Japanese stocks tumbled and the yen rose after a report that Prime Minister Shinzo Abe will resign due to health reasons. Treasury yieldsjumped after Jerome Powell said the Federal Reserve will remain accommodative and shift to a more relaxed approach on inflation.
Japan’s benchmark Topix Index fell as much as 1.6% before paring losses, while the yen climbed as much as 0.4% against the dollar, after broadcaster NHK said Abe would explain his reasons for a resignation at a news conference later Friday.
Meanwhile, yield curves steepened in Asia along with U.S. Treasuries after Powell said the Fed will seek inflation that averages 2% over time, a step that implies allowing for periods of overshoots. Australia’s 10-year bond yield breached 1% for the first time since June as other sovereign notes fell.
U.S. and European stock futures rose along with most Asian equities. The S&P 500 on Thursday reached a fresh all-time high. The Nasdaq Composite also set a record before closing in the red. The dollar retreated, erasing Thursday’s advance.
US After Hours ULTA +15.7%, WDAY +12%, HPQ +3.4 up on earnings; NTNX +16.4% up on Bain investment; OKTA -4.3%, GPS -2.8%, MRVL -1%, VMW -1% lower on earnings
Nikkei -1.40% Hang Seng +1.10% CSI +1.10% Shanghai +0.45% Shenzen +0.86%
Eur$1.1871 CNH 6.8718 CNY 6.8765 JPY 106.20 GBP 1.3264 CHF 0.9058 RUB 74.6564 WTI$ 43.02 -0.05%
S&P +0.54% Nasdaq +0.34% EuroStoxx +0.48% FTSE +0.38% Dax +0.51% SMI +0.05%
Macro :
- Merkel Calls on Germans to Avoid Virus-Hit Areas Including U.S.
- Fund Flows to Stocks Recover, Quicken Into Bonds, Citi Says
- European Equities Set For Pain if Euro’s Advance Nears $1.30
- Gold Advances as Investors Weigh Fed’s New Approach on Inflation
- German Sept. GfK Consumer Confidence -1.8; Est. +1 (Table)
Keep an eye on :
- ACKB BB : Ackermans First Half Net Income EU56.3 Mln
- AIR FP : Boeing Said to Pull Eight Dreamliners Due to Structural Problems
- BAYN GY : Bayer’s $11 Billion Deal Risks Partial Collapse, Judge Says (2)
- BMPS IM : ECB Tells Paschi to Boost Capital for Approval on Bad Loans Deal
- BC IM : Brunello Cucinelli 1H Ebitda Loss Narrower Than Est.
- CWR LN : Ceres Power a New Best Idea Long at Hedgeye; Sees 300% Upside
- DOF NO : Akastor Takes Control Over DOF Deepwater in Restructuring Deal
- EPG LN : EP Global Opportunities Trust Rated New Sell at Investec
- EUCAR FP : Hertz Seeking Up to $1.5 Billion In Bankruptcy Financing
- GLEN LN : Glencore in Talks to Sell Entire Mine Stake to Zambia: Reuters
- HAL NA : HAL First Half Revenue EU2.37 Bln
- MC FP : L Catterton Prepares IPO of Leslie’s Poolmart: Reuters
- NAS NO : Norwegian Air 1H Pretax Loss NOK4.8B vs Loss NOK1.9b Year Ago
- NAS NO : Norwegian Air Says Its Bailout Won’t Be Enough to Survive Crisis
- PTEC LN : Playtech Confirms in Talks on Sale of TradeTech Unit
- RNO FP : How a Powerful Nissan Insider Tore Apart Carlos Ghosn’s Legacy
- ROG SW : Baxalta Suit Over Roche’s Hemlibra Revived by Appeals Court
- ROG SW : Roche Reports FDA Approval of Foundation Medicine’s Tumor Test
- SAN FP : Sanofi to Start Offer for Purchase of Principia Biopharma
- SGRE SM : Siemens Gamesa’s U.K. Unit to Benefit from Blade Expansion Plan
- SIFG NA : SIF First Half Ebitda EU11.5 Mln, -9.4% Y/y
- GLE FP : SocGen’s Oudea Expects Lower Cost of Risk in Second Half
- TIT IM : Italy, Telecom Italia to Create National Broadband Company
- VOW3 GY : German Auto Supplier Hella Said to Seek Buyer for Software Unit
- VOw3 GY : VW Targeting at Least EU1b Green Bond Sale in Sept.: DJ
- WDI GY : Administrator Finds Wirecard Has EU428m of Assets: Sueddeutsche
- ZUGN SW : Zug Estates First Half Ebit CHF12.9 Mln, -61% Y/y