Asian stocks and currencies fell after Jerome Powell said the Federal Reserve would raise interest rates more than previously anticipated, sapping risk appetite. Benchmark equity gauges in Asia fell in the wake of the S&P 500’s 2.5% drop, though declines in most markets were less than in the US. Shares in Hong Kong and on the mainland underperformed after an affirmation of the government’s Covid-Zero stance dashed hopes of a reopening. The Fed raised rates 75 basis points for the fourth time in a row, bringing the top of its target range to 4%, the highest level since 2008. Traders immediately raised the market-implied peak in interest rates for next year. Two-year Treasuries led a selloff on Wednesday following Powell’s comments, but at 4.62% they are still about 40 basis points below the 5.06% peak in yields priced into Fed funds futures. the dollar fell against all of its Group-of-10 counterparts as investors pivoted toward US jobs data, which may help to determine the pace of upcoming rate hikes. An index of emerging-market currencies declined. Wheat prices fell after Russia agreed to resume a deal allowing safe passage of Ukrainian crop exports. Oil dropped after Powell’s comments on interest rates overshadowed tightening supply. US After Hours Very busy earnings night; ETSY +10%, EBAY +7.3%, BKNG +4.7% are key names on upside; ROKU -17.9%, QCOM -6.5%, MGM -3.2% on downside
Nikkei -0.06% Hang Seng -2.70% CSI -0.70% Shanghai -0.10% Shenzen +0.03%
Eur$ 0.9826 CNH 7.3169 CNY 7.2972 JPY 147.34 GBP 1.1409 CHF 1.0024 RUB 61.3063 TRY 18.6152 WTI$ 89.52 -0.53% Gold 1,636.78 +0.10% BTC 20,373 +02.98% ETH 1,551.80 +2.67%
S&P +0.17% Nasdaq +0.24% EuroStoxx -0.80% FTSE -0.63% Dax -0.65% SMI -0.33%
Macro :
- Germany Seeks Cooperation With China, but Acknowledges Disputes
Keep an eye on :
- ADEN SW : Adecco 3Q Revenue Meets Estimates
- AIR FP : Problem-plagued Boeing Sets Ambitious Turnaround Targets
- ALM SM : Nazzi Steps Down as Almirall CEO, Gallardo Named Interim CEO
- AMBEA SS : Ambea 3Q Net Sales Beats Estimates
- AMG NA : AMG Sees FY Ebitda at Least $320M, Saw $280M to $300M
- ASML NA : US to Amp Up Pressure on Dutch to Block Chip Gear Sales to China
- CS FP : Axa 9M Revenue EU78.4B Vs. EU76B Y/y
- BMPS IM : Banca MPS: Unexercised Rights to Be Used for New Shrs at EU2/Shr
- BMW GY : BMW 3Q Ebit Beats Estimates
- BNP FP : BNP Paribas 3Q Net Income Beats Estimates
- CAV1V FH : Caverion 3Q Revenue Beats Estimates
- CGG FP : CGG 3Q Segment Revenue Misses Estimates
- COP GY : CompuGroup Narrows FY Organic Revenue Forecast
- COOL NO : Cool Offering by Co. and Holder Golar LNG Prices at NOK130/Share
- BN FP : FDA: Some Danone, a2 Milk Infant Formula Cleared for Sale
- DIC GY : DIC Asset Cuts FY FFO Forecast
- DUFN SW : Dufry 3Q Sales Misses Estimates
- ECV GY : Encavis Increases Stake in Stern Energy to 80%; No Terms
- ZIL2 GY : ElringKlinger 3Q Ebit Matches Estimates
- EQT SS : EQT Partners in Talks to Buy SK Shieldus Stake for 2t Won: Daily
- EO FP : Forvia Targets Sales of About €30B in 2025
- GEBN SW : Geberit Cuts FY Ebitda Margin Forecast
- GN DC : GN Store Nord Cuts FY Audio Organic Rev Growth Forecast
- HNR1 GY : Hannover Re 3Q Ebit Beats Estimates
- HEI GY : Heidelberg Materials 3Q Oper Ebitda Matches Estimates
- BOSS GY : Hugo Boss Boosts FY Ebit Forecast
- INGA NA : ING 3Q Net Income Misses Estimates
- ISS DC : ISS' New 6.5% Organic-Growth Goal Propelled by Pricing: React
- KCO GY : Kloeckner Maintains FY Adjusted Ebitda Forecast
- KOJAMO FH : Kojamo 3Q Revenue Beats Estimates
- LR FP : Legrand 9M Adjusted Operating Profit Matches Estimates
- LNZ AV : Lenzing 9M Ebitda EU263.0M Vs. EU297.6M Y/y
- OR FP : L’Oréal Suspends Advertising Spending on Twitter, FT Says
- MFEB IM : MFE-MediaForEurope Raises Stake in ProSiebenSat.1 Media
- NETC DC : Netcompany Narrows FY Sales at Constant Exchange Rates Forecast
- NOVOB DC : Novo Nordisk Shot Helps Teens Lose Weight, Journal Study Says
- OCI NA : OCI 3Q Adjusted Ebitda Beats Estimates
- OERL SW : Oerlikon Sees FY Sales Above CHF2.9B, Saw About CHF2.9B
- PFV GY : Pfeiffer Vacuum 3Q Ebit EU33.9M Vs. EU25.9M Y/y
- PSM GY : MFE-MediaForEurope Raises Stake in ProSiebenSat.1 Media
- RAA GY : Rational 3Q Net Income Beats Estimates
- RBI AV : Raiffeisen Sees FY Net Interest Income About EU4.8B
- SCATC NO : Scatec 3Q Ebitda Beats Estimates
- G24 GY : Scout24 SE Narrows FY Revenue Forecast
- SESG FP : SES 3Q Adjusted Ebitda Meets Estimates
- SGL GY : SGL 9M Adjusted Ebitda EU136.1M Vs. EU108.5M Y/y
- SHUR BB : Shurgard 9M Property Operating Revenue +12%
- SW FP : Sodexo Can Do ‘Significant’ M&A But Sticking to Bolt-Ons for Now
- SOLB BB : Solvay 3Q Adjusted Ebitda EU917M Vs. EU599M Y/y
- STLA IM : *STELLANTIS 3Q NET REV. EU42.1B, EST. EU41.1B
- TIT IM : Telecom Italia Is Said to Plan Start of Business Unit Stake Sale
- 02D GY : Telefonica Deutschland 3Q Adjusted Oibda Meets Estimates
- TTE FP : TotalEnergies Accused of Downplaying Carbon Emissions in Company
- TNG FP : Transgene Says TG4001 Showed Positive PFS in Interim Analysis
- UN01 GY : *UNIPER 9-MONTH NET LOSS ABOUT EU40B ON CURTAILED RUSSIAN GAS
- UN01 GY : Uniper Suffers €40 Billion Loss Amid Russian Gas Supply Cuts
- VIE FP : Adnoc Refining Sells Waste Mgmt Ops to ADQ, Veolia,Vision Invest
- VOD LN : KKR Said to Vie With Cellnex for $14 Billion Vodafone Tower Arm
- ZAL GY : Zalando Sees 2022 Revenue at Low End of Guidance as Sales Grow