U.S. and European equity futures rose Tuesday, while Asian stocks were steady, as investors evaluated the implications of a global wave of monetary tightening to tackle elevated inflation. The Asian session was whipsawed by wild swings in Alibaba Group Holding Ltd. in Hong Kong on a brief bout of concern about the status of co-founder Jack Ma. The worries faded and the city’s stock market turned higher as officials stepped up plans to roll back Covid curbs. Markets in Japan and China are shut. The Alibaba episode did serve to underscore ongoing anxiety about Beijing’s regulatory crackdown on the technology sector, even after the nation’s top leaders last week vowed support for so-called platform firms. Australia’s central bank increased interest rates, implementing a 25 basis points move that was larger than many analysts had expected. It said tighter policy will be needed to meet its inflation goal. The local currency jumped and bonds slid. Treasuries fell Monday, taking the 10-year yield to 3% and sending real yields back above zero. A dollar gauge slipped while remaining in sight of a two-year high. Investors are bracing for the Federal Reserve’s biggest rate hike since 2000. There’s no cash Treasuries trading in Asia due to the Japan holiday. The key question for markets remains whether the global economy can weather the shift toward tighter financial conditions, including reduced central-bank balance sheets. Bouts of optimism have tended to fizzle rapidly this year. In China, authorities continue to fight a Covid outbreak with lockdowns that are hampering both the economy and global supply chains. Oil held at about $105 a barrel. Traders weighed higher demand for refined products against demand risks from China’s slowdown. Dip-buying in the technology sector led U.S. equities higher Monday after a bruising April for global markets. US After Hours HLIT +10.5%, CDLX +8.8%, CAR +7.3%, SANM +3.8%, SEDG +2.6% higher on earnings; CHGG -31%, EVER -15.4%, VRNS -10.7%, FN -8.3% lower on earnings
Nikkei -0.11% Hang Seng +0.32% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.0505 CNH 6.6965 CNY 6.6085 JPY 130.18 GBP 1.2513 CHF 0.9784 RUB 70.97 TRY 14.9055 WTI$ 104.95 -0.21% Gold 1,859.23 -0.20% BTC 38,512 +0.51% ETH 2,843.90 +0.62%
S&P +0.37% Nasdaq +0.41% EuroStoxx +1.28% FTSE -0.65% Dax +1.18% SMI +0.29%
Macro :
- US regulatory scrutiny of ‘complex’ ETFs prompts fears of crackdown
- Citi Says Trader Made Error Behind Flash Crash in Europe Stocks
- JPMorgan’s Kolanovic Sees Rebound as Bearish ‘Fears Overblown’
- Italy Raises Windfall Tax on Energy Firms’ Profits to 25%
Keep an eye on :
- AKSO NO : Aker Solutions 1Q Adjusted Ebitda Beats Estimates
- AOX GY : Alstria Office 1Q FFO EU27.5M Vs. EU29.4M Y/y
- AMS SW : ams-OSRAM 1Q Revenue EU1.25B
- BNP FP : BNP Paribas 1Q FICC Sales & Trading Revenue Beats Estimates
- BRG NO : Borregaard 1Q Operating Revenue Beats Estimates
- CCL LN : Carnival Says Entire Fleet Has Resumed Guest Operations
- 1COV GY : Covestro Cuts FY Ebitda Forecast, Misses Estimates
- 05G GY : S Immo, CPI Property Reach Pact on Offer for Remaining Shares
- DBV FP : DBV Technologies, FDA to Discuss Viaskin Peanut Study Protocol
- DEMANT DC : Demant Sees FY Ebit DKK3.6B to DKK3.9B, Est. DKK3.65B
- DIE BB : Belgian April Car Registrations Sink 23.6%; D’Ieteren Has 22.8%
- DPW GY : Deutsche Post 1Q Ebit Beats Estimates
- DSM NA : DSM 1Q Adjusted Ebitda Beats Estimates
- DUE GY : Duerr Cuts FY Profit After Tax Forecast
- EUCAR FP : Avis Budget Soars as Quarterly Earnings Beat Highest Estimate (CAR +10% in After Hours)
- FCT IM : *NCL IN TALKS WITH FINCANTIERI FOR A NEW $4B ORDER: REUTERS
- IPN FP : Ipsen Says EU Commission Approves Cabometyx for Thyroid Cancer
- ISS DC : ISS 1Q Sales Beats Estimates
- LOGN SW : Logitech Cuts 2023 Adjusted Operating Income Forecast
- MCOVB SS : Medicover Buys Allenort and Laurus for ~EU16 Million in Cash
- NHY NO : Norsk Hydro 1Q Adjusted Ebitda Beats Estimates
- OERL SW : Oerlikon 1Q Sales Beats Estimates
- PSH NA : Pershing Square Holdings April Net Performance -8.1%
- PFV GY : Pfeiffer Vacuum Maintains FY Ebit Margin Forecast
- PSPN SW : PSP Swiss Sees FY Adjusted Ebitda Above CHF285M, Saw CHF285M
- G24 GY : Scout24 SE Sees FY Revenue High End of +11% to +12%
- SHUR BB : Shurgard Signs Long-Term Lease in the Amsterdam Region
- STLA IM : Stellantis Set to Buy Share Now, Repubblica Reports
- TEL NO : Telenor 1Q Ebitda Misses Estimates
- HO FP : Thales to Buy Ruag’s Simulation & Training Business: Le Figaro
- TWTR US : Musk’s Grand Vision for Twitter Faces Reality Check in Asia
- UCB BB : UCB Says Phase 3 Study of Fintepla Met Primary Endpoint
- UCG IM : UniCredit Could Sell Russia Assets to Local Buyer, Sole
- YAR NO : Intrepid Potash 1Q Adjusted EPS Beats Estimates