US equity futures climbed Friday on positive earnings from Amazon.com Inc. and Apple Inc. and expectations of shallower Federal Reserve monetary tightening, a prospect that’s also supporting sovereign bonds. Nasdaq 100 contracts added more than 1% after the US stock market hit a seven-week high Thursday. Amazon jumped over 13% in extended trading, while Apple also advanced, after their revenues beat estimates.
But Asian bourses were more mixed, hampered by a decline in Hong Kong and hesitant performance in China. Traders were parsing a downbeat economic growth assessment from China’s top leaders at a key meeting and a lack of new stimulus policies. Treasuries trimmed a rally that’s left the 10-year yield close to lowest level since April. Bonds jumped in the Wall Street session on data showing a second consecutive quarterly contraction in the US economy, which bolstered the view that inflation will cool and that the Fed will become less aggressive. A dollar gauge was steady, oil topped $97 a barrel and golddipped. Bitcoin slipped back after breaching $24,000. Global shares are on course for a second weekly advance, paring this year’s rout to about 16%. The risk is that the recent bout of optimism eventually gets a reality check if inflation stays stubbornly elevated, leaving interest rates higher than investors would like amid an economic downturn. Second-quarter US gross domestic product fell an annualized 0.9% after a 1.6% drop in the first three months of the year. Back-to-back quarters of decline define a recession in most parts of the world, but in the US it’s not official until economists at the National Bureau of Economic Research deem it so. Swaps tied to Fed meeting dates anticipate a peak in the fed funds rate of about 3.25% around year-end, less than a percentage point above its current level, followed by reductions next year to shore up growth. Such pricing is a major bone of contention for market participants. A call between US President Joe Biden and his Chinese counterpart Xi Jinping underlined bilateral tension even as the leaders told aides to plan an in-person meeting. US After Hours AMZN +12.7%, AAPL +3%, ROKU -24.9%, INTC -8.3% headline busy earning session
Nikkei +0,46% Hang Seng -2,14% CSI -1,10% Shanghai -0,71% Shenzen -0,71%
Eur$ 1,0202 CNH 6,7476 CNY 6,7441 JPY 133,54 GBP 1,2175 CHF 0,9351 RUB 62,3125 TRY 17,9496 WTI$ 96,79 Gold 1759,70 BTC 23,885 -0,60% ETH 1,725 61,80%
S&P +0,68% Nasdaq +1,37% EuroStoxx +0,49% FTSE +0,30% Dax +0,49% SMI +0,40%
Macro :
- Bitcoin and Ether Are on Track for Their Best Month Since 2021
Keep an eye on :
- ANA SM :Acciona 1H Net Income Misses Estimates
- ANDR AV : Andritz 2Q Ebita Beats Estimates
- AF FP : Air France-KLM 2Q Net Income Beats Estimates,
- AAL LN : Anglo American’s New Boss Sounds Warning on Future Copper Supply
- ADP FP : ADP Boosts FY Ebitda Margin Forecast
- AMS SM : Amadeus 2Q Ebitda Beats Estimates
- AMS SW : AMS-Osram 2Q Adjusted Ebit Misses Estimates
- AMUN FP : Amundi Defies Gloom Among Managers With $1.8 Billion of Inflows
- APAM NA : Aperam 2Q Sales Misses Estimates
- AAPL US : Apple 3Q Revenue Meets Estimates: Snapshot
- AKE FP : Arkema Sees FY Ebitda About EU2.10B, Est. EU1.96B
