Asian equities eased from all-time highs after conflicting signals from the US and Iran on prospects for a deal to end the war. Crude oil gained.
MSCI’s Asia Pacific equities gauge fell 0.6%, snapping a five-day rally fueled by surging technology shares. Taiwanese shares bucked the trend, gaining 0.8%. Equity-index futures for the S&P 500 and the Nasdaq 100 retreated. Brent crude climbed 2.3% to $96.45 a barrel as American forces carried out airstrikes on an Iranian military site, underscoring the elusiveness of any resolution to the war despite recent optimism. Authorities described the attack as defensive. Kuwait also said it’s responding to hostile missile and drone threats. The dollar strengthened for a third consecutive day, while gold fell 1% to about $4,400 an ounce. Treasuries dropped as higher oil prices stoked inflation concerns, with the yield on the benchmark 10-year climbing two basis points to 4.50%. Bonds in Australia and New Zealand also declined. While resilient demand for the artificial-intelligence trade has repeatedly pushed global equities to record highs, elevated energy prices and the risk of renewed inflation have kept bond investors cautious. Attention now turns to Thursday’s release of the April personal consumption expenditures index — the Fed’s preferred inflation gauge — for clues on interest rates and the next move for markets. President Donald Trump said he was “not satisfied” in negotiations with Iran, damping expectations for an imminent breakthrough. Trump asserted that no one nation would control the Strait of Hormuz, highlighting a key sticking point in resolving the conflict as it enters its fourth month. US Secretary of State Marco Rubio said that “we’ll see over the next few hours and days whether progress could be made” on Iran. Meanwhile, a US official said the US Central Command forces had shot down a quartet of one-way Iranian attack drones that were fired at a commercial ship and also struck another Iranian drone-launching unit in Bandar Abbas, near the vital Strait of Hormuz. US stocks ended Wednesday’s session roughly where they started, as investors took profits in tech names but remained optimistic that an end to the war in the Middle East was near. Despite the day’s see-saw trading, Wall Street strategists remain largely bullish on stocks, with the S&P 500 hovering near all-time highs. An “exceptionally strong first-quarter reporting season” prompted Goldman Sachs Group Inc. strategists led by Ben Snider to raise the year-end target for the S&P 500 to 8,000 points from a previous forecast of 7,600. Goldman joined Morgan Stanley and Deutsche Bank AG in seeing the benchmark end the year at 8,000 points. The technology sector remained in focus after some mixed earnings. Salesforce Inc. gave a lukewarm outlook and HP Inc. gave a profit outlook that failed to ease the chip-cost concern. Snowflake Inc. shares jumped almost 30% in late trading after the software maker gave a stronger-than-expected annual outlook. Marvell Technology Inc. delivered a quarterly forecast that exceeded analysts’ estimates. Elsewhere, elevated energy prices and inflation risks are clouding the outlook for central banks as traders turn their attention to Thursday’s economic data. The PCE price index rose 3.5% from a year earlier in March and economists anticipate an increase to 3.8% in April. That’s well above the long-run rate of 2% targeted by the Fed. Fed Vice Chair Philip Jefferson said he expects inflation to cool later this year as the effects of tariffs and higher energy costs wear off, though he warned inflationary risks remain tilted to the upside. Earlier, Fed Governor Lisa Cook said inflation is headed in the wrong direction and she would be prepared to raise interest rates if that persists. US after Hours SNOW +35.8% surging on earnings and AWS collaboration; MRVL +2.7%, HPQ +0.8% modestly higher on earnings; BRZE -11.1%, P -7.6%, SNPS -2.1%, CRM -1.3% lower on earnings.
