Bets on monetary policies drove Asian markets, with stocks edging lower as traders wait on the Federal Reserve meeting later Wednesday. Bond traders have lowered bets on US rate cuts this year, with the odds of a reduction in March dropping to about one-in-three. Sentiment was also sapped by poor economic data from China and a fourth straight quarter of profit decline for Samsung Electronics Co., the world’s biggest memory chipmaker, adding to the drum-roll of disappointing US tech earnings. Japanese bond yields rose as a summary of the Bank of Japan’s meeting signaled it’s getting closer to raising its interest rate for the first time since 2007, with one member even warning against missing the opportunity to act. Australian equities headed for a new high after soft inflation data bolstered bets for monetary policy easing. The local dollar and yields on the government bonds fell. Hong Kong stocks led the decline in Asia after data showed another month of contraction in China’s factory activity. Mainland shares were close to wiping out all the gains spurred by hopes of stronger support measures by the authorities. Contracts for US stocks slipped on disappointing earnings from key US technology companies Microsoft Corp. and Alphabet Inc. The dollar strengthened against all of its Group-of-10 peers. Treasury two-year yields and ten-year yields slipped in Asian trading. Swap contracts referencing the March Fed meeting date — the next one after this week’s — now show about a third of a 25-basis-point drop. Late last year, a quarter-point cut in March was completely priced in, reflecting expectations for labor-market cooling that have failed to materialize. US job openings unexpectedly rose in December to the highest level in three months while fewer Americans quit their jobs. The data kicks off a slew of releases that will offer insights into the state of the labor market. A report due Wednesday is forecast to point to easing employment costs at the end of 2023, while the government’s jobs report Friday is projected to show US employers added around 185,000 positions in January. In earnings, Samsung Electronics said its profit fell 74% in the last three months of the year, after a long-awaited recovery in chip and electronics demand delivered few returns. China’s battery giant Contemporary Amperex Technology Co. Ltd. posted a jump in full-year earnings, allaying investor concerns that profitability could be waning. Alphabet Inc. sank after reporting revenue from its core search advertising business that fell short of estimates. Elsewhere, oil headed for its first monthly gain since September as an escalation of attacks on ships in the Red Sea spurred a diversion of tanker traffic and raised fears about a wider conflict in the Middle East. US After Hours WMT +1% 3-for-1 stock split; SBUX +4.4%, SYK +3.8%, SWKS +3.4% higher on earnings; MSFT flat on earnings; RHI -11.4%, AMD -5.6%, GOOG -5.3%, MDLZ -2.1%, EA -1.9% lower on earnings
Nikkei +0.61% Hang Seng -1.37% CSI -0.38% Shanghai -0.99% Shenzen -2.55%
Eur$ 1.0821 CNH 7.1901 CNY 7.1817 JPY 147.75 GBP 1.2678 CHF 0.8630 RUB 89.7533 TRY 30.3641 WTI$ 77.65 -0.22% Gold 2,035.5 -0.08% BTC 42,990 -1.28% ETH 2,337 -1.82%
S&P -0.44% Nasdaq -0.87% EuroStoxx -0.09% FTSE -0.03% Dax -0.11% SMI -0.21%
Macro :
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Keep an eye on :
Keep an eye on :
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- AMD US : AMD 4Q Revenue Meets Estimates
- AOF GY : Atoss Software FY Ebit Margin 34%
- ATRLJB SS : Atrium Ljungberg 4Q Rental Income Matches Estimates
- BAMI IM : Banco BPM May Sell Around €400m Leasing Portfolio: MF
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- BYS SW : Bystronic: Domenico Iacovelli to be CEO as Alex Waser Retires
- CAI AV : CA Immo Sees 4Q Net Property Revaluation Loss of Around EU375m
- DIS US : Peltz’s Plan to Fix Disney Includes Bundling ESPN+ With Netflix
- DNB NO : DNB Bank 4Q Net Interest Income Misses Estimates
- ELIS FP : Elis Sees FY Ebitda Margin About 34.2%, Est. 33.6%
- ELIS FP : Elis Sees FY Ebitda Margin About 34.2%, Est. 33.6%
- GSK LN : GSK 4Q Revenue Beats Estimates
- HMB SS : H&M 4Q Gross Profit Meets Estimates
- IMCR US : Immunocore Prices $350m Convertible Senior Notes Offering
- INCP LN : Investec Sees Rebound in South Africa Deals as Economy Recovers
- JNPR US : Juniper 4Q Adjusted EPS Misses Estimates
- KPN NA : KPN 4Q Adjusted Ebitda After Leases Meets Estimates
- LOOMIS SS : Loomis 4Q Ebita Misses Estimates
- ML FP : Michelin ‘Categorically’ Contests Anti-Competitive Practices
- MSFT US : Microsoft 2Q Revenue Beats Estimates: Snapshot
- MUV2 GY : Munich Re, Swiss Re's Storm-Cost Spike Reflects the New Normal
- NEX FP : Nexans: Three Sites Searched by French Competition Authority
- NOVOB DC : Novo FY Sales Beats Estimates
- POLY LN : Polymetal 4Q Revenue $876M Vs. $1.04B Y/y
- PRS SM : Prisa to Issue Convertible Notes For About €100m
- RBI AV : Raiffeisen Forecasts 2024 Results
- RILBA DC : Ringkjoebing Landbobank FY Pretax Profit Beats Estimates
- SAN SM : Santander 4Q Net Income Beats Estimates
- SAP GY : SAP Offers Existing Customers Cloud Discounts Up to 50% in 2024
- SK FP : SEB Boosts FY Op. Result From Activity Guidance
- SKFB SS : SKF 4Q Adjusted Operating Profit Beats Estimates
- SSAB SS : SSAB 4Q Adjusted Ebitda Beats Estimates
- TIT IM : Italy, KKR Agree Terms of Bid for Tim’s Unit Sparkle: Reuters
- UMG NA : Universal Music Accuses TikTok of Intimidation in Deal Talks
- VIV FP : Vivendi Is Proposing to Break Up Bolloré Media Empire Into Four
- WRT1V FH : Wartsila 4Q Adjusted Ebit Misses Estimates
- VOW GY : Lamborghini Sees Full Order Books as Super Rich Keep Shopping