European stock futures rose, following a rally across Asian equities and currencies as traders embraced riskier assets on prospects the Federal Reserve’s tightening cycle is nearing an end. The MSCI’s Asia benchmark gained more than 1% on Friday, on track for its best week in two months. Gauges in Hong Kong led the region’s advance. US equity futures slipped following underwhelming results from Apple Inc. Contracts for Euro Stoxx 50 ticked higher ahead of eurozone unemployment data Friday. The Korean won rose more than 1% against the greenback, the most among Asian currencies. A Bloomberg index of the dollar slipped for the third session, set for its steepest weekly decline since mid-July. Traders are also turning their attention to the US nonfarm payroll data due later in the day for further conviction on the Fed’s rate path. Bloomberg Economics expects the pace of hiring to slow to less than half of September’s strong gain. Data released ahead of payrolls showed US labor productivity advanced by the most in three years, helping to alleviate the inflationary impact of recent wage growth. Long-dated Treasury yields fell Thursday. The 10-year benchmark slipped nearly eight basis points. Trading in Treasuries in Asia will be closed given the holiday in Japan. UBS anticipates the 10-year Treasury yield to fall to 3.5% by June next year, as the Fed shifts its attention from rate hikes to rate cuts, according to Solita Marcelli, chief investment officer for Americas, at UBS Global Wealth Management. “The improving outlook for a softish landing for the US economy should also provide a positive backdrop for equities,” she said. Others hold a more cautious view. Hedge fund K2 Asset Management is predicting that benchmark 10-year Treasury yields will rise back to 5% — from 4.66% — while Franklin Templeton says they could peak at 5.25% — a level last seen in 2007. Barclays Plc co-head of global markets Stephen Dainton said it is “very unlikely” the Fed is done tightening policy. Oil was set for a second weekly loss as the Israel-Hamas war remained contained and clouds appeared on the demand horizon. Gold headed for its first weekly decline in four. Bitcoin fell Friday after Sam Bankman-Fried was convicted of a massive fraud that led to the collapse of his FTX exchange. US After Hours Busy earnings session, led by AAPL -3.4%; BILL -28%, FTNT -16.7%, FND -14.7%, FOXF -14.6%, TEAM -10.4%, BKNG -4.2%, OLED -4.2%, COIN -4% also lower on earnings; DOCN +18.4%, SQ +15.9%, TRUP +10%, PARA +4.9% higher on earnings.
Nikkei +1.10% Hang Seng +2.60% CSI +0.80% Shanghai +0.67% Shenzen +1.13%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P -0.08% Nasdaq -0.29% EuroStoxx +0.38% FTSE +0.38% Dax +0.32% SMI +0.51%
Macro :
- JPMorgan Strategists Say Earnings Weakness Due to Commodities
- Arabica Coffee Surges After Stockpiles Plunge to 24-Year Low
Keep an eye on :
Keep an eye on :
- AKER NO : Aker 3Q Net Asset Value per Share NOK862 Vs. NOK770 Q/Q
- AAPL US : Apple Posts Fourth Straight Sales Drop, Longest Slump Since 2001
- MT NA : US Steel Auction Said to Near End With Site Visits Next Week
- ATO FP : Onepoint’s Layani Plans to Be Atos Investor for Long Time: Echos
- CS FP : Axa 9M Revenue EU78.8B Vs. EU78B Y/y
- BG AV : Bawag Gets US Regulatory Approval for Idaho First Bank Deal
- BESI NA : BE Semiconductor to Build Ho Chi Minh City Plant: Media
- BMW GY : BMW’s Automotive Margin Beats Estimates as EV Sales Rise
- BRNL NA : Brunel 3Q Ebit EU18.8M Vs. EU17.4M Y/y
- CAV1V FH : Caverion 3Q EPS Beats Estimates
- CTT PL : CTT 9M Net Income EU35.5M Vs. EU28.3M Y/y
- COR PL : Corticeira Amorim 9M Net Income EU67M Vs. EU64.2M Y/y (1)
- EDP PL : EDP 9M Net Income EU946M Vs. EU518M Y/y
- FFARM NA : ForFarmers Names Kerkhoven Interim CFO; Underlying Ebitda +33.6%
- GBLB BB : GBL 9M Cash Profit EU371M Vs. EU377M Y/y
- KTN GY : Kontron Sees FY Net Income Above EU72M, Saw EU66M
- KRN GY : Krones 3Q Revenue Matches Estimates
- LTMC IM : Lottomatica Sees SKS365 FY 2023 Revenue About €300m
- MC FP : LVMH’s Thelios Buys Safilo Plant in Longarone, Italy (Oct. 31)
- MAERSKB DC : Maersk 3Q Ebitda Meets Estimates
- NEOEN FP : Neoen 3Q Revenue EU120.5M Vs. EU130.5M Y/y
- NOS PL : NOS 3Q Net Income EU45.9M Vs. EU106M Y/y
- RBI AV : Raiffeisen Boosts NII Guidance, Still Assessing Russia Unit
- RBI AV : Raiffeisen Boosts NII Guidance, Still Assessing Russia Unit
- SHUR BB : Shurgard 3Q Property Operating Revenue EU90.7M Vs. EU85M Y/y
- SHL GY : Siemens Healthineers Is Said to Mull Options for Diagnostics Arm
- SIFG NA : SIF 3Q Adjusted Ebitda EU7.1M Vs. EU7.8M Y/y
- SNBN SW : Switzerland, Banks Discuss New Rules to Stop Bank Runs: Reuters
- GLE FP : SocGen’s Revenue, Profit Slump as Hedges Hurt French Retail Unit
- SOLVB BB ; Solvay 3Q Adjusted Ebitda Misses Estimates
- SOLB BB : Solvay CEO Ilham Kadri to Become CEO of Syensqo Standalone Co
- SPIE FP : Spie 3Q Revenue Beats Estimates
- SREN SW : Swiss Re 9M Net Income $2.47B Vs. Loss $285M Y/y
- STLAM IM : Stellantis Deal Includes $19 Billion in US Investment, UAW Says
- SYAB GY : Synlab Boards Say Cinven Offer Doesn’t Reflect Long-Term Value
- TEMN SW : Temenos Falls; FuW Says Takeover Could Be Off The Table For Now
- TIT IM : Vivendi Urges Telecom Italia to Look at Merlyn Plan for Grid (1)
- VIV FP : Vivendi Urges Telecom Italia to Look at Merlyn Plan for Grid (1)
- VON GY : Vonovia 9M Loss EU3.81B Vs. Profit EU2.21B Y/y, Dims Outlook
- VON GY : Vonovia 9M Loss EU3.81B Vs. Profit EU2.21B Y/y, Dims Outlook