An Asian stock index fell Friday and a dollar gauge hovered near a record high ahead of key US jobs data that could stir expectations for another sharp Federal Reserve interest-rate hike. Drops in Japan and Hong Kong sapped the region-wide equity index, while China’s bourses were mixed. US futures wavered after Wall Street snapped a four-day losing streak to eke out modest gains. The jobs update Friday is expected to show healthy payrolls growth and follows a stronger-than-expected US manufacturing report. Traders increasingly anticipate another large 75 basis points Fed rate rise to cool inflation. The two-year Treasury yield was close to the highest since 2007 against that backdrop, while the Bloomberg Dollar Spot Index inched back from the unprecedented level hit Thursday. The yen and the euro strengthened. Global bonds as a whole slumped into their first bear market in a generation: the Bloomberg Global Aggregate Total Return Index of government and investment-grade corporate bonds is down more than 20% from a 2021 peak. Oil bounced above $87 a barrel, undoing some of the losses sparked by China’s move to lock down the metropolis of Chengdu to curb Covid. The latter step amplified worries about the commodity demand outlook. US After Hours LULU +9.3%, PD +7.4%, AVGO +2%, SMAR +1.9% higher on earnings; OXM -6.1%, NX -2.1% lower on earnings
Nikkei -0.18% Hang Seng -1.14% CSI -0.72% Shanghai -0.15% Shenzen +0.10%
Eur$ 0.9962 CNH 6.9087 CNY 6.9021 JPY 140.29 GBP 1.1543 CHF 0.9811 RUB 60.1116 TRY 18.2083 WTI$ 88.32 +1.99% Gold 1,699.25 +0.10% BTC 20,190 +0.60% ETH 1,595.90 +0.98%
S&P -0.18% NAsdaq -0.19% EuroStoxx +0.89% FTSE +0.49% Dax +1.06% SMI
Macro :
- Investors Flee From Junk Bond Funds Amid $5 Billion Outflow
- Germany Turns More Pessimistic on Russian Gas This Winter
- Oil Sinks Further in Test of OPEC’s Resolve Amid Demand Concerns
- BofA Sees Cracks Finally Forming in Traders’ S&P 500 Bearishness
- EU Sees Limits in What Power-Price Intervention Can Achieve
- Bitcoin Dips Below $20,000 for a Sixth Session as ‘Fear’ Sets In
Keep an eye on :
- ABVX FP : Announces successful oversubscribed €49.2M cross-over financing with top-tier US and European Biotech investors; May consider further equity financing
- ADS GY : Lululemon Jumps on Outlook Boost, Defying Inflation’s Drag
- AGLX NO : Agilyx Offering of 6.26m Shares Prices at NOK24/Share
- BARRA NO : Barramundi Group Exploring Strategic Options for Australian Ops
- BAYN GY : Bayer Wins Fifth Straight Trial Over Roundup Cancer Claims
- CSGN SW : Credit Suisse to Launch China Wealth Business in 2023: Reuters
- DTE GY : FCC Concludes 2.5 GHz Auction; Awards T-Mobile $304M in Bid
- DIE BB : Belgian August Car Registrations Rise 7.0%; D’Ieteren Has 22.2%
- EDF FP : EDF Ex-Trading Chief Marcello Romano Joins Energy Hedge Fund
- GEM NO : Green Minerals Offering of 1.16m Shares Prices
- NFLX US : EU Wants Telcos to Prove Netflix, YouTube Should Pay for Traffic
- NOKIA FH : Nokia, Nordea to Join Euro Stoxx 50; Kone, Philips to Exit
- NDA SS : Nokia, Nordea to Join Euro Stoxx 50; Kone, Philips to Exit
- PSH NA : Pershing Square Holdings Aug. Net Performance +2.9%
- PHIA NA : Nokia, Nordea to Join Euro Stoxx 50; Kone, Philips to Exit
- PRX NA : Prosus Sells Over 3.9 Million Tencent Shares in the First Falf
- RIO LN : SailingStone Doesn’t Support Rio Tinto Offer for Turquoise Hill
- RIO LN : Rio Bid for Turquoise Hill Stake Too Low, Says Top Five Investor
- SGO FP : Saint-Gobain Enters Talks to Divest Crystals and Detectors Unit
- SHEL LN : Shipper Wellnord May Buy Shell Stake in Russian JV: Kommersant
- SHEL LN : Shell to Sell Aera Energy Stake to IKAV for About $2b Cash
- AM3D GY : Nikon Is Said to Near Deal to Buy Elliott-Backed SLM Solutions