The record-setting advance in global equities took a breather in Asian trading, as investors braced for a flurry of earnings from megacap technology companies and policy announcements from major central banks this week. MSCI’s Asia Pacific gauge dipped 0.1% as indexes in Japan and South Korea retreated from their all-time highs. An index in Shanghai broke above the psychological barrier of 4,000 for the first time in a decade. The moves came after US indexes had closed at all-time highs as Chinese and US trade negotiators lined up an array of diplomatic wins for Donald Trump and Xi Jinping to unveil at a summit this week. Easing trade tensions have helped fuel a stock rally, while US companies have so far emerged largely unscathed by tariffs, protecting margins through price increases and cost cuts. That optimism faces a reality check this week as investors look to the Federal Reserve meeting for clues on the path of rate cuts, while major technology firms including Amazon.com Inc. and Microsoft Corp. reveal whether earnings momentum can be sustained. On Wednesday and Thursday, five firms that account for about a quarter of the US benchmark — Microsoft Corp., Alphabet Inc., Meta Platforms Inc., Amazon.com and Apple Inc. — will report results. A gauge of the “Magnificent Seven” megacaps jumped 2.6% on Monday. In other corners of the market, the yuan climbed to its strongest level in nearly a year, amid optimism over a potential China-US trade deal. A gauge of the dollar edged lower for a second day, while Treasuries were little changed. Gold held just below $4,000 an ounce as progress in trade talks sapped demand for haven assets.
The yen advanced to 152.24 a dollar Tuesday, outperforming its Group-of-10 peers, as markets welcomed supportive remarks from Japanese officials and cheered the outcome of a high-profile meeting between US and Japanese leaders in Tokyo. Copper — a bellwether for global growth — advanced and traded roughly $60 shy of a record set last year as investors assessed the cooling of trade tensions between the US and China. Technology stocks were in focus after Amazon.com planned to cut as many as 30,000 jobs, Reuters reported. Earlier, Qualcomm Inc. shares rose to their highest price in 15 months after unveiling chips and computers for the lucrative AI data center market, aiming to challenge Nvidia Corp. in the fastest-growing part of the industry. On trade, Trump told reporters on Monday that “I really feel good” about a deal with China, after officials unveiled a slew of agreements to ease tensions. While markets cheered the latest developments, some analysts cautioned the deal now teed up for Trump and Xi to sign in South Korea ignored thorny issues. Fundamental fights over national security appeared untouched, they said, along with Trump’s stated core mission of rebalancing trade. Making that harder, Chinese investment into America remains heavily restricted. Meanwhile, Trump hailed the US’s alliance with Japan, reaffirming ties with a longstanding partner and praising new Prime Minister Sanae Takaichi on her plans to ratchet up defense spending as the pair met in Tokyo. Trump and Takaichi signed a framework on critical minerals. Takaichi is navigating implementation of a trade deal brokered under her predecessor that includes a nebulous pledge for Japan to fund $550 billion in US projects. US After Hours CLS +9%, CFLT +8.7%, and UHS +7.1% sharply higher on earnings; OLN -11.3%, CTOS -9.6%, FFIV -6.8% lower on earnings.
Nikkei -0.58% Hang Seng -0.55% CSI -0.55% Shanghai -0.32% Shenzen -0.28%
Eur$ 1.1663 CNH 7.0998 CNY 7.1008 JPY 151.94 GBP 1.3363 CHF 0.7936 RUB 79.2520 TRY 41.9608 WTI$ 61.22 -0.15% Gold 3,963 -0.45% BTC 113,665 -0.75% ETH 4,074 -1.41%
S&P -0.04% Nasdaq +0.02% EuroStoxx -0.23% FTSE +0.04% Dax -0.14% SMI -0.12%
Macro :
- Lutnick Says Japan’s US Investment to Start With Power: Nikkei
- Brookfield Says Private Credit Not Crowding Out Private Equity
- Europe Car Sales Jump as Buyers Get More Options on Cheaper EVs
- Hurricane Melissa Nears Jamaica as Island’s Worst-Ever Storm
- Goldman CEO Solomon Sees No ‘Systemic Crisis’ in Credit Markets
Keep an eye on :
Keep an eye on :
- AIR FP : Air Liquide 3Q Revenue Meets Estimates
- AAF LN : Airtel Africa 1H Adjusted Ebitda $1.45B Vs. $1.09B Y/y
- ALFA SS : Takkt 3Q Ebitda EU10.5M; Cuts FY Guidance
