Asian shares posted modest gains ahead of a US jobs report, with investors awaiting fresh data after recent prints signaled President Donald Trump’s trade war was hurting the US economy. The MSCI Asia Pacific Index inched up 0.2%. Equity-index futures for the US rose 0.1% after the S&P 500 closed at another record high Wednesday, helped by Trump’s announcement of a trade deal with Vietnam. Gold dipped 0.2%, its first retreat in four days. Treasuries inched up Thursday. Yields rose in the prior session following heavy selling in the UK, where concerns about Chancellor of the Exchequer Rachel Reeves’ future reignited questions over the nation’s fiscal position. In Japan, investors lapped up 30-year government bonds in an auction, indicating policymakers are having some success in quelling debt-market volatility. The cross-asset moves underscored cautious optimism as traders contend with pockets of uncertainty ahead of jobs data that will help identify the path ahead for interest rates. With stocks at a record high even after Trump ratcheted up trade tensions, investors are closely monitoring economic data before adding to their portfolios. On the Vietnam trade deal, Trump said that the Asian country had agreed to drop all levies on US imports. A 20% tariff will be placed on Vietnamese exports to the US, with a 40% levy on any goods deemed to be transshipped through the country. The deal risks provoking retaliatory steps from China, according to Bloomberg Economics. News of the trade deal boosted Nike Inc. and some exporter stocks amid hopes the accord will avert a potential supply-chain catastrophe. The country set its daily reference rate for the dong at a record low Thursday. Meanwhile, UK Prime Minister Keir Starmer said Reeves will stay on as Chancellor of the Exchequer, as he sought to draw a line under speculation about her future that sparked the bond selloff. Members of Starmer’s ruling Labour Party forced the government to scrap £5 billion ($6.8 billion) worth of cuts to welfare spending on Tuesday evening — making it even harder for Reeves to tame the government’s budget deficit. The pound was little changed against the dollar in Asian trading. Like in the UK, investors have raised concerns in the US. House Republican leaders struggled to find the final votes to advance Trump’s massive tax and spending package. Attention will now turn to nonfarm payroll data due later Thursday — a day earlier than usual due to a holiday Friday. The data will show slower hiring and the highest unemployment rate since 2021 as the Trump administration’s trade and immigration policy shifts start to leave an imprint. Separate private payrolls data from ADP Research on Wednesday showed employment at US companies fell for the first time in over two years. Following that data, traders added to wagers on at least two rate reductions this year, with the first coming in September. If the upcoming jobs report shows further weakness, traders reckon the Fed could move up cuts. US After Hours DDOG +8.4% to join S&P 500; XPOF +21.9% as SEC concludes investigation without action; FC -7% on earnings.
Nikkei -0.08% Hang Seng -0.76% CSI +0.59% Shanghai +0.16% Shenzen +0.84%
Eur$ 1.1789 CNH 7.1624 CNY 7.1644 JPY 143.89 GBP 1.3629 CHF 0.7920 RUB 78.8741 TRY 39.9143 WTI$ 66.91 -0.80% Gold 3,352 -0.15% BTC 109,190 -0.02% ETH 2,586 -0.23%
S&P +0.05% Nasdaq +0.05% EuroStoxx +0.17 FTSE +0.29% Dax +0.24% SMI +0.15%
Macro :
- US Lifts Chip Design Software Curbs on China in Trade Deal (2)
- German Coalition Resists Calls for Broader Electricity-Tax Cut
- SEC’s Atkins Says Agency Will Look at Rules on Blank-Check Firms
- Scaramucci Says Crypto Treasury Company Trend ‘Will Fade’ Away
- *TRUMP ADMIN PAUSES $6B IN EDUCATION PROGRAMS: ABC
- China Willing to Deepen Trade Cooperation With EU, Wang Yi Says
- China Willing to Deepen Trade Cooperation With EU, Wang Yi Says
- Higher US Tariffs Will Bring Recession: Markets Pulse Results
- North Korea Seen Sending Additional 30,000 Troops to Russia: NHK
- Trump Deal Threatens Beijing’s $77 Billion Surplus: China Today
- Poland Won’t Support EU’s New Climate Goal, Minister Says
- Bitcoin’s Original Appeal Fades With Volatility at 2-Year Low
- Retail Traders Beat S&P 500 in June Amid Profit-Taking: JPMorgan
Keep an eye on :
Keep an eye on :
- ADP FP : Paris Air Traffic Control Strike to Cut Flights by 40% on July 4
- AEGN GA : Aegean Airlines Raises €250m From Bond Loan Issue
- AGK LN : ADIA, CVC Said Among Firms Eyeing Stake in $12 Billion Aggreko
- AIR FP : Brazil, France Agree on Helicopter Production in Brazilian State
- AF FP : Paris Air Traffic Control Strike to Cut Flights by 40% on July 4
- APAM NA : Aperam Confirms 2Q ‘25 Outlook
- APP US : *APPLOVIN SHARES FALL 2.4% AFTER DATADOG PICKED TO JOIN S&P 500
