Winner Says
- S&P 500 May End Year at 3,700 After Sweeping Even Lower
- Ether Recovery Helps Crypto Retake $1 Trillion Market Cap Level
- Goldman Says Signs Are Here of Belt-Tightening Impact to Profits
- Goldman Sachs Looks to Raise $2B to Buy Celsius Network's Assets, CoinDesk Says
- G-7 Set to Ban New Russian Gold Imports in Pledge Backed by US
- Talks to Revive Iran Nuclear Deal to Restart Within Days
Keep an eye on :
- ATI FP : Plastic Omnium to Buy Actia Power Ops for EU52.5M Ent. Value
- AURA NO : Aurora Eiendom Offering of 6.45m Shares Prices at NOK93/Share
- BA US : Boeing Max Had Over 60 Mid-Air Issues After Clearance, ABC Says
- BA/ LN : BAE Wins $12b US Air Force Contract for Ballistic Missile Work
- BARC LN : Barclays at 0.45x TNAV vs. NatWest's $6 Billion Capital Return
- BORR NO : Borr Drilling Signs LOI to Sell Three Jack Up Rigs for $320m
- CNA LN : Centrica Pulls Out of Energy Provider Bulb’s Auction, FT Reports
- DDDD LN : 4D Pharma Says Not Able to Repay Loans of ~$13.86M to Oxford
- DIS US : Disney, Apple, Amazon Have Bids in on NFL Sunday Ticket: CNBC
- DIS US : Formula 1 Renews US Media Deal With ESPN for About $75M-$90M:SBJ
- DKSH SW : DKSH Acquires Refarmed Group to Expand Performance Materials
- EDF GY : EDF, Engie, Total CEOs Urge Energy Savings to Prepare for Winter
- ENGI FP : Engie Fined 80,000 Euros for Illegal Europe Power Market Trades
- RF FP : In exclusive talks to invest in Sevetys; No terms disclosed at this time - (Veterinary clinics)
- IPN FP : Ipsen to Buy Epizyme for $247M to Expand Cancer Treatments
- JD US : Tencent-Backer Prosus Unloads Nearly $4 Billion of JD.com Stock
- LHA GY : Lufthansa Sees No End to Disrupted Flights Until 2023, Welt Says
- MBG GY : Mercedes-Benz to Stop Making A-Class Around 2025: Handelsblatt
- NESTE FH : Neste Buys European Rights to Alterra Tech to Recycle Plastic
- NOVN SW : Novartis: Four-Year Data Show Lasting Benefit of Kesimpta
- POM FP : Plastic Omnium to Buy Actia Power Ops for EU52.5M Ent. Value
- PRX NA : Tencent-Backer Prosus Unloads Nearly $4 Billion of JD.com Stock
- PRX NA :Prosus Will Sell Tencent Shares to Bankroll Buyback Program
- RWE GY : RWE warns UK tax on electricity generators would risk £15bn investment in renewables - FT
- SPM IM : Saipem to Sell FPSO Cidade de Vitória for $73m
- SOU IM : Poste Italiane to Launch Tender Offer for Sourcesense
- THS US : Investindustrial Is Said in Talks for TreeHouse Meal-Prep Unit
- TPK LN : Travis Perkins, Howden Tested by UK RMI's Crumbling Foundations
- UPC US : Universe Pharma Falls 33%: Chinese U.S. Listings
- VTG US : GIP Said to Near 5 Billion-Euro Deal for German Rail Lessor VTG
- VLA FP : Valneva Cut to Hold at Stifel; PT 12 euros
- WPP LN : Ad Execs Return to Cannes Party With Recession Fears in Backdrop
- ZEN US : Jana Partners Pulls Zendesk Proxy Fight After $9.5 Billion Deal