- AAL LN : Anglo American 3Q Diamond Production Beats Estimates
- AUB AU : EQT Seeks to Buy Insurance Broker AUB at 25% Premium: Snapshot
- AMZN US : Amazon Plans to Cut Up to 30,000 Corporate Jobs: Reuters
- AMUN FP : Amundi Tops Estimates as Assets Under Management Reach Record
- CAR US : Avis Budget Jumps After 3Q Adjusted Ebitda Beats Estimates
- BAE LN : BAE to Recognise About £4.6b of UK-Turkey Typhoon Aircraft Deal
- BL US : SAP Is Said to Have Made Approach for Software Firm BlackLine
- BNP FP : BNP Paribas 3Q Net Income Meets Estimates
- BT/A LN : BT explores new mobile brand to take on budget rivals
- BUCN SW : Bucher 9M Sales CHF2.16B Vs. CHF2.42B Y/y
- CAP FP : Capgemini Boosts FY Revenue in Constant Currency Forecast
- CEC GY : Ceconomy FY Sales Meet Estimates; Prelim. FY Adj. Ebit ~EU380m
- CNNE US : Activist Fund Carronade Plan Proxy Fight at Cannae Holdings: FT
- CLARI FP : Clariane Maintains FY Organic Revenue Forecast
- CVC NA : Banijay Group Buys Majority Stake in Tipico Group From CVC
- BN FP : Danone 3Q Like-for-Like Sales Beat Estimates
- DB1 GY : Deutsche Boerse 3Q Ebitda Beats Estimates
- DTE GY : Nvidia, Deutsche Telekom Plan €1 Billion Data Center in Germany
- DPZ US : Bain Capital considers Domino’s buyout in deal worth up to $4b
- LLY US : Lilly’s Omvoh Approved by US FDA for Ulcerative Colitis
- EQT SS : EQT Seeks to Buy Insurance Broker AUB at 25% Premium: Snapshot
- GLXY US : Galaxy Digital Sinks After $1 Billion Exchangeable Bond Offer
- GALD SW : Galderma Holders EQT, Auba, ADIA Offer About 20m Shares: Terms
- GALD SW : Galderma Backers Offer Stake Worth $3.5 Billion in Selldown
- GGOGL U S : Google, NextEra Energy Partner to Reopen Iowa Nuclear Plant: Fox
- HHFA GY : Hamburger Hafen Cuts FY Ebit Forecast
- HSBA LN : HSBC 3Q Pretax Profit $7.30B Vs. $8.48B Y/y, HSBC Extends Gains in HK After Raising Profitability Outlook
- HYQ GY : Hypoport Cuts FY Revenue Forecast
- JNJ US : J&J Talc Suits Rise 17% After Failed Settlement Effort
- BAER SW : Julius Baer to Open Branch in Portugal in 4Q
- KPN NA : KPN 3Q Adjusted Ebitda After Leases Meets Estimates
- LAND SW : Landis + Gyr 1H Adjusted Ebitda $69.2M Vs. $111.3M Y/y
- LKOH RM : Lukoil Intends to Sell International Assets Amid Sanctions
- META US : Zuckerberg Appoints Vishal Shah to Key Role on Meta AI Team: FT
- NEE US : Google, NextEra Energy Partner to Reopen Iowa Nuclear Plant: Fox
- NDX1 GY : Nordex Boosts FY Ebitda Margin Forecast
- NOS PL : NOS 3Q Revenue EU457.3M Vs. EU462.8M Y/y
- NOEJ GY : Norma Reports Non-Cash Effective Goodwill Impairment of ~€50M
- NOEJ GY : Norma Reports Non-Cash Effective Goodwill Impairment of ~€50M
- NOVN SW : Novartis 3Q Core EPS Misses Estimates
- NOVN SW : Novartis Tourmaline Bio Tender Transaction to Close Oct. 28
- NUE US : Nucor 3Q Net Sales Beat Estimates
- NXPI US : NXP Semi 3Q Revenue Meets Estimates
- ORVO US : Apple Supplier Skyworks Held Talks to Buy $8 Billion Rival Qorvo
- RIO LN : Rio Tinto Says Australia’s Tomago Aluminum Smelter May Close
- ROG SW : Roche INShore Phase 3 Study for Gazyva Met Primary Endpoint
- SAP GY : SAP Is Said to Have Made Approach for Software Firm BlackLine
- STM FP : Seatrium Gets S$170m Worth of Repair, Upgrade Contracts
- ALBRF FP : Sidetrade: Sidetrade Closes Purchase of Ezycollect
- SIGN SW : SIG Group 3Q Adjusted Ebitda Misses Estimates
- WAF GY : Siltronic 3Q Sales Miss Estimates
- GLE FP : Societe Generale Hires DiPrete for US Fintech Investment Banking
- STLA US : Stellantis Says No Plan to Reduce Italy Manufacturing Footprint
- SMHN GY : SUSS MicroTec Cuts FY Ebit Margin Forecast
- SY1 GY : Symrise Cuts FY Organic Sales Forecast
- TTK GY : Takkt 3Q Ebitda EU10.5M; Cuts FY Guidance
- TEN IM : Petrobras Awards Tenaris 3-Year OffShore Brazil Supply Contract
- TTE FP : TotalEnergies, AEW Awarded 400 MW Solar Project in Saudi Arabia
- TRUEB SS : Truecaller 3Q Ebit Misses Estimates
- UBSG SW : Tom Hayes Sues UBS for $400 Million, Alleging It Scapegoated Him
- VLK NA : Van Lanschot Kempen 3Q Total Client Assets EU173.3B
- VENDA NO : Vend Marketplaces to Start New Share Buyback Program in 4Q
- WRT1V FH : Wartsila 3Q Net Sales Miss Estimates, Wartsila 3Q EPS Beats Estimates; Sees Higher Demand in Marine
- WHR US : Whirlpool Shares Drop as Full-Year EPS Guidance Narrowed