- ACHR US : Archer Aviation Rises After Starting Test Flights in Abu Dhabi
- T US : TPG Closes Purchase of at&T’s 70% Stake in DIRECTV
- AZA SS : +5% yesterday on M&A rumors - no comment from Co. - Citi comments this morning 400 PT (+20%) still attractive
- BAKKA NO : Bakkafrost Prelim 2Q Harvest 23,000 Metric Tons
- BARC LN : Barclays Revamps Asia-Pacific Investment Banking Leadership Team
- BNP FP : Asia Hedge Funds Win Bigger Allocations at Manager Bought by BNP
- BA US : Vietnam to Spend $8B on Boeing Aircraft in Trade Deal: Politico
- BORR US : Borr Drilling Offers 50m Shares -17% in After Hours
- BP/ LN : Trinidad Aims to Boost Gas Output With BP, Woodside Projects
- BG US : Bunge Closes Long-Delayed Viterra Deal to Form Crops Powerhouse
- 1211 HK : BYD Indefinitely Delays Planned Mexico Plant Amid Trade War
- COFA FP : Coface SA: Coface Finalises the Acquisition of Cedar Rose Group
- COFA FP : Coface SA: Coface Finalises the Acquisition of Cedar Rose Group
- CBK GY : UniCredit Sent Letters to Germany on Commerzbank in June: SZ
- STZ US : Constellation Brands Guidance ‘Better Than Feared’: Street Wrap
- DTG GY : Class 8 Truck North American Orders Fall 32% YoY in June
- DDOG US : Datadog to Join S&P 500, Juniper to Exit After Takeover by HPE
- DD US : Private Equity Groups Vie to Buy $2b of DuPont Assets: FT
- EQT SS : EQT, Eurazeo Lead $700 Billion Wave of Firms Eying the UAE
- RF FP : EQT, Eurazeo Lead $700 Billion Wave of Firms Eying the UAE
- FCT IM :
- GLEN LN : Glencore Launches $1 Billion Buyback as Viterra Deal Closes
- GLEN LN : Glencore Launches $1 Billion Buyback as Viterra Deal Closes
- GLJ GY : Grenke 2Q Leasing New Business Volume EU867.4M Vs. EU790.3M Y/y
- IMPN SW : Implenia Wins German, Swiss Contracts Worth About CHF200M
- INO US : Inovio Offers Shares, Warrants via Piper Sandler -16% in After Hours
- INLOT GA : PE Sub Holdings Submits Mandatory Offer for Intralot
- IVG IM : Class 8 Truck North American Orders Fall 32% YoY in June
- JNPR US : Datadog to Join S&P 500, Juniper to Exit After Takeover by HPE
- LCID US : Lucid 2Q Vehicles Delivered Misses Estimates
- MC FP : Armani Group FY24 Revenue €2.3B, -5% Y/Y at Constant FX
- MRVL US : Marvell Shares Drop on Report Microsoft Revising AI Chip Plans
- MAU FP : M&P to Buy Additional 21% Stake in Sinu-9 Block in Colombia
- META US : Leaked docs reveal Meta is training its chatbots to message you first, remember your chats, and keep you talking
- MOGO CN : Mogo Shares Climb 217% on $50 Million Bitcoin Treasury Plan
- MB IM : Monte Paschi to Kick Off Mediobanca Takeover Offer on July 14
- BMPS IM : Monte Paschi to Kick Off Mediobanca Takeover Offer on July 14
- 5401 JP : Nippon Steel Obtains Subordinated Term Loans of Up to ¥500b
- NDX1 GY : Nordex Wins Orders in UK, Belgium, France Totaling 135 MW
- NOVN SW : Novartis Phase III GCAptAIN Study Did Not Meet Primary Endpoint (Horton sickness / 7.6/100,000 over 50 in France)
- NOVOB DC : Novo Nordisk Estimates Cut at Intron on Weaker Ozempic Outlook
- ORCL US : Oracle, OpenAI Expand Stargate Deal for More US Data Centers
- PLX FP : Pluxee 3Q Revenue EU310M Vs. EU297M Y/y
- QIA GY : Qiagen Adjusts Conversion Price of Convertible Bonds Due 2031
- RDC GY : Redcare Pharmacy NV Prelim 2Q Revenue EU709M
- REIN LX : Reinet Approached by Athora for PIC Stake; Implied Price ~£5.7b
- RIO LN : Rio Tinto-Backed Aluminum Firm to Invest $1.1 Billion in Canada
- SIE GY : Siemens Says US Has Rescinded Chip Software Curbs on China
- SOFI US : Trump’s Tax Bill Set to Help SoFi, Other Private Student Lenders
- SXS LN : KKR Seeks to End UK Rough Patch With Strong Bid for Spectris
- STLA US : Stellantis Could Face €2.6B Fine Over CO2 Rules: Figaro (July 2)
- TSLA US : Tesla Rallies on Investors Betting EV Sales Have Bottomed (1)
- TKA GY : Thyssenkrupp Gains on Report That Germany Won’t Seek TKMS Stake
- TITC BB : Titan Appoints John Ioannou as New CFO From November 1
- TTE FP : TotalEnergies Invests in AES Renewables Assets in the Caribbean
- TTE FP : Mozambique President Urges Total LNG Restart Despite Risks
- 8TRA GY : Class 8 Truck North American Orders Fall 32% YoY in June
- TRIP US : Starboard Value Takes More Than 9% Stake in Tripadvisor, Sources Say -- WSJ
- UBER US : Canadian Uber Drivers Join Union, Seeking First Collective Deal
- UBER US : Uber-Backed Moove to Raise $1.2 Billion in Debt for Waymo Fleet
- UBI FP : Ex-Ubisoft Employees Convicted in Sexual Harassment Case: AFP (Not P Diddy)
- UCG IM : UniCredit Sent Letters to Germany on Commerzbank in June: SZ
- VEON US : Veon Raises $200m in Private Bond Placement
- WLN FP : Worldline Hires Auditor to Assess Risky Client Portfolio
- 1810 HK : Xiaomi CEO: Less Than 15% of YU7 Orders Switched From SU7
- XPOF US : *XPONENTIAL FITNESS: SEC CONCLUDED PROBE WITHOUT ACTION +8% in After HOurs