- BFIT NA : Basic-Fit Sees Network Growing to Around 1,250 Clubs in 2022 (1)
- BBVA SM : BBVA 2Q Net Income Beats Estimates (1)
- BEFB BB : Befimmo 1H Adjusted EPS EU1.34 Vs. EU1.14 Y/y
- BEKB BB : Bekaert 1H Adjusted Ebit Beats Estimates
- BNP FP : BNP Beats Estimates on Boost From Retail Unit, Equities Push
- BRNL NA : Brunel 2Q Ebit EU10.0M Vs. EU7.6M Y/y
- CABK SM : CaixaBank 2Q Net Income Beats Estimates
- CAP FP : Capgemini Boosts FY Revenue in Constant Currency Forecast
- CGG FP : CGG 2Q Segment Revenue $240M
- COFA FP : Coface 2Q Net Income EU78.2M Vs. EU66.9M Y/y
- CFN PL : Cofina 1H Net Income EU3.26M Vs. EU1.95M Y/y
- COFB BB : Cofinimmo 1H Net Rental Income EU159.3M Vs. EU145.4M Y/y
- EDP PL : EDP 1H Net Income EU306M Vs. EU343M Y/y
- ENEL IM : Enel 1H Adjusted Ebitda Meets Estimates
- ENI IM : Eni 2Q Adjusted Net Beats Estimates, *ENI RAISES 2022 SHARE BUYBACK TO EU2.4B
- EL FP : EssilorLuxottica 2Q Revenue Beats Estimates
- ENX FP : Euronext 2Q Revenue Beats Estimates
- FDJ FP : FDJ 1H Ebitda EU308M Vs. EU261M Y/y
- FDR SM : Fluidra Cuts FY Ebitda Forecast
- FORN SW : Forbo 1H Sales Beats Estimates
- FPE GY : Fuchs Petrolub Maintains FY Ebit Forecast
- GTT FP : GTT 1H Revenue EU144.2M Vs. EU165.3M Y/y
- HEIJM NA : Heijmans 1H Revenue EU864M Vs. EU881M Y/y
- HLE GY : Hella to Sell 33.33% Stake in HBPO Venture for 290 Million Euros
- COL SM : Inmobiliaria Colonial 1H Net Rental Income EU153M
- NK FP : Imerys in Talks to Sell Unit to Platinum Equity, 2Q Rev. EU1.35B
- IPR PL : Impresa 1H Net Loss EU2.16M Vs. Profit EU3.34M Y/y
- INW IM : INWIT 2Q Revenue Meets Estimates
- SKB GY : Koenig & Bauer 1H Ebit Loss EU13.8M Vs. Profit EU6.4M Y/y
- LDO IM : Leonardo 2Q Ebita Misses Estimates Merlin Properties 1H Ebitda EU165.8M
- MRL SM : Merlin Properties 1H Ebitda EU165.8M
- NEOEN FP : Neoen Boosts FY Ebitda Forecast, Beats Estimates
- ONTEX BB : Ontex 2Q Adjusted Ebitda Misses Estimates
- OR FP : L'Oreal 2Q Like-for-Like Sales Beats Estimates
- ORP FP : ORPEA to Sell Retirement Homes in Netherlands for ~EU125M
- PAH3 GY : Porsche's Luxury BEV Mix Drives $80 Billion IPO Despite CEO Move
- RNO FP : Renault Moves Past Hit From Russia Exit With Improved Outlook
- REN PL :REN 1H Net Income EU45.9M Vs. EU39.5M Y/y
- GEG NO : Seabird Exploration Offering Prices at NOK3/Share
- SGEN US : Seagen 2Q Revenue Beats Estimates, Boosts FY Revenue Forecast
- LIGHT NA : Signify 2Q Comparable Sales Beats Estimates
- WAF GY : Siltronic 2Q Ebitda Beats Estimates; Raises Sales Forecast
- SNBN SW : SNB 1H Loss CHF95.2B
- SON PL : Sonae 1H Net Income EU118M Vs. EU62M Y/y
- STAN LN : Standard Chartered 1H Adjusted Pretax Profit Beats Estimates
- SUN SW : Sulzer Sees FY Net Orders +3% to +5%
- SREN SW : Swiss Re First-Half Profit Plunges on Market Turmoil, Ukraine
- TOKMAN FH : Tokmanni 2Q Comparable Ebit Beats Estimates
- UMI BB : Umicore 1H Adjusted EPS Beats Estimates
- DG FP : Vinci 1H Ebit Beats Estimates
- VIS SM : Viscofan 2Q Net Income EU37.4M Vs. EU33.9M Y/y
- VIV FP : Vivendi 1H Ebita Misses Estimates
- WBD IM : Webuild 1H Adjusted Ebitda EU251.3M Vs. EU189.2M Y/y
- MF FP : Wendel 1H Sales EU4.22B Vs. EU3.63B Y/y