Asian shares posted a modest gain, while US stock futures slipped, as traders held back ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole speech for clues on the path of interest rates. Treasuries held their losses. MSCI’s Asia Pacific equities gauge added 0.3%, with winners and losers almost evenly split. Futures for Wall Street gauges edged lower as initial enthusiasm about the artificial intelligence trade following Nvidia Corp.’s bullish outlook waned. Contracts for the Nasdaq 100 Index slipped 0.1%, with sentiment weighed down by Marvell Technology Inc., which fell more than 7% in extended trading following its earnings report. Treasuries held Thursday’s losses, when yields rose two to three basis points across the curve amid concerns about inflation and the US fiscal outlook. Warsh is due to speak at the Fed’s annual gathering in Jackson Hole, Wyoming, with some expecting a hawkish tone. The yield on the rate-sensitive two-year note held at 4.22%. The dollar edged lower. The modest moves across assets showed traders were reluctant to add to positions before Warsh’s speech, which may determine whether the recent rise in bond yields has further to run. Investors will look for clues on how the Fed will balance persistent inflation against a cooling economy, with any lack of clarity likely to fuel volatility in longer-dated Treasuries and stocks already grappling with concerns over massive AI spending.Traders also assessed fresh clues on the Fed’s policy path, including a drop in US jobless claims and rising wholesale inventories, while the merchandise trade deficit widened in July to the largest since early last year. Kansas City Fed President Jeff Schmid said monetary policy isn’t restraining the economy. Fed policymakers left the federal funds rate unchanged at 3.5% to 3.75% at their latest meeting, while futures are pricing in a quarter-point increase by year-end.A clear policy signal will likely be scarce given Warsh’s reluctance to provide forward guidance, said Elias Haddad at Brown Brothers Harriman & Co. Instead, Warsh may preview the Fed’s five task forces’ early findings on communications, the balance sheet, economic data, productivity and jobs, and the inflation framework, he said. In Asia, the yen hovered around 159.40 per dollar after Tokyo’s key inflation gauge accelerated for a third month. Data is due Friday from the Finance Ministry on how much the nation spent on currency intervention over the past month. In other corners of the market, gold edged lower to trade around $4,580 an ounce, while Bitcoin rose 0.7% to about $80,700. Brent fell 0.5% to about $89.20 a barrel even as diplomatic efforts toward an agreement over the Strait of Hormuz hit fresh hurdles. Separately, Venezuela was closely examining plans to leave OPEC, according to people familiar with the matter. On Thursday, US technology stocks rallied on Nvidia’s outlook, lifting the major indexes even as every other sector in the US market declined. While questions over the sustainability of AI spending may continue to fuel bouts of volatility in tech, accelerating investment in the sector may also add to inflation and upward pressure on bond yields. US After Hours RBRK -9.4%, MRVL -6.2%, ADSK -5.3%, ULTA -4.1%, S -3% lower on earnings; ESTC +16.7%, GAP +14.3%, AFRM +8.9% higher on earnings.
Nikkei +0.31% Hang Seng +0.31% CSI -0.31% Kospi -1.76% Shanghai +0.04% Shenzen -0.22%
Eur$ 1.1649 CNH 6.7209 CNY 6.7212 JPY 159.45 GBP 1.3592 CHF 0.8045 RUB 85.9438 TRY 48.2440 WTI$ 83.20 -0.41% Gold 4,583 -0.70% BTC 79,915 -0.26% ETH 2,492 -0.68%
S&P -0.12% Nasdaq -0.30% EuroStoxx +0.29% FTSE +0.14% Dax +0.33% SMI +0.13%
Macro :
- Citadel Securities Notches Record $7.3 Billion Trading Revenue
- US Mulls Order for Self-Regulatory Body for AI Cos: Information
Keep an eye on :
Keep an eye on :
- ACKB BB : Ackermans & Van Haaren to Invest €93m in Grieg Aqua
- AFRM US : Affirm Holdings 1Q Revenue Forecast Beats Estimates
- AMZN US : Amazon Strikes Four Wind Power Supply Deals in Sweden
- ADSK US : Autodesk 3Q Adjusted EPS Forecast Misses Estimates
- BOOTZ SS : Boozt Holder Ferd Offers Shares
- BP/ LN : Energean in Exclusive Talks for BP Gas Assets Off Egypt: Reuters
- BP/ LN : Energean in Exclusive Talks for BP Gas Assets Off Egypt: Reuters
- BWLPG NO : BW LPG 2Q Net Income Misses Estimates
- CRWD US : *CROWDSTRIKE GAINS 21% FOR BEST DAY SINCE TRADING DEBUT IN 2019
- ESTC US : Elastic Rallies After Boosting Full-Year Forecast: Street Wrap
- EVK GY : Evonik to Invest Over C$150M in Vancouver Facility
- FOXA US : Fox Says It’s Had No Merger Talks With News Corp. Since 2022
- FRO US : Frontline 2Q Net Income Beats Estimates
- G IM : Generali Says It is Evaluating Paschi’s Proposal for Unit
- GSF NO : Grieg Seafood Reports Change of Ownership in Grieg Aqua
- HAFNI NO : Hafnia Q2 EPS $0.56 Beats $0.53 Estimate, Sales $505.700M Beat $387.667M Estimate
- HAL NA : HAL 2Q Net Asset Value per Share EU195.16
- INTRUM SS : Intrum 2Q Adjusted Ebit Misses; To Accelerate Cost Program
- ITERA NO : Itera 2Q Revenue Under Estimates
- KEBNIB SS : KebNi Registers Class B Shares via Pareto Securities
- MRVL US : Marvell Falls as Results Don’t Extend 2026 Surge: Street Wrap
- NNIT DC ; NNIT 2Q Revenue Above Estimates
- NVDA US : Nvidia Pauses Revenue-Sharing Deals With AI Cloud Companies -- WSJ
- PYPL US : Advent, Stripe Are Said to Abandon $50 Billion Pursuit of PayPal
- TYRES FH : Nokian Renkaat CEO Says Rebuild Gathers Pace as Tire Sales Boom
- RI FP : Pernod Ricard weighs options for India IPO, kicks off legal process
- RECT BB : Recticel FY Adjusted Ebitda Forecast Beats Estimates
- RIVN US : Rivian CFO Claire McDonough to Step Down
- RBRK US : Rubrik 3Q Revenue Forecast Beats Estimates
- ENR GY : Siemens Energy Workers Oppose Proposed Industry Unit Spinoff
- SIVE SS : Sivers Semiconductors 2Q Revenue Misses Estimates
- SOLS US : Solstice, Element Solutions Terminate $14.5 Billion Merger
- STR AV : Strabag Boosts FY Ebit Margin Forecast
- TOBII SS : Tobii 2Q Sales SEK154M Vs. SEK284M Y/y
- VALMT FH : Valmet Corp: Valmet delivers recovery boiler modification to Stora Enso Varkaus mill in Finland to improve reliability and cost
- VOTR GY : Voltatron To Buy Kurz Elektronik From Prettl
- FHZN SW : Zurich Airport 1H Revenue Meets Estimates