Asian equities climbed along with European futures while the dollar traded lower as fears of broader contagion from the banking turmoil eased. A gauge of Asian shares climbed about 0.8%, with benchmark indexes rising in Hong Kong, Japan, South Korea and Australia. Contracts for US stocks also showed small gains. Traders have been cautiously inching toward a risk-on posture as jitters in the banking sector subside. Financial firms were among the best performers in Asia on Tuesday and looked set to snap a two-day loss. Finance stocks led the way on Wall Street on Monday, while energy producers gained as well. The tech-heavy Nasdaq 100 ended the session 0.7% lower, capping a two-week advance. The two-year Treasury yield slipped back below the 4% level in Asia trading after surging 23 basis points Monday. Sentiment from the US session flowed across to trading in Australia and New Zealand, where rates on government debt climbed. A gauge of dollar strength fell for a second day. The yen strengthened after Japan’s cabinet approved the use of some funds from the fiscal 2022 budget for measures to cushion the impact of inflation. Some investors in the market remain on the lookout for signals of a recession later this year as the Fed and other central banks could be forced to implement higher-for-longer rate hikes to tame inflation. JPMorgan’s chief strategist Marko Kolanovic said the first quarter “will likely mark the high point for equities this year,” recommending investors stay defensive in a research note. One of Wall Street’s most prominent bears, Morgan Stanley strategist Michael Wilson was also cautious on stocks, saying earnings estimates and valuations need to come down. Asian shares related to digital currencies fell in the wake of Bitcoin’s drop. The token fell 2.7% Monday after the US Commodity Futures Trading Commission sued Binance Holdings Ltd. for allegedly breaking trading and derivatives rules. Bitcoin dropped slightly on Tuesday. Oil steadied after posting the biggest daily rally since October when it rose by around 5% on Monday. Gold fluctuated. US After Hours PVH +9.7% making a nice move following JanQ earnings; LYFT +3.3% up on new CEO news; RSI -3.8% down after winding down Connecticut Lottery Corp partnership.
Nikkei +0.08% Hang Seng +0.62% CSI -0.12% Shanghai +0.07% Shenzen -0.22%
Eur$ 1.0814 CNH 6.8802 CNY 6.8808 JPY 130.64 GBP 1.2319 CHF 0.9145 RUB 76.7803 TRY 19.0966 WTI$ 72.73 -0.12% Gold 1960+0.18% BTC 26,933 -0.43% ETH 1,719 +0.66%
S&P +0.14% Nasdaq +0.10% EuroStoxx +0.44% FTSE +0.32% Dax +0.35% SMI +0.38%
Macro :
- Israel’s Netanyahu Pauses Legal Overhaul Push After Protests
- Gundlach Says Recession to Start in Few Months, Fed to Cut Rates
- US, Japan Strike Deal on Supply of Minerals for EV Batteries
Keep an eye on :
- ALB US : Albemarle Reports Proposal to Buy Liontown
- AMBUB DC : Ambu Has EU Regulatory Approval for Full Bronchoscope Portfolio
- BP/ LN : BP and Adnoc in Non-Binding Pact to Take Newmed Energy Private
- CLNX SM : Cellnex Says Bertrand Boudewijn Kan Stepping Down as Chairman
- DMP GY : Dermapharm Maintains FY Revenue Forecast, Misses Estimates
- DIS US : Disney Cuts Metaverse Unit as Part of Layoffs Plan: WSJ (1)
- ENGI FP : Engie Asks Shareholders to Reject Demand for Annual Climate Vote
- EVT GY : Evotec SE Sees 2023 Adjusted Ebitda EU115M to EU130M
- Feralpi IPO : Italy Steelmaker Feralpi Weighs Milan IPO: Messaggero
- FHZN SW : Flughafen Zurich Names Kevin Fleck New CFO
- HEN3 GY : Henkel Is Close to Selling Russian Assets, Vedomosti Says
- ISP IM : Intesa CEO Messina Total Compensation For 2022 Set at €7.2m
- Isar Aerospace : German Rocket Startup Isar Aerospace Raises $165m: FT
- KER FP : Rise of Rental, Resale, Recycle: Luxury's Secondhand Opportunity
- NTGY SM : Naturgy to Invest €117m in 145MW Spanish Energy Storage Projects
- NTGY SM : *NATURGY, STATKRAFT BID FOR ARDIAN SPAIN WIND FARMS: ECONOMISTA
- NXT LN : Next in Advanced Talks to Buy Cath Kidston: Sky News
- NIVIB SS : Nivika Fastigheter Offers 750m Shares
- NOEJ GY : Norma Sees 2023 Adjusted Ebit Margin About 8%, Est. 8.95%
- PCG US : PG&E Pledges $18 Billion to Cut Wildfire Risk in California
- QDT FP : Quadient FY Ebitda EU240M
- RAA GY : Rational FY Ebit Beats Estimates
- RL US : PVH 4Q Adjusted EPS Beats Estimates
- SCHA NO : Schibsted Launch Vertical-Based Model for Nordic Marketplaces
- TTK GY : Takkt Sees FY Ebitda EU120M to EU140M, Est. EU136.5M
- TEF SM : *TELEFÓNICA, ASTERION READY SALE OF 11 DATA CENTERS: EXPANSION
- TIT IM : Italy’s State Lender Plans Raising Offer for Telecom Italia Grid
- UU/ LN : United Utilities Keeps Expectations Unchanged
- WAC GY : Wacker Neuson Sees 2023 Ebit Margin 9.5% to 10.5%