Nikkei +0.06% Hang Seng -1.98% CSI -0.74% Shanghai -0.24% Shenzen -0.27%
Eur$ 1.1600 CNH 6.7853 CNY 6.7850 JPY 159.62 GBP 1.3377 CHF 0.7899 RUB 71.0068 TRY 45.8995 WTI$ 91.74 +3.47% Gold 4,377 -1.66% BTC 73,311 -2.44% ETH 1,983 -3.30%
S&P -0.17% Nasdaq -0.51% EuroStoxx -0.80% FTSE -0.63% Dax -0.65% SMI -0.43%
Macro :
- Abu Dhabi Wealth Funds Are Raising Billions in Share Sale Spree
- EU to Broaden Import Quotas and Tariffs Against China: FT
- China Is Exporting Its Factories Across the World and Spooking the Competition - WSJ
Keep an eye on :
Keep an eye on :
- ABBV US : AbbVie Gets FDA Approval for Decnupaz Blood Cancer Drug
- AC FP : Accor CEO Sébastien Bazin to step down
- ADJ GY : Adler Group Maintains FY Net Rental Income Forecast
- AGN NA : Aegon Publishes Proposal for US-Aligned Governance Framework
- AMZN US : Amazon Names Schoenberg as New Head of Healthcare Business
- AVOL SW : Avolta Secures 12-Year Contract at Norfolk International Airport
- BCP PL : BCP Approves Up to EU407.5M Share Buyback
- BT/A LN : UK Would Block Sunil Bharti Mittal From Raising Stake in BT: FT
- DIE BB : D'Ieteren 1Q Revenue +0.2%; Confirms FY Outlook
- EKTAB SS : Elekta 4Q Net Sales Miss Estimates
- LLY US : Lilly Vows Global Drug Launches Despite Pricing Pressure
- FDX US : FedEx Freight Holding Company Set to Join S&P 500
- GALE SW : Galenica Maintains FY Sales Forecast
- GTT FP : GTT Gets Order From HD KSOE for Two LNG Carriers’ Tank Design
- HPQ US : HP’s 2Q PC Sales Upside May Fade as Costs Rise: Earnings Outlook
- IBE SM : Iberdrola Unit Avangrid and Microsoft Ink 140 MW Solar Deal
- IPN FP : Ipsen Pharma Says Iqirvo Data Showed Improvements in Fatigue
- JMAT LN : Johnson Matthey FY Revenue Beats Estimates
- LLOY LN : Lloyds, National Wealth Fund to Finance University Retrofits
- LULU US :For ailing Lululemon, going private might not be a stretch - FT
- META US : Meta New Unit to Push AI Tools to Enterprise Clients:Information
- MGM US : *MGM RESORTS CLOSES 9.1% HIGHER IN BEST DAY SINCE APRIL 2025
- MUX GY : Mutares Weighs Sale, IPO of Firefighting Tech Company Magirus
- BMPS IM : BPM Could Hire Goldman to Review Potential Paschi Deal: Corriere
- NTGY SM : CVC’s €3.1 Billion Naturgy Selldown Said to Draw About 90 Orders
- NBIS US : Nebius Shares Jump After Situational Awareness Reports Stake
- PPH LN : PPHE Hotel Group Gets Indicative £22/Share Proposal From Fattal
- ROS AV : Mutares Weighs Sale, IPO of Firefighting Tech Company Magirus
- SAABB SS : Sweden in Talks to Sell Saab Jets to Ukraine: Aftonbladet
- SAN FP : Sanofi’s Venglustat Accepted for Priority Review in US
- SCHO DC : Schouw Says BioMar Raises DKK50m in Copenhagen IPO
- SIVE SS : A 1,700% Jump Turns Retail Trader Favorite Sivers Into Short Bet
- SFER IM : Salvatore Ferragamo Launches Buyback Approved by Shareholders
- CRM US : Salesforce 2Q Revenue Forecast Misses Estimates, Salesforce Dips, Results Don’t Ease Disruption Risk: Street Wrap
- SNOW US : Snowflake Expands AWS Collaboration With $6b Five-Year Pact
- SNOW US : Snowflake Soars as Results Speak to AI Strength: Street Wrap
- 9984 JP : SoftBank Is Said to Offer $300 Million Block of Symbotic Shares
- SOI FP : Soitec Margins Disappoint, Outlook Seems Uncertain: Street Wrap
- SOI FP : Soitec Sees 1Q Like-for-Like Sales About +15%
- SPCX US : SpaceX Starship Rocket Grounded by FAA After Launch Mishap
- SYM US : SoftBank Is Said to Offer $300 Million Block of Symbotic Shares
- TSLA US : Early SpaceX Investor Says Tesla Tie-Up Is Only a Matter of When
- SPCE US : Virgin Galactic Prototype Spaceship VSS Unity Makes Glide Flight
- UCG IM : UniCredit Takes SRTs Into Core of Bank Lending in Profit Push
- VIG AV : Vienna Insurance 1Q Pretax Profit EU310.3M