Equities edged higher ahead of the Federal Reserve’s policy meeting Wednesday after a cautious open in Asia as Chinese stocks continued to climb from lows struck at the beginning of the week. The Hang Seng Index headed for its best two-day run since March and mainland shares also climbed as investors tried to weigh speculation that China may scrap its Covid-zero policy. A gathering of global bank executives in Hong Kong also helped support sentiment in the financial hub. Japan’s Topix fluctuated while shares in South Korea and Australia advanced. European and US stock futures climbed following a drop in the S&P 500 on Tuesday that was triggered by a surprise rebound in job openings. Separate US manufacturing figures showed new orders contracted in October for the fourth time in five months, painting a less-rosy picture of the economy. The data came ahead of the Fed meeting that is expected to see the central bank raise interest rates by 75 basis points for the fourth time in a row, bringing the upper limit of its target range to 4%. The US 10-year yield trarded just above 4% while the more policy-sensitive two-year yield stayed near to 4.5%. Shares in Japan-listed Sony jumped as much as 12% on better-than-expected PlayStation production figures. Shares in Advanced Micro Devices Inc., the US-listed computer chip company, rose in after-hours trading following third-quarter earnings that topped estimates as the company made further inroads into the lucrative server chip market. dollar fell and gold was steady. Oil rallied on reports of dwindling US stockpiles. The yen strengthened in a sign traders anticipate a muted impact of Fed tightening on the currency. US After Hours ROG -39.9% falls as DD terminates deal; MTCH +16.9%, CRUS +5.7%, CZR +4.8%, AMD +4% higher on earnings; ZI -20.4%, CDLX -13.7%, FRPT -7.4%, ABNB -7.1%, CAKE -6.5% lower on earnings
Nikkei -0.10% Hang Seng +2.43% CSI +1.73% Shanghai +1.54% Shenzen +1.84%
Eur$ 0.9888 CNH 7.2873 CNY 7.2747 JPY 147.49 GBP 1.1509 CHF 0.9981 RUB 63.2481 TRY 18.6141 WTI$ 89.54 +1.32% Gold 1,651 +0.18% BTC 20,485.50 +0.03% ETH 1,586.45 +0.69%
S&P +0.12% Nasdaq +0.21% EuroStoxx +0.38% FTSE +0.23% Dax +0.31% SMI +0.52%
Macro :
- BofA Study Closest to Signaling Buy on US Stocks In Five Years
Keep an eye on :
- AMS SW : AMS-Osram Sees 4Q Revenue EU1.15B to EU1.25B
- AG1 GY : AUTO1 3Q Revenue Beats Estimates
- BARN SW : Barry Callebaut Named Jo Thys COO Effective Jan. 1
- BSLN SW : Basilea Sells Preclinical Oncology Program to Twentyeight-Seven
- CLX US : Clorox 1Q Adjusted EPS Beats Estimates
- CSGN SW : Qatar Investment Authority plans to raise Credit Suisse stake
- CSGN SW : Credit Suisse Downgraded by S&P on Risks to Planned Overhaul
- DEMANT DC : Demant Cuts FY Organic Rev. Forecast; Halts Buyback and Cuts Job
- EA US : EA Cuts FY Net Bookings Forecast, Misses Estimates: Snapshot
- EQT SS : EQT Said to Lead Bidding for Stake in $9 Billion Tower Firm TDF
- EXO NA : Exor Names Suzanne Heywood COO
- HEIJM NA : Heijmans 3Q Order Book EU2.4B Vs. EU2.2B Y/y
- NK FP : Imerys 3Q Revenue EU1.12B Vs. EU924M Y/y
- EMG LN : US Recession ‘Inevitable’ to Curb Inflation, Says Man Group CEO
- HPOLB SS : Hexpol to Buy 100% of Shares in McCann Plastics for $120 Million
- MEKKO FH : Marimekko 3Q Adjusted EPS Misses Estimates
- MRK GY : Merck KGaA Treatment Granted Orphan Drug Status by FDA
- MDLZ US : Mondelez Sees FY Organic Net Revenue at Least +10%, Est. +8.96%
- NOEJ GY : Norma 3Q Revenue Beats Estimates
- NOVOB DC : Novo Nordisk Boosts FY Sales at Constant Exchange Rates Forecast
- PDX SS : Paradox Interactive Jumps on 3Q Beat; Citi Sees Robust 4Q
- PSH NA : Pershing Square Holdings Oct. Net Performance +9.9%
- PGS NO : PGS Offering of 229.3m Shares Prices at NOK6.70/Share
- RAIVV FH : Raisio 3Q Adjusted EPS Misses Estimates
- ROG US : DuPont Reports Termination of Intended Rogers Acquisition
- SINCH SS : Sinch 3Q Net Sales SEK7.20B Vs. SEK3.94B Y/y (1)
- SW FP : Sodexo Sees 2025 Adjusted Operating Margin Above 6%
- STMN SW : Straumann 3Q Revenue Meets Estimates
- TLX GY : Talanx Unit to Buy 60% of Fiba Pension and Life, Form Digital JV
- UBI FP : EA Slips on Mixed Results, Lower Bookings Outlook: Street Wrap
- VRLA FP : Verallia to Buy Allied Glass in the UK at Ent. Value £315m (1)
- VOW GY : Ford, VW Seeking Buyer for Argo AI’s Lidar Unit: TechCrunch