Most Asian stocks fell Tuesday as traders digested the latest coronavirus curbs in China and awaited key central bank decisions amid concerns about elevated inflation. The yen strengthened.
Shares slid in China, where authorities in Beijing halted classes at 18 schools in one district after a teacher was infected with Covid-19. The investor mood was a little brighter in Hong Kong, aided by a jump in the city’s index of Chinese technology stocks. U.S. and European futures wavered following an overnight record on Wall Street.
The U.S. 10-year Treasury yield and the dollar were little changed ahead of the Federal Reserve meeting. The policy review comes amid price pressures stoked by the most-widespread U.S. supply crunch since the oil crisis of 1973. The Fed is expected to announce a tapering of its bond-purchase program. The earnings season has underpinned the equity market, countering worries about inflation and tighter monetary policy. But pandemic-era supply-chain challenges coupled with higher energy costs could become a bigger test if they feed into wider, more enduring price pressures. Bank of England policy makers head into their Nov. 4 gathering knowing that a failure to deliver a once-unthinkable interest-rate hike would raise questions over their credibility with markets. In the U.S., more than 80% of companies in the S&P 500 reporting third-quarter results have topped Wall Street estimates. At the same time, data showed supply-chain bottlenecks weighed on the nation’s manufacturers in October. President Joe Biden’s $1.75 trillion tax and spending package appeared to hit a fresh challenge, after Senator Joe Manchin said Congress needs more time to assess its impact.
Iron ore futures extended losses below $100 a ton on expectations of lower Chinese steel output. Oil traded around $84 a barrel. Bitcoin edged up to $61,700.
US After Hours ANET +13.8% jumps on earnings and stock split; FN +13.7%, UNVR +9.9%, CAR +5.1%, HLIT +5.1% also up on earnings; IBM to remain in Dow post spin-off; CHGG -27.7%, NBIX -6.8%, VRNS -4.7%, RMBS -3.4% lower on earnings
Nikkei -0,39% Hang Seng +0,07% CSI -1,53% Shanghai -1,57% Shenzen -1,28%
Eur$ 1,1604 CNH 6,3963 CNY 6,3987 JPY 113,69 GBP1,3657 CHF 0,9094 RUB 71,4421 TRY 9,5543 WTI$ 84,27 Gold 1,793 BTC 61,770 +1,77% ETH 4,39à +1,52%
S&P -0,12% Nasdaq -0,05% EuroStoxx -0,20% FTSE -0,16% Dax -0,20% SMI
Macro :
- Chinese ADR Stocks Index Jumps 4%, With Tech Firms Gaining
- October Was Worst Month for IPO Prices Since 2015: ECM Watch
Keep an eye on :
- ADEN SW : Adecco 3Q Revenue Misses Estimates
- ADS GY : Anta, Li Ning Set to Blunt Singles’ Day Revival for Nike, Adidas
- AMS SW : AMS 3Q Revenue Beats Estimates
- AAPL US : Apple Cuts iPad Production to Use Chips in iPhone 13: Nikkei
- AZN LN : Astra to Source Vaccines for Southeast Asia From Other Regions
- BCHN SW : Burckhardt Sees FY Revenue CHF620M to CHF650M
- BAVA DC : Bavarian’s Covid-19 Vaccine to Beat Peers, CEO Tells Borsen
- BP/ LN : BP 3Q Adjusted Net Beats Estimates
- DMGT LN : Rothermere Close to A Deal With Trustees of DMGT, Sky Says
- DEMANT DC : Demant Boosts FY Ebit Forecast, Beats Estimates
- DTE GY : T-Mobile Outlook Muted After Peers’ Strong Results: Preview
- DGE LN : Diageo to Make Whisky in China in Bid to Woo Premium Drinkers
- DSM NA : DSM 3Q Adjusted Ebitda Meets Estimates
- ENGI FP : Bain, Bouygues, Eiffage to Submit Final Bids for Engie Unit: FT
- ENGI FP : NHOA: Engie Has Abandoned Solar/Storage Project in Hawaii
- ENI IM : Eni Said to Increase Stake in World’s Largest Offshore Wind Farm
- EBS AV : Erste 3Q Net Income Beats Estimates, Cuts Risk-Cost Guidance
- EUCAR FP : Avis Budget 3Q Adjusted EPS Beats Estimates
- EUCAR FP : Musk: ‘No Contract Has Been Signed Yet’ on Hertz
- FLTR LN : Fanduel, DraftKings Among Bidders for The Athletic: Information
- FFARM NA : ForFarmers 3Q Gross Profit Up by 2.6%
- FME GY : Fresenius Medical 3Q Operating Income Meets Estimates
- FME GY : Fresenius Medical to Cut Up to 5,000 Jobs in Next Phase of FME25
- FRE GY : Fresenius SE 3Q Sales Meet Estimates
- HFG GY : HelloFresh Boosts FY Sales At Constant FX View, Beats Est.
- HIAG SW : HIAG Immobilien to Issue up to 1.69M New Shares; Range CHF94-96
- IAG LN : *IAG'S IBERIA ASKS SPAIN TO ENTER AIR EUROPA'S CAPITAL: EL CONFI
- KOJAMO FH : Sweden’s Heimstaden Bostad Increases Stake in Kojamo to 10%
- KN FP : Natixis May Seek Asset Management IPO to Finance M&A Deal: FT
- NCCB SS : NCC 3Q Operating Profit Beats Estimates
- NHOA FP : NHOA: Engie Has Abandoned Solar/Storage Project in Hawaii
- NHY NO : In Race to Net Zero, Being Small or Diverse Foils Metal Makers
- PSH NA : Pershing Square Holdings Oct. Net Performance +8.5%
- SAE GY : Shop Apotheke Sees FY Revenue Low End Of +10% to +15%
- SINCH SS : Sinch 3Q Adjusted Ebitda Beats Estimates
- 9984 JP : SoftBank Said to Explore Options Including Sale of Fortress
- STAN LN : StanChart Has $4.2b China-Related Commercial Property Exposure
- STLA IM : Stellantis Offers Buyouts to Eligible U.S. Workers: CNBC
- THG LN : THG Holder BlackRock Offers ~55m Shares via Goldman Sachs: Terms
- UBSG SW : Goldman Hires From UBS, BNP to Expand Wealth Business in Mideast
- YAR NO :
- Z01 GY : H&F, EQT Offer for Zooplus Acceptance Rate at